Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Check my work 7 Brenda Peterson is single and lives at 567 East Street, Marshfield, MA 02043. Her SSN is 412-34-5670. She worked the entire

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

Check my work 7 Brenda Peterson is single and lives at 567 East Street, Marshfield, MA 02043. Her SSN is 412-34-5670. She worked the entire year for Applebee Consulting in Marshfield. Her Form W-2 contained information in the following boxes: 5 pints Wages (box 1) = $67,155.75 Federal w/H (box 2) = $ 8,366.12 Social security wages (box 3) $67,155.75 Social security W/H (box 4) = $ 4,163.66 Medicare wages (box 5) = $67,155.75 Medicare W/H (box 6) = $ 973.76 eBook Print References She also received two Forms 1099-INT. One was from First National Bank of Marshfield and showed interest income of $537.39 in box 1. The other Form 1099-INT was from Baystate Savings and Loan and showed interest income of $281.70 in box 1. Brenda had qualifying health care coverage at all times during the tax year. Required: Prepare a Form 1040 for Brenda. (Input all the values as positive numbers. Round your final answers to the nearest whole dollar amount.) Use the appropriate Tax Tables. 1040 for a single taxpayer with no dependents. Check my work 7 UU 5 oints 1 Wages, salaries, tips, etc. Attach Form(s) W-2 1 2a Tax-exempt interest 2a 2b b Taxable interest Attach Sch. Bir required b Ordinary dividends. Attach Sch. Bif required 3a Qualified dividends 3a 3b eBook b Taxable amount 4b Print d Taxable amount 4d References b Taxable amount 5b 6 7a 4a IRA distributions 4a Standard Deduction for-c Pensions and annuities 40 Single or Married filing separately 5a Social security benefits ba $12,200 Married filing 6 Capital gain or loss). Attach Schedule D if required. If not required check here jointly or Qualifying 7a Other income from Schedule 1, line 9 widow(er) $24.400 Head of b Add lines 1, 2b, 3b, 4b, 40, 5b. 6 and 7a. This is your total income household $18,350 8a Adjustments to income from Schedule 1. line 22 If you checked b Subtract line Sa from line 7b This is your adjusted gross income any box under Standard Deduction, see 9 Standard deduction or itemized deductions from Schedule A instructions 10 Qualified business income deduction Attach Form 8995 or Form 8995-A 7b 8a 8b 9 10 11a Add lines 9 and 10 11a b Taxable income. Subtract line 11a from line 8b 11b For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Cat No 113208 Form 1040 (20 Page 2 12a Tax (see inst.) Check if any from Form(s): (1) 8814 D (2) 4972 O (3) 12a b Add Schedule 2, line 3, and line 12a and enter the total 12b 13a Child tax credit or credit for other dependents 13a b Add Schedule 3, line 7, and line 13a and enter the total 13b 14 Subtract line 13b from line 12b. If zero or less, enter -O- 14 15 Other taxes, including self-employment tax, from Schedule 2, line 10 15 16 Add lines 14 and 15. This is your total tax 16 0 17 Federal income tax withheld from Forms W-2 and 1099 17 18 Other payments and refundable credits: a Eamed income credit (EIC) 18a If you have a qualifying child attach Sch. Ela If you have nontaxable combat pay, see instructions. b Additional child tax credit. Attach Schedule 8812 18b c American opportunity credit from Form 8863. line 8 18c d Schedule 3. line 14 18d e Add lines 18a through 18d. These are your total other payments and refundable credits 18e 19 Add lines 17 and 18e. These are your total payments 19 0 20 If line 19 is more than line 16. subtract line 16 from line 19. This is the amount you overpaid 20 Refund 21a Amount of line 20 you want refunded to you. If Form 8888 is attached, check here 21a

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Cloud Computing A Security And Privacy Guide

Authors: Ben Halpert

1st Edition

0470874740, 978-0470874745

More Books

Students also viewed these Accounting questions

Question

Connect with your audience

Answered: 1 week ago