John R. Lane (SSN 111-44-6666) lives at 1010 Ipsen Street, Yorba Linda, California 90102. John, a single
Question:
John R. Lane (SSN 111-44-6666) lives at 1010 Ipsen Street, Yorba Linda, California 90102. John, a single taxpayer, age 66, provided 60% of his cousin’s support. The cousin lives in Arizona. He wants to take advantage of the presidential election campaign checkoff. John was employed as an accountant before he retired during the year. Other relevant information includes
Salary ............................................................ $50,000
Pension (all taxable) ......................................41,000
Taxable interest income .....................................240
Deductible contribution to IRA .......................6,000
Withholdings (Form W-2) ..............................12,100
John’s itemized deductions total $11,000 (none of which are charitable contributions). John does not have any transactions involving virtual currency. Complete Form 1040-SR and Schedule 1 for 2021. Assume any estimated tax penalty is zero.
Step by Step Answer:
Pearsons Federal Taxation 2023 Comprehensive
ISBN: 9780137840656
36th Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S Hulse