Accounting Tax: reporting tax

As stated, Those information has to be included in the Actual form provided by the IRS.

Use Form 1040, Schedule A, Schedule B, Form 2106, Form 8283

Problem Set #2 John Q. Public (age 51) and his wife Karen (age 47) file a joint return. They have three children: Elizabeth S. Brown (age 24) who is a full-time law student at State Law School, Charles B Public (age 21) who is a full-time student at State College, and William F. Public (age 18) Elizabeth earned $7,500 working part-time in a law firm during the year. Charles earned $5,000 from a summer job, John and Karen provide over half the support for all three children. Karen's parents Robert T. (age 76) and Barbara J. Jones (age 75) reside in a nursing home. Barbara is legally blind. John and Karen provide over half of the support for Karen's parents. Robert and Barbara's only source of income was $22,000 in social security benefits. Both John and Karen are employed full time Address 100 Main Street Anywhere, IL 61100 Social security numbers: John Karen Elizabeth 333-65-8452 Chales 423-96-7894 William 411-63-5529 Robert Barbara 263-78-5984 333-25-9645 411-68-7541 471-29-6635 67,000 85,500 4,325 8,750 2,750 4,125 8,000 2,000 6,500 5,500 John's salary Karen's salary Federal withholding John Karen John Karen State income tax withholding Federal estimated tax payments State estimated tax payments (all paid in 2016) IRA contribution for John IRA contribution for Karen Interest income Bank interest State of Illinois bond interest 475 1.250 Medical expenses Medical insurance(paid by John) Doctors and dentists Doctor bills for Karen's mom Prescription medicine Non-prescription medicine 6,300 8,210 3.750 750 630 8,350 Real estate taxes on personal residence Charitable contributions Cash 4,350 1,750 IBM stock held for six months (basis $1,650) Interest expense Interest on loan used to purchase State 850 of llinois bonds Interest on personal auto loan Interest on home mortgage 3,255 6,575 750 2.775 From the foregoing information, prepare a 2016 or 2017 federal income tax return Miscellaneous deductions: Tax preparation fees John's unreimbursed employee expenses Travel Federal tax forms you will need: Form 1040 Schedule A Schedule B Form 2106 Form 8283 Federal tax forms can be obtained from the IRS website at www.irs.gov Problem Set #2 John Q. Public (age 51) and his wife Karen (age 47) file a joint return. They have three children: Elizabeth S. Brown (age 24) who is a full-time law student at State Law School, Charles B Public (age 21) who is a full-time student at State College, and William F. Public (age 18) Elizabeth earned $7,500 working part-time in a law firm during the year. Charles earned $5,000 from a summer job, John and Karen provide over half the support for all three children. Karen's parents Robert T. (age 76) and Barbara J. Jones (age 75) reside in a nursing home. Barbara is legally blind. John and Karen provide over half of the support for Karen's parents. Robert and Barbara's only source of income was $22,000 in social security benefits. Both John and Karen are employed full time Address 100 Main Street Anywhere, IL 61100 Social security numbers: John Karen Elizabeth 333-65-8452 Chales 423-96-7894 William 411-63-5529 Robert Barbara 263-78-5984 333-25-9645 411-68-7541 471-29-6635 67,000 85,500 4,325 8,750 2,750 4,125 8,000 2,000 6,500 5,500 John's salary Karen's salary Federal withholding John Karen John Karen State income tax withholding Federal estimated tax payments State estimated tax payments (all paid in 2016) IRA contribution for John IRA contribution for Karen Interest income Bank interest State of Illinois bond interest 475 1.250 Medical expenses Medical insurance(paid by John) Doctors and dentists Doctor bills for Karen's mom Prescription medicine Non-prescription medicine 6,300 8,210 3.750 750 630 8,350 Real estate taxes on personal residence Charitable contributions Cash 4,350 1,750 IBM stock held for six months (basis $1,650) Interest expense Interest on loan used to purchase State 850 of llinois bonds Interest on personal auto loan Interest on home mortgage 3,255 6,575 750 2.775 From the foregoing information, prepare a 2016 or 2017 federal income tax return Miscellaneous deductions: Tax preparation fees John's unreimbursed employee expenses Travel Federal tax forms you will need: Form 1040 Schedule A Schedule B Form 2106 Form 8283 Federal tax forms can be obtained from the IRS website at www.irs.gov