Hello I need help with my accounting project. Instructions: Complete the following tax documents Form 1040, Schedule B, Schedule 1, and Qualified Dividends and Capital
Hello I need help with my accounting project.
Instructions:
Complete the following tax documents Form 1040, Schedule B, Schedule 1, and Qualified Dividends and Capital Gains worksheet.
Complete Schedule B first, then Schedule 1, then Form 1040 down through Line 15. Then complete the QualDiv worksheet and use that information to complete the rest of the Form 1040. Submit all 4 documents to complete the assignment.
Alexander Smith and his wife Allison are married and will file a joint tax return for 2022. The Smiths live at 1234 Buena Vista Drive, Orlando, FL 32830. Alexander is a commuter airline pilot but took 6 months off from his job in 2022 to obtain a higher-level pilot's license. The Smiths have an 18-year-old son, Brad, who is enrolled in twelfth grade at the Walt Disney Prep School. The Smiths also have a 19-year-old daughter, Angelina, who is a part-time first-year student at Orange County Community College (OCCC). Angelina is married to Sean Shirker, who is 19 years old and also a part-time student at OCCC. Sean and Angelina have a 1-year-old child, Trask (Social Security number 115-45-7893). All the Shirkers live in an apartment near the Smiths. Angelina and Sean both also work part-time for Sean's wealthy grandfather as apprentices in his business. The Shirker's wages for the year were $50,000 which allowed them to pay all the personal expenses for themselves and Trask.
Alexander T Smith W-2 Form IS ATTACHED.
Name | Social Security number | Date of birth |
Alexander Smith | 266-15-1966 | 09/22/1970 |
Allison Smith | 266-34-1967 | 07/01/1971 |
Brad Smith | 261-55-2121 | 12/21/2005 |
Angelina Shirker | 261-45-1212 | 03/31/2004 |
Sean Shirker | 546-78-1235 | 05/01/2004 |
Trask Shirker | 115-45-7893 | 10/21/2021 |
Five years ago, Alexander divorced Jennifer Amistad (Social Security number 341-55-6789). Alexander pays Jennifer $200 per month in alimony under the divorce decree.
Not included with the Smith's tax forms was interest from State of Florida bonds of $145.00.
Alexander also received a Form W-2, Form 1099-INT, and Form 1099-DIV