Question
I need help filing out the actually forms!!! Complete the federal tax return below for the current tax year listed above.. Use Form 1040, Schedule
I need help filing out the actually forms!!!
Complete the federal tax return below for the current tax year listed above.. Use Form 1040, Schedule A, and Schedule B to complete this return
Jim Wallace (age 40) is a single taxpayer, and he lives at 1234 Hallmark Way, Warner Robins, GA 31088. His Social Security number is 555-94-9358. Jims earnings and withholdings as a manager of Best Buy for 2016 are:
Earnings from Best Buy $150,000
Federal Income Tax $24,000
State income tax withheld $0
Jims other income includes interest on a savings account at Robins Federal Credit Union for $10,075.
Jim also received a Form 1098 Mortgage Interest Statement from Wells Fargo showing mortgage interest paid on his house in the amount of $20,000 for 2016.
Jim pays his ex-wife $3,000 per month. When their 12-year old child (in the wifes custody) reaches 18, the payments reduce to $1,500 per month. His ex-wifes Social Security number is 554-44-5555.
During the year, Jim paid the following amounts:
Credit card interest $1,800
Auto loan interest $4,500
Auto insurance $900
Property taxes on a personal residence $6,500
States and local sales tax paid in 2016 $4,000
Blue Cross Health insurance premiums $2,000
Other medical expenses $800
Income tax preparation fee $500
Charitable Contributions:
Boy Scouts $600
St. Matthews Church $400
UGA Pharmacy School $30,000
Georgia Republican Party $300
American Red Cross $50
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