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HI, this is a fundamental tax assignment. Must be done without using a software. forms needed to be filled in. If you got them correct.
HI, this is a fundamental tax assignment. Must be done without using a software. forms needed to be filled in.
If you got them correct. I will tip you up to $50.
Accounting 3020 Summer 2016 Tax Return Project #1 Required: Prepare 2015 Form 1040 (2 pages) Social Security Benefits Worksheet - Lines 20a and 20b (on page 30 of 1040 instructions) Due Date: Beginning of class May 26th Justin K. (SSN: 123451234) and Julia B. Johnson (SSN: 123456789) live at 123 W. North Street, Omaha, NE 68142. They fully support their son, Jack (SSN: 123459632), who lives with them and is a fulltime student at UNO. They also sent $5,000 to their son, Jordan (SSN: 123451478), who lives in Iowa to help with rent. Jordan had made $10,000 of wages before he lost his job during the year. Justin's birthday is 8/5/1949, Julia's birthday is 3/15/1954, Jack's birthday is 6/23/1993 and Jordan's birthday is 12/28/1981. Justin is retired, but works parttime at the local grocery store and Julia works parttime at the library. Their income and expenses for 2015 include: Justin Salary Julia Salary Taxable refund of state taxes Justin's pension (all taxable) Social Security reported on box 5 of SSA1099 Nonqualified Dividends Alimony paid to Justin's exwife (ssn: 963852741) Total Itemized Deductions Federal Income tax withholding $20,000 $14,000 $800 $12,000 $16,500 $250 $8,000 $13,000 $3,200 You are a CPA and work as a tax professional at UNO, LLP. The Johnsons have hired you to prepare their 2015 tax return. The firm's address is 1040 South 102nd Street, Omaha, NE 68166 and their EIN is 14 7598461. Your PTIN is P11223355. Please Note: As the syllabus indicates, these are individual projects not group projects! You are free to utilize the textbook and the form instructions for help. If you need additional assistance feel free to contact me. Also, projects should be completed manually using tax forms available on the IRS website www.irs.gov. The website has some forms available that can be \"filledin\" by the user. No tax preparation software such as TurboTax may be used. No other forms are necessary to fill out except for what is required aboveStep by Step Solution
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