Question: Help please. A 2 0 2 4 1 0 4 0 has to be prepared with the appropriate schedules, schedules listed bellow. Thank you Assume

Help please. A 20241040 has to be prepared with the appropriate schedules, schedules listed bellow. Thank you
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. The entire child tax credit (if permitted) will be claimed on the 2024 tax return.
Marie Lincoln is a head of household. She is 37 years old and her address is 4110 N.E.13th Street, Miami, FL 33127. Additional
information about Ms. Lincoln is as follows:
Social Security number: 412-34-5670
Date of birth: 1/14/1987
W-2 for Marie shows these amounts:
Wages (box 1)= $ 57,116.00
Federal W/H (box 2)= $ 3,875.12
Social Security wages (box 3)=$ $57,116.00
Social Security W/H (box 4)= $ 3,541.19
Medicare wages (box 5)= $57,116.00
Medicare W/H (box 6)= $ 828.18
Form 1099-INT for Marie shows this amount:
Box 1=$556.00 from A & D Bank.
Dependent Son Steven is 10 years old. His date of birth is 5//11//2014. His Social Security number is 412-34-5672
Marie is a retail store manager.
Required:
Prepare Form 1040 and Schedule 8812 for Ms. Lincoln for 2024. She is entitled to the child tax credit. For now, enter the credit on the appropriate line of the form. She wants to contribute to the presidential election campaign. Use the appropriate Tax Tables.
Note: Input all the values as positive numbers. Do not skip rows while entering in Dependents section of Form 1040 PG1.
Instructions can be found on certain cells within the forms.
1040 for a Single taxpayer with one dependent.
1 Enter the amount from line 11 of your Form 1040,1040-SR, or \(1040-\mathrm{NR}\)
2a Enter income from Puerto Rico that you excluded
b Enter the amounts from lines 45 and 50 of your Form 2555
c. Enter the amount from line 15 of your Form 4563
d Add lines 2a through 2c
3 Add lines 1 and 2d
4 Number of qualfying children under age 17 with the required social security number
5 Multiply line 4 by \(\$ 2,000\)
6 Number of other dependents, including any qualifying children who are not under age 17 or who do not have the required social security number
Caution: Do not include yourself, your spouse, or anyone who is not a U.S. citizen, U.S. national, or U.S. resident alien. Also, do not include anyone you included on line 4.
7 Multiply line 6 by \(\$ 500\)
8 Add lines 5 and 7
9 Enter the amount shown below for your filing status.
- Married filing jointly-\$400,000
* All other filing statuses-\(\$ 200,000\)
10 Subtract line 9 from line 3.
- If zero or less, enter -0.
- If more than zero and not a multiple of \(\$ 1,000\), enter the next multiple of \(\$ 1,000\). For example, if the result is \(\$ 425\), enter \(\$ 1,000\); if the result is \(\$ 1,025\), enter \(\$ 2,000\), etc.
11 Multiply line 10 by \(5\%\)(0.05)
12 Is the amount on line 8 more than the amount on line 11?
No. STOP. You cannot take the child tax credit, credit for other dependents, or additional child tax credit. Skip Parts II-A and II-B. Enter -0-on lines 14 and 27.
Yes. Subtract line 11 from line 8. Enter the result.
13 Enter the amount from the Credit LImit Worksheat A
14 Enter the smaller of line 12 or 13. Thls ls your child tax credit and credit for other dependents
Enter this amount on Form 1040,1040-SR, or 1040-NR, Ilne 19.3 Subtract line 2 from line 1.
Complete the Credit Limit Warksheet B only if you meet all of the following.
1. You are claiming one or more of the following credits.
a. Mortgage interest credit, Form 8396.
b. Adoption credit, Form 8839.
c. Residential clean energy credit, Form 5695, Part I.
d. District of Calumbia first-time homebuyer credit, Form 8859.
2. You are not filing Form 2555.
3. Line 4 of Schedule 8812 is more than zero.
4 If you are not completing Credit Limit Worksheet B, enter -0-; otherwise, enter the amount from the Credit Limit Worksheet B.
Help please. A 2 0 2 4 1 0 4 0 has to be prepared

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