Question: Tax Return Problem 10-Points Due 3/11/23(11:00 PM) -Robert A. Kinter, age 70, is single and has no dependents. Robert's Social Security number is 111-11- 1115.
Tax Return Problem 10-Points Due 3/11/23(11:00 PM) -Robert A. Kinter, age 70, is single and has no dependents. Robert's Social Security number is 111-11- 1115. His address is 727 Big Horn Avenue, Lanham, MD 20756. He has no investment in virtual currency. He wants to contribute $3 to the Presidential Election Campaign Fund. The following describes activities which Robert was engaged in during 2022. Required: Prepare the 2022 Tax return for Robert Kintner. Complete the following and submit through BB. 1. F-1040 through to line 16. 2. Schedule-1 -Robert owns and operates a part time tax practice. In 2022, his Net income/profit from that business (reported on Schedule C), totaled 25,900. -He also owns Real Estate on the Eastern Shore which he rents to unrelated parties. In 2022, his Net rental income (reported on Schedule E) totaled $12,000. -Robert is also a fulltime employee at Nationwide Bank, Inc. The following information is shown on his Wage and Tax Statement (Form W-2) for 2022. Description Amount Wages, tips, other compensation $100,000.00 Federal income tax withheld 12,500.00 Social Security wages 100,000.00 Social Security tax withheld 6,200.00 Medicare wages and tips 100,000.00 Medicare tax withheld 1,450.00 State MD State wages, tips, etc. 100,000.00 State income tax withheld 3,954.00 -During the year, Robert received $1,500 interest income from municipal bonds. He also received ordinary dividends of $1,900 from Orangee Corporation. -Assume Robert has the following deductions: - itemized deductions 0 - Student Loan deduction 4,000 -Assume Qualified Business Income Deduction is 0
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
