Question: Prepare a 2020 Form 1040 with a Schedule 1 and Schedule A John and Shannon O'Banion, who lives at 3222 Pinon Drive, Mesa, CO 81643,
Prepare a 2020 Form 1040 with a Schedule 1 and Schedule A
John and Shannon O'Banion, who lives at 3222 Pinon Drive, Mesa, CO 81643, file as married filing jointly. John's social security number is 412-34-5670 (date of birth 5/12/1982), and Shannons is 412-34-5671 (date of birth 11/3/1984).
Johns W-2 contained the following information:
| Wages (box 1) = | $ 66,346.74 |
|---|---|
| Federal W/H (box 2) = | $ 5,224.75 |
| Social security wages (box 3) = | $ 66,346.74 |
| Social security W/H (box 4) = | $ 4,113.50 |
| Medicare wages (box 5) = | $ 66,346.74 |
| Medicare W/H (box 6) = | $ 962.03 |
Shannon did not work for the year due to a medical condition but did receive unemployment compensation of $2,711 for the year with federal withholding of $340.25. In the same year, they had the following medical costs:
| Shannons prescribed diabetes medication | $ 4,250 |
|---|---|
| Shannons hospital charges | 9,350 |
| Shannons regular physician visits | 835 |
| Shannons eye doctor | 75 |
| Shannons diabetes blood testing supplies | 685 |
| Insurance reimbursements | 1,925 |
In addition, they had the following other expenses:
| State income taxes | $ 4,950 |
|---|---|
| Real estate property taxes | 4,170 |
| Car loan interest | 500 |
| Personal property taxes | 765 |
| Cash charitable contributions (made ratably throughout the year to their church) | 2,135 |
| Mortgage interest expense | 9,970 |
| Union dues for John | 575 |
| Tax preparation fees | 175 |
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