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6. Choosing and preparing an individual tax form. Liam McKenzie is single, graduated from college in 2018 and began work as a systems analyst in
6. Choosing and preparing an individual tax form. Liam McKenzie is single, graduated from college in 2018 and began work as a systems analyst in July of that year. He is preparing to file his income tax return for 2018 and has collected the financial information shown below for that calendar year A blank Form 1040 and Schedule 1 may be obtained at www.IRS.gov. $ 5,750 1,850 55,000 Scholarship used to pay tuition Scholarship used to pay room and board Salary Interest income Potential itemized deductions Income taxes withheld 185 3,000 2,600 a. Prepare Liam's 2018 tax return, using a $12,000 standard deduction and the tax rates given in Exhibit 3.3. b. Prepare Liam's 2018 tax return using the data in part a along with the following information: IRA contribution Cash dividends received $5,000 150
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