Cther incorne Irom scheduie $1,$ ine $10$

$10$ Adfustments to income from Schodlile $1,$ Ine $26.$

$11$ Subtract Ine $10$ from line $9.$ Tha is rour adpusted grose incese $.................$

$12$ Standard deductlon or Remired deducrisha $($frnm Schedile a$)$

$13$ Qualfed huainest iname deduction fram Form Eigs or form llyg$-$A

$14$ Add lines $12$ and $12$

Form $1040(2022)$

Ba For Disclesure, Privacy Act, and Fsperwprk Reduction Act Motlice, see aeparate Inatractlans.

hage $2$

$16$ Tar $($see instructions$)$

$17$ Ameunt from schedile $2.$ Ine $1$

$18$ Add ines $15$ and $17$

$18$ Chid tar orede or crese for wher degendesen thom sohedile stia

$20$ Amaure from Schedule $3,$ line A

$21$ Asd Ines $19$ and $20.$

$22$ Sabtract line $21$ thom line $1$E$.$ If aers or iris, enter $-4-$

$23$ Other taurs, includ ne sell$-$empleymenc tar, thon Sotral. $2,$ lne $2$:

$24$ Aed lines $22$ ane $23.$ Tis is your total tax

Payments

$25$ Federal income taic with heid traw:

Farmis$)W-2$

b Ferm$($s$)1099$

E other forms $($wee instractioss$)$

a Nad lines zsa trough $2C$

$27$ Earned inceme cradr ceio.

$2$a Adgrisnal abid tre owde tram Schedile selz

$28$ American epportanlty crepit frim fom sB$61,$ ite $3$

$30$ Erierved for Auture use

$32$ Afount frem Sonestule $3,$ the $15$

credins

$33$ Ade Bles $25d,26,$ and $32,$ These are your tetal popments $2022$ Tax Rato Schedules

Use the $2022$ Tax Rate Schedules to compute the tax. $($Noter Because the tax rate schedules are used Instead of the tax tables, the

amount of tax computed may vary sllghtly from the amount Ilsted In the tables.$)$

$2022$ Tax Rate SchedulesAlfred E$.$ Old and Beulah A$.$ Crane, each age $42,$ married on September $7,2020.$ Alfred and Beulah will file a joint return for $2022.$ Alfred's Social Security number is $111-11-1109.$ Beulah's Social Security number is $123-45-6780,$ and she has chosen to use "Old" as her married name. They live at $211$ Brickstone Drive, Atlanta, GA $30304.$

Alfred was divorced from Sarah Old in March $2017.$ Under the divorce agreement, Alfred is to pay Sarah $$1,250$ per month for the next $10$ years or until Sarah's death, whichever occurs first. Alfred paid Sarah $$15,000$ in $2022.$ In addition, in January $2022,$ Alfred paid Sarah $$50,000,$ which is designated as being for her share of the marital property. Also, Alfred is responsible for all prior years' income taxes. Sarah's Social Security number is $123-45-6788.$

Alfred's salary for $2022$ is $$150,000.$ He is an executive working for Cherry, Inc. $($Federal I.D$.$ No$.98-7654321).$ As part of his compensation package, Cherry provides him with group term life insurance equal to twice his annual salary. His employer withheld $$22,800$ for Federal income taxes and $$8,000$ for state income taxes. The proper amounts were withheld for FICA taxes.

Beulah recently graduated from law school and is employed by Legal Aid Society, Inc. $($Federal I.D$.$ No$.11-1111111),$ as a public defender. She received a salary of $$42,000$ in $2022.$ Her employer withheld $$6,300$ for Federal income taxes and $$2,400$ for state income taxes. The proper amounts were withheld for FICA taxes.

Alfred and Beulah received taxable interest income of $$500.$ Alfred and Beulah received a $$1,900$ refund on their $2021$ state income taxes; they claimed the standard deduction on their $2021$ Federal income tax return. Alfred and Beulah paid $$4,500$ interest and $$1,450$ property taxes on their personal residence in $2022.$ They paid sales taxes of $$1,400,$ for which they maintain the receipts. Alfred and Beulah have never owned or used any digital assets, and they do not want to contribute to the Presidential Election Campaign.

Required:

Compute the Olds' net tax payable $($or refund due$)$ for $2022.$ Use Form $1040$ and Schedule $1$ to complete this tax return.

It may be necessary to complete the tax schedule and worksheet before completing Form $1040.$

Enter all amounts as positive numbers.

If an amount box does not require an entry or the answer is zero, enter $"0".$

Make realistic assumptions about any missing data.

When computing the tax liability, do not round your immediate calculations. If required round your final answers to the nearest dollar.

Use the $2022$ Tax Rate Schedule provided. Do not use the Tax Tables. Fem

$1040$ U$.$S$.$ Individual Income Tax Return

Digital

$4$ Assets

Standard

Deduction

Age$/$Bilndness