John Smith is 50 years old and is married to Joan Smith. The Smiths live at 512 Ferry Road, Newport Beach, CA 92603. They file a joint return and have two dependent children, Ryan, age 13, and Ashley, age 14. Ryan’s Social Security number is 123-45-6788, and Ashley’s Social Security number is 123-45-6787. In 2018, John and Joan had the following transactions: 1. John received $200,000 in salary from Red Steel Corporation, where he is a construction engineer. Withholding for Federal income tax was $37,750 and the appropriate FICA and Medicare tax withholding was done. how do we report income tax 2018 for this piece of information.

Answer rating: 100% (QA)

Answer Gross income Salary 200000 For AGI deductions 0 AGI ... View the full answer