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Assume the taxpayer does NOT wish to contribute to the Presidential Election Fund, unless otherwise stated in the problem. In addition, the taxpayers did
Assume the taxpayer does NOT wish to contribute to the Presidential Election Fund, unless otherwise stated in the problem. In addition, the taxpayers did NOT receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency during the year. John and Martha Holloway are married filing jointly. They are 35 and 31 years old, respectively. Their address is 10010 Dove Street, Atlanta, GA 30294. Additional information about Mr. and Mrs. Holloway is as follows: Social security number: John: 412-34-5670 Date of birth: 3/4/1986 W-2 for John shows these amounts: Wages (box 1) Federal W/H (box 2) = $ 1,500.00 Social security wages (box 3) = $22,000.00 Social security W/H (box 4) = $ 1,364.00 Medicare wages (box 5) = $ 22,000.00 Medicare W/H (box 6) = $ 22,000.00 $ 319.00 Social security number: Martha: 412-34-5671 Date of birth: 8/20/1990 W-2 for Martha shows these amounts: Wages (box 1) = $ 35,500.00 Federal W/H (box 2) = $ 3,100.00 Social security wages (box 3) = $ 35,500.00 Social security W/H (box 4) = Medicare wages (box 5) = Medicare W/H (box 6). $ 2,201.00 $ 35,500.00 $ 514.75 Form 1099-DIV for Martha shows this amount: Box 1a and box 1b = $345.00 from MAR Brokerage. Form 1099-INT for Martha shows these amounts: Box 1 $450.00 from ABC Bank. Box 4 = $35.00. John is a maintenance worker, and Martha is a Human Resources Manager. Required: Prepare Form 1040 for Mr. and Mrs. Holloway for 2021. They want to contribute to the presidential election campaign. Use the appropriate Tax Tables. Note: List the names of the taxpayers in the order in which they appear in the problem. Input all the values as positive numbers.
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