Chapter 4 Homework Learning Upgrade... Dashboard G spinning wheel de... Note: This problem is for the 2021 tax year. Daniel B. Butler and his spouse Freida C. Butler file a joint return. The Butlers live at 625 Oak Street in Corbin, KY 40701. Dan's Social Security number is 111-11-1112, and Freida's is 123-45-6780. Dan was born on January 15, 1970, and Freida was born on August 20, 1971. During 2021, Dan and Freida furnished over half of the total support of each of the following individuals, all of whom still live at home: a. Gina, their daughter, age 22, a full-time student, who married on December 21, has no income of her own and did not file a joint return with her husband, Casey, who earned $10,600 during 2021. Gina's Social Security number is 123-45-6788. b. Willie, their son, age 19, graduated high school in May 2021. He is taking a leap year and will not begin college until 2022. He had gross income of $6,300 in 2021. Willie's Social Security number is 123-45-6787. c. Ben, their oldest son, age 26, is a full-time graduate student with gross income of $5,200. Ben's Social Security number is 123-45-6786. Dan was employed as a manager by W113, Inc. (employer identification number 11-1111111, 604 Franklin Street, Corbin, KY 40702), and Freida was employed as a salesperson for Corbin Realty, Inc. (employer identification number 98-7654321, 899 Central Street, Corbin, KY 40701). Selected information from the W-2 forms provided by the employers is presented below. Dan and Freida use the cash method. Line Description Dani Freida 1 Wages, tips, other compensation $74,000 $86,000 2 Federal income tax withheld 17 State income tax withheld 11,000 12,400 2,960 3,440 Freida sold a house on December 30, 2021, and will be paid a commission of $3,100 (not included in the $86,000 reported on the W-2) on the January 10, 2022, closing date. Other income (as reported on 1099 Forms) for 2021 consisted of the following: Dividends on CSX stock (qualified) Interest on savings at Second Bank $4,200 1,600 Interest on City of Corbin bonds Interest on First Bank CD 900 382 The $382 from First Bank was an original issue discount. Dan and Freida collected $16,000 on the First Bank CD that matured on September 30, 2021. The CD was purchased on October 1, 2018, for $14,995, and the yield to maturity was 3.3% Dan participated on a game show and won a cash prize of $7,000. In addition to the above information, Dan and Freida's itemized deductions included the following: Paid on 2021 Kentucky income tax $700 Personal property tax paid Real estate taxes paid Interest on home mortgage (Corbin S&L) 600 1,800 4,900 Sales tax from the sales tax table is $1,860. Dan and Freida made Federal estimated tax payments of $8,000. They have never owned or Check My Work Assignment Score: 75.01%