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can you please walk me through how to fill in the 1040, schedule a and 8812 with the following information for tax year 2021. The
can you please walk me through how to fill in the 1040, schedule a and 8812 with the following information for tax year 2021.
The Park family consists of the following:
- Jackie O. Park; age 40; SSN: XXX-XX-XXXX; business analyst; single; unmarried
- Leslie T. Park; age 16; SSN: 000-00-0000; daughter; high-school student; lives at home
- Alex K. Park; age 12; SSN: NNN-NN-NNNN; son; middle-school student; lives at home
Pertinent information:
- Address: 132 Oakbrook Drive, Houston, Texas 77091
- The Parks do not want to contribute to the presidential election campaign
- Only Jackie can claim Leslie and Alex as dependents
- Using the correct Tax Rate Schedule (Not to be confused with the IRS Tax Tables) calculate the tax payer's Tax Liability
Jackie had the following earnings on her W-2:
- Wages: $55,159
- Federal tax withheld: $7,460
- Social Security tax withheld: $3,420
- Medicare tax withheld: $800
Other tax data:
- Jackie received $4,200 for the 3rd stimulus check in 2021.
- Jackie received the advanced child tax credit payments for 2021 of $2,000
- Jackie received $610 of personal interest income from her bank
- Medical expenses for the family were as follows:
- medical insurance premium $8,244
- payments for doctor's visits $6,760
- $850 was paid for dentists
- $230 for prescription drugs
- Texas State's general sales tax deduction allowed is $924
- Real estate taxes paid on her personal residence were $1,980
- Mortgage interest paid to her bank on the primary residence for the year was $6,000
- She donated $230 in cash to her church during the year.
Using the proper tax rate schedule for her filing status, calculate Jackie's tax liability.
- 1040
- 1040 Instructions
- 1040 Schedule A
- 1040 Schedule A Instructions
- 8812
- 8812 Instructions
- 1040
- Complete necessary fill-in forms
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