Alfred E. Old and Beulah A. Crane, each age 42, married on September 7, 2018. Alfred and Beulah will file a joint return for 2020. Alfred's Social Security number is 111-11-1109. Beulah's Social Security number is 123-45-6780, and she has chosen to use "Old" as her married name. They live at 211 Brickstone Drive, Atlanta, GA 30304. Alfred was divorced from Sarah Old in March 2017. Under the divorce agreement, Alfred is to pay Sarah $1,250 per month for the next 10 years or until Sarah's death, whichever occurs first. Alfred paid Sarah \$15,000 in 2020. In addition, in January 2020, Alfred paid Sarah $50,000, which is designated as being for her share of the marital property. Also, Alfred is responsible for all prior years' income taxes. Sarah's Social Security number is 123-45-6788. Alfred's salary for 2020 is $150,000. He is an executive working for Cherry, Inc. (Federal I.D. No. 98-7654321). As part of his compensation package, Cherry provides him with group term life insurance equal to twice his annual salary. His employer withheld $24,900 for Federal income taxes and $8,000 for state income taxes. The proper amounts were withheld for FICA taxes. Beulah recently graduated from law school and is employed by Legal Aid Society, Inc. (Federal I.D. No. 11-1111111), as a public defender. She received a salary of $42,000 in 2020 . Her employer withheld $7,500 for Federal income taxes and $2,400 for state income taxes. The proper amounts were withheld for FICA taxes. Alfred and Beulah received taxable interest income of $500. Alfred and Beulah received a $1,900 refund on their 2019 state income taxes; they claimed the standard deduction on their 2019 Federal income tax return. Alfred and Beulah paid $4,500 interest and $1,450 property taxes on their personal residence in 2020 . They paid sales taxes of $1,400, for which they maintain the receipts. Alfred and Beulah have never owned or used any virtual currency, and they do not want to contribute to the Presidential Election Campaign. Alfred and Beulah received the appropriate coronavirus recovery rebates (economic impact payments); related questions in ProConnect Tax should be ignored. Required: Compute the Olds' net tax payable (or refund due) for 2020. Use Form 1040 and Schedule 1 to complete this tax return. - It may be necessary to complete the tax schedule and worksheet before completing Form 1040. - Enter all amounts as positive numbers. - If an amount box does not require an entry or the answer is zero, enter " 0 ". - Make realistic assumptions about any missing data. - When computing the tax liability, do not round your immediate calculations. If required round your final answers to the nearest dollar. - Use the 2020 Tax Rate Schedule provided. Do not use the Tax Tables. 15 Taxable income. Subtract line 14 from line 11. If zero or less, enter 0 15 25x d Add lines 25 a through 25c - If you have a qualifying child, attach Sch. EIC. 27 - If you have nontaxable combat pay, see instructions. 2020 estimated tax payments and amount applied from 2019 return Earned income credit (EIC) . 29 30 31 Amount from Schedule 3 , line 13 . American opportunity credit from Form 8863 , line 8 Recovery rebate credit. See instructions 32 Add lines 27 through 31. These are your total other payments and refundable credits 33 Add lines 25d,26, and 32 . These are your total payments Refund 34 If line 33 is more than line 24 , subtract line 24 from line 33 . This is the amount you overpaid 25d 26 .. Amount of line 34 you want refunded to you. If Form 8888 is attached, check here 35a Married filing jointly or Qualifying widow(er)-Schedule Y-1 SCHEDULE 1 (Form 1040) Department of the Treasury Internal Revenue Service Additional Income and Adjustments to Income Attach to Form 1040, 1040-SR, or 1040-NR. -Go to www.irs. gov/Form 1040 for instructions and the latest information. OMB No, 1545-0074 2020 Attachment Sequence No, 01 Name(s) shown on Form 1040, 1040-SR, or 1040-NR Your social security number Alfred E. and Beulah A. Old 111-11-1109 Part I Additional Income 1 Taxable refunds, credits, or offsets of state and local income taxes 2a Alimony received b Date of original divorce or separation agreement (see instructions) 4 Other gains or (losses). Attach Form 4797. 5 Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E 6 Farm income or (loss). Attach Schedule F 7 Unemployment compensation 8 Other income. List type and amount Group Term Life Insurance 9 Combine lines 1 through 8 . Enter here and on Form 1040, 1040-SR, or 1040-NR, line 8.. \begin{tabular}{|l|l} \hline 1 & \\ \hline 2a & \\ \hline 3 & \\ \hline 4 & \\ \hline 5 & \\ \hline 6 & \\ \hline 7 & \\ \hline & \\ \hline 8 & \\ \hline \end{tabular}