David and Darlene Jasper have one child, Sam, who is 6 years old (birthdate July 1, 2010).
Question:
David and Darlene Jasper have one child, Sam, who is 6 years old (birthdate July 1, 2010). The Jaspers reside at 4639 Honeysuckle Lane, Los Angeles, CA 90248. David's Social Security number is 577-11-3311, Darlene's is 477-98-4731, and Sam's is 589-22-1142. David's birthdate is May 29, 1984 and Darlene's birthday is January 31, 1986. David and Darlene's earnings and withholdings for 2016 are:
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Their other income includes interest from Pine Tree Savings and Loan of $1,825. Other information and expenditures for 2016 are as follows:
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David and Darlene received the following letter from Sam's daycare provider:
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In 2016, David lost his job. David paid for one month of insurance out-of-pocket and then the family went without insurance for September through December 2016. They are not eligible for any exemptions from health care coverage.
Required:
Complete the Jaspers' federal tax return for 2016. Use Form 1040, Schedule A, Schedule B, Form 2441, the Shared Responsibility Payment Worksheet, and the Flat Dollar Amount Worksheet.
Make realistic assumptions about any missing data. If an amount box does not require an entry or the answer is zero, enter "0". Enter all amounts as positive numbers. If required, round any answer to the nearest dollar (unless instructed otherwise on the tax form). Assume alternative minimum tax is not a factor.
Andersons Business Law and the Legal Environment
ISBN: 978-0324786668
21st Edition
Authors: David p. twomey, Marianne moody Jennings