Question: Please answer Why would Milton need to file a Schedule D and form 6251 for the problem below? and Form 8826 (disabled access credit). Show

Please answer Why would Milton need to file a Schedule D and form 6251 for the problem below?

 Please answer Why would Milton need to file a Schedule D

and Form 8826 (disabled access credit). Show detail of the child tax credit computation (with any phaseout) at the bottom of Form 1040, page 2. Harold J. Milton (SSN 000-22-1111) is 66 years old and unmarried, filing single with no dependents. He had the following income and deductions for 2017: 1:14-69 $18,000 Salary $177,000 Interest income from State Bank 12,000 Dividend income (qualified) 18,000 Deductible IRA contribution 5,000 Tax-exempt interest income from municipal bonds Charitable contributions 24,000 27.000 Medical expenses (before the floor) 18,000 State income taxes Mortgage interest expense on residence (100% acquisition debt) Interest expense on car loan Real estate taxes on residence Miscellaneous deductions other before the floor) 19,000 3,000 2,000 7,000 Income taxes withheld Estimated tax payments ($2,500 per quarter) 20,000 10,000 Complete Milton's 2017 Form 1040, Schedule A, B, D, and Form 6251. In 2016, Milton had AGI of $200,000 and his income tax liability was $46,000. revious Next > and Form 8826 (disabled access credit). Show detail of the child tax credit computation (with any phaseout) at the bottom of Form 1040, page 2. Harold J. Milton (SSN 000-22-1111) is 66 years old and unmarried, filing single with no dependents. He had the following income and deductions for 2017: 1:14-69 $18,000 Salary $177,000 Interest income from State Bank 12,000 Dividend income (qualified) 18,000 Deductible IRA contribution 5,000 Tax-exempt interest income from municipal bonds Charitable contributions 24,000 27.000 Medical expenses (before the floor) 18,000 State income taxes Mortgage interest expense on residence (100% acquisition debt) Interest expense on car loan Real estate taxes on residence Miscellaneous deductions other before the floor) 19,000 3,000 2,000 7,000 Income taxes withheld Estimated tax payments ($2,500 per quarter) 20,000 10,000 Complete Milton's 2017 Form 1040, Schedule A, B, D, and Form 6251. In 2016, Milton had AGI of $200,000 and his income tax liability was $46,000. revious Next >

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