Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Complete the following tax return's 1040 and Schedule A. Following is a list of information for Peter and Amy Jones for the current tax year.

Complete the following tax return's 1040 and Schedule A. Following is a list of information for Peter and Amy Jones for the current tax year. Peter and Amy are married and have three children, Aubrynne, Bryson and Caden. They live at 1846 Joplin Way, Lakeville, MN 55022. Peter is a lawyer and Amy works part-time at a gentics research lab. The Jones' Social Security Numbers and ages are as follows: Name S.S. Number Age Peter 215-60-1989 32 Amy 301-60-2828 28 Aubrynne 713-84-5555 5 Bryson 714-87-2222 3 Caden 714-89-1684 1 Peter's Salary: $70,000 Amy's Salary: $32,000 Items they want you to consider for their itemized deduction: Eyeglasses and eye exam for Aubrynne $600 Orthodontic work for Bryson to correct congenital defect 2,500 Medical insurance premiums 1,800 Withholding for state income taxes 7,200 Withholding for federal income taxes 16,000 State income taxes paid with last year's return 500 Property taxes on home 1,100 Property taxes on automobile 300 Interest on home 9,700 Interest on credit cards 200

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

TExES Business And Finance Secrets Study Guide

Authors: TExES Exam Secrets Test Prep Team

1st Edition

1516706862, 978-1516706860

More Books

Students also viewed these Finance questions