Question: Assignment 2: Form 1040 Problem WEEK 2 HOMEWORK 2 Facts: The taxpayer is: Sally Student 123 Maple Street Cincinnati, Ohio 44000 Social Security No. 123-45-6789
Assignment 2: Form 1040 Problem WEEK 2 HOMEWORK 2 Facts: The taxpayer is: Sally Student 123 Maple Street Cincinnati, Ohio 44000 Social Security No. 123-45-6789 Sally is a 30-year old single person. She is an accountant and also works a side weekend job in an art gallery. She is not claimed as a dependent by anyone else. For 20XX, she had the following INCOME: 1. W-2 from 1st employer Gross wages income: $13,164 Federal Withholding $ 921 2. W-2 from 2d employer Gross wages $50,000.00 Federal withholding $ 9,500.00 3. Interest income from bank $132.00 4 Interest from brokerage firm $2,100.00 5. Ordinary "qualified" dividends from large U.S. Corporation: $3,000.00 To do: Go the IRS website at irs.gov, and get a Form 1040A and instructions, and also a Schedule B. Use these, with the facts above, to prepare a Form 1040A for Sally for the most recent year for which there is a form (this is almost always the calendar year prior to the present year). Remember to consider both the standard deduction and the personal exemption, if any. Remember to consider both the standard deduction and the personal exemption, if any.
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