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i need help calculating AGI, Mortage interest, And dilling out form 1040 and Schedule A itemized deductions The following information applies to the questions displayed

i need help calculating AGI, Mortage interest, And dilling out form 1040 and Schedule A itemized deductions
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The following information applies to the questions displayed below! Read the following letter and help Shady Slim with his tax situation. Please assume that his gross income is $172,900 (which consists only of salary) for purposes of this problem December 31, 2021 Divorced as getus To the friendly student tax preparer. Hi, it's Shady Slim again. I just got back from my 55th birthday party, and I'm told that you need some more information from me In order to complete my tax return. I'm an open book. It sell you whatever I think you need to know Let me tell you a few more things about my life. As you may recall, I am divorced from my wife. Alice I know that it's unusual, but ex-wife gets him every other weekend. I pay the vast majority of my son's expenses. I think Alice should have to pay some child support, but she doesn't have to pay a dime. The judge didn't owe me that much, I guess. I had to move this year after getting my job at Roca Cola. We moved on February 3 of this year, and I worked my job at Roca Cola for the rest of the year. I still live in the same state, but I moved 500 miles away from my old house. I hired a moving company to move our stuff at a cost of $2.300 and I drove Junior in my cat Junior and I got a hotel room along the way that cost us,$65 love Super 8) Doing Boston Can you believe I'm still paying off my student loans even after 15 years? I paid a total of $900 in interest on my old student loans this year This income Remember when I told you about that guy that hit me with his car? I had a bunch of medical expenses that were not reimbursed by the lawsuit or by my insurance. I incurred a total of $20.000 in medical expenses, and I was only reimbursed for $11.000 Good thing I can write of medical expenses, right? I contributed a lot of money to charity this year (and have receipt documentation for all contributions). I'm such a nice guy! I gave $1,000 in cash to the March of Dimes. I contributed some of my old furniture to the church. It was some good stuff I contributed a red velvet couch and my old rocliner. The furniture is considered vintage and is worth $5,000 today (the appraiser surprised me!), even though I only paid $1,000 for it back in the day. When I contributed the furniture, the pastor said he didn't like the fabric and was going to sell the furniture to pay for some more pews in the church Oh well, some people just have no taste right? Roca Cola had a charity drive for the United Way this year and I contributed 590. Turns out, I don't even miss it because Roca Cola takes it right off my paycheck every month $15 a month starting in July. My pay stub verifies that i contributed the $90 to the United Way, Oh, one other bit of chanty from me this year. An old buddy of mine was down on his luck. He lost his job and his house. I gave him $500 to help him out 2020 I paid a lot of money in interest this year, I paid a total of $950 in persone che ait card interest. I also paid $18,000 in interest on my $500.000 home mortgage that helped me buy my dream home. I also paid $2,000 in real estate 18xes for my new house. A few other things I want to tell you about this year. Someone broke into my house and stole my kid's brand new bicycle and my set of golf clubs. The total loss from theft was $900. I paid $125 in union does this year. I had to pay $1.200 for new suits for my Job Roca Cola requires its managers to wear suits every day on the job. I spent a total of $1.300 to pay for gas to commute to my job this year. Oh, this is pretty cool. I've always wanted to be a firefighter. I spent $1,400 in tuition to go to the local firefighter's school. I did this because someone told me that I can deduct the tuition as an itemized deduction, so the money would be coming back to me. That should be all the information you need right now. Please calculate my taxable income and complete page 1 of Form 1040 (through taxable income, line 15) and Schedule A. You're still doing this for free, right? a. Calculate the taxable income. $ 172.900 Gross income AGI Itemized Deductions: Mortgage Interest Real Estate Taxes 2.000 Charitable Contributions 2,090 0 (4,090) $ (4,090) Taxable income 51040 Dory--more U.S. Individual Income Tax Return 2020 OMEN 1545-001-Domace Filing Status Single Mameding ty Mameding party MS Head of household HOHED Oying widow OW W you checked the MFS box, enter the name of your pouyou checked the HOH Orow box, enter the child's name if the quality ng Your social security number Check only one box person is a child but not your dependent Your first name and midden jums's first name and made Spousal security number Foron courtya La 1 1 Home address bumber and you ROBOX Apt.no Presidential Section Campo Check here if you or your City, town, or post offer you have a long dresses Spouse ting joy, want 53 2P to go to this fund. Checking a box below will not change Force Foto your tax refund You Spouse At any time during 2020, did you receive, seksord, exchange, or otherwise our any financial interest in any virtual currency Yes No Standard Someone can calme You as a dependent Your spouse as a dependent Deduction Spouse items on a separate retur or you were adultes Aps/Stinaess You Were bom before January 2, 1966 Arbind Spouse Was bombefore January 2, 1956 Is blind Dependents (see instructions: Sort Viestor instruction more (1) Firme umber you Chad credit Credit for other depender than four dependents se instructions and check here Wagos, salaries, tips, te Attach For W-2 Attach 20 Tax-exempt interest 2 Tabest 2b Sch. Bir 3a Osified dividends 3a required b Ordinary dividends 3b 4aIRA distributions 4 Tabout 4b 5 Pensions and annuities 5 Tablamount 5b Standard 6a Social security benefits Taxable amount 6b Deduction for 7 Capital gain or foss). Attach Sched Droid not required, check here 7 Single Mandag Other Income from Schedule 1. line 2 separately $12.400 9 Add lines 1. 20, 3, 4, 5, 6, 7 and 8. This is your total income 9 Marding 10 Adjustments to income Joy of Og From Schedule 1. line 22 100 ww S00 b Charitable contributions if you take the standard duction Ser instructions 10b Head of c Add lines 10 and 10. These are your total adjustments to income 100 household $18.650 11 Subtract lino 10c from line 3. This is your adjusted gross income 11 - If you checked 12 Standard deduction or itemized deductions from Schedule 12 any bok under Standard 13 Qualified business income deduction Attach For 2995 or Form 3995-A 13 Deduction 14 Add lines 12 and 13 14 actions 15 Taxable income. Subtract line 14 from line 11. It zoro or less enter -- 15 For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, se separate instructions For 1040 2000 AA SCHEDULE A Form 1000 Daha Itemized Deductions OM 1545-0074 Go to www.ingow Schedule for instruction and the latest information 2020 Anach to Form 1040 1040-SAL. her from Brick Caution: If you are claiming a ned deserto on Fomentutions for line 16 S No. 07 how on Form 1040 104 Your security number Medical and Dental Expenses Taxes You Paid Caution: Do not include expenses rembursed or paid by others. 1 Medical and dental expenses instructions 1 2 Enter amount from Form 1000 of 1040 SR 11 21 3 Multiply line 2 by 7.5% (0.075) 3 4 Subtract line 3 from line 1. line 3 in more than in 1. enter- 5 State and locales a State and local income taxes or general al taxes. You may include either income taxes or general sales te online, but not both. If you elect to include general sales tead of income tas check this box O sa b State and local real estate de instructions 55 c State and local personal property taxes 5c dAdd lines Sa through 5c 5d e Enter the smaller of line 5d or $10.000 ($5.000 married ling 50 separately! 6 Other taxes. Listype and amount Interest You Paid Caution You mortgages deduction may be mode reston 7 Add lines 5e and G 8 Home mortgage interest and points. If you didn't use all of your home mortgage loans to buy build, or improve your home, see instructions and check this box . a Home mortgage interest and points reported to you on Form 1098 See instructions if limited Sa Home mortgage interest not reported to you on Form 1098. See Instructions it limited. If paid to the person from whom you bought the home, see instructions and show that person's name. Identifying no. and address rules eb cPoints not reported to you on Form 109. Soe instructions for special 80 d Mortgage insurance premiums instructions) led e Add lines through ad Be 9 Investment interest. Attach Form 1952 frequired. See instructions 9 10 Add lines Be and 9 10 Gifts to 11 Gifts by cash or check. If you made any gift of $250 or more, 500 Charity instructions 11 Caution you 12 Other than by cash or check. If you made any gift of $250 or more made a gift and 12 pot able for it See instructions. You must attach Form 8283 it over $500 ne instruction 13 Carryover from prior year 13 14 Add lines 11 through 13 14 Casualty and 15 Casualty and theft lossles) from a federally declared disaster (other than not qualified Theft Losses disaster losses). Attach Form 4684 and enter the amount from line 18 of that form. See instructions 15 Other 16 Other-from list in instructions. List type and amount Itemized Deductions 16 Total 17 Add the amounts in the far right column for lines through 16. Also, enter this amount on Itemized Form 1040 or 1040-SR line 12 17 Deductions 18 If you elect to itemize deductions even though they are less than your standard deduction check this box CTC Schede A Fon 10401 2020 For Paperwork Reduction Act Notice, see the Instructions for Forms 104 and 1040-SA

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