ACCT 402

ITEMIZED DEDUCTIONS PROJECT

20 POINTS

Prepare a 2019 Schedule A for Jack O. Lantern.

The Schedule A can be found at irs.gov

This assignment is due Monday 10/12/2020, 5:30 P.M. There will be no extensions granted.

Below is the information you need to prepare Jack O. Lanterns 2019 Schedule A. Do not assume any information that is not supplied. Jacks Social Security number is 412-33-2415.

Jack O. Lantern has been divorced for 5 years and is filing as a single taxpayer. Jack has no dependents, his only child, Larry, is claimed as a dependent on Jacks ex-wifes tax return. Jacks only income is a $100,000 in wages. Jack pays $1,000 a month in child support. Jack is 40 years old. In 2019, he paid the following:

1) He paid the dentist $3,800 for a root canal and $200 for routine cleanings (the work was done on Jack).

2) He paid his own doctor and hospital bills of $4,000.

3) Jacks employer deducted $6,000 from Jacks wages for health insurance premiums for him and his son ($3,000 each).

4) In 2019, Jacks ex-wife saw a psychologist and Jack paid $1,000 of the psychologists bills.

5) Jacks son Larry was an in-patient at a drug rehabilitation facility for a month in 2019. Jack paid the total fee of $6,000, which included counseling, meals and lodging, on his credit card in December of 2019. He paid the credit card bill in January of 2020.

6) Jack paid $4,000 to a veterinarian for a heart transplant for his dog.

7) Jack paid $3,000 for real estate taxes on his principal residence.

8) He also paid $2,000 for real estate taxes on an acre of land he bought as an investment.

9) Jacks W-2 indicated that he had the following deductions: Federal income taxes withheld of $12,000, State income taxes withheld of $8,000 and FICA withheld of $6,450.

10) Jack filed his 2018 State income tax on April 15, 2019 and paid the amount due of $2,500 when he filed the return.

11) Jack lived in Maryland all of 2019. He did not have any large purchases that he paid state sales tax on.

12) Jack donated $25,000 in cash to the Church.

13) Jack gave a scooter to the Salvation Army. He had bought the scooter 2 years earlier for $1,000, at the time he donated the scooter it was worth $500.

14) Jack paid $400 for an airline ticket (directly to the airline) for his son Larry to use to go on a missionary trip.

15) Jack paid the bank $10,000 in mortgage interest on his principal residence.

16) He paid $200 interest on the lot he had bought for investment purposes.

17) He also paid $1,200 interest on his personal credit cards.

ACCT 402 ITEMIZED DEDUCTIONS PROJECT 20 POINTS Prepare a 2019 Schedule A for Jack O. Lantern. The Schedule A can be found at irs.gov This assignment is due Monday 10/12/2020, 5:30 P.M. There will be no extensions granted. Below is the information you need to prepare Jack O. Lanter's 2019 Schedule A. Do not assume any information that is not supplied. Jack's Social Security number is 412-33-2415. Jack O. Lantern has been divorced for 5 years and is filing as a single taxpayer. Jack has no dependents, his only child, Larry, is claimed as a dependent on Jack's ex-wife's tax return. Jack's only income is a $100,000 in wages. Jack pays $1,000 a month in child support. Jack is 40 years old. In 2019, he paid the following: 1) He paid the dentist S3,800 for a root canal and S200 for routine cleanings (the work was done on Jack) 2) He paid his own doctor and hospital bills of $4,000. 3) Jack's employer deducted $6,000 from Jack's wages for health insurance premiums for him and his son ($3,000 cach). 4) In 2019, Jack's ex-wife saw a psychologist and Jack paid $1,000 of the psychologist's bills. 5) Jack's son Larry was an in-patient at a drug rehabilitation facility for a month in 2019. Jack paid the total fee of $6,000, which included counseling, meals and lodging. on his credit card in December of 2019. He paid the credit card bill in January of 2020. 6) Jack paid $4,000 to a veterinarian for a heart transplant for his dog 7) Jack paid $3,000 for real estate taxes on his principal residence. 8) He also paid $2,000 for real estate taxes on an acre of land he bought as an investment. 9) Jack's W-2 indicated that he had the following deductions: Federal income taxes withheld of S12,000, State income taxes withheld of $8,000 and FICA withheld of $6,450. 10) Jack filed his 2018 State income tax on April 15, 2019 and paid the amount due of $2,500 when he filed the retum. 11) Jack lived in Maryland all of 2019. He did not have any large purchases that he paid state sales tax on 12) Jack donated $25,000 in cash to the Church. 13) Jack gave a scooter to the Salvation Army. He had bought the scooter 2 years carlier for $1,000, at the time he donated the scooter it was worth $500 14) Jack paid $400 for an airline ticket (directly to the airline) for his son Larry to use to go on a missionary trip 15) Jack paid the bank S10,000 in mortgage interest on his principal residence. 16) He paid S200 interest on the lot he had bought for investment purposes 17) He also paid S1,200 interest on his personal credit cards, ACCT 402 ITEMIZED DEDUCTIONS PROJECT 20 POINTS Prepare a 2019 Schedule A for Jack O. Lantern. The Schedule A can be found at irs.gov This assignment is due Monday 10/12/2020, 5:30 P.M. There will be no extensions granted. Below is the information you need to prepare Jack O. Lanter's 2019 Schedule A. Do not assume any information that is not supplied. Jack's Social Security number is 412-33-2415. Jack O. Lantern has been divorced for 5 years and is filing as a single taxpayer. Jack has no dependents, his only child, Larry, is claimed as a dependent on Jack's ex-wife's tax return. Jack's only income is a $100,000 in wages. Jack pays $1,000 a month in child support. Jack is 40 years old. In 2019, he paid the following: 1) He paid the dentist S3,800 for a root canal and S200 for routine cleanings (the work was done on Jack) 2) He paid his own doctor and hospital bills of $4,000. 3) Jack's employer deducted $6,000 from Jack's wages for health insurance premiums for him and his son ($3,000 cach). 4) In 2019, Jack's ex-wife saw a psychologist and Jack paid $1,000 of the psychologist's bills. 5) Jack's son Larry was an in-patient at a drug rehabilitation facility for a month in 2019. Jack paid the total fee of $6,000, which included counseling, meals and lodging. on his credit card in December of 2019. He paid the credit card bill in January of 2020. 6) Jack paid $4,000 to a veterinarian for a heart transplant for his dog 7) Jack paid $3,000 for real estate taxes on his principal residence. 8) He also paid $2,000 for real estate taxes on an acre of land he bought as an investment. 9) Jack's W-2 indicated that he had the following deductions: Federal income taxes withheld of S12,000, State income taxes withheld of $8,000 and FICA withheld of $6,450. 10) Jack filed his 2018 State income tax on April 15, 2019 and paid the amount due of $2,500 when he filed the retum. 11) Jack lived in Maryland all of 2019. He did not have any large purchases that he paid state sales tax on 12) Jack donated $25,000 in cash to the Church. 13) Jack gave a scooter to the Salvation Army. He had bought the scooter 2 years carlier for $1,000, at the time he donated the scooter it was worth $500 14) Jack paid $400 for an airline ticket (directly to the airline) for his son Larry to use to go on a missionary trip 15) Jack paid the bank S10,000 in mortgage interest on his principal residence. 16) He paid S200 interest on the lot he had bought for investment purposes 17) He also paid S1,200 interest on his personal credit cards