Question: Make a tax return form 1 0 4 0 use 2 0 2 4 tax rules [ The following information applies to the questions displayed

Make a tax return form 1040 use 2024 tax rules
[The following information applies to the questions displayed below.]
Reba Dixon is a fifth-grade school teacher who earned a salary of $38,000 in 2024. She is 45 years old and
receives $1,200 of alimony payments each month from her former husband (divorced in 2016). Reba also rents out a
small apartment building. This year Reba received $50,000 of rental payments from tenants, and she incurred
$19,500 of expenses associated with the rental.
Reba and her daughter Heather (20 years old at the efid of the year) moved to Georgia in January of this year. Reba
provides more than one-half of Heather's support. They had been living in Colorado for the past 15 years, but ever
since her divorce, Reba has been wanting to move back to Georgia to be closer to her family. Luckily, last
December, a teaching position opened up and Reba and Heather decided to make the move. Reba paid a moving
company $2,010 to move their personal belongings, and she and Heather spent two days driving the 1,426 miles to
Georgia.
Reba rented a home in Georgia. Heather decided to continue living at home with her mom, but she started
attending school full time in January and throughout the rest of the year at a nearby university. She was awarded a
$3,000 partial tuition scholarship this year, and Reba helped out by paying the remaining $500 tuition cost. If
possible, Reba thought it would be best to claim the education credit for these expenses.
Reba wasn't sure if she would have enough items to help her benefit from itemizing on her tax return. However, she
 Make a tax return form 1040 use 2024 tax rules [The

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!