I have recently been in discussions with Billy Ray Doofus regarding the preparation of his 2022 tax return. Billy and I have had a long-standing professional relationship, but it has just been within the past few years that our firm started doing his personal income taxes.

Billy and his wife Tish are both 55 years old. They married on September 7, 2022. Billy and Tish plan to file a joint return for 2022. Billys social security number is 444-45-4444. Tishs social security number is 222-23-2222. They live in South Ogden. Their address is 1011 E 5450 S, Ogden, UT 84032.

Billy has invested in two different bond funds. The first is called Utah Bonds Fund. It hold bonds issued only by Utah or its municipalities. The second is called East Coast Bonds Fund. It holds bonds issued by states on the East Coast (none of which have reciprocity with Utah). In 2022, the Utah Bonds Fund paid $1,200 in interest; the East Coast Bonds Fund paid $1,900 in interest. In addition to this interest income, Billy earned $400 from several federal savings bonds.

Billys salary for 2022 was $110,000. Though he aspires to be a country music star, he is currently a referee in World Wrestling Entertainment (WWE), where he comfortably fits into a role that calls on him to act as if he doesnt understand what is going on. WWE withheld $15,400 for Federal income taxes and $3,400 for state income taxes. The following payroll taxes were also withheld: $6,820 in FICA taxes ($110,000 x 6.2%) and $1,595 ($110,000 x 1.45%) for Medicare. It should be noted that Billy sits on the Parents Television Council, and chairs the committee dedicated to protecting children from foul and offensive material on YouTube.

Tish is a cosmetologist, but aspires to write books on parenting. (Ive always thought that she was the last person from whom I would seek advice on parenting. Her daughter, Smiley, now age 24, is an utter reprobate. She has done time for possession and theft, has a history of drug use, and her self-produced YouTube videos are not for the faint of heart!) Tish received a salary of $40,000 from the salon where she worked in 2022. Her employer withheld $7,500 for Federal income taxes and $2,300 for state income taxes. The following payroll taxes were also withheld: $2,480 in FICA ($40,000 x 6.2%) and $580 ($40,000 x 1.45%) for Medicare.

Tish had $1,800 in qualified dividends from Hannah Montana Corporation stock she inherited. She received a $950 refund of 2021 state income taxes in 2022 and used the standard deduction on her 2021 filed Federal tax return. Billy received a $1,600 refund on his 2021 state income return, filed in 2022, and he itemized his deductions on his 2021 Federal income tax return. Billy and Tish paid $14,800 mortgage interest and $4,450 property taxes on their personal residence in 2022. Their charitable contributions total $14,000 (all to their church).

Please compute the Doofuses net tax payable or refund due and fill out the required schedules and forms. You will need Form 1040, Schedules A, B and 1.

THIS IS FOR 2022 FORM 1040.