John R. Lane (SSN 111-44-6666) lives at 1010 Ipsen Street, Yorba Linda, California 90102. John, a single

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John R. Lane (SSN 111-44-6666) lives at 1010 Ipsen Street, Yorba Linda, California 90102. John, a single taxpayer, age 66, provided 60% of his cousin’s support. The cousin lives in Arizona. He wants to take advantage of the presidential election campaign checkoff. John was employed as an accountant before he retired during the year. Other relevant information includes

Salary ............................................................ $50,000

Pension (all taxable) ......................................41,000

Taxable interest income .....................................240

Deductible contribution to IRA .......................6,000

Withholdings (Form W-2) ..............................12,100

John’s itemized deductions total $11,000 (none of which are charitable contributions). John does not have any transactions involving virtual currency. Complete Form 1040-SR and Schedule 1 for 2021. Assume any estimated tax penalty is zero.

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Pearsons Federal Taxation 2023 Comprehensive

ISBN: 9780137840656

36th Edition

Authors: Timothy J. Rupert, Kenneth E. Anderson, David S Hulse

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