Question: Tax return problem Tax Return Problem 2 In 2017, John and Shannon O'Banion, who live at 3222 Pinon Drive, Mesa, CO 81643, file as married

Tax return problem  Tax return problem Tax Return Problem 2 In 2017, John and
Shannon O'Banion, who live at 3222 Pinon Drive, Mesa, CO 81643, file

Tax Return Problem 2 In 2017, John and Shannon O'Banion, who live at 3222 Pinon Drive, Mesa, CO 81643, file as married filing jointly. John's social security number is 412-34-5670 (date of birth 5/12/1979), and Shannon's is 412- 34-5671 (date of birth 11/3/1981). John and Shannon had qualifying health care coverage at all times during the tax year John's W-2 contained the following information: Wages (box 1)$66,346.74 Federal W/H (box 2) S 6,583.85 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 no federal withholding. In the same year, they had the following medical costs: Shannon's prescribed diabetes medication Shannon's hospital charges Shannon's regular physician visits Shannon's eye doctor Shannon's diabetes blood testing supplies Insurance reimbursements $2,150 8,350 835 75 185 1,910 In addition, they had the following other expenses: $2,950 1,170 500 265 635 State income taxes Real estate property taxes Car loan interest Personal property taxes Cash charitable contributions (made ratably throughout the year to their church) Mortgage interest expense Union dues for John Tax preparation fees 7,970 575 175 Prepare a Form 1040 and Schedule A for the O'Banions using any appropriate worksheets. page 5-49

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!