Assignment 1: Form 1040EZ

Facts:

The taxpayer is:

Sally Student

123 Maple Street

Cincinnati, Ohio 44000

Social Security No. 123-45-6789

Sally is a 20-year old college student, but also does some side work part time to help pay for college. She attends college full time, and works part time. She is claimed by her parents as a dependent, who provided over half her support. For 20XX, she had the following

W-2 Information

Gross wages income: $13,164

Interest income $ 132

Federal Withholding $ 921

To do:

Go the IRS website at irs.gov, and get a Form 1040EZ and instructions. Use these, with the facts above, to prepare a Form 1040EZ for Sally for the most recent year for which there is a form (this is almost always the year prior to the present year). Remember to consider both the standard deduction and the personal exemption, if any.

For part 1, 1040 EZ: Make sure that you do a worksheet to show your calculations for your standard deduction for the dependent Sally. Make sure you label and show all your work, this is your opportunity to show what you know/have learned.

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