Go to the IRS Web site (www.irs.gov) and print the first page of Form 1040. Compute Pierre

Question:

Go to the IRS Web site (www.irs.gov) and print the first page of Form 1040. Compute Pierre Lappin's adjusted gross income by entering the following information on Form 1040: $60,000 salary, $5,000 qualified income, $3,000 interest income from corporate bonds, $2,000 interest income from municipal general revenue bonds, $4,000 in long-term capital gains, and $10,000 income from an S corporation. In addition, Pierre paid his ex-wife $5,000 for alimony and $6,000 for child support. Pierre remarried prior to the end of the year and files a joint return with his new wife, Jeanie Lappin. Jeanie earned $10,000 from her part-time job for the year. The Lappins live at 123 Cottontail Lane, Houston, TX and have no dependents. Pierre's social security number is 123-45-6789 and Jeannie's social security number is 445-67-9876. Pierre's ex-wife's social security number is 345-67-8899.
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...