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Everything so far is correct, just need the number for charitable contributions and AGI. Required Information [The following informotion opplies to the questions clisployed below.]
Everything so far is correct, just need the number for charitable contributions and AGI.
Required Information [The following informotion opplies to the questions clisployed below.] Reod the following letter and help Shady Slim with his tox situstion. Please ossume that his gross income is $172,900 (which consists only of salory) for purposes of this problem. December 31, 2023 To the frlendly student tax preparer: Hi, it's Shody Slim again. I just got bock from my 55th birthday porty, and I'm told that you need some more information from me in order to complete my tax return. I'm an open book! I'II tell you whatever I think you need to know. Let me tell you a few more things about my life. As you may recall, I am divorced from my wife, Alice. I know that it's unusual, but I hove custody of my son, Shody Jr. The judge owed me a few fovors and I really love the kid. He lives with me full time and my ex-wife gets him every other weekend. I poy the vast majority of my son's expenses. I think Alice should hove to pay some child support, but she doesn't have to pay a dime. The judge didn't owe me that much, I guess. I hod to move this year ofter getting my job at Roco Cols. We moved on Februsry 3 of this year, and I worked my job at Rocs Cols for the rest of the year. I still live in the same state, but I moved 500 miles awsy from my old house. I hired a moving company to move our stuff at a cost of \$2,300, and I drove Junior in my car. Junior and I got a hotel room along the way that cost us $65 (I love Super 8!). Con you believe I'm still poying off my student losns, even ofter 15 years? I psid a totol of $900 in interest on my old student losns this year. Remember when I told you about that guy that hit me with his car? I had o bunch of medical expenses that were not reimbursed by the lowsuit or by my insurance. I incurred a total of $20,000 in medical expenses, and I was only reimbursed for $11,000. Good thing I con write off medical expenses, right? I contributed o lot of money to charity this year (ond have receipt documentation for all contributions). I'm such a nice guy! I gove $1,000 in cosh to the March of Dimes. I contributed some of my old furniture to the church. It wos some good stuff? I contributed o red velvet couch and my old recliner. The furniture is considered vintage ond is worth $5,000 todsy (the appraiser surprised me!), even though I only poid $1,000 for it bock in the dsy. When I contributed the furniture, the postor soid he didn't like the fabric and wos going to sell the furniture to poy for some more pews in the church. Oh well, some people just hove no taste, right? Roca Cola had a charity drive for the United Way this year and I contributed $90. Turns out, I don't even miss it because Roco Cols tokes it right off my poycheck every month . . \$15 a month sterting in July. My poy stub verifies that I contributed the $90 to the United Woy. Oh, one other bit of chority from me this year. An old buddy of mine wes down on his luck. He lost his job and his house. I gove him \$500 to help him out. I poid a lot of money in interest this yesr. I paid a total of $950 in personol crecit card interest. I also poid $18,000 in interest on my $500,000 home mortgoge that helped me buy my dresm home. I also paid $2,000 in real estate toxes for my new house. A few other things I want to tell you about this year. Someone broke into my house and stole my kid's brand new bicycle and my set of golf clubs. The total loss from theft wos $900. I poid $125 in union dues this year. I had to poy $1,200 for new suits for my job. Roce Cols requires its manogers to wear suits every doy on the job. I spent a total of $1,300 to poy for gas to commute to my job this year. Oh, this is pretty cool. I've slwsys wanted to be s firefighter. I spent $1,400 in tuition to go to the local firefighter's school. I did this becouse someone told me that I con deduct the tuition as on itemized deduction, so the money would be coming bock to me. That should be all the information you need right now. Plesse calculate my toxable income and complete page 1 of Form 1040 (through toxable income, line 15) and Schedule A. You're still doing this for free, right? a. Colculate the toxable incomeStep by Step Solution
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