Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Ch 2 Tax Return Problem 1 eBook Assume the taxpayer does NOT wish to contribute to the Presidential Election Fund, unless otherwise stated in the
Ch 2 Tax Return Problem 1 eBook Assume the taxpayer does NOT wish to contribute to the Presidential Election Fund, unless otherwise stated in the problem. In addition, the taxpayers did NOT receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency during the year. Marie Lincoln is a head of household. She is 37 years old and her address is 4110 N.E. 13th Street, Miami, FL 33127. Additional information about Ms. Lincoln is as follows: Social security number: 412-34-5670 Date of birth: 1/14/1985 W-2 for Marie shows these amounts: Wages (box 1) = (box 2) = (box 3) (box 4) = Medicare wages (box 5) Medicare W/H (box 6) Federal W/H Social security wages Social security W/H Form 1099-INT for Marie shows this amount: Box 1 = $556.00 from A & D Bank. 1040 PG 1 Dependent: Son Steven is 10 years old. His date of birth is 5/11/2012. His social security number is 412-34-5672. Marie is a retail store manager. $ 43,611.00 $ 2,488.00 $ 43,611.00 $ 2,703.88 $43,611.00 $632.36 Required: Prepare Form 1040 and Schedule 8812 for Ms. Lincoln for 2022. She is entitled to the child tax credit. For now, enter the credit on the appropriate line of the form. She wants to contribute to the presidential election campaign. Ms. Lincoln had qualifying health care coverage at all times during the tax year. Use the appropriate Tax Tables. Note: Input all the values as positive numbers. Do not skip rows while entering in Dependents section of Form 1040 PG1. Instructions can be found on certain cells within the forms. 1040 for a Single taxpayer with one dependent. Saved 1040 PG 2 Schedule 8812 Schedule 8812 Worksheet A
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