Comprehensive Problem 4-55 (LO 4-1, LO 4-2, LO 4-3) (Algo) [The following information applies to the questions displayed below.) Marc and Michelle are married and earned salaries this year of $72,800 and $15,300, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $1,600 from corporate bonds. Marc contributed $3,600 to a traditional Individual retirement account, and Marc paid alimony to a prior spouse in the amount of $2,600 (under a divorce decree effective June 1, 2006). Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc and Michelle are allowed to claim a $3,000 child tax credit for Matthew. Marc and Michelle paid $8,200 of expenditures that qualify as itemized deductions (no charitable contributions) and they had a total of $4,185 in federal Income taxes withheld from their paychecks during the year. (Use the tax rate schedules.) Comprehensive Problem 4-55 Part f (Algo) Complete Marc and Michelle's Form 1040, pages 1 and 2, and Schedule 1 (use the most recent form available). Marc and Michelle's address is 19010 N.W. 135th Street, Miami, FL 33054. Social security numbers: Marc Taxpayer: 111-22-3333 Michelle Taxpayer. 222-33-4444 Matthew Toxpayer: 333-44-5555 Prior Spouse 111-11-1111 (Input all the values as positive numbers. Enter any non-financial information, (e.g. Names, Addresses, social security numbers) EXACTLY as they appear in any given information or Problem Statement. Do not skip rows, while entering in Deductions section of Form 1040 PG1. Use 2021 tax laws and 2020 tax form.) Nelther Marc nor Michelle wish to contribute to the Presidential Election 1040 PG 1 1040 PG 2 Schedule 1 Form 1040 Page 1 and 2. Department of the Treasury-Internal Revenue Service (90) Form 1040 U.S. Individual Income Tax Return 2020 Ova No. 1545-0074 RS Use Only Do not wille ore Filing Status single Oamed trgony Marted ting beparaty (MFS) Head of household HOH) Oualitying widower) (O) Check only you checked the MFS box, enter the name of your spout if you checked the HOH or GW box, enter the child's name the unifying person is one box child but not your dependent Your first name and midde initial Last name Your social security number Hjortretum, spouse's first name and midde inti Last name Spouse's social security numb Home address number and street) you have a PO box, see notructions Apt.no Presidential Election Campaig City, own, or post office. 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Ino 120, and to notruction for details 38 Estimated tux penalty (tee notruction 35 Do you want to allow another person to do this fun with the RS7 Son instructora 1. Complete below Design's name Phone Persondation no number compel Decretion of prepare the taxpayer) Based on a formation of which prepare hos nynowledge Under punto perdedore the said that and accompanying schedules and statements, and to the best of my knowledge and beat they are correct and Your nature Date the RS sant you an entry Your occupation Polnion Pinterher Sign Here Joint return? See Instructions Keep a copy for your records Spouse's nature for both must Date Spouses occupation If the RS sent your Procion PIN Emal Prowessure De PTIN Check Omiyet Phone Prepare's home Paid Preparer Use Only mis name Firmsad Go to www.golfom1045 for instructions and the ston ener FEIN Farm 1040 (2001 SCHEDULE 1 (Form 1040) Additional Income and Adjustments to Income OMB No 1545-0074 2020 Department of the Treasury Internal Revenue Service Name() shown on Form 1040,1040-SR, ce 4040-NR Attach to Form 1040, 1040-SR, or 1040-NR. Go to www.rs.gov/Form 1040 for instructions and the latest information. Altachment Sequence No. 01 Your social security number Part 1 1 1 b 23 Additional Income Taxable and creditors of state and local income Almony celved Date of orginal divorce oration as netruction) Business income or Altach Schedule Other gain or losses Altach Form 4707 Rental real estate, royales, partnerships, corporation, trusts, etc. Attach Schedule Farm Income ordon) Allach Schedule Unemployment compensation Gerincome Ust type and amount 4 3 4 5 5 6 7 Part II Combines through Enter and on Form 1040 1040 SR 1040-NA, in Adjustments to Income F an 10 11 13 10 Combine the through 8. Enter here and on Form 1040, 040-5R or 1040-NR, in . Part II Adjustments to Income 10 Educator expenses 11 Certain business open of oils, proming artists and foe-bonis government officials Altach Form 2100 12 Heath savings account deduction Attach Form 3889 12 13 Moving expenses for members of the Armed Forces Attach Form 2003 14 Deductible part of simployment. Attach Schedule SE 14 15 Beployed SEPUMPLE, and qualified plan 10 Self-employed health insurance duction 17 Perally on any www of eving 17 ta Almond 11 Recipes SSN Date of original diveron er paration avement (1 bure IRA deduction 20 Student loan interest deduction 20 21 Tubon and foesoeduction Arch Fom 0017 Aoines to hoh 21 These are your adjustments to come Enterhers and on Form 1040 1040-SR or 1040 NR.100 For Paperwork Reduction Act Notice, see your tax return instruction Cat No. 71475F Schedule Form 1002070 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 PILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL 2021 McGraw-Hill Education 19 19 21