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COMPREHENSIVE TAX RETURN PROBLEM 2 2. Richard M. and Anna K. Wilson a. Richard and Anna Wilson are married and file a joint return.
COMPREHENSIVE TAX RETURN PROBLEM 2 2. Richard M. and Anna K. Wilson a. Richard and Anna Wilson are married and file a joint return. Richard is 47 years of age, and Anna is 46. Richard is employed by Telstar Corporation as its controller, and Anna is self-employed as a travel agent. They have three children: Michael, age 22; Lisa, age 17; and Laura, age 14. Michael is a full- time student at Rutgers University. Lisa and Laura both live at home and attend school full-time. The Wilsons currently live at 3721 Chestnut Ridge Road, Montvale, New Jersey 07645, in a home they have owned since July 2008. Richard and Anna provided over half of the support of Anna's mother, Ruth Knapp, who currently lives in a nursing home in Mahwah, New Jersey. They also provided over half of the support of their son, Michael, who earned $4,750 during the summer as an accounting student intern for a national ac- counting firm. b. Richard received a Form W-2 from his employer reporting the following in- formation for 2019: Richard M. Wilson, Social Security No. 294-38-6249: Gross wages and taxable benefits. Federal income taxes withheld.. F.I.C.A. taxes withheld: Social Security. Medicare... State income taxes withheld $63,000 11,400 3,906 914 1,850 The taxable benefits reported on his W-2 Form include $2,700 (based on the currently deductible standard auto mileage rate) for Richard's personal use of the company car provided by his employer.
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