Answer this based on the 2023 IRS regulations or updated rules Jared and Sarah Johnson live at 45678 S W 112 th Street, Homestead, FL 33033 Jared, who is 67 years od (DOB 12 14 1956) is retired and receiving Social Security benefits, and Sarah, who is 66 years old (DOB 6 11 1957), is also retired but working on a part time basis Their Social Security numbers are 412 34 5670 and 412 34 5671, respectively The Johnsons had qualifying healthcare coverage at all times during the year Annual Social Security income for Jared is $22,000 (SSA 1099, box 5) and for Sarah is $16,800 (SSA 1099, box 5) Interest received by them from the Central Bank is $2,342 (1099 INT, box 1) No income tax withholding was made Sarah is an employee working part time as an interior decorator for Decorating House, a corporation Her Form W 2 shows the following information Wages $25,000 Federal W H $1,987 Social Security wages $25,000 Social Security W H $1,550 Medicare wages $25,000 Medicare W H 362 50 Their itemized deductions are as follows Mortgage interest on their main home, $11,847 Real estate taxes, $7,958 Personal property taxes, $426 Unreimbursed Doctors' expenses, $6,826 Medical insurance premiums for the year, $2,900 Prescribed medicine, $1,995 Vitamins, $300 Cash contributions to their church, $675 No individual contribution was greater than $250 Tax preparation fees for their 2022 return, $325, which was paid in 2023 Lottery tickets bough by Ester during the year, $750 Winnings received, $940 (W 2G, box 1 Income tax withholding on the winnings, $35 (W 2G, box 4) Because the Johnsons live in Florida, where there is no state income tax, they will deduct the estimation of the general sales tax related to the area in which they live The most efficient way for you to calculate this is to use the IRS website https apps irs gov app stdc Links to an external site A key point to remember is using the calculator is that income for this calculation also includes the non taxable portion of Social Security benefits Questions What are the total Itemized deductions Given the facts in the Johnson Question, What is their amount of overpayment refund Given the facts in the Johnson Question, What is their amount of taxable social security benefits

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Answer this based on the 2023 IRS regulations or updated rules Jared and Sarah Johnson live at 45678 S.W. 112 th Street, Homestead, FL 33033.

Answer this based on the 2023 IRS regulations or updated rules

Jared and Sarah Johnson live at 45678 S.W. 112^thStreet, Homestead, FL 33033. Jared, who is 67 years od (DOB 12/14/1956) is retired and receiving Social Security benefits, and Sarah, who is 66 years old (DOB 6/11/1957), is also retired but working on a part-time basis. Their Social Security numbers are 412-34-5670 and 412-34-5671, respectively. The Johnsons had qualifying healthcare coverage at all times during the year.

Annual Social Security income for Jared is $22,000 (SSA-1099, box 5) and for Sarah is $16,800 (SSA-1099, box 5).

Interest received by them from the Central Bank is $2,342 (1099-INT, box 1). No income tax withholding was made.

Sarah is an employee working part-time as an interior decorator for Decorating House, a corporation. Her Form W-2 shows the following information:

Wages = $25,000

Federal W/H = $1,987

Social Security wages = $25,000

Social Security W/H = $1,550

Medicare wages = $25,000

Medicare W/H = 362.50

Their itemized deductions are as follows:

Mortgage interest on their main home, $11,847
Real estate taxes, $7,958
Personal property taxes, $426
Unreimbursed Doctors' expenses, $6,826
Medical insurance premiums for the year, $2,900
Prescribed medicine, $1,995
Vitamins, $300
Cash contributions to their church, $675. No individual contribution was greater than $250
Tax preparation fees for their 2022 return, $325, which was paid in 2023
Lottery tickets bough by Ester during the year, $750. Winnings received, $940 (W-2G, box 1. Income tax withholding on the winnings, $35 (W-2G, box 4)
Because the Johnsons live in Florida, where there is no state income tax, they will deduct the estimation of the general sales tax related to the area in which they live. The most efficient way for you to calculate this is to use the IRS website.https://apps.irs.gov/app/stdc/Links to an external site.

A key point to remember is using the calculator is that "income" for this calculation also includes the non-taxable portion of Social Security benefits.

Questions

What are the total Itemized deductions?

Given the facts in the Johnson Question, What is their amount of overpayment/refund?

Given the facts in the Johnson Question, What is their amount of taxable social security benefits?