Hi,

I have to fill out a 1040 and have some questions. I have attached the homework assignment to this text.

My questions:

1. Johathan is no qualifying child nor relative on this parents return.
2. i do not have to add the $16,500 parental support to his gross income
3. he can claim the standard $12,400 deduction, bringing is taxable income to zero.
4. he will receive a 405 refund?
5. the stimulus checks are not taxable income
6. xhere do i mark on the 1040 that i want payment by check?

ASSIGNMENT

HW Assignment#4: Individual Income Tax Form 1040 Return Problem# 1 (due by March 3, 2021)

Instructions:

Please complete the 2020 federal income tax return for Jonathan Hales (blank 2020 Form 1040 is enclosed. You can also use the fillable Form 1040 posted on the IRS site:https://www.irs.gov/pub/irs-pdf/f1040.pdf). Be sure to include onlyrequiredtaxformswhencompletingthetaxreturn. Ignoretherequirementtoattachtheform(s)W-2tothefront page of the Form 1040. If required information is missing, use reasonable assumptions to fill in thegaps.

Jonathan Hales attended State University as a part-time student during the year. Jonathan lived at homewithhisparentswhileworkinga part-timejob. Thefollowinginformationrelatesto2020:

Jonathan'sSocialSecuritynumberis546-87-9876

Hismailingaddressis123SpringLane,Willow,Texas77521

Jonathanisa U.Scitizen

Jonathanwassingleduringtheentireyear

Jonathanturned19onJuly1

Jonathandoesnothaveanychildrenorprovidesupportforanyonebuthimself

Jonathanlivedinaroominthebasementofhisparents'homeforall12monthsoftheyear

For the year Jonathan's parents provided $16,500 of support including room and board, a car,healthinsurance,clothing, education,and carinsurance.

Jonathanwasincludedonhisfather'squalifiedminimumhealthinsurancecoverageplanforall12monthsduring the year.

JonathanreceivedthefollowingincomeduringtheyearasreportedonaFormW-2:

Employer

GrossWages

FederalIncomeTax

Withholding

StateIncomeTax

Withholding

TheColony

3,675

165

0

RockClimbing,LLC

1,790

0

0

CommunityPool,Inc.

4,235

240

0

Allapplicableandappropriatepayrolltaxeswerewithheldbyhisvariousemployers.

Jonathanreceived$12ininterestincomefromtheFirstBankofTexasduringtheyear.Jonathandidnotown, control, or manage any foreign bank accounts, nor was he a grantor or beneficiary of a foreigntrust during the tax year.Further, Jonathan did not buy, sell, exchange, or otherwise acquire anyfinancialinterestin avirtualcurrency.

Jonathan received two Economic Impact Payments (stimulus checks) in the full amount before filingtheir2020 taxreturn.

Jonathanhadnoitemizeddeductions.

Jonathan does not want to contribute to the Presidential Election Campaign Fund. He would like toreceivearefund(ifany)ofanytaxhemayhaveoverpaidfortheyear.Hispreferredmethodofreceivingtherefund isbycheck.