LO 6.2 4. Margaret and David Simmons are married and file a joint income tax return. They
Question:
LO 6.2 4. Margaret and David Simmons are married and file a joint income tax return. They have two dependent children, Margo, 4 years old (Social Security number 316-31-
4890), and Daniel, who was born during the year (Social Security number 316-31-
7894). Margaret’s wages are $4,000, and David has wages of $14,000. In addition, they receive interest income of $200 during the year. Margaret and David do not have any other items of income and do not have any deductions for adjusted gross income. Assuming the Simmons file Form 1040A for 2010, complete Schedule EIC, the Earned Income Credit Worksheet, from the 1040A Instructions on pages 6-39 and 6-40. (The Earned Income Credit table is in Appendix B.)
Step by Step Answer:
Income Tax Fundamentals 2011
ISBN: 9780538469197
29th Edition
Authors: Gerald E. Whittenburg, Martha Altus-Buller