Question: Tax Return I Please prepare the required 2 0 2 3 tax forms for Hiccup and Astrid Haddock. FACTS Hiccup and Astrid were married in

Tax Return I
Please prepare the required 2023 tax forms for Hiccup and Astrid Haddock.
FACTS
Hiccup and Astrid were married in February 2023, and wish to file jointly. On December 28,
2023, they had twins, a daughter, Zephyr (SSN 123-00-6789), and a son Nuffink (SSN: 987-00-
1234). Hiccup works as a Dragon Trainer and receives a W-2 and Astrid works as a Rescue
Rider and also receives a W-2. Hiccup and Astrid are both 32 and neither are blind.
In addition to the information supplied in their income and expense reporting forms that they
received from third parties, they have gathered the following additional information for use in
preparing their 2023 tax return.
Due to her feats of bravery, Astrid was given an award by the Governing Board of Rescue
Riders in the amount of $22,000. It said For always staying calm in the face of danger, and
always protecting those around her. Needless to say Hiccup and the kids were very proud. In
early March during one of his training sessions Hiccup found a dragon eye lens worth $14,000.
He took it to the local lost and found on Berk, but after six months of no one claiming it the lens
was given back to Hiccup.
Both Hiccup and Astrid had been married previously and both were receiving alimony from
their divorce. Hiccup receives $24,000 annually from Ruffnut from their divorce on June 18,
2018. While Astrid receives $18,000 annually from Tuffnut from their divorce on January 25,
2019.
They also received a wedding gift of $40,000 from Stoick the Vast, Hiccups dad. And they
made four equal estimated payments of $5,000 each.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!