Carl and Elizabeth Williams are married filing jointly. They are 45 and 40 years old, respectively. Their address is 19010 N.W. 135th Street, Miami, FL 33054. Additional information about Mr. and Mrs. Williams is as follows: Social security number Carl 412-34-5670 Date of birth: 7/13/1975 W-2 for Carl shows these amounts: Wages (box 1) - $ 75,000.00 Federal w/H (box 2) - $ 6,950.00 Social security wages (box 3) - $ 75,000.00 Social security w/H (box 4) - $ 4,650.00 Medicare wages (box 5) - $ 75,000.00 Medicare W/H (box 6) - $ 1,087.50 Social security number Elizabeth: 412-34-5671 Date of birth: 9/19/1980 W-2 for Elizabeth shows these amounts: Wages (box 1) - $ 31,000.00 Federal w/ box 2) - $ 3,700.00 Social security wages (box 3) = $ 31,000.00 Social security w/ box 4) - $ 1,922.00 Medicare wages (box 5) - $ 31,000.00 Medicare W/(box 6) = $ 449.50 Form 1099-INT for Carl and Elizabeth shows this amount: Box 1 = $2,450.00 from Global Bank They also received tax-exempt interest of $500.00, as well as $45.00 for jury duty pay when Carl went to court to serve for a few days. Carl received two weeks of workers' compensation pay for a total of $3,100.00 $ Dependent: Son, Carl Jr., who is 7 years old. His date of birth is 3/25/2013. His social security number is 412-34-5672. Carl is a sales manager, and Elizabeth is an office clerk. . Required: Prepare Form 1040 plus all the appropriate schedules and worksheets for Mr. and Mrs. Williams for 2020. They are entitled to a $2,000 child tax credit. For now, enter the credit on the appropriate line of the form. The Williamses did not have any foreign accounts. Mr. and Mrs. Williams had qualifying health care coverage at all times during the tax year. They do not want to contribute to the presidential election campaign. Mr. and Mrs. Williams did not receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency during 2020. (List the names of the taxpayers in the order in which they appear in the problem starting from the first line. Input all the values as positive numbers. Do not skip rows while entering in Dependents section of Form 1040 PG1 and Interest section of Schedule B.) Use the appropriate Tax Tables 1040 for a couple Married Filing Jointly with one dependent. 1040 PG 1 1040 PG 2 Schedule 1 Schedule B Page 1 of Form 1040. Use provided information and follow instructions on form. Department of the Treasury Internal Revenue Service Form 1040 199) 2020 OMB No. 1545-0074 U.S. Individual income Tax Return IRS Use Only-Do not write or staple in this space. Filing Status Single Married fling jointly Married filing separately (MFS) Head of household (HOH) () Qualifying widower) (GW) Check only If you checked the MFS box, enter the name of your spouse. If you checked the HOH or GW bak, enter the child's name if the qualifying person is one box a child but not your dependent Your first name and middle initial Last name Your social security number (Enter as XXXXXXXXX) If joint retum, spouse's first name and middle initial Last name Spouse's social security number (Enter as XXX-VICE-XXXX) Home address (number and street). If you have a P.O.box, see instructions. Apt. no. Presidential Election Campaign City, town, or post office. If you have a foreign address, also complete spaces below. Check here if you, or your spouse if filing jointly, want $3 to go to this fund. Checking a box below will not change your tax or refund You Spouse Foreign country name Foreign province/state county Foreign postal code At any time during 2020, did you receive, sell, send exchange, or otherwise acquire any financial interest in any virtual currency? Yes No Standard Someone can claim: You as a dependent Your spouse as a dependent Deduction Spouse itemizes on a separate retum or you were a dual status allen Age/Blindness You: Were born before January 2, 1966 Are bind Spouse: Was bom before January 2, 1956 Is blind Dependents (see instructions) (2) Social security number (3) Relationship to you (4) if qualities for (instructions If more than four (1) First name Last name ( (Enter as XXXXXXX) Child tax credit Credit for other dependents dependents, see instructions and check here 7 1 Wages, salaries, tips, etc. Altach Forms) W-2 2a Tae-exempt interest 2a b Taxable interest Attach Sch. Bit 2b required 3a Qualified dividends 3a b Ordinary dividends 3b 4a IRA distributions 4a b Taxable amount 4b sa Pensions and annuities Sa Taxable amount Sb Ga Social security benefits 6a Sacri bentents b Taxable amount 6b Capital gain ar (loss). Altach Schedule D if required. If not required, check here 8 Other income from Schedule 1, line 9 Is B 9 Add lines 1, 2, 3, 4, 5, 6, 7, and 8. This is your total income 10 diment 10 Adjustments to income: Standard Deduction for a From Schedule 1, line 22 10a + Single or Married he filing separately, b Charitable contributions if you take the standard deduction. See Instructions 10b $12,400 + Married filling Add lines 10a and 10b. These are your total adjustments to income 100 jointly or Qualifying widower). $24.800 11 Subtractine 10 11 Subtract line 10c from line 9. This is your adjusted gross income household $18,650 12 Standard deduction or itemized deductions (from Schedule A) you checked any 13 Qualified business income deduction. Attach Form 1995 or Form 8996-A box under Standard Deducban, see Instructions. 14 Add lines 12 and 13 15 Taxable income. Subtract line 14 from line 11. If zero or less, enter- 15 For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Cat No. 113200 THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL 2021 McGraw-Hill Education. 11 12 13 14 Form 1040 (2020) 1040 PG 1040 PG 2 > Carl and Elizabeth Williams are married filing jointly. They are 45 and 40 years old, respectively. Their address is 19010 N.W. 135th Street, Miami, FL 33054. Additional information about Mr. and Mrs. Williams is as follows: Social security number Carl 412-34-5670 Date of birth: 7/13/1975 W-2 for Carl shows these amounts: Wages (box 1) - $ 75,000.00 Federal w/H (box 2) - $ 6,950.00 Social security wages (box 3) - $ 75,000.00 Social security w/H (box 4) - $ 4,650.00 Medicare wages (box 5) - $ 75,000.00 Medicare W/H (box 6) - $ 1,087.50 Social security number Elizabeth: 412-34-5671 Date of birth: 9/19/1980 W-2 for Elizabeth shows these amounts: Wages (box 1) - $ 31,000.00 Federal w/ box 2) - $ 3,700.00 Social security wages (box 3) = $ 31,000.00 Social security w/ box 4) - $ 1,922.00 Medicare wages (box 5) - $ 31,000.00 Medicare W/(box 6) = $ 449.50 Form 1099-INT for Carl and Elizabeth shows this amount: Box 1 = $2,450.00 from Global Bank They also received tax-exempt interest of $500.00, as well as $45.00 for jury duty pay when Carl went to court to serve for a few days. Carl received two weeks of workers' compensation pay for a total of $3,100.00 $ Dependent: Son, Carl Jr., who is 7 years old. His date of birth is 3/25/2013. His social security number is 412-34-5672. Carl is a sales manager, and Elizabeth is an office clerk. . Required: Prepare Form 1040 plus all the appropriate schedules and worksheets for Mr. and Mrs. Williams for 2020. They are entitled to a $2,000 child tax credit. For now, enter the credit on the appropriate line of the form. The Williamses did not have any foreign accounts. Mr. and Mrs. Williams had qualifying health care coverage at all times during the tax year. They do not want to contribute to the presidential election campaign. Mr. and Mrs. Williams did not receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency during 2020. (List the names of the taxpayers in the order in which they appear in the problem starting from the first line. Input all the values as positive numbers. Do not skip rows while entering in Dependents section of Form 1040 PG1 and Interest section of Schedule B.) Use the appropriate Tax Tables 1040 for a couple Married Filing Jointly with one dependent. 1040 PG 1 1040 PG 2 Schedule 1 Schedule B Page 1 of Form 1040. Use provided information and follow instructions on form. Department of the Treasury Internal Revenue Service Form 1040 199) 2020 OMB No. 1545-0074 U.S. Individual income Tax Return IRS Use Only-Do not write or staple in this space. Filing Status Single Married fling jointly Married filing separately (MFS) Head of household (HOH) () Qualifying widower) (GW) Check only If you checked the MFS box, enter the name of your spouse. If you checked the HOH or GW bak, enter the child's name if the qualifying person is one box a child but not your dependent Your first name and middle initial Last name Your social security number (Enter as XXXXXXXXX) If joint retum, spouse's first name and middle initial Last name Spouse's social security number (Enter as XXX-VICE-XXXX) Home address (number and street). If you have a P.O.box, see instructions. Apt. no. Presidential Election Campaign City, town, or post office. If you have a foreign address, also complete spaces below. Check here if you, or your spouse if filing jointly, want $3 to go to this fund. Checking a box below will not change your tax or refund You Spouse Foreign country name Foreign province/state county Foreign postal code At any time during 2020, did you receive, sell, send exchange, or otherwise acquire any financial interest in any virtual currency? Yes No Standard Someone can claim: You as a dependent Your spouse as a dependent Deduction Spouse itemizes on a separate retum or you were a dual status allen Age/Blindness You: Were born before January 2, 1966 Are bind Spouse: Was bom before January 2, 1956 Is blind Dependents (see instructions) (2) Social security number (3) Relationship to you (4) if qualities for (instructions If more than four (1) First name Last name ( (Enter as XXXXXXX) Child tax credit Credit for other dependents dependents, see instructions and check here 7 1 Wages, salaries, tips, etc. Altach Forms) W-2 2a Tae-exempt interest 2a b Taxable interest Attach Sch. Bit 2b required 3a Qualified dividends 3a b Ordinary dividends 3b 4a IRA distributions 4a b Taxable amount 4b sa Pensions and annuities Sa Taxable amount Sb Ga Social security benefits 6a Sacri bentents b Taxable amount 6b Capital gain ar (loss). Altach Schedule D if required. If not required, check here 8 Other income from Schedule 1, line 9 Is B 9 Add lines 1, 2, 3, 4, 5, 6, 7, and 8. This is your total income 10 diment 10 Adjustments to income: Standard Deduction for a From Schedule 1, line 22 10a + Single or Married he filing separately, b Charitable contributions if you take the standard deduction. See Instructions 10b $12,400 + Married filling Add lines 10a and 10b. These are your total adjustments to income 100 jointly or Qualifying widower). $24.800 11 Subtractine 10 11 Subtract line 10c from line 9. This is your adjusted gross income household $18,650 12 Standard deduction or itemized deductions (from Schedule A) you checked any 13 Qualified business income deduction. Attach Form 1995 or Form 8996-A box under Standard Deducban, see Instructions. 14 Add lines 12 and 13 15 Taxable income. Subtract line 14 from line 11. If zero or less, enter- 15 For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Cat No. 113200 THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL 2021 McGraw-Hill Education. 11 12 13 14 Form 1040 (2020) 1040 PG 1040 PG 2 >