Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Can someone help me fill out a SCHEDULE 1 with this information, please? John A. Smith is a manied 45 year old (Social Security *123-45-6789)
Can someone help me fill out a SCHEDULE with this information, please?
John A. Smith is a manied 45 year old (Social Security *123-45-6789) residing at 123 Main Street, Naples, FL 34109. John's wife is Lisa B. Smith 42 years old (Social Security *987-65- 4321) and John and Lisa's daughter is Jennifer C. Smith 22 years old (Social Security *123-89- 4567). John and Lisa are both the technology managers for New Company. They have the following items. Salaries Interest income from Disney's bond Interest income from municipal bond Ordinary dividends from Meta Platforms, Inc (NASDAQ: META) Child support payments to Mike Biddle Alimony payments to Mike Biddle Lottery winmngs Federal income tax withholding Mortgage interest Real estate propeny tax Charitable contribution 300.000 2,000 500 15,000 15,000 15,000 1,000 15.000 10,000 7,000 3,000 Lisa was previously married to Mike Biddle, the divorce was settled in 2020. Under the divorce decree, Lisa was obligated to pay alimony to Mike. John and Lisa each contributed S3:OOO into Traditional IRAs. John inherited publicly traded stock worth $30,000 from a deceased uncle in 2023. Jennifer, the daughter, played a role in one TV show and earned Sl 0,000. Because of her excellent academic record as a full-time college student in University of Georgia, she was awarded with a scholarship that waives her annual tuition of $42,000.
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