Gross Income Exclusions and Deductions for AGA CUMULATIVE PROBLEM 1 (CHAPTERS 1-4) Use the following information to prepare Erica Hansen's tax return. Use Form 1040. Schedule 1 de 3. Schedule EIC, Schedule 8812, and Form 8880. This problem is suitable for manual preparation or computer software application Hansen (SSN 376-38-4930), age 42, is a single parent with three children. She resides at Sunset Road. Normal, Illinois 61761. She chooses to support the Presidential campaign fund household includes Randall L Hansen, her 19-year-old son (SSN 369-62-3418) Tifanya her 12-year-old daughter (SSN 396-30-6439). and Donna M. Hansen, het 14-year-old Lahter (SSN 653-29-8177). Erica provides over half of the support of each child has no income of her own, but Randall earns $4.200 during the year delivering papers od mowing lawns. All children lived in the household for 12 months. Randall is a full time student at Heartland College in Normal, Illinois. Erica works as an office manager for Universal Development Corporation. Information from her W-2, as well as other relevant information follows. $39.500 2.449 573 819 Gross wages Social security tax withheld Medicare tax withheld Federal income tax withheld State income tax withheld Interest received: First Federal Savings Bank Olympic Savings certificate of deposit cashed in State of Maryland bonds $775 175 300 Erica gets her family health care coverage through her work. Erica is a participant in an emplover-sponsored retirement plan. However, she wants to make the largest possible deductible contribution to her traditional IRA. If Erica has overpaid her taxes, she prefers to receive a refund. She signs and dates her return on April 5, 2020. Retirement Savings Contributions Credit: Compute the amount of the credit using the information presented in 204.06. EIC Calculation: Look up the amount in the EIC Tables for both earned income and AGI. Additional Child Tax Credit: Enter on Schedule 8812 (line 1) $1,400 for each qualifying child. Gross Income Exclusions and Deductions for AGA CUMULATIVE PROBLEM 1 (CHAPTERS 1-4) Use the following information to prepare Erica Hansen's tax return. Use Form 1040. Schedule 1 de 3. Schedule EIC, Schedule 8812, and Form 8880. This problem is suitable for manual preparation or computer software application Hansen (SSN 376-38-4930), age 42, is a single parent with three children. She resides at Sunset Road. Normal, Illinois 61761. She chooses to support the Presidential campaign fund household includes Randall L Hansen, her 19-year-old son (SSN 369-62-3418) Tifanya her 12-year-old daughter (SSN 396-30-6439). and Donna M. Hansen, het 14-year-old Lahter (SSN 653-29-8177). Erica provides over half of the support of each child has no income of her own, but Randall earns $4.200 during the year delivering papers od mowing lawns. All children lived in the household for 12 months. Randall is a full time student at Heartland College in Normal, Illinois. Erica works as an office manager for Universal Development Corporation. Information from her W-2, as well as other relevant information follows. $39.500 2.449 573 819 Gross wages Social security tax withheld Medicare tax withheld Federal income tax withheld State income tax withheld Interest received: First Federal Savings Bank Olympic Savings certificate of deposit cashed in State of Maryland bonds $775 175 300 Erica gets her family health care coverage through her work. Erica is a participant in an emplover-sponsored retirement plan. However, she wants to make the largest possible deductible contribution to her traditional IRA. If Erica has overpaid her taxes, she prefers to receive a refund. She signs and dates her return on April 5, 2020. Retirement Savings Contributions Credit: Compute the amount of the credit using the information presented in 204.06. EIC Calculation: Look up the amount in the EIC Tables for both earned income and AGI. Additional Child Tax Credit: Enter on Schedule 8812 (line 1) $1,400 for each qualifying child
