Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2020 1040 Tax Preparation Please help with which form to use and what to put down Melissa Murray is single and has two children. (John

2020 1040 Tax Preparation

Please help with which form to use and what to put down

  1. Melissa Murray is single and has two children. (John and Mary). Melissa provides you with the following additional information:
    • Melissa lives at 430 South Michigan Avenue, Chicago, IL 60605.
    • Melissas birthday is January 1, 1980.
    • Johns birthday is March 1, 2010.
    • Marys birthday is June 30, 2020.

  • Melissas Social Security number is 007-11-4727.
  • Johns Social Security number is 005-11-7232.
  • Marys Social Security number is 004-22-3419.

  1. Melissa is employed at PwC as a Senior Audit Manager. Melissas pay stubs indicate that she had $16,000 withheld in federal taxes, and $5,000 in state taxes, as well as the appropriate Social Security and Medicare taxes.

  1. Melissa earned salary of $100,000 before subtracting her 401(k) contributions. She contributed $10,000 to her 401(k) account.

  1. In addition to the taxes withheld from her salary, Melissa also made 4 timely Federal and State payments of $1,000 per quarter for Federal and $250 per quarter for State.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fixed Income Analysis

Authors: Barbara S. Petitt

5th Edition

1119850541, 978-1119850540

Students also viewed these Accounting questions