Question: Chapter 7 TRP 7 - 1 Assume the taxpayer does NOT wish to contribute to the Presidential Election Fund, unless otherwise stated in the problem.

Chapter 7 TRP 7-1 Assume the taxpayer does NOT wish to contribute to the Presidential Election Fund, unless otherwise stated in the problem. In addition, the taxpayer did NOT receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency during the year. Maribel Gomez is a single taxpayer, SSN 412-34-5670, living at 5037 Circle Court, Crestview, IL 60543. Maribel is a supervisor whose W-2 shows gross wages of $96,760 with $5,999 of Social Security and $1,403 of Medicare taxes withheld. Maribel has $13,928 of federal withholding and $2,595 in state withholding, does not itemize, and had the following stock transactions for the year: Maribel also has interest from a savings account with Local Neighborhood Bank of $335 and dividends from Form 1099-DIV of $1,832 in ordinary dividends and $1,365 in qualified dividends. Prepare a 2024 Form 1040 for Maribel and all related schedules and forms. Assume that each box 3 of the 1099-Bs was not checked for all sales transactions. Maribel had qualifying health care coverage at all times during the tax year. Use the appropriate Tax Tables (Downloadable PDF,697 KB) and Tax Rate Schedules (Downloadable PDF,428 KB). Note: Instructions can be found on certain cells within the forms. Input all the values as positive numbers. Round your final answers to nearest whole dollar. 1040 for a Single taxpayer with no dependents. Schedule D PG1 Schedule D PG2 Qualified Dividend Qualified Dividends and Capital Gain Tax Worksheet.
Chapter 7 TRP 7 - 1 Assume the taxpayer does NOT

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!