Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Accounting 301 Tax Return Assignment No. 2 Tax Year 2018 Fall, 2020 Facts Taxpayers' Data: Names Address Benjamin A. and Brenda B. Baker 26 Snead

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Accounting 301 Tax Return Assignment No. 2 Tax Year 2018 Fall, 2020 Facts Taxpayers' Data: Names Address Benjamin A. and Brenda B. Baker 26 Snead Place Richmond, Virginia 23224 222-33-4444 333-44-5555 Bookkeeper Office Manager SS Numbers: Benjamin Brenda Occupations: Benjamin Brenda Dates of Birth: Benjamin Brenda Marital Status Dependents Taxpayers' Income -- wages Benjamin's employer January 6, 1988 November 30, 1986 Married joint None Richmond Advertising Services, Inc. 4578 Broad Street Richmond, Virginia 23224 $52,000.00 Wages Withholdings: Social Security Medicare Federal Income Tax Virginia Income Tax Brenda's employer 3,224.00 754.00 7,000.00 1,400.00 Dominion Engineering Company PC 65 Elm Street Richmond, Virginia 23224 590,000.00 Wages Withholdings Social Security Medicare Federal Income Tax Virginia Income Tax 5,580.00 1.305.00 12,000.00 2.510.00 Other income: Interest income Third Virginia Bank (Benjamin Lee Saving Bank lointi S. Smart S&L (Brenda) Dividend Income (aliqualifying in naturel Floyd Company Goint) 350.00 600.00 40.00 5590.00 Assume that taxpayers are covered by qualifying health insurance for all of 2019 Assament Facts Taxpayer Data: Name Christopher A. Able Address 86 VCU Way Richmond, Virginia 23224 55 Number 333-22-1111 Occupation Asst. Manager Date of Birth November 30, 1976 Marital Status Single (divorced) Dependents None Taxpayer income Employer The Acme Company, Inc. 23 Ram Time Boulevard Richmond, Virginia 23224 W-2 Data: Wages $40,000.00 Withholdings: Social Security 2,480.00 Medicare 580.00 Federal income tax 5,00.00 Virginia income tax 1200.00 Other income: Interest Income, Ram One National Bank 205.00 Dividend income (all qualified), Acme, Inc. 300.00 During 2019, Christopher received alimony of $12,000 from his ex-spouse, Honey). Able. Honey's social security number is 222-33-4444. The alimony was paid pursuant to a 2012 divorce decree. Assume that Christopher had health insurance coverage for all of 2019. Assignment Prepare Christopher's 2019 federal income tax return, submitting Form 940 and any other required IRS forms and/or schedules. Do not prepare and attach a W-2 for the taxpayer You may use any reference materials, including the text, IRS instructions and publications. You may find it.co to be an excellent reference resource. You may not obtain any assistance from, or otherwise work with, another individual. You may not use any software when preparing the return. Submit the return prepared entirely with a pencil. Do not type (or POF) the return Insert your name printed on the paid Preparer line on Form 1040 and also on the top of page 1 of the return You may od IRS Publication 17 and the IRS instructions for Form 1040 to be excellent resources Facts Taxpayers' Data: Names Address Benjamin A and Brenda B. Baker 26 Snead Place Richmond, Virginia 23224 222-33-4444 333-44-5555 Bookkeeper Office Manager SS Numbers Benjamin Brenda Occupations: Benjamin Brenda Dates of Birth: Benjamin Brenda Marital Status Dependents Taxpayers' Income -- wages Benjamin's employer January 6, 1988 November 30, 1986 Married joint None Richmond Advertising Services, Inc. 4578 Broad Street Richmond, Virginia 23224 $52,000.00 Wages Withholdings Social Security Medicare Federal Income Tax Virginia Income Tax 3,224.00 754.00 7,000.00 1,400.00 Brenda's employer Dominion Engineering Company PC 65 Elm Street Richmond, Virginia 23224 $90,000.00 Wages Withholdings: Social Security Medicare Federal Income Tax Virginia Income Tax 5,580.00 1,305.00 12,000.00 2.510.00 Other Income: Interest Income Third Virginia Bank (Benjamin) Le Saving Bank (joint) 5. Smart S&L (Brenda) Dividend income (al qualifying in nature) Floyd Company (joint) 350.00 600.00 40.00 $590.00 Assume that taxpayers are covered by qualifying health insurance for all of 2019 Assignment Prepare Benjamin and Brendsson 2019 federal income tax return, suomitting For 1040 and any other required forms and/or schedules. Do not prepare and attach any W-25 You may use any reference materials, including the text, is instructions and publications. You may not obtain any assistance from or otherwise work with another individual. You may not ne Assignment Prepare Benjamin and Brenda'sjoint 2019 federal income tax return, submitting Form 1040 and any other required IRS forms and/or schedules. Do not prepare and attach any W-25. You may use any reference materials, including the text, IRS Instructions and publications. You may not obtain any assistance from or otherwise work with another individual. You may not use any software when preparing the return. Submit the return (stapled please) prepared with pencil Accounting 301 Tax Return Assignment No. 2 Tax Year 2018 Fall, 2020 Facts Taxpayers' Data: Names Address Benjamin A. and Brenda B. Baker 26 Snead Place Richmond, Virginia 23224 222-33-4444 333-44-5555 Bookkeeper Office Manager SS Numbers: Benjamin Brenda Occupations: Benjamin Brenda Dates of Birth: Benjamin Brenda Marital Status Dependents Taxpayers' Income -- wages Benjamin's employer January 6, 1988 November 30, 1986 Married joint None Richmond Advertising Services, Inc. 4578 Broad Street Richmond, Virginia 23224 $52,000.00 Wages Withholdings: Social Security Medicare Federal Income Tax Virginia Income Tax Brenda's employer 3,224.00 754.00 7,000.00 1,400.00 Dominion Engineering Company PC 65 Elm Street Richmond, Virginia 23224 590,000.00 Wages Withholdings Social Security Medicare Federal Income Tax Virginia Income Tax 5,580.00 1.305.00 12,000.00 2.510.00 Other income: Interest income Third Virginia Bank (Benjamin Lee Saving Bank lointi S. Smart S&L (Brenda) Dividend Income (aliqualifying in naturel Floyd Company Goint) 350.00 600.00 40.00 5590.00 Assume that taxpayers are covered by qualifying health insurance for all of 2019 Assament Facts Taxpayer Data: Name Christopher A. Able Address 86 VCU Way Richmond, Virginia 23224 55 Number 333-22-1111 Occupation Asst. Manager Date of Birth November 30, 1976 Marital Status Single (divorced) Dependents None Taxpayer income Employer The Acme Company, Inc. 23 Ram Time Boulevard Richmond, Virginia 23224 W-2 Data: Wages $40,000.00 Withholdings: Social Security 2,480.00 Medicare 580.00 Federal income tax 5,00.00 Virginia income tax 1200.00 Other income: Interest Income, Ram One National Bank 205.00 Dividend income (all qualified), Acme, Inc. 300.00 During 2019, Christopher received alimony of $12,000 from his ex-spouse, Honey). Able. Honey's social security number is 222-33-4444. The alimony was paid pursuant to a 2012 divorce decree. Assume that Christopher had health insurance coverage for all of 2019. Assignment Prepare Christopher's 2019 federal income tax return, submitting Form 940 and any other required IRS forms and/or schedules. Do not prepare and attach a W-2 for the taxpayer You may use any reference materials, including the text, IRS instructions and publications. You may find it.co to be an excellent reference resource. You may not obtain any assistance from, or otherwise work with, another individual. You may not use any software when preparing the return. Submit the return prepared entirely with a pencil. Do not type (or POF) the return Insert your name printed on the paid Preparer line on Form 1040 and also on the top of page 1 of the return You may od IRS Publication 17 and the IRS instructions for Form 1040 to be excellent resources Facts Taxpayers' Data: Names Address Benjamin A and Brenda B. Baker 26 Snead Place Richmond, Virginia 23224 222-33-4444 333-44-5555 Bookkeeper Office Manager SS Numbers Benjamin Brenda Occupations: Benjamin Brenda Dates of Birth: Benjamin Brenda Marital Status Dependents Taxpayers' Income -- wages Benjamin's employer January 6, 1988 November 30, 1986 Married joint None Richmond Advertising Services, Inc. 4578 Broad Street Richmond, Virginia 23224 $52,000.00 Wages Withholdings Social Security Medicare Federal Income Tax Virginia Income Tax 3,224.00 754.00 7,000.00 1,400.00 Brenda's employer Dominion Engineering Company PC 65 Elm Street Richmond, Virginia 23224 $90,000.00 Wages Withholdings: Social Security Medicare Federal Income Tax Virginia Income Tax 5,580.00 1,305.00 12,000.00 2.510.00 Other Income: Interest Income Third Virginia Bank (Benjamin) Le Saving Bank (joint) 5. Smart S&L (Brenda) Dividend income (al qualifying in nature) Floyd Company (joint) 350.00 600.00 40.00 $590.00 Assume that taxpayers are covered by qualifying health insurance for all of 2019 Assignment Prepare Benjamin and Brendsson 2019 federal income tax return, suomitting For 1040 and any other required forms and/or schedules. Do not prepare and attach any W-25 You may use any reference materials, including the text, is instructions and publications. You may not obtain any assistance from or otherwise work with another individual. You may not ne Assignment Prepare Benjamin and Brenda'sjoint 2019 federal income tax return, submitting Form 1040 and any other required IRS forms and/or schedules. Do not prepare and attach any W-25. You may use any reference materials, including the text, IRS Instructions and publications. You may not obtain any assistance from or otherwise work with another individual. You may not use any software when preparing the return. Submit the return (stapled please) prepared with pencil

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Students also viewed these Accounting questions