Answered step by step
Verified Expert Solution
Question
1 Approved Answer
c) complete the Schedule A form I paid a lot of money in interest this year. I paid a total of $1,010 in personal credit
c) complete the Schedule A form
I paid a lot of money in interest this year. I paid a total of $1,010 in personal credit card interest. I also paid $20,160 in interest on my $560,000 home mortgage that helped me buy my dream home. I also paid $2,120 in real estate taxes for my new house. A few other things I want to tell you about this year. Someone broke into my house and stole my kids brand new bicycle and my set of golf clubs. The total loss from theft was $960.1 paid $155 in union dues this year. I had to pay $1,200 for new suits for my job. Roca Cola requires its managers to wear suits every doy on the job. I spent a total of $1,360 to pay for gas to commute to my job this year. Oh, this is pretty cool. I've always wanted to be a firefighter. I spent $1,460 in tuition to go to the local firefighter's school. I did this because someone told me that I can deduct the tuition as an itemized deduction, so the money would be coming back to me. That should be all the information you need right now. Please calculate my taxable income and complete page 1 of Form 1040 (through taxable income, line 15) and Schedule A. You're still doing this for free, right? a. Calculate the taxable income. b. Complete page 1 of Form 1040 (through taxable income, line 15). Visit the IRS website and download Form 1040. Enter the required values in the appropriate fields. Save your completed Tax Fort and then upload it here by clicking "Browse:" Next, click "Save." Use 2023 tax rules regardless of the year on the form. To the friendly student tax preparer: HI, it's Shady Slim again. I just got back from my 55 th birthday party, and Im told that you need some more information from me in order to complete my tax return. I'm an open bookl I'll tell you whatever I think you need to know. Let me tell you a few more things about my life. As you may recall, 1 am divorced from my wife, Alice. I know that its unusual, but I have custody of my son, Shady Jr. The judge owed me a few favors and I really love the kid. He lives with me full time and my ex-wife gets him every other weekend. I pay the vast majority of my son's expenses. I think Alice should have to pay some child support, but she doesn't have to pay a dime. The judge didn't owe me that much, I guess. I had to move this year after getting my job at Roca Cola. We moved on February 3 of this year, and I worked my job at Roca Cola for the rest of the year. I still live in the same state, but I moved 500 miles away from my old house. I hired a moving company to move our stuff at a cost of $2,360, and I drove Junior in my car. Junior and I got a hotel room along the way that cost us $65 (1 love Super 81). Can you believe I'm still paying off my student loans, even after 15 years? I paid a total of $930 in interest on my old student loans this year. Remember when I told you about that guy that hit me with his car? I had a bunch of medical expenses that were not reimbursed by the lawsuit or by my insurance. I incurred a total of $20,600 in medical expenses, and I was only reimbursed for $11,300. Good thing I can write off medical expenses, right? I contributed a lot of money to charity this year (and have receipt documentation for all contributions). Im such a nice guyl I gave $1,060 in cash to the March of Dimes. I contributed some of my old furniture to the church. It was some good sturf I contributed a red velvet couch and my old recliner. The furniture is considered vintage and is worth $5,300 today (the appraiser surprised mel), even though I only paid $1,060 for it back in the day. When I contributed the furniture, the pastor said he didn't like the fabric and was going to sell the furniture to pay for some more pews in the church. Oh well, some people just have no taste, right? Roca Cola had a charity drive for the United Way this year and I contributed $126. Tums out, I don't even miss it because Roca Cola takes it right off my paycheck every month ... \$21 a month starting in July. My pay stub verifies that I contributed the $126 to the United Way. Oh, one other bit of charity from me this year. An old buddy of mine was down on his luck. He lost his job and his house. I gave him $530 to help him out. I paid a lot of money in interest this year, I paid a total of $1,010 in personal credit card interest. I also paid $20.160 in 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