Question: WHY aren't my questions getting answered? :( Prepare Santander's 2021 federal income tax return. Please show all the income tax calculations used. In the end,

WHY aren't my questions getting answered? :(

Prepare Santander's 2021 federal income tax return. Please show all the income tax calculations used. In the end, I will provide a sample of the type of calculations that I need. Thank you!

Data required is in the two pictures below:

WHY aren't my questions getting answered? :( Prepare Santander's 2021 federal income

tax return. Please show all the income tax calculations used. In the

Sample:

end, I will provide a sample of the type of calculations that

FORM 1040 DATA TAX YEAR 2021 ALEX SANTANDER IS SINGLE. SHE IS 47 YEARS OLD AND IS A CONSULTANT. SHE HAS ONE CHILD, AGE 8, THAT LIVES WITH HER. HER MOTHER, AGE 80, ALSO LIVES WITH HER AND QUALIFIES AS ALEX'S DEPENDENT. ALEX QUALIFIES AS HEAD OF HOUSEHOLD. THEIR ADDRESS IS 9 ADAMS LANE EAST PROVIDENCE, RI 02914. ALEXPIETRODONATELLASANTANDERSANTANDERMASTROIANNISELFSONMOTHER037403333358741111037416112 INCOME ALEX'S SALARY: TAXABLEWAGES(FROMHERSMALLSCORPORATION)FEDERALINCOMETAXWITHHELDSTATEINCOMETAXWITHHELDTERESTINCOMEFROMCITIZENSBANKVIDENDINCOMEFROME*TRADESECURITIES(2,500AREQUALIFIEDDIVIDENDS)NG-TERMCAPITALGAINDISTRIBUTIONSFROME*TRADESECURITIES22,0001,2004001003,0001,60080 ACME COMPANY (EIN 05-3584111) S-CORPORATION K-1 SEPARATELY-STATED ITEMS. ALEX IS A STOCKHOLDER AND MATERIALLY PARTICIPATES IN THE ACTIVITY. THE ACTIVITY QUALFIES FOR THE QBI DEDUCTION. SHORT-TERMCAPITALGAININCOMEORDINARYINCOMEINTERESTINCOMESHGIFTFROMHERCOUSIN1,5002,50011015,0002,000 ALEX HAS BEEN SELF-EMPLOYED AS A CONSULTANT (BUSINESS CODE 541990) FOR MANY YEARS. SHE USES CASH BASIS ACCOUNTING. SHE WAS NOT REQUIRED TO FILE FORMS 1099-NEC FOR NON-EMPLOYEE COMPENSATION. GROSS RECEIPTS 65,000 DEDUCTIONS THESE ARE ALEX'S BUSINESS EXPENSES FROM HER CONSULTING BUSINESS: ADVERTISING TELEPHONE 700 INTERNET 1,000 EQUIPMENT RENTAL 700 LEGAL AND PROFESSIONAL FEES 1,300 500 LIABILITY INSURANCE 1,200 OFFICE SUPPPLIES EXPENSE 2,300 ALEX USES PART OF THEIR HOUSE AS A HOME OFFICE. THE TOTAL SQUARE FOOTAGE IS 2,500 AND THE BUSINESS SQUARE FOOTAGE IS 200. SHE USES THE SIMPLIFIED METHOD. ALEX USED HER CAR TO TRAVEL TO CLIENTS. SHE USES THE MILEAGE METHOD TO DEDUCT AUTO EXPENSES. TOTAL MILEAGE FOR THE YEAR WAS 17,500. BUSINESS MILEAGE FOR THE YEAR WAS 5, 750 . THE CAR IS NEW AND WAS FIRST PLACED IN SERVICE 1/1/21. SHE KEEPS A MILEAGE LOG AND ALSO HAS ACCESS TO HER MOTHER'S CAR IF NEED BE. FORM 1040 SOLUTION GROSS INCOME: FORM 1040 DATA TAX YEAR 2021 ALEX SANTANDER IS SINGLE. SHE IS 47 YEARS OLD AND IS A CONSULTANT. SHE HAS ONE CHILD, AGE 8, THAT LIVES WITH HER. HER MOTHER, AGE 80, ALSO LIVES WITH HER AND QUALIFIES AS ALEX'S DEPENDENT. ALEX QUALIFIES AS HEAD OF HOUSEHOLD. THEIR ADDRESS IS 9 ADAMS LANE EAST PROVIDENCE, RI 02914. ALEXPIETRODONATELLASANTANDERSANTANDERMASTROIANNISELFSONMOTHER037403333358741111037416112 INCOME ALEX'S SALARY: TAXABLEWAGES(FROMHERSMALLSCORPORATION)FEDERALINCOMETAXWITHHELDSTATEINCOMETAXWITHHELDTERESTINCOMEFROMCITIZENSBANKVIDENDINCOMEFROME*TRADESECURITIES(2,500AREQUALIFIEDDIVIDENDS)NG-TERMCAPITALGAINDISTRIBUTIONSFROME*TRADESECURITIES22,0001,2004001003,0001,60080 ACME COMPANY (EIN 05-3584111) S-CORPORATION K-1 SEPARATELY-STATED ITEMS. ALEX IS A STOCKHOLDER AND MATERIALLY PARTICIPATES IN THE ACTIVITY. THE ACTIVITY QUALFIES FOR THE QBI DEDUCTION. SHORT-TERMCAPITALGAININCOMEORDINARYINCOMEINTERESTINCOMESHGIFTFROMHERCOUSIN1,5002,50011015,0002,000 ALEX HAS BEEN SELF-EMPLOYED AS A CONSULTANT (BUSINESS CODE 541990) FOR MANY YEARS. SHE USES CASH BASIS ACCOUNTING. SHE WAS NOT REQUIRED TO FILE FORMS 1099-NEC FOR NON-EMPLOYEE COMPENSATION. GROSS RECEIPTS 65,000 DEDUCTIONS THESE ARE ALEX'S BUSINESS EXPENSES FROM HER CONSULTING BUSINESS: ADVERTISING TELEPHONE 700 INTERNET 1,000 EQUIPMENT RENTAL 700 LEGAL AND PROFESSIONAL FEES 1,300 500 LIABILITY INSURANCE 1,200 OFFICE SUPPPLIES EXPENSE 2,300 ALEX USES PART OF THEIR HOUSE AS A HOME OFFICE. THE TOTAL SQUARE FOOTAGE IS 2,500 AND THE BUSINESS SQUARE FOOTAGE IS 200. SHE USES THE SIMPLIFIED METHOD. ALEX USED HER CAR TO TRAVEL TO CLIENTS. SHE USES THE MILEAGE METHOD TO DEDUCT AUTO EXPENSES. TOTAL MILEAGE FOR THE YEAR WAS 17,500. BUSINESS MILEAGE FOR THE YEAR WAS 5, 750 . THE CAR IS NEW AND WAS FIRST PLACED IN SERVICE 1/1/21. SHE KEEPS A MILEAGE LOG AND ALSO HAS ACCESS TO HER MOTHER'S CAR IF NEED BE. FORM 1040 SOLUTION GROSS INCOME

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!