Marc and Mikkel are married and file a joint tax return. Marc and Mikkel earned salaries this
Question:
Marc and Mikkel are married and file a joint tax return. Marc and Mikkel earned salaries this year of $64,200 and $13,200, respectively. In addition to their salaries, they received interest of $354 from municipal bonds and $600 from corporate bonds. Marc contributed $2,600 to a traditional individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,600 (under a divorce decree effective June 1, 2006). Marc and Mikkel have a 10-year-old adopted son, Mason, who lived with them throughout the entire year. Thus, Marc and Mikkel are allowed to claim a $2,000 child tax credit for Mason. Marc and Mikkel paid $6,200 of expenditures that qualify as itemized deductions, and they had a total of $2,596 in federal income taxes withheld from their paychecks during the year. (Use the tax rate schedules.)
Complete Marc and Mikkel's Form 1040, pages 1 and 2, and Schedule 1 (use the most recent forms available).
Marc and Mikkel's address is 19010 N.W. 135th Street, Miami, FL 33054.
Social security numbers:
Marc Taxpayer: 111-22-3333
Mikkel Taxpayer: 222-33-4444
Mason Taxpayer: 333-44-5555 Prior Spouse: 111-11-1111
SCHEDULE 1
(Form 1040)