ANSWER CELL BY CELL PLEASE. 3 Different Forms:

1040, Schedule 1 and 8812

Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, 5 anta Fe, NM 87501 . Lance works for the convention bureau of the local Chamber of Commerce, and Wanda is emploved part-time as a paralegal for a law firm. During 2022 , the Deans had the following receipts: Wanda was previously married to John Allen. When they divorced several years ago, Wanda was awarded custody of their two children, Penny and Kyle. (Note: Wanda has never Issued a Form 8332 walver.) Under the dlvorce decree, John was obligated to pay allmony and child support-the alimony payments were to terminate if Wanda remarried. In July, while going to lunch in downtown Santa Fe, Wanda was injured by a tour bus, Because the driver was clearly at fault, the owner of the bus, Roadrunner Touring Company, paid her medical expenses (including a one-week stay in a hospital). To avoid a lawsult, Roadrunner also transferred $90,000 to her in settlement of the personal injuries she sustained. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|l|}{ Instructions } \\ \hline The Deans had the following expenditures for 2022 : & & \\ \hline Medical expenses (not covered by insurance) & & $7,200 \\ \hline \multicolumn{3}{|l|}{ Taxes- } \\ \hline Property taxes on personal residence & $3,600 & \\ \hline \begin{tabular}{l} State of New Mexico income tax (includes amount withheld \\ from wages during 2022) \end{tabular} & 4,200 & \\ \hline 7x2 & & 7,800 \\ \hline Interest on home mortgage (First National Bank) & & 6,000 \\ \hline Charitable contributions (cash) & & 3,600 \\ \hline Life insurance premiums (policy on Lance's life) & & 1,200 \\ \hline Contribution to traditional IRA (on Wanda's behaif) & & 6,000 \\ \hline Traffic fines & & 300 \\ \hline Contribution to the reelection campaign fund of the mayor of Santa Fe & & 500 \\ \hline Funeral expenses for Wayne Boyle & & 6,300 \\ \hline \end{tabular} The life insurance policy was taken out by Lance several years ago and designates Wanda as the beneficiary, As a oart-time emniover. The life insurance policy was taken out by Lance several years ago and designates Wanda as the beneficiary. As a part-time employee, Wanda is excluded from coverage under her employer's pension plan. Consequently, she provides for her own retirement with a traditional IRA obtained at a local trust company. Because the mayor is a member of the local Chamber of Commerce, Lance felt compelled to make the political contribution. The Deans' household includes the following, for whom they provide more than half of the support: Penny graduated from high school on May 9, 2022, and is undecided about college. During 2022, she earned $8,500 (placed in a savings account) playing a harp in the lobby of a local hotel. Wayne is Wanda's widower father who died on December 20, 2022. For the past few years, Wayne qualified as a dependent of the Deans. Federal income tax withheld is $3,900 (Lance) and $1,600 (Wanda). The proper amount of Social Security and Medicare tax was withheld. Penny graduated from high school on May 9, 2022, and is undecided about college. During 2022, she eamed $8,500 (placed in a savings account) playing a harp in the lobby of a local hotel. Wayne is Wanda's widower father who died on December 20, 2022. For the past few years, Wayne qualified as a dependent of the Deans. Federal income tax withheld is $3,900 (tance) and \$1,600 (Wanda). The proper amount of Social Security and Medicare tax was withheld. Required: Determine the Federal income tax for 2022 for the Deans on a joint return by completing the appropriate forms. Use Form 1040 and Schedule 1 to complete this tax.return. They do not own and did not use any digital assets during the year, and they do not want to contribute to the Presidential Election Campaign Fund. If an overpayment results, it is to be refunded to them. - Make realistic assumptions about any missing data. - Enter all amounts as positive numbers. - If an amount box does not require an entry or the answer is zero, enter " 0 ". - Use the tax rate schedules included with this problem. When computing the tax liablity, do not round your immediate calculations. If required round your final answers to the nearest dollar. Form 1040 \begin{tabular}{|c|c|c|c|c|c|c|} \hline \begin{tabular}{l} Digital \\ Assets \end{tabular} & \multicolumn{5}{|c|}{\begin{tabular}{l} At any time during 2022, did you: (a) receive (as a reward, award, or payment for property or \\ services); or (b) sel, exchange, gift, or otherwise dispose of a digital asset (or a financial \\ Interest in a digital asset)? (See instructions.) \end{tabular}} & \\ \hline \begin{tabular}{l} Standard \\ Deduction \end{tabular} & \multicolumn{6}{|c|}{ Someone can claim: } \\ \hline Age/Blindness & \multicolumn{6}{|c|}{ Spouse: } \\ \hline \multirow{6}{*}{\begin{tabular}{l} Dependents \\ If more \\ than four \\ dependents, \\ see instructions \\ and chock \\ here......... of \end{tabular}} & (see instructions): & (2) Social security & (3) Relationship & \multirow{2}{*}{\multicolumn{3}{|c|}{\begin{tabular}{l} (4) Check the box if qualifies for (see instructions): \\ Child tax credit \end{tabular}}} \\ \hline & (1) First name last name & number & to you & & & \\ \hline & Penny Dean & 123456788 & Child & - & & \\ \hline & Kyle Dean & 123456780 & Child & - & & \\ \hline & Wayne Boyle & 123456785 & Parent & & & \\ \hline & & & & o & & a \\ \hline ncor & 1a. Total amount from form & (s) W2, bax 1 (see & structions). & & 1a & \\ \hlinem(s) & b Household employee wag & ges not reported on Fo & Form(s) w2 & & 16 & \\ \hline \end{tabular} Form 1040 Income Attach form(s) W-2 here. Also attach Forms W-2G and 1099n if tax was withheld. if you did not get a form W-2, see 1a Total amount from Form(s) W-2, box 1 (see instructions) instructions: b Household empioyee wages not reported on Form(s) w-z c Tip income not reported on line la (see instructions) d. Medicaid waiver payments not reported on Form(s) W-2 (see instructions) - Toxable dependent care benefits from Form 2443, line 26 f Employerprovided adoption benefits from Form B839, line 29 9 Wages from Form 8919, line 6 h. Other eamed income (see instructions) I Nontaxable combut pay election (see instructiona) I. Add lines ta through in b Taxable interest b Ordinary dividends b Taxatile amount: b. Taxable amount \begin{tabular}{|l|l|} \hline 1a & \\ \hline 1b & \\ \hline 1c & \\ \hline 1d & \\ \hline 1e & \\ \hline 1f & \\ \hline 1a & \\ \hline 1h & \\ \hline 12 & \\ \hline 2b & \\ \hline 3b & \\ \hline 4b & \\ \hline 5b & \\ \hline \end{tabular} Form 1040 d Add lines 25 a through 25C 9 Total other income. Add lines 8a through 8z. 10 Combine lines 1 through 7 and 9. Enter here and on Form 1040, 1040-SR, or 1040-NR, line 8 9 For Paperwork Reduction Act Notice, see your tax return instructions. Schedule 1 (Form 1040) 2022 c Date of onginal divorce or separation agreement (see instructions): 20 IRA deduction. 21 Student loan interest deduction 22 Reserved for future use Schedule 1 e Repayment of suppiementar unempioyment behehts under the Irade NCt of 19/4.. f Contributions to section 501(c)(18)(0) pension plans 9 Contributions by certain chaplains to section 403(b) plans h Attorney fees and court costs for actions involving certain unlawful discrimination daims (see instructions) 1 Attorney fees and court costs you paid in connection with an award from the IRS for information you provided that helped the tRs detect tax law violations J Housing deduction from form 2555 k Excess deductions of section 67(e) expenses from Schedule K-1(Form 1041) z. Other adjustments. List type and amount: \begin{tabular}{|c|c|} \hline 24e & \\ \hline 24f & \\ \hline 24g & \\ \hline 24h & \\ \hline 241 & \\ \hline 24j & \\ \hline 24k & \\ \hline 24x & \\ \hline \end{tabular} 25 Total other adjustments. Add lines 24 a through 242 . 26 Add lines 11 through 23 and 25 . These are your adjustments to income. Enter here and on Form 1040 or 1040-SR, line 10, or form 1040-NR, line 100 Schedule 1 (Form 1040) 2022 Schedule 8812 Part I Child Tax Credit and Credit for Other Dependents 1 Enter the amount from line 11 of your form 1040, 1040-SR, or 1040-NR. 2a Enter income from Puerto Rico that you excluded b Enter the amounts from lines 45 and 50 of your Form 2555 . c Enter the amount from line 15 of your form 4563. d Add lines 2 a through 2c. 3 Add lines 1 and 2d 4 Number of qualifying children under age 17 with the required social security number 5 Multiply tine 4 by $2,000 6 Number of other dependents, including any qualifying children who are not under age 17 or who do not have the required social security number 1 Schedule 8812 7 Multiply line 6 by $500 8. Add lines 5 and 7 9 Enter the amount shown below for your filing status. - Married filing jointly-\$400,000 - All other filing statuses $200,000 10 Subtract line 9 from line 3 . - If zero or less, enter -0 -. - If more than zero and not a multiple of $1,000, enter the next multiple of $1,000. For example, if the resuit is $425, enter $1,000; if the result is $1,025, \} enter $2,000, etc. 11 Multiply line 10 by 5%(0.05) 12 Is the amount on line 8 more than the amount on line 11? No. STOP. You cannot take the child tax credit, credit for other dependents, or additional child tax credit. Skip Parts II-A and II-B. Enter -0 - on lines 14 and 27. : Yes. Subtract line 11 from line 8. Enter the result. Schedule 8812 13 Enter the amount from the Credit Limit Worksheet A 14 Enter the smalter of line 12 or 13 . This is your child tax credit and credit for other dependents \begin{tabular}{|l|l|} \hline 13 & \\ \hline 14 & \\ \hline \end{tabular} Enter this amount on Form 1040, 1040-5R, or 1040-NR, line 19. If the amount on line 12 is more than the amount on line 14, you may be able to take the additional child tax credit on Form 1040 , 1040SR, or 1040-NR, line 28. Complete your Form 1040, 1040-SR, or 1040-NR through line 27 (also complete Schedule 3, line 11) before completing Part II-A. \begin{tabular}{|c|c|c|} \hline BAA For Paperwork Reduction AC & tice, see your tax return instructions. & Schedule 8812 (Form 1040) 2022 \\ \hline Schedule 8812 (form 1040) (2022) & Lance H and Wanda B Dean & 111111113 \\ \hline \end{tabular} Part IT-A Additional Child Tax Credit for All Filers Caution: If you file Form 2555, you cannot claim the additional child tax credit. 15 Check this box if you do not want to claim the additional child tax credit. Skip Parts II-A and II-B. Enter -0- on line 27 16 Subtract line 14 from line 12. If zero, stop here; you cannot take the additional child tax credit, Skip. Parts IIA and 11B. Enter =0 - on line 27 16 a