Tax Return Assignment - Part ! i Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question The following information applies to the questions displayed below. ] Reba Dixon is a fifth-grade school teacher who earned a salary of $40,000 in 2023. She is 45 years old and receives $1,200 of alimony payments each month from her former husband (divorced in 2016). Reba also rents out a small Part 1 of 3 apartment building. This year Reba received $50,000 of rental payments from tenants, and she incurred $19,500 of expenses associated with the rental. Reba and her daughter Heather (20 years old at the end of the year) moved to Georgia in January of this year. Reba provides more than one-half of Heather's support. They had been living in Colorado for the past 15 years, but ever since point her divorce, Reba has been wanting to move back to Georgia to be closer to her family. Luckily, last December, a teaching position opened up and Reba and Heather decided to make the move. Reba paid a moving company $2,350 to move their personal belongings, and she and Heather spent two days driving the 1,700 miles to Georgia. Reba rented a home in Georgia. Heather decided to continue living at home with her mom, but she started attending school full time in January and throughout the rest of the year at a nearby university. She was awarded a $3,510 partial tuition scholarship this year, and Reba helped out by paying the remaining $500 tuition cost. If possible, Reba thought it would be best to claim the education credit for these expenses. Reba wasn't sure if she would have enough items to help her benefit from itemizing on her tax return. However, she kept track of several expenses this year that she thought might qualify if she was able to itemize. Reba paid $6,870 in state income taxes and $14,820 in charitable contributions during the year. She also paid the following medical-related expenses for herself and Heather: Insurance premiums $ 2,416 Medical care expenses Prescription medicine *$'520 Nonprescription medicine New contact lenses for Heather Shortly after the move, Reba got distracted while driving and ran into a street sign. The accident caused $1,070 in damage to the car and gave her whiplash. Because the repairs were less than her insurance deductible, she paid the entire cost of the repairs. Reba wasn't able to work for two months after the accident. Fortunately, she received $2,000 from her disability insurance. Her employer, the Central Georgia School District, paid 60 percent of the premiums on the policy as a nontaxable fringe benefit, and Reba paid the remaining 40 percent portion. A few years ago, Reba acquired several investments with her portion of the divorce settlement. This year she reported the following income from her investments: $2,200 of interest income from corporate bonds and $1,840 interest income from City of Denver municipal bonds. Overall, Reba's stock portfolio appreciated by $14,210, but she did not sell any of her tocks. Heather reported $6,600 of interest income from corporate bonds she received as gifts from her father over the last several years. This was Heather's only source of income for the year. Reba had $11,840 of federal income taxes withheld by her employer. Heather made $1,170 of estimated tax payments during the year. Reba did not make any estimated payments. a-1. Determine Reba's federal income taxes due or taxes payable for the current year. Tax Rate Schedule. Note: Do not round intermediate values. Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable. Answer is not complete. Description Amount Gross Income: Salary 40,000 Alimony received 14,400 Rental receipts 50,000 Disability insurance payments 1.200. Interest income from corporate bond $ 2,200 Interest income from municipal bonds (1) Gross income $ 107,800 Deductions for AGI: Expenses for rental property 19,500 (2) Total for AGI deductions 19,500 (3) AGI BB,300 From AGI deductions Medical expenses 4.608 State income taxes $ 6,870 Charitable contributions 4.820 (4) Total itemized deductions 26.298 (5) Standard deduction 20,800 (7) Taxable income 62,002 (8) Tax on taxable income 7.341 . (9) Credits 585 (10) Tax prepayments 11,840 Graw Tax Return Assignment - Part ! Saved Help Save & Exit Submit This question will be sent to your instructor for grading. 2 Required information The following information applies to the questions displayed below. ] Part 2 of 3 Reba Dixon is a fifth-grade school teacher who earned a salary of $40,000 in 2023. She is 45 years old and receives $1,200 of alimony payments each month from her former husband (divorced in 2016). Reba also rents out a small apartment building. This year Reba received $50,000 of rental payments from tenants, and she incurred $19,500 of expenses associated with the rental. 0 points Reba and her daughter Heather (20 years old at the end of the year) moved to Georgia in January of this year. Reba Skipped provides more than one-half of Heather's support. They had been living in Colorado for the past 15 years, but ever since her divorce, Reba has been wanting to move back to Georgia to be closer to her family. Luckily, last December, a teaching position opened up and Reba and Heather decided to make the move. Reba paid a moving company $2,350 to move their personal belongings, and she and Heather spent two days driving the 1,700 miles to Georgia. eBook Reba rented a home in Georgia. Heather decided to continue living at home with her mom, but she started attending school full time in January and throughout the rest of the year at a nearby university. She was awarded a $3,510 partial tuition scholarship this year, and Reba helped out by paying the remaining $500 tuition cost. If possible, Reba thought it Print would be best to claim the education credit for these expenses. Reba wasn't sure if she would have enough items to help her benefit from itemizing on her tax return. However, she kept track of several expenses this year that she thought might qualify if she was able to itemize. Reba paid $6,870 in state References income taxes and $14,820 in charitable contributions during the year. She also paid the following medical-related expenses for herself and Heather: Insurance premiums $ 3,416 Medical care expenses Prescription medicine $ 520 Nonprescription medicine New contact lenses for Heather $ 206 Shortly after the move, Reba got distracted while driving and ran into a street sign. The accident caused $1,070 in damage to the car and gave her whiplash. Because the repairs were less than her insurance deductible, she paid the entire cost of the repairs. Reba wasn't able to work for two months after the accident. Fortunately, she received $2,000 from her disability insurance. Her employer, the Central Georgia School District, paid 60 percent of the premiums on the policy as a nontaxable fringe benefit, and Reba paid the remaining 40 percent portion. A few years ago, Reba acquired several investments with her portion of the divorce settlement. This year she reported the following income from her investments: $2,200 of interest income from corporate bonds and $1,840 interest income from City of Denver municipal bonds. Overall, Reba's stock portfolio appreciated by $14,210, but she did not sell any of her stocks Heather reported $6,600 of interest income from corporate bonds she received as gifts from her father over the last several years. This was Heather's only source of income for the year Reba had $11,840 of federal income taxes withheld by her employer. Heather made $1,170 of estimated tax payments during the year. Reba did not make any estimated payments. a-2. Complete pages 1 and 2 of Form 1040 for Reba. Note: Visit the IRS website and download Form 1040. Enter the required values in the appropriate fields. Save your completed Tax Form to your computer and then upload it here by clicking "Browse." Next, click "Save." Use 2023 tax rules regardless of the year on the form. upload a response file (15MB max) Choose File No file chosen save Graw Tax Return Assignment - Part ! Saved Help Save & Exit Submit Check my work 3 Required information Part 3 of 3 [The following information applies to the questions displayed below. ] Reba Dixon is a fifth-grade school teacher who earned a salary of $40,000 in 2023. She is 45 years old and receives $1,200 of alimony payments each month from her former husband (divorced in 2016). Reba also rents out a small points apartment building. This year Reba received $50,000 of rental payments from tenants, and she incurred $19,500 of expenses associated with the rental. Reba and her daughter Heather (20 years old at the end of the year) moved to Georgia in January of this year. Reba provides more than one-half of Heather's support. They had been living in Colorado for the past 15 years, but ever since Book her divorce, Reba has been wanting to move back to Georgia to be closer to her family. Luckily, last December, a teaching position opened up and Reba and Heather decided to make the move. Reba paid a moving company $2,350 to move their personal belongings, and she and Heather spent two days driving the 1,700 miles to Georgia. Print Reba rented a home in Georgia. Heather decided to continue living at home with her mom, but she started attending school full time in January and throughout the rest of the year at a nearby university. She was awarded a $3,510 partial References tuition scholarship this year, and Reba helped out by paying the remaining $500 tuition cost. If possible, Reba thought it would be best to claim the education credit for these expenses. Reba wasn't sure if she would have enough items to help her benefit from itemizing on her tax return. However, she kept track of several expenses this year that she thought might qualify if she was able to itemize. Reba paid $6,870 in state income taxes and $14,820 in charitable contributions during the year. She also paid the following medical-related expenses for herself and Heather: Insurance premiums $ 9,416 Medical care expenses Prescription medicine $ 528 Nonprescription medicine New contact lenses for Heather Shortly after the move, Reba got distracted while driving and ran into a street sign. The accident caused $1,070 in damage to the car and gave her whiplash. Because the repairs were less than her insurance deductible, she paid the entire cost of the repairs. Reba wasn't able to work for two months after the accident. Fortunately, she received $2,000 from her disability insurance. Her employer, the Central Georgia School District, paid 60 percent of the premiums on the policy as a nontaxable fringe benefit, and Reba paid the remaining 40 percent portion. A few years ago, Reba acquired several investments with her portion of the divorce settlement. This year she reported the following income from her investments: $2,200 of interest income from corporate bonds and $1,840 interest income from City of Denver municipal bonds. Overall, Reba's stock portfolio appreciated by $14,210, but she did not sell any of her stocks. Heather reported $6,600 of interest income from corporate bonds she received as gifts from her father over the last several years. This was Heather's only source of income for the year. Reba had $11,840 of federal income taxes withheld by her employer. Heather made $1,170 of estimated tax payments during the year. Reba did not make any estimated payments. Required: b. Is Reba allowed to file as a head of household or single? c. Determine the amount of FICA taxes Reba was required to pay on her salary. Note: Round your final answer to the nearest whole dollar amount. d. Determine Heather's federal income taxes due or payable. Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. Note: Round your intermediate computations and final answer to the nearest whole dollar amount. b. Status of taxpayer Head of household c. FICA taxes Grow