Question
Below is the taxpayer information for Sharon and Robert Dolan. They have two children who lived with them, David (SS# 154-13-5826), age 10 (date of
Below is the taxpayer information for Sharon and Robert Dolan. They have two children who lived with them, David (SS# 154-13-5826), age 10 (date of birth: October 11, 2012), and Sarah (SS# 155-52-3716), age 5 (date of birth: March 22, 2017). Sharon & Robert own their own home, a condominium. The family resides at 4705 Henry Hudson Parkway, Bronx, NY, 10471.
Sharon (SS# 138-09-1983, date of birth: April 2, 1971) is a manager at Chase Bank where her W2 wages was $80,000 and her federal withholdings was $11,500. Robert, (SS# 144-39-6967, date of birth: November 11, 1975), is employed at the Stratege4U Warehouse as a Consultant.
Robert's 2021 W2 wages was $67,095 and his federal withholding was $7,693.
The couples other income included dividends from Microsoft amounting to $272, dividends from Pepsi-Co amounting to $280, interest from TD Bank amounting to $135 and interest on their checking account at Bank of America of $193.
The Dolans also paid the following amounts (all of which can be proven):
1) $10,283 in mortgage interest
2) $8,555 in property taxes
3) $6,350 in tithes to CCC church
4) $2,800 charitable donation to Baruch College
5) $3,850 charitable donation to Brooklyn College
6) $717 sales tax paid
Sharon & Robert file jointly.
REQUIRED:
Please prepare the couples 2021 federal income tax return (form 1040), to reflect the couples total income, AGI, standard or total itemized deduction, tax (per the IRS table), federal withholdings, child tax credit (CTC), tax refund or liability (owe).
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