PLEASE ONLY ANSWER THE ONES MARKED WRONG

FORM 1040- 2022 TAXES

NO EXPLANATION NEEDED ONLY THE ANSWERS

2022 Tax Rate Schedules SingleSchedule X Head of householdSchedule Z If taxable ofthe If taxable ofthe income is: But not amount income is: But not amount Over over The taxis: over Over over The taxis: over $ 0 $10275 e 10% $ 0 $ 0 $ 14650 e 10% $ 0 10,275 41,775 $ 1,027.50 + 12% 10,275 14,650 55,900 $ 1,465.00 + 12% 14,650 41,775 89,075 4,807.50 + 22% 41,775 55,900 89,050 6,415.00 + 22% 55,900 89,075 170,050 15,213.50 + 24% 89,075 89,050 170,050 13,708.00 + 24% 89,050 170,050 215,950 34,647.50 + 32% 170,050 170,050 215,950 33,148.00 + 32% 170,050 215,950 539,900 49,335.50 + 35% 215,950 215,950 539,900 47,836.00 + 35% 215,950 539,900 ......... 162,718.00 + 37% 539,900 539900 ......... 161,218.50 + 37% 539,900 Married filing jointly or Qualifying widow(er) Married filing separatelySchedule Y-2 Schedule Y-1 If taxable of the If taxable ofthe incomeis: But not amount incomeis: But not amount Over over The taxis: over Over over The taxis: over $ 0 $ 20,550 .eeeen. 10% $ 0 $ 0 $10275 e 10% $ 0 20,550 83,550 $ 2,055.00 + 12% 20,550 10,275 41,775 $ 1,027.50 + 12% 10,275 83,550 178,150 9,615.00 + 22% 83,550 41,775 89,075 4,807.50 + 22% 41,775 178,150 340,100 30,427.00 + 24% 178,150 89,075 170,050 15,213.50 + 24% 89,075 340,100 431,900 69,295.00 + 32% 340,100 170,050 215,950 34,647.50 + 32% 170,050 431,900 647,850 98,671.00 + 35% 431,900 215,950 323,925 49,335.50 + 35% 215,950 647,850 ... 174,253.50 + 37% 647,850 323925 . 87,126.75 + 37% 323,925 Form 1040 see instructions and check Income 1a Attach Form(s) W-2 here. Also b attach Forms c W-2G and 1099-R if tax d was withheld. If you did not f get a Form W-2, see g instructions. h i z Attach Sch. B 2a if required. 3a 4a Standard 5a Deduction for 6a * Single or Married filing c separately, 7 $12,950 Married filing 8 jointly or Tip income not reported on line 1la (see instructions) . . . . . ... v i i it i i it i e n Medicaid waiver payments not reported on Form(s) W-2 (see instructions) . .. ....... Taxable dependent care benefits from Form 2441, line26 . ........ ... .. vuu.n.. Employer-provided adoption benefits from Form 8839, 1line29................ ... Wages from Form 8919, line6...... Other earned income (see instructions) Nontaxable combat pay election (see instructions) . . ...... 1i Add lines 1athroughth........... Tax-exempt interest . . 2a Qualified dividends . . . IRA distributions . . . . Pensions and annuities Social security benefits - S - S - b Taxableinterest.......... Ordinary dividends . . . ... .. Taxable amount . . . ....... Taxable amount . . ........ b Taxableamount.......... If you elect to use the lump-sum election method, check here (see instructions) . . ... o Capital gain or (loss). Attach Schedule D if required. If not required, check here . . . .. o Other income from Schedule 1, line 10 O Form 1040 Qualifying 9 Add lines 1z, 2b, 3b, 4b, 5b, 6b, 7, and 8. This is your total income surviving 192,800 spouse, $25,900 10 Adjustments to income from Schedule 1, line 26 . . . 10 15,000 Head of household, 11 Subtract line 10 from line 9. This is your adjusted gross income . . . . . . 11 177,800 $19,400 If you checked 12 Standard deduction or itemized deductions (from Schedule A) . . . . . . . . 12 25,900 any box under Standard 13 Qualified business income deduction from Form 8995 or Form 8995-A . . 13 Deduction, see instructions. 14 Add lines 12 and 13 .. 14 25,100 X 15 Subtract line 14 from line 11. If zero or less, enter -0-. This is your taxable income . . . 15 152,700 X BAA For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Form 1040 (2022) Form 1040 (2022) Alfred E. and Beulah A. Old 111-11-1109 Page 2 Tax and 16 Tax (see instructions). Check if any from Form(s): 1 0 8814 2 0 4972 3 0 16 25,091 X Credits 17 Amount from Schedule 2, line 3 . 17 18 Add lines 16 and 17 . . 18 25,091 X 19 Child tax credit or credit for other dependents from Schedule 8812 . . 19 20 Amount from Schedule 3, line 8 . 20 21 Add lines 19 and 20 . .. 21 22 Subtract line 21 from line 18. If zero or less, enter -0- . . 22 25,091 X 23 Other taxes, including self-employment tax, from Schedule 2, line 21 . . . 23Form 1040 23 Other taxes, including self-employment tax, from Schedule 2, line 21 . . 23 24 Add lines 22 and 23. This is your total tax . . . . . 24 25,091 X Payments 25 Federal income tax withheld from: . . . . Form(s) W-2 . . 32,400 X 25a b Form(s) 1099 .. 25b c Other forms (see instructions) . 250 d Add lines 25a through 25c . . . . . . 25d 32,400 X 26 2022 estimated tax payments and amount applied from 2021 return . . . 26 If you have a 27 Earned income credit (EIC) . . . 27 qualifying child, attach Sch. EIC. 28 Additional child tax credit from Schedule 8812 . . 28 American opportunity credit from Form 8863, line 8 . . . . . . 29 29 30 Reserved for future use . . 30 31 Amount from Schedule 3, line 15 . . . . . 31 32 Add lines 27, 28, 29, and 31. These are your total other payments and refundable credits . . 32 33 Add lines 25d, 26, and 32. These are your total payments . . 33 29,100 Refund 34 If line 33 is more than line 24, subtract line 24 from line 33. This is the amount you X overpaid . 34Form 1040 If line 33 is more than line 24, subtract line 24 from line 33. This is the amount you overpaid . . .. ... e - Amount of line 34 you want refunded to you. If Form 8888 is attached, check here . . a O Direct deposit? b Routing number cType: O Checking 0O Savings 36 Amount of line 34 you want applied to your 2023 estimatedtax . .. ......... ... ... i i i Amount 37 Subtract line 33 from line 24. This is the amount you owe. For details on how to pay, go to www.irs.gov/Payments or see instructions . . ... ..... You Owe pay, g9 gov/Pay 38 Estimated tax penalty (see instructions) . . ... ........... Third Party Do you want to allow another person to discuss this return with the IRS? . See instructions . . . ... oo i e e Yes. Complete below. No Designee Designee's Phone Personal identification name no. number (PIN) Sign Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and Here to the best of my knowledge and belief, they are true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Your signature Your occupation If the IRS sent you an Identity Protection Joint return? Executive PIN, enter it here (see inst.) See instructions. Spouse's signature. If a Spouse's occupation If the IRS sent your spouse an Identity Keep a copy for joint return, both must Lawyer Protection PIN, enter it here (see inst.) your records. sign. Phone no. Email address Check if: O Self-employed Paid Preparer's name Preparer's signature Self-Prepared Do o = e e Instructions Note: This problem is for the 2022 tax year. Alfred E. Old and Beulah A. Crane, each age 42, married on September 7, 2020. Alfred and Beulah will file a joint return for 2022. Alfred's Social Security number is 111-11-1109. Beulah's Social Security number is 123-45-6780, and she has chosen to use "Old" as her married name. They live at 211 Brickstone Drive, Atlanta, GA 30304. Alfred was divorced from Sarah Old in March 2017. Under the divorce agreement, Alfred is to pay Sarah $1,250 per month for the next 10 years or until Sarah's death, whichever occurs first. Alfred paid Sarah $15,000 in 2022. In addition, in January 2022, Alfred paid Sarah $50,000, which is designated as being for her share of the marital property. Also, Alfred is responsible for all prior years' income taxes. Sarah's Social Security number is 123-45-6788. Alfred's salary for 2022 is $150,000. He is an executive working for Cherry, Inc. (Federal I.D. No. 98-7654321). As part of his compensation package, Cherry provides him with group term life insurance equal to twice his annual salary. His employer withheld $22,800 for Federal income taxes and $8,000 for state income taxes. The proper amounts were withheld for FICA taxes. Beulah recently graduated from law school and is employed by Legal Aid Society, Inc. (Federal I.D. No. 11-1111111), as a public defender. She received a salary of $42,000 in 2022. Her employer withheld $6,300 for Federal income taxes and $2,400 for state income taxes. The proper amounts were withheld for FICA taxes. Alfred and Beulah received taxable interest income of $500. Alfred and Beulah received a $1,900 refund on their 2021 state income taxes; they claimed the standard deduction on their 2021 Federal income tax return. Alfred and Beulah paid $4,500 interest and $1,450 property taxes on their personal residence in 2022. They paid sales taxes of $1,400, for which they maintain the receipts. Alfred and Beulah have never owned or used any digital assets, and they do not want to contribute to the Presidential Election Campaign. Required: Compute the Olds' net tax payable (or refund due) for 2022. Use Form 1040 and Schedule 1 to complete this tax return. * It may be necessary to complete the tax schedule and worksheet before completing Form 1040. * Enter all amounts as positive numbers. = If an amount box does not require an entry or the answer is zero, enter "0". * Make realistic assumptions about any missing data. * When computing the tax liability, do not round your immediate calculations. If required round your final answers to the nearest dollar. * Use the 2022 Tax Rate Schedule provided. Do not use the Tax Tables