Jonathan Michaels is single, has no dependents, has $55,000 in wages and lives at 55855 Ridge Dr.
Question:
Jonathan Michaels is single, has no dependents, has $55,000 in wages and lives at 55855 Ridge Dr. in Santa Fe, New Mexico. His social security number is 333-33-3333 and his federal withholding is $11,000. He has gambling winnings of $500 and the following expenses:
State income taxes
$2,200
Personal property taxes
1,000
Medical expenses
500
Charitable cash contributions
450
Mortgage interest expense
5,500
Gambling losses
650
Job hunting expenses
275
(he did not get the new position, which was in the same profession)
Prepare a Form 1040 and Schedule A for Jonathan using the appropriate worksheets and forms. Do not compute the underpayment penalty.
Form 1040 & Schedule A are attached below
1040 (99) U.S. Individual Income Tax Return 2015 Department of the Treasury-Internal Revenue Ser vice OMB No. 1545-0074 | IRS Use Only-Do not write or staple in this space. For the vear Jan. 1-Dec. 31, 2015, or other tax year beginning , 2015, ending See separate instructions. ,20 Your first name and initial Last name Your social security number If a joint return, spouse's first name and initial Last name Spouse's social security number Home address (number and street). If you have a P.O. box, see instructions. Apt. no. Make sure the SSN(s) above and on line 6c are correct. City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Presidential Election Campaign Check here if you, oryour spouse if filing Foreign postal code Jointly, want $3 to go to this fund. Checking a box below will not change your tax or Foreign country name Foreign province/state/county refund. O You OSpouse Filing Status Single 4 Head of household (with qualifying person). (See instructions.) If Married filing jointly (even if only one had income) the qualifying person is a child but not your dependent, enter this Check only one 3 U Married filing separately. Enter spouse's SSN above child's name here. box. and full name here. 5 O Qualifying widow(er) with dependent child Boxes checked on 6a and 6b No. of children on 6c who: • lived with you • did not live with you due to divorce or separation (see instructions) ба O Yourself. If someone can claim you as a dependent, do not check box 6a . Exemptions b Spouse (4) / if child under age 17 qualifying for child tax credit (see instructions) Dependents: (2) Dependent's social security number (3) Dependent's relationship to you (1) First name Last name If more than four dependents, see instructions and Dependents on 60 not entered above check here O Add numbers on lines above d Total number of exemptions claimed Income 7 Wages, salaries, tips, etc. Attach Form(s) W-2 7 8a Taxable interest. Attach Schedule B if required 8a b Tax-exempt interest. Do not include on line 8a 8b Attach Form(s) 9a Ordinary dividends. Attach Schedule B if required 9a W-2 here. Also b Qualified dividends 9b attach Forms W-2G and 1099-R if tax was withheld. 10 Taxable refunds, credits, or offsets of state and local income taxes 10 Alimony received . Business income or (loss). Attach Schedule C or C-EZ 11 11 12 12 13 Capital gain or (loss). Attach Schedule D if required. If not required, check here 13 If you did not get a W-2, see instructions. 14 Other gains or (losses). Attach Fom 4797. 14 15a IRA distributions 15a b Taxable amount 15b 16a Pensions and annuities 16a b Taxable amount 16b 17 Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E Fam income or (loss). Attach Schedule F. Unemployment compensation 17 18 18 19 19 20a Social security benefits 20a b Taxable amount 20b 21 Other income. List type and amount 21 22 Combine the amounts in the far right column for lines 7 through 21. This is your total income 22 23 Educator expenses 23 Adjusted Gross Income 24 Certain business expenses of reservists, performing artists, and fee-basis government officials. Attach Form 2106 or 2106-EZ 24 25 Health savings account deduction. Attach Fom 8889 25 26 Moving expenses. Attach Form 3903 26 27 Deductible part of self-employment tax. Attach Schedule SE 27 28 Self-employed SEP, SIMPLE, and qualified plans 28 29 Self-employed health insurance deduction Penalty on early withdrawal of savings. 31a Alimony paid b Recipient's SSN 29 30 30 31a 32 IRA deduction 32 33 Student loan interest deduction. 33 34 Tuition and fees. Attach Form 8917. 34 35 Domestic production activities deduction. Attach Form 8903 35 36 Add lines 23 through 35 . 36 37 Subtract line 36 from line 22. This is your adjusted gross income 37 For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Form 1040 (2015) Cat. No. 11320B 1040 (99) U.S. Individual Income Tax Return 2015 Department of the Treasury-Internal Revenue Ser vice OMB No. 1545-0074 | IRS Use Only-Do not write or staple in this space. For the vear Jan. 1-Dec. 31, 2015, or other tax year beginning , 2015, ending See separate instructions. ,20 Your first name and initial Last name Your social security number If a joint return, spouse's first name and initial Last name Spouse's social security number Home address (number and street). If you have a P.O. box, see instructions. Apt. no. Make sure the SSN(s) above and on line 6c are correct. City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Presidential Election Campaign Check here if you, oryour spouse if filing Foreign postal code Jointly, want $3 to go to this fund. Checking a box below will not change your tax or Foreign country name Foreign province/state/county refund. O You OSpouse Filing Status Single 4 Head of household (with qualifying person). (See instructions.) If Married filing jointly (even if only one had income) the qualifying person is a child but not your dependent, enter this Check only one 3 U Married filing separately. Enter spouse's SSN above child's name here. box. and full name here. 5 O Qualifying widow(er) with dependent child Boxes checked on 6a and 6b No. of children on 6c who: • lived with you • did not live with you due to divorce or separation (see instructions) ба O Yourself. If someone can claim you as a dependent, do not check box 6a . Exemptions b Spouse (4) / if child under age 17 qualifying for child tax credit (see instructions) Dependents: (2) Dependent's social security number (3) Dependent's relationship to you (1) First name Last name If more than four dependents, see instructions and Dependents on 60 not entered above check here O Add numbers on lines above d Total number of exemptions claimed Income 7 Wages, salaries, tips, etc. Attach Form(s) W-2 7 8a Taxable interest. Attach Schedule B if required 8a b Tax-exempt interest. Do not include on line 8a 8b Attach Form(s) 9a Ordinary dividends. Attach Schedule B if required 9a W-2 here. Also b Qualified dividends 9b attach Forms W-2G and 1099-R if tax was withheld. 10 Taxable refunds, credits, or offsets of state and local income taxes 10 Alimony received . Business income or (loss). Attach Schedule C or C-EZ 11 11 12 12 13 Capital gain or (loss). Attach Schedule D if required. If not required, check here 13 If you did not get a W-2, see instructions. 14 Other gains or (losses). Attach Fom 4797. 14 15a IRA distributions 15a b Taxable amount 15b 16a Pensions and annuities 16a b Taxable amount 16b 17 Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E Fam income or (loss). Attach Schedule F. Unemployment compensation 17 18 18 19 19 20a Social security benefits 20a b Taxable amount 20b 21 Other income. List type and amount 21 22 Combine the amounts in the far right column for lines 7 through 21. This is your total income 22 23 Educator expenses 23 Adjusted Gross Income 24 Certain business expenses of reservists, performing artists, and fee-basis government officials. Attach Form 2106 or 2106-EZ 24 25 Health savings account deduction. Attach Fom 8889 25 26 Moving expenses. Attach Form 3903 26 27 Deductible part of self-employment tax. Attach Schedule SE 27 28 Self-employed SEP, SIMPLE, and qualified plans 28 29 Self-employed health insurance deduction Penalty on early withdrawal of savings. 31a Alimony paid b Recipient's SSN 29 30 30 31a 32 IRA deduction 32 33 Student loan interest deduction. 33 34 Tuition and fees. Attach Form 8917. 34 35 Domestic production activities deduction. Attach Form 8903 35 36 Add lines 23 through 35 . 36 37 Subtract line 36 from line 22. This is your adjusted gross income 37 For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Form 1040 (2015) Cat. No. 11320B
Expert Answer:
1040 2016 Department of the TreasuryIrterral Revenue Service 99 US Individual Income Tax Return OMB ... View the full answer
South Western Federal Taxation Individual Income Taxes 2018
ISBN: 9781337385893
41st edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young, Nellen
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