help with the below case? Andy Ballerton, SS# 123-12-1234, who lives at 2 E Oak St, Apt
Question:
help with the below case?
Andy Ballerton, SS# 123-12-1234, who lives at 2 E Oak St, Apt 10, Chicago, IL 60611, played for the Bears during 2021. He got engaged to Joan Packer, SSN 123-21-1234, on 1/30/2020 and planned to wed in 2021. The wedding did not happen as he broke it off. He does not have any dependents. Details of his 2021 transactions are as follows:
Wages: $50,000
Federal Income Tax Wage Withholding: $7,500
Interest from Chase Bank: $700
Interest from City of Chicago Bonds: $300
Taxable State Refund: $200
A gift from his dad: $2,500
A transfer from his savings to checking: $10,000
A car won from a car dealership: $25,000
Fully complete a 2021 Form 1040 and Form 1040 Schedule 1 for Andy Ballerton.
The accuracy of the completion of the 1040 will be evaluated as part of your homework points for session 4. If nothing belongs in a line or box, you may leave it blank (you don't have to put "0").
Use the 2021 federal tax rate schedule to calculate the tax
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill