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do not need to solve full tax return. i just need help with line 3 of 3 k Required information [The following information applies to
do not need to solve full tax return. i just need help with line 3
of 3 k Required information [The following information applies to the questions displayed below.] Reba Dixon is a fifth-grade school teacher who earned a salary of $38,000 in 2021. She is 45 years old and has been divorced for four years. She receives $1.200 of alimony payments each month from her former husband (divorced in 2016). Reba also rents out a small apartment building. This year Reba received $50,000 of rental payments from tenants and she incurred $19,500 of expenses associated with the rental. Reba and her daughter Heather (20 years old at the end of the year) moved to Georgia in January of this year. Reba provides more than one-half of Heather's support. They had been living in Colorado for the past 15 years, but ever since her divorce, Reba has been wanting to move back to Georgia to be closer to her family. Luckily, last December, a teaching position opened up and Reba and Heather decided to make the move. Reba paid a moving company $2,010 to move their personal belongings, and she and Heather spent two days driving the 1,426 miles to Georgia. Reba rented a home in Georgia. Heather decided to continue living at home with her mom, but she started attending school full-time in January and throughout the rest of the year at a nearby university. She was awarded a $3,000 partial tuition scholarship this year, and Reba helped out by paying the remaining $500 tuition cost. If possible, Reba thought it would be best to claim the education credit for these expenses. Reba wasn't sure if she would have enough items to help her benefit from itemizing on her tax return. However, she kept track of several expenses this year that she thought might qualify if she was able to itemize, Reba paid $5,800 in state income taxes and $12,500 in charitable contributions during the year. She also paid the following medical-related expenses for herself and Heather: Insurance premiums $ 7,952 Medical care expenses $ 1,100 Prescription medicine $ 350 Nonprescription medicine $ 100 New contact lenses for Heather $ 200 Shortly after the move, Reba got distracted while driving and she ran into a street sign. The accident caused $900 in damage to the car and gave her whiplash. Because the repairs were less than her insurance deductible, she paid the entire cost of the repairs. Reba wasn't able to work for two months after the accident. Fortunately, she received $2,000 from her disability insurance. Her employer, the Central Georgia School District, paid 60 percent of the premiums on the policy as a nontaxable fringe benefit and Reba paid the remaining 40 percent portion. A few years ago, Reba acquired several investments with her portion of the divorce settlement. This year she reported the following income from her investments: $2,200 of interest income from corporate bonds and $1,500 interest income from City of Denver municipal bonds. Overall, Reba's stock portfolio appreciated by $12,000, but she did not sell any of her stocks. Heather reported $6,200 of interest income from corporate bonds she received as gifts from her father over the last several years. This was Heather's only source of income for the year. Reba had $10,000 of federal income taxes withheld by her employer. Heather made $1,000 of estimated tax payments during the year. Reba did not make any estimated payments. Assume Reba received the correct advance payment for her 2021 individual recovery credit. Using the information from part a-1. Complete pages 1 and 2. Schedule 1, and Schedule 3 of Form 1040 for Reba. Reba Dixon's address is 19010 NW. 135th Street, Miami, FL 33054. b ts Reba Dixonc 111-11-1111 Heather Dixon: 222-22-2222 (Input all the values as positive numbers. Use 2021 tax rules regardless of year on tax form. Round your intermediate computations and final answers to the nearest whole dollar amount.) Cook rint erence 0 0 0 1040 for a Head of household with one dependent 1040 PG 1040 PG Schedule Schedule 2 3 Form 1040 Schedule 3. SCHEDULE 3 Additional Credits and Payments OMB No. 1545-0074 (Form 1040) Department of the Treasury 2020 Attach to Form 1040 or 1040-SR. Internal Revenue Go to www.irs.gov/Form1040 for instructions and Attachment Sequence No. Service the latest Information. 03 Name(s) shown on Form 1040 or 1040-SR Your social security number Reba Dixon 111-11-1111 Part Nonrefundable Credits 1 Foreign tax credit. Attach Form 1116 if required 1 2 Credit for child and dependent care expenses. Attach Form 2441 2 500 3 Education credits from Form 8863, line 19 3 4 Retirement savings contributions credit. Attach Form 8880 4 5 Residential energy credits. Attach Form 5695 5 6 Other credits from a 3800 Ob 8801 Oc 6 Form: 0 7 Add lines 1 through 6. Enter here and on Form 1040, 1040-SR, or 1040-NR, 7 500 line 20 Part II Other Payments and Refundable Credits 8 Net premium tax credit. Attach Form 8962 8 9 Amount paid with request for extension to file (see instructions) 10 Excess social security and tier 1 RRTA tax withheld 11 Credit for federal tax on fuels. Attach Form 4136 11 12 Other payments or refundable credits: 0 a Form 2439 12af0 b Qualified sick and family leave credits from 12bo Schedule(s) H and Form(s) 7202 c Health coverage tax credit from Form 8885 12co d Other: 1200 e Deferral for certain Schedule H or SE filers (see 12elo instructions) fAdd lines 12a through 12e 121 13 Add lines 8 through 121. Enter here and on Form 1040, 1040-SR, or 1040- 13 NR, line 31 For Paperwork Reduction Act Notice, see your tax Cat. No. Schedule 3 (Form 1040) return instructions. 71480G 2020 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 FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. 2021 McGraw-Hill Education. Step by Step Solution
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