For each family, complete a form 1040, Schedule A, and Schedule B to find total itemized deductions,
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Donald and Barbara Mims are married with one child, Ashley. Donald is a piano tuner and Barbara is a car detailer. Donald's W-2 is shown and Barbara's W-2 provided her wages as $49,800 and the amount withheld for federal income tax as $8,123.
They received $556 in bank interest and $412 in stock dividends.
Their itemized deductions are: Medical expenses: doctors $1,770, dentists $2,300
Taxes: $7,600 Interest Paid: $5,290 Contributions: cash $270, used clothing $200 Casualty and Theft Loss: $12,000 Job Expenses: union dues $400, tax preparation fees $175?
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Related Book For
Financial Algebra advanced algebra with financial applications
ISBN: 978-0538449670
1st edition
Authors: Robert K. Gerver
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