Question: Week 6 : Comprehensive Case Study 3 Richard McCarthy is a single taxpayer living at 169 Trendie Street, Apartment 6B, La Jolla, CA 92037. His

Week 6: Comprehensive Case Study 3

Richard McCarthy is a single taxpayer living at 169 Trendie Street, Apartment 6B, La Jolla, CA 92037. His Social Security number is 865-68-9635 and his birthdate is September 18, 1972.

In 2017, Richard was employed as a delivery person for a local pizza restaurant. Richards W-2 showed the following:

Earnings from La Tasse Pizzaria $ 23,220

Federal income tax withheld 1,300

State income tax withheld 400.56

Richards only other source of income during the year was a $10,000 prize he won appearing on a game show. The game show withheld $2,800 of federal income taxes before paying Richard.

He has no other adjustments to income or deductible expenses. Unfortunately, Richards employer did not provide health care to its employees but Richard signed up for coverage through his states health care exchange. The exchange sent him a form 1095-A. His monthly enrollment premiums were $300 for a total of $3,600 for the year 2017. His monthly second lowest cost silver plan (SLCSP) Premium was $335 per month for a total of $4,020 for the year 2017. And his monthly advance payment of premium tax credit (PTC) was $143 per month for a total of $1,716 for the year 2017.

Required: Complete Richards federal tax return for 2017. Use Form 1040 and Form 8962, which can be found on the IRS website. Make realistic assumptions about any missing data.

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