Lee graduated from college in $2018$ and began work as a systems analyst in July of that year. He is $,.$preparing to file his income tax return for $2018,$ and has collected the following financial information for calendar year $2018.$ A blank Form $1040$ and Schedule $1$ may be obtained at www$.$IRS.gov.

Tuition, scholarships, and grants

$ $5,750$

Scholarship, room, and board

$1,850$

Salary

$55,000$

Interest income

$185$

Potentially deductible itemized expenses

$3,000$

Income taxes withheld

$2,600$

Prepare Caleb$’$s tax return, using a $$12,000$ standard deduction, and the tax rates given in

 

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To prepare Calebs tax return for 2018 we first need to calculate his taxable income Given Informatio... View the full answer