Schedule A |
||
Medical & Dental Expenses |
0 |
|
Taxes paid |
||
Real estate tax |
2500 |
|
Interest paid |
||
Mortgage interest |
4500 |
|
Gifts to Charity |
3500 |
|
Unreimbursed Job Expenses |
10905 |
|
Total Itemised deductions |
21405 |
|
Form 1040 |
||
Salary received |
80000 |
|
Business Income |
2789 |
|
Total Income |
82789 |
|
Less : Schedule A |
-21405 |
|
Total |
61384 |
|
3800*2 |
7600 |
|
Taxable Income |
53784 |
|
0-8500 |
10% |
850 |
8500 - 34500 |
15% |
3900 |
34500-61384 |
25% |
6721 |
Total Tax |
11471 |
|
Less: Taxes Witheld |
10300 |
|
Total Tax payable |
1171 |
|
Schedule C |
||
Income from Rubber toy Boat |
||
Repair |
15000 |
|
Less |
||
Cost of Supplies |
5000 |
|
Contract Labour |
3500 |
|
Business Phone calls |
500 |
|
Total |
6000 |
|
Less : Form 8829 Expenses |
3211 |
|
Total Business Income |
2789 |
|
Form 2106 |
||
Car expenses |
9990 |
|
Travelling expenses |
665 |
|
Meals expenses |
5500 |
|
16155 |
||
Less Reimbursements |
5000 |
|
Expenses allowed |
250 |
|
Total |
10905 |
|
Form 8829 |
||
25% used for Business |
||
Income from Business |
6000 |
|
Less |
||
Mortgage Interest |
1125 |
|
Real estate taxes |
625 |
|
Utility bills |
500 |
|
Depreciation |
961 |
|
Total |
2789 |
|
Depreciation calculation |
||
Adjusted cost |
170000 |
|
Less: Value of land |
20000 |
|
150000 |
||
Basis of building |
37500 |
|
Depreciation |
2.56% |
|
961.5 |
using the information fill out the 1040 tax form 1:9-72 George Large (SSN 000-11-1111) and his...
Complete the following forms George Large (SSN 000-11-1111) and his wife Marge Large (SSN 000-22-2222) live at 2000 Lakeview Drive, Cleveland, OH 49001 and want you to prepare their 2017 income tax return based on the information below: George Large worked as a salesman for Toyboat, Inc. He received a salary of $80,000 ($8,500 of federal income taxes withheld and $1,800 of state income taxes withheld) plus an expense reimbursement from Toyboat of $5,000 to cover his employee business expenses....
George Large (SSN 000-11-1111) and his wife Marge Large (SSN 000-22-2222) live at 2000 Lakeview Drive, Cleveland, OH 49001 and want you to prepare their 2018 income tax return based on the information below: George Large worked as a salesman for Toyboat, Inc. He received a salary of $80,000 ($8,500 of federal income taxes withheld and $1,800 of state income taxes withheld) plus an expense reimbursement from Toyboat of $5,000 to cover his employee business expenses. George must make an...
total itemized deductions are given - $12,300 using the information, fill out SCHEDULE A 2018 FORM 1:9-72 George Large (SSN 000-11-1111) and his wife Marge Large (SSN 000-22-2222) live at 2000 Lakeview Drive, Cleveland, OH 49001 and want you to prepare their 2017 income tax return based on the information below: George Large worked as a salesman for Toyboat, Inc. He received a salary of $80,000 ($8,500 of federal income taxes withheld and $1,800 of state income taxes withheld) plus...
Form 1040 Complete Patty's Form 1040 Form Department of the Treasury-Internal Revenue Service (99) 1040 U.S. Individual Income Tax Return2018 OMB No. 1545-0074 IRS Use Only Filing status: Single Your first name and initial Patty Your standard deduction: None Your social security number 466-33-1234 Last name Banyan If joint return, spouse's first name and initial Last name Spouse's social security number Full-year health care coverage or exempt (see inst.) Spouse standard deduction: None Home address (number and street). If you...
Prepare an individual income tax return. Complete problem 9-72 in your textbook. All applicable tax forms are required to be submitted. Utilize the attached "Tax Return 2018 Forms" document to assist you with this project. Form 1040 Schedule 1, Form 1040 Schedule 4, Form 1040 Schedule C, Form 1040 Schedule SE, Form 1040 Disregard the last part (Prepare Form 1040, Schedules A,C, and SE for forms 1040, and Form 2016 for 2018 year) those forms are not needed only the...
You are to prepare a tax return using the following information. You will need to use Form 1040, Schedule B if applicable, you determine (Read requirements in text). John Brown, age 53, (social security number 554-78-4556) is single and is supporting his 18 year old son, David (social security number 444-55-7777). David is a student at MirMonte High School. They live in a rented home at 1245 West 5Th Street, Coalinga, CA. John is employed as a engineer and received...
Alfred E. Old and Beulah A. Crane, each age 42, married on September 7, 2016. Alfred and Beulah will file a joint return for 2018. Alfred's Social Security number is 111-11-1112. Beulah's Social Security number is 123-45-6789, and she adopted "Old" as her married name. They live at 211 Brickstone Drive, Atlanta, GA 30304. Alfred was divorced from Sarah Old in March 2016. Under the divorce agreement, Alfred is to pay Sarah $1,250 per month for the next 10 years...
is problem is for the 2018 tax year. Alfred E. Old and Beulah A. Crane, each age 12, married on September 7, 2016. Alfred and Beulah will file a joint return for 2018. Alfred's Social Security number is 111-11-1109. Beulah's Social Security number is 123-45-6780, and she adopted old as her married name. They live at 211 Brickstone Drive, Atlanta, GA 30304 Alfred was divorced from Sarah Old in March 2016. Under the divorce agreement, Alfred is to pay Sarah...
Required information (The following information applies to the questions displayed below.) Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from corporate bonds. Marc contributed $2,500 to an individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,500 (under a divorce decree effective June 1, 2005). Marc and Michelle have a 10-year-old son,...
what amount goes on 12a Tax? 1040 of 2019 1040 for a couple Married Filing Jointly with no dependents. 1040 PG 1 1040 PG 2 Page 2 of Form 1040. Some information does not carry over from Page 1 Form 1040 (2019) Holloway Holloway 412-34-5670 Page 2 John 12a Tax (see inst. Check it any from Form(s) (1) 8814 Martha 12) 4972 (3) 3,677 ® b Add Schedule 2. line 3, and line 12 and enter the total 3,677 13a...