Question: Complete Form 1040 below for Lance and Wanda Dean. Complete Form 1040 below for Lance and Wanda Dean. Semester Tax Print Item Semester Tax Print
Complete Form 1040 below for Lance and Wanda Dean.








Complete Form 1040 below for Lance and Wanda Dean. Semester Tax Print Item Semester Tax Print Item BAA For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Form 1040 (2021) Form 1040 (2021) Lance H and Wanda B Dean Page 2 16 Tax (see instructions). Check if any from Form(s): 18814249723 19 Nonrefundable child tax credit or credit for other dependents from Schedule 8812 20 Amount from Schedule 3, line 8 22 Subtract line 21 from line 18 . If zero or less, enter 0,. 23 Other taxes, including self-employment tax, from Schedule 2, line 21 25 Federal income tax withheld from: . Semester Tax Print Item c Other forms (see instructions) Semester Tax Print Item Refund 34 If line 33 is more than line 24 , subtract line 24 from line 33 . This is the amount you overpaid . 35a Amount of line 34 you want refunded to you. If Form 8888 is attached, check here Direct deposit? b Routing number c Type: Checking Savings See instructions. d Account number 36 Amount of line 34 you want applied to your 2022 estimated Amount 37 Amount You Owe. Subtract line 33 from line 24. For details on how to pay, see Third Party Do you want to allow another person to discuss this return with the IRS? See instructions. designee below. Note: This problem is for the 2021 tax year. Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, Santa Fe, NM 87501. Lance works for the convention bureau of the local Chamber of Commerce, and Wanda is employed part-time as a paralegal for a law firm. During 2021, the Deans had the following receipts: Wanda was previously married to John Allen. When they divorced several years ago, Wanda was awarded custody of their two children, Penny and Kyle. (Note: Wanda has never issued a Form 8332 waiver.) Under the divorce decree, John was obligated to pay alimony and child support-the alimony payments were to terminate if Wanda remarried. In July, while going to lunch in downtown Santa Fe, Wanda was injured by a tour bus. Because the driver was clearly at fault, the owner of the bus, Roadrunner Touring Company, paid her medical expenses (including a one-week stay in a hospital). To avoid a lawsuit, Roadrunner also transferred $90,000 to her in settlement of the personal injuries she sustained. The Deans had the following expenditures for 2021 : The Deans had the following expenditures for 2021 : The life insurance policy was taken out by Lance several years ago and designates Wanda as the beneficiary. As a part-time employe, Wanda is excluded from coverage under her employer's pension plan. Consequently, she provides for heremention IRA obtained at a local trust company. Because the mayor is a member of the local Chamber of Commerce, Lance felt compelled to make the political contribution. The Deans' household includes the following, for whom they provide more than half of the support: the political contribution. The Deans' household includes the following, for whom they provide more than half of the support: Penny graduated from high school on May 9, 2021, and is undecided about college. During 2021, she earned $8,500 (placed in a savings account) playing a harp in the lobby of a local hotel. Wayne is Wanda's widower father who died on December 20, 2021. For the past few years, Wayne qualified as a dependent of the Deans. Federal income tax withheld is $3,900 (Lance) and $1,800 (Wanda). The proper amount of Social Security and Medicare tax was withheld. The Deans received the appropriate coronavirus recovery rebates (economic impact payments); related questions in ProConnect Tax should be ignored. Required: Determine the Federal income tax for 2021 for the Deans on a joint return by completing the appropriate forms. Use Form 1040 and Schedule 1 to complete this tax return. They do not own and did not use any virtual currency during the year, and they do not want to contribute to the Presidential Election Campaign Fund. If an overpayment results, it is to be refunded to them. - Make realistic assumptions about any missing data. - Enter all amounts as positive numbers. - If an amount box does not require an entry or the answer is zero, enter " 0 ". - Use the tax rate schedules included with this problem. When computing the tax liability, do not round your immediate calculations. If required round your final answers to the nearest dollar. Complete Form 1040 below for Lance and Wanda Dean. Semester Tax Print Item Semester Tax Print Item BAA For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Form 1040 (2021) Form 1040 (2021) Lance H and Wanda B Dean Page 2 16 Tax (see instructions). Check if any from Form(s): 18814249723 19 Nonrefundable child tax credit or credit for other dependents from Schedule 8812 20 Amount from Schedule 3, line 8 22 Subtract line 21 from line 18 . If zero or less, enter 0,. 23 Other taxes, including self-employment tax, from Schedule 2, line 21 25 Federal income tax withheld from: . Semester Tax Print Item c Other forms (see instructions) Semester Tax Print Item Refund 34 If line 33 is more than line 24 , subtract line 24 from line 33 . This is the amount you overpaid . 35a Amount of line 34 you want refunded to you. If Form 8888 is attached, check here Direct deposit? b Routing number c Type: Checking Savings See instructions. d Account number 36 Amount of line 34 you want applied to your 2022 estimated Amount 37 Amount You Owe. Subtract line 33 from line 24. For details on how to pay, see Third Party Do you want to allow another person to discuss this return with the IRS? See instructions. designee below. Note: This problem is for the 2021 tax year. Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, Santa Fe, NM 87501. Lance works for the convention bureau of the local Chamber of Commerce, and Wanda is employed part-time as a paralegal for a law firm. During 2021, the Deans had the following receipts: Wanda was previously married to John Allen. When they divorced several years ago, Wanda was awarded custody of their two children, Penny and Kyle. (Note: Wanda has never issued a Form 8332 waiver.) Under the divorce decree, John was obligated to pay alimony and child support-the alimony payments were to terminate if Wanda remarried. In July, while going to lunch in downtown Santa Fe, Wanda was injured by a tour bus. Because the driver was clearly at fault, the owner of the bus, Roadrunner Touring Company, paid her medical expenses (including a one-week stay in a hospital). To avoid a lawsuit, Roadrunner also transferred $90,000 to her in settlement of the personal injuries she sustained. The Deans had the following expenditures for 2021 : The Deans had the following expenditures for 2021 : The life insurance policy was taken out by Lance several years ago and designates Wanda as the beneficiary. As a part-time employe, Wanda is excluded from coverage under her employer's pension plan. Consequently, she provides for heremention IRA obtained at a local trust company. Because the mayor is a member of the local Chamber of Commerce, Lance felt compelled to make the political contribution. The Deans' household includes the following, for whom they provide more than half of the support: the political contribution. The Deans' household includes the following, for whom they provide more than half of the support: Penny graduated from high school on May 9, 2021, and is undecided about college. During 2021, she earned $8,500 (placed in a savings account) playing a harp in the lobby of a local hotel. Wayne is Wanda's widower father who died on December 20, 2021. For the past few years, Wayne qualified as a dependent of the Deans. Federal income tax withheld is $3,900 (Lance) and $1,800 (Wanda). The proper amount of Social Security and Medicare tax was withheld. The Deans received the appropriate coronavirus recovery rebates (economic impact payments); related questions in ProConnect Tax should be ignored. Required: Determine the Federal income tax for 2021 for the Deans on a joint return by completing the appropriate forms. Use Form 1040 and Schedule 1 to complete this tax return. They do not own and did not use any virtual currency during the year, and they do not want to contribute to the Presidential Election Campaign Fund. If an overpayment results, it is to be refunded to them. - Make realistic assumptions about any missing data. - Enter all amounts as positive numbers. - If an amount box does not require an entry or the answer is zero, enter " 0 ". - Use the tax rate schedules included with this problem. When computing the tax liability, do not round your immediate calculations. If required round your final answers to the nearest dollar
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