need help with ph 2 1040

Note: This problem is for the 2019 tax year. 2 3 4 5 6 Alice J. and Bruce M. Byrd are married taxpayers who file a joint return. Their Social Security numbers are 123-45-6784 and 111-11-1113, respectively. Alice's birthday is September 21, 1972, and Bruce's is June 27, 1971. They live at 473 Revere Avenue, Lowell, MA 01850. Alice is the office manager for Lowell Dental Clinic, 433 Broad Street, Lowell, MA 01850 (Employer Identification Number 98-7654321). Bruce is the manager of a Super Burgers fast-food outlet owned and operated by Plymouth Corporation, 1247 Central Avenue, Hauppauge, NY 11788 (Employer Identification Number 11-1111111). The following information is shown on their wage and Tax Statements (Form W-2) for 2019. Line Description Alice Bruce 1 Wages, tips, other compensation $58,000 $62,100 Federal income tax withheld 4,500 5,300 Social Security wages 58,000 62,100 Social Security tax withheld 3,596 3,850 Medicare wages and tips 58,000 62,100 Medicare tax withheld 841 900 15 State Massachusetts Massachusetts 16 State wages, tips, etc. 58,000 62,100 17 State income tax withheld 2,950 3,100 The Byrds provide over half of the support of their two children, Cynthia (born January 25, 1995, Social Security number 123-45-6788) and John (born February 7, 1999, Social Security number 123-45-6780). Both children are full-time students and live with the Byrds except when they are away at college, Cynthia earned $6,200 from a summer internship in 2019, and John eamed $3,800 from a part-time job. During 2019, the Byrds provided 60% of the total support of Bruce's widower father, Sam Byrd (born March 6, 1943, Social Security number 123-45-6787). Sam lived alone and covered the rest of his support with his Social Security benefits. Sam died in November, and Bruce, the beneficiary of a policy on Sam's life, received life insurance proceeds of $1,600,000 on December 28. The Byrds had the following expenses relating to their personal residence during 2019: Real estate property taxes $5,000 Qualified interest on home mortgage 8,700 Repairs to roof 5.750 Utilities 900 During 2019, the Byrds provided 60% of the total support of Bruce's widower father, Sam Byrd (born March 6, 1943, Social Security number 123-45-6787). Sam lived alone and covered the rest of his support with his Social Security benefits. Sam died in November, and Bruce, the beneficiary of a policy on Sam's life, received life insurance proceeds of $1,600,000 on December 28. The Byrds had the following expenses relating to their personal residence during 2019: Real estate property taxes $5,000 Qualified interest on home mortgage 8,700 Repairs to roof 5,750 4,100 Fire and theft insurance 1,900 The Byrds had the following medical expenses for 2019: Medical insurance premiums $4,500 Doctor bill for Sam incurred in 2016 and not paid until 2019 7,600 Operation for Sem 8,500 Prescription medicines for Sam Hospital expenses for Sam 3,500 Reimbursement from insurance company, received in 2019 3,600 The medical expenses for Sam represent most of the 60% that Bruce contributed toward his father's support. Other relevant information follows: When they filed their 2018 state return in 2019, the Byrds pald additional state income tax of $900. . During 2019, Alice and Bruce attended a dinner dance sponsored by the Lowell Police Disability Association (a qualified charitable organization). The Byrds paid $300 for the tickets. The cost of comparable entertainment would normally be $50. The Byrds contributed $5,000 to Lowell Presbyterian Church and gave used clothing (cost of $1,200 and fair market value of $350) to the Salvation Army. All donations are supported by receipts, and the clothing is in very good condition Via a crowdfunding site (gofundme.com), Alice and Bruce made a gift to a needy family who lost their home in a fire (5400). In addition, they made several cash gifts to homeless individuals downtown (estimated to be $65). . In 2019, the Byrds received interest income of $2,750, which was reported on a Form 1099-INT from Second National Bank, 125 Oak Street, Lowell, MA 01850 (Employer Identification Number 98-7654322). The home mortgage interest was reported on Form 1098 by Lowell Commercial Bank, PO Box 1000, Lowell, MA 01850 (Employer Identification Number 98-7654323). The mortgage (outstanding balance of $425,000 as of January 1, 2019) was taken out by the Byrds on May 1, 2015 . Alice's employer requires that all employees wear uniforms to work. During 2019, Alice spent $850 on new uniforms and $566 on laundry charges Bruce paid $400 for an annual subscription to the Journal of Franchise Management and $741 for annual membership dues to his professional association. Neither Alice's nor Bruce's employer reimburses for employee expenses. Other relevant information follows: When they filed their 2018 state return in 2019, the Byrds paid additional state income tax of $900. . During 2019, Alice and Bruce attended a dinner dance sponsored by the Lowell Police Disability Association (a qualified charitable organization). The Byrds paid $300 for the tickets. The cost of comparable entertainment would normally be $50. The Byrds contributed $5,000 to Lowell Presbyterian Church and gave used clothing (cost of $1,200 and fair market value of $350) to the Salvation Army. All donations are supported by receipts, and the clothing is in very good condition Via a crowdfunding site (gofundme.com), Alice and Bruce made a gift to a needy family who lost their home in a fire (5400). In addition, they made several cash gifts to homeless individuals downtown (estimated to be $65). In 2019, the Byrds received interest income of $2,750, which was reported on a Form 1099-INT from Second National Bank, 125 Oak Street, Lowell, MA 01850 (Employer Identification Number 98-7654322). The home mortgage interest was reported on Form 1098 by Lowell Commercial Bank, PO Box 1000, Lowell, MA 01850 (Employer Identification Number 98-7654323). The mortgage (outstanding balance of $425,000 as of January 1, 2019) was taken out by the Byrds on May 1, 2015 Alice's employer requires that all employees wear uniforms to work. During 2019, Alice spent $850 on new uniforms and $566 on laundry charges Bruce paid $400 for an annual subscription to the Journal of Franchise Management and $741 for annual membership dues to his professional association . Neither Alice's nor Bruce's employer reimburses for employee expenses. The Byrds do not keep the receipts for the sales taxes they paid and had no major purchases subject to sales tax. This year the Byrds gave each of their children $2,000, which was then deposited into their Roth IRAs, Alice and Bruce paid no estimated Federal income tax. Neither Alice nor Bruce wants to designate $3 to the Presidential Election Campaign Fund Required: Compute net tax payable or refund due for Alice and Bruce Byrd for 2019. If they have overpaid, they want the amount to be refunded to them. 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. . It may be necessary to complete the tax schedules before completing Form 1040. When computing the tax liability, do not round your immediate calculations. If required, round your final answers to the nearest dollar. 12a Tax (see Inst.) Check if any from Form(s): 1 8814 2 0 4972 3 b Add Schedule 2, line 3, and line 12e and enter the total 122 12a 10,717 12b 10,717 13a Child tax credit or credit for other dependents 13a b Add Schedule 3, line 7, and line 13a and enter the total 13b 14 Subtract line 13b from line 12b. If zero or less, enter-0- 14 15 Other taxes, including self-employment tax, from Schedule 2, line 10 15 16 Add lines 14 and 15. This is your total tax 16 70,714 X 17 Federal income tax withheld from Forms W-2 and 1099 17 9,800 able 18e 19 9,800 have a 18 Other payments and refundable credits: Ing child, a Earned Income credit (ETC) 18a Sch. EIC have b Additional child tax credit. Attach Schedule 8812 18b 18c . American opportunity credit from Form 8863, line 8 Cructions d Schedule 3, line 14 180 . Add lines 18 through 18d. These are your total other payments and refundable credits 19 Add lines 17 and 18e. These are your total payments d 20 Ir line 19 is more than line 16, subtract line 16 from line 19. This is the amount you overpaid 21a Amount of tine 20 you want refunded to you. If Form 8888 is attached, check here b Routing number 1 c Type: Checking Savings lons Account number IT 22 Amount of line 20 you want applied to your 2020 estimated 22 at Amount you owe. Subtract line 19 from line 16. For details on how to pay, see instructions 20 2,383 X 21a tax 23