Richmond Community Bank & Trust (Carla) Dividend income (all qualifying in nature) -- Martinsville Machinery Company common
Question:
Martinsville Machinery Company common stock (joint) Jamestown Mutual Fund (joint) Jamestown Mutual Fund (joint, but a capital gain distribution,
not an ordinary dividend) Selected expenditures
Medical costs (unreimbursed) incurred:
Physicians Veterinarian (treatment for the family dog, "Snake") Hospitals/clinics
110.00
$8,950.00
900.00 7,320.00
2,480.00
200.00 8,100.00
462.00
340.00
$4,100.00 1,400.00
900.00 584.98 40.00
Prescription medication Nonprescription aspirin Hospitalization insurance
Qualifying medical travel Taxes:
Balance due on prior year (2020) state income
tax return (paid in 2020)-- taxpayers used the standard
deduction in the prior year (2020) Real estate tax
Principal residence Vacation home No. 1
Vacation home No. 2 Personal property tax
DMV license fee Interest expense:
Principal residence Vacation home No. 1 Vacation home No. 2 Auto loan (personal vehicle)
Credit card (personal purchases) Charitable contributions:
Richmond Community Church Virginia Commonwealth University Other charities Salvation Army (clothes -- market value $370.00,
cost $1,768.00) Other expenditures:
Union dues (Carla) Investment fees
$7,912.59
1,354.69 1,921.15
554.08 762.78
$3,800.00 1,000.00
400.00
370.00
$900.00 2,120.00
Assignment
Prepare Carl and Carla's 2021 federal income tax return, submitting Form 1040 and any other required IRS forms and/or schedules. Do not prepare and attach any W-2s.
You may use any reference materials, including the text, IRS instructions, and publications. You may not obtain any assistance from or otherwise work with another individual. You may not use any software when preparing the return. Submit the return prepared with a pencil.
When submitting your return, do not submit pages or schedules that are not required. Be sure to put your name at the top of Form 1040, page 1, and also as the preparer of the return.
Tax Year 2021
Facts
Taxpayers' Data:
Names Address
Carl C. and Carla D. Cox 391 Virginal Place Richmond, Virginia 23224
111-01-XXXX 111-02-XXXX
SS Numbers:
Carl
Carla Dates of Birth:
Carl
Carla Marital Status Dependent -- Carl's mother
SS Number Date of Birth
February 6, 1976, December 30, 1978, Married joint Mary L. Cox 111-03-XXXX March 18, 1942
Taxpayers' Income -- wages
Carl's employer
Richmond Office Supply, Inc. 2231 Richmond Street Richmond, Virginia 23224
$89,800.00
Wages Withholdings:
Social Security Medicare Federal Income Tax
Virginia Income Tax Carla's employer
5,567.60
1302.01 13,000.00
5,300.00 Old Virginia Sales Company. Inc. 65 Old Virginia Parkway Richmond, Virginia 23224
$74,900.00
Wages Withholdings:
Social Security Medicare Federal Income Tax Virginia Income Tax
4.643.80
1,086.05 14,144.00 4,190.00
$1,466.05
200.00
3,800.00 492.00
Introduction To Federal Income Taxation In Canada
ISBN: 9781554965021
33rd Edition
Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett