Question
I need a help to fill out 2018 Form 1040 ( Line 1~23 ) This is information relating to Kevin and Jim Jones for 201
I need a help to fill out 2018 Form 1040 (Line 1~23)
This is information relating to Kevin and Jim Jones for 2018.Kevin and Jim are married and have 2 adopted children, Aubrynne (a girl) and Bryson (a boy).They live at 236 9th Ave., New York, NY 10011
Kevin is a lawyer who works for a law firm.Jim works part time in a genetic research lab.
The Jones' Social Security numbers and ages are as follows:
Kevin111-11-111132
Jim222-22-222228
Aubrynne333-33-33335
Bryson444-44-44443
Receipts
Kevin's salary$94,000
Jim's salary 33,000
Municipal bond interest2,400
Interest on C.D.s at Universal Savings3,100
*Qualified dividend on GM stock1,600
*Qualified dividends should be reported as both qualified and ordinary on the tax forms.
Expenditures
Eye exam and eyeglasses for Aubrynne600
Orthodontic work to correct Bryson's congenital defect2,500
Medical insurance premiums (paid on an after tax basis)1,800
State withholding for income tax8,800
Federal withholding for income tax16,000
State income taxes paid with last year's return500
Property tax on condo1,100
Ad valorem Property tax on automobile300
Home mortgage interest10,200
Interest on credit cards200
Cash contribution to Oregon Meditation center3,900
Cash contribution to a senator's campaign1,500
Charitable donation of stock
On September 17, Kevin and Jim donated Beta Trade Inc. stock to P University Accounting Scholarship Fund.Beta Trader, Inc. is publicly traded.Kevin and Jim had purchased the sock on November 7, 2003 for $300.On the date of donation, the fair market value of the contribution is $700.
Miscellaneous
The taxpayers did not have signature authority over a foreign bank account.
The taxpayers did not receive a distribution from a foreign trust.
No state tax returns.
Do not worry about Alternative Minimum Tax (AMT)
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