Question
Anthony Stork (birthdate August 2, 1978) is a single taxpayer. Anthonys earnings and withholdings as the manager of a local casino for 2022 are reported
Anthony Stork (birthdate August 2, 1978) is a single taxpayer. Anthonys earnings and withholdings as the manager of a local casino for 2022 are reported on his Form W-2 (see separate tab).
Anthony pays his ex-spouse, Salty Pans, $3,900 per month in accordance with their February 12, 2020 divorce decree. When their 12-year-old child (in the ex-wifes custody) reaches the age of 18, the payments are reduced to $2,800 per month. His ex-wifes Social Security number is 554-44-5555.
In 2022, Anthony purchased a new car and so he kept track of his sales tax receipts during the year. His actual sales tax paid was $3,450 for the car and $925 for all other purchases.
Anthony participates in a high-deductible health plan and is eligible to contribute to a health savings account. His HSA earned $75 in 2022.
During the year, Anthony paid the following amounts (all of which can be substantiated):
|
In 2022, Anthony inherited over $500,000 from his father, Howard, who died in 2022. Although Anthony invested a large portion, he also contributed $50,000 cash to the newly named Stork School of Engineering at Reno State University.
Anthony also received the following Form 1098 (see separate tab).
Required: Complete Anthonys federal tax return for 2022. Use Form 1040, Schedule 1, Schedule A, and Form 8889 to complete this tax return.
- Make realistic assumptions about any missing data.
- Anthony had health coverage for the entire year and he does not want to contribute to the presidential election campaign.
- Enter all amounts as positive numbers.
- If an amount box does not require an entry or the answer is zero, enter "0".
- If required round any dollar amount to the nearest dollar.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started