Question
Hello, I am asking for help with filling out the year 2021 tax return for a problem. Please use a tax software and fill these
Hello, I am asking for help with filling out the year 2021 tax return for a problem. Please use a tax software and fill these out. If possible, post the screenshots of the forms produced. If also possible, link the PDF or google drive with the forms: schedules A and B and Form 8283 in addition to form 1040.
Following is a list of information for Peter and Amy Jones for the current tax year. Peter and Amy are married and have three children, Aubrynne, Bryson, and Caden. They live at 100 Main Street, Anytown, USA 00000. Peter is a lawyer working for a Native Americanlaw firm. Amy works part-time in a genetic research lab. The Jones Social Security numbers and ages are as follows: Name S.S. No. Age Peter 111-11-1111 32 Amy 222-22-2222 28 Aubrynne 333-33-3333 5 Bryson 444-44-4444 3 Caden 555-55-5555 1 Receipts Peters salary $70,000 Amys salary 32,000 Interest income on municipal bonds 2,400 Interest income on certificate of deposit (Universal Savings) 3,100 Dividends on GM stock 1,600 Disbursements Eyeglasses and ex(am) for Aubrynne $ 600 Orthodontic work for Bryson to correct a congenital defect 2,500 Medical insurance premiums, after-tax basis 1,800 Withholding for state income taxes 7,200 Withholding for federal income taxes 16,000 State income taxes paid with last years tax return (paid when the return was filed in the current year) 500 Property taxes on home 1,100 Property taxes on automobile 300 Interest on home 9,700 Interest on credit cards 200 Cash contribution to church 5,900 In addition to the above, on September 17, Peter and Amy donate some Beta Trader, Inc. stock to Lakeville Community College. Beta Trader, Inc. is publicly traded. The FMV of the stock on the date of the contribution is $700. Peter and Amy had purchased the stock on November 7, 2008 for $300. Compute Peter and Amys income tax liability for 2021 using Form 1040, Schedules A and B, and Form 8283, if necessary. Assume the couple had no transactions involving virtual currency.
Peter's salary Amy's salary Interest income on municipal bonds Interest income on certificate of deposit (Universal Savings) Dividends on GM stockStep by Step Solution
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