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I need help putting this information in the correct spots on the tax return Required Information [The following information applies to the questions displayed below.]
I need help putting this information in the correct spots on the tax return
Required Information [The following information applies to the questions displayed below.] Reba Dixon is a fifth-grade school teacher who earned a salary of $38,000 in 2021. She is 45 years old and has been divorced for four years. She receives $1,200 of alimony payments each month from her former husband (divorced In 2016). Reba also rents out a small apartment building. This year Reba received $50,000 of rental payments from tenants and she incurred $19,500 of expenses associated with the rental. Reba and her daughter Heather (20 years old at the end of the year) moved to Georgia in January of this year. Reba provides more than one-half of Heather's support. They had been living in Colorado for the past 15 years, but ever since her divorce, Reba has been wanting to move back to Georgia to be closer to her family. Luckily, last December, a teaching position opened up and Reba and Heather decided to make the move. Reba paid a moving company $2,390 to move their personal belongings, and she and Heather spent two days driving the 1,740 miles to Georgia. Reba rented a home in Georgia. Heather decided to continue living at home with her mom, but she started attending school full-time in January and throughout the rest of the year at a nearby university. She was awarded a $3,590 partial tuition scholarship this year, and Reba helped out by paying the remaining $500 tuition cost. If possible, Reba thought it would be best to claim the education credit for these expenses. Reba wasn't sure if she would have enough items to help her benefit from itemizing on her tax return. However, she kept track of several expenses this year that she thought might qualify if she was able to Itemize. Reba pald $7,010 In state Income taxes and $15,120 in charitable contributions during the year. She also paid the following medical-related expenses for herself and Heather: Insurance premiums Medical care expenses Prescription medicine Nonprescription medicine New contact lenses for Heather $ 9,680 $ 1,180 $ 540 $ 180 $ 200 Shortly after the move, Reba got distracted while driving and she ran into a street sign. The accident caused $1,090 in damage to the car and gave her whiplash. Because the repairs were less than her Insurance deductible, she paid the entire cost of the repairs. Reba wasn't able to work for two months after the accident. Fortunately, she received $2,000 from her disability Insurance. Her employer, the Central Georgia School District, paid 60 percent of the premiums on the policy as a nontaxable fringe benefit and Reba pald the remaining 40 percent portion. A few years ago, Reba acquired several Investments with her portion of the divorce settlement. This year she reported the following income from her Investments: $2,200 of Interest Income from corporate bonds and $1,880 Interest Income from City of Denver municipal bonds. Overall, Reba's stock portfolio appreciated by $14,490, but she did not sell any of her stocks. Heather reported $6,900 of Interest Income from corporate bonds she received as gifts from her father over the last several years. This was Heather's only source of income for the year. Reba had $12,080 of federal Income taxes withheld by her employer. Heather made $1,190 of estimated tax payments during the year. Reba did not make any estimated payments. Assume Reba received the correct advance payment for her 2021 Individual recovery credit. Your spouse as a dependent Standard Deduction Are blind Age/Blindness Dependents Someone can claim: You as a dependent Spouse itemizes on a separate return or you were a dual-status alien You: Were born before January 2, 1956 (see instructions): (1) First name Last name Heather Dixon (2) Social security number Spouse: Was bom before January 2, 1958 Is blind (3) Relationship to you (4) vif qualifies for (see instructions): Child tax credit Credit for other dependents Daughter 222-22-2222 If more than four dependents, see structions and check nere 1 38.000 2b Attach Sch. Bit required 2a 3a 3b 1 Wages, salaries, tips, etc. Attach Fom(s) W-2 2a Tax-exempt interest 3a Qualified dividends 4a IRA distributions 5a Pensions and annuities Ba Social security benefits b Taxable interest b Ordinary dividends. b Taxable amount b Taxable amount 4b 4a 5a 5b ba b Taxable amount 6b 7 Capital gain or loss). Amount. 7 8 9 38,000 10a Standard Deduction for- Single or Married Filing separately $12.400 - Married filing jointly or Qualifying vidow(er) $24.800 Head of household $18.650 - If you checked any box under Standard Deduction, see instructions. 8 Other income from Schedule 1, line 9 9 Add lines 1, 2b. 36, 45, 56, 66, 7, and 8. This is your total income 10 Adjustments to income a From Schedule 1, line 22 b Charitable contributions if you take the standard deduction. See instruction Add lines 10a and 10b. These are your total adjustments to income 11 Subtract line 10c from line 0. This is your adjusted gross income 12 Standard deduction or itemized deductions (from Schedule 13 Qualified business income deduction. Attach Form 8995 or Form 8995-A 10b 10c 11 38,000 12 13 14 0 14 Add lines 12 and 13 15 Taxable income. Subtract line 14 from line 11. If zero or less, enter -- 15 38,000 nnnn Form 1040 (2020) Page 2 16 Tax (see instructions). Amount 8814 4972 16 17 18 19 20 21 METODE 17 Amount from Schedule 2. line 3... 13 Add lines 16 and 17. 19 Child tax credit or credit for other dependents 20 Amount from Schedule 3, line 7 21 Add lines 19 and 20 22 Subtract line 21 from line 18. If zero or less, enter- 23 Other taxes, including self-employment tax, from Schedule 2. line 10 24 Add lines 22 and 23. This is your total tax 25 Federal income tax withheld from: a Form(s) W-2 b Formis) 1090 c Other forms (see instructions) d Add lines 25a through 250 22 23 24 26a 12,080 25b 250 25d 12,080 - If you have a qualifying child, attach Sch. EIC 28 2020 estimated tax payments and amount applied from 2019 return. 26 27 28 - If you have nontaxable combat pay see instructions. 29 30 31 27 Earned income credit (EIC) 28 Additional child tax credit. Attach Schedule 8812 29 American opportunity credit from Form 8863, line 8 30 Recovery rebate credit. See instructions 31 Amount from Schedule 3. line 13 32 Add lines 27 through 31. These are your total other payments and refundable credits 33 Add lines 25d, 26, and 32. These are your total payments 34 If line 33 is more than line 24, subtract line 24 from line 33. This is the amount you overpaid 35a Amount of line 34 you want refunded to you. Routing number d Account number 32 0 33 12,080 Refund 34 35a Fc Type: Checking Savings Direct deposit? See instructions 38 Amount of line 34 you want applied to your 2021 estimated tax 38 Amount You Owe 37 Subtract line 33 from line 24. This is the amount you owe now 37 Note: Schedule H and Schedule SE Filers, line 37 may not represent all of the taxes you owe for 2020. See Schedule 3, line 12e, and its instructions for details 38 Estimated tax penalty (see instructions) 38 For details on how to pay. see instructions. Third Party Designee Do you want to allow another person to discuss this return with the IRS? See instructions Yes. Complete below. No Designee's name Phone . Personal identification number (PIN) SCHEDULE 1 (Form 1040) Additional Income and Adjustments to Income OMB No. 1545-0074 2020 Department of the Treasury Internal Revenue Service Name(s) shown on Form 1040, 1040-SR, or 1040-NR Attach to Form 1040, 1040-SR, or 1040-NR. Go to www.irs.gov/Form 1040 for instructions and the latest information. Attachment Sequence No. 01 Your social security number Part 1 1 2a 2a 14.400 b Year 2016 3 3 Additional Income Taxable refunds, credits, or offsets of state and local income taxes Alimony received Date of original divorce or separation agreement (see instructions) Business income or loss). Attach Schedule o Other gains or losses). Attach Form 4797 Rental real estate, royalties, partnerships, Scorporations, trusts, etc. Attach Schedule E Farm income or loss). Attach Schedule F Unemployment compensation Other income. Amount. 4 4 5 5 6 6 7 7 8 8 9 9 14.400 Part II Combine lines 1 through 8. Enter here and on Form 1040, 1040-SR, or 1040-NR, line 8 Adjustments to Income Educator expenses 10 10 11 11 12 12 13 13 14 14 15 15 16 16 Certain business expenses of reservists, performing artists and fee-basis government officials. Attach Form 2108 Health savings account deduction. Attach Form 8889 Moving expenses for members of the Armed Forces. Attach Form 3903 Deductible part of self-employment tax Attach Schedule SE Self-employed SEP, SIMPLE, and qualified plans Self-employed health insurance deduction Penalty on early withdrawal of savings Alimony paid Recipient's SSN Date of original divorce or separation agreement (see instructions) IRA deduction Student loan interest deduction Tuition and fees deduction. Attach Form 8917 17 18a 17 18a b 19 19 20 21 20 21 22 Add lines 10 through 21. These are your adjustments to income. Enter here and on Form 1040 1040-SR or 1040-NR, line 10a 22 CADRUL Dodation At Matiaturn intruction + M 74479 Sabadulo 0401209 Form 1040 Schedule 3. OMB No. 1545-0074 SCHEDULE 3 (Form 1040) Department of the Treasury Intemal Revenue Service Name(s) shown on Form 1040 or 1040-SR Additional Credits and Payments Attach to Form 1040 or 1040-SR. Go to www.irs.gov/Form 1040 for instructions and the latest information 2020 Attachment Sequence No. 03 Your social security number 1 3 4 Part | Nonrefundable Credits 1 Foreign tax credit. Attach Form 1116 if required 2 Credit for child and dependent care expenses. Attach Form 2441 2 3 Education credits from Form 8983, line 19 4 Retirement savings contributions credit. Attach Form 8880 5 Residential energy credits. Attach Form 5895 5 6 Other credits from Form a 3800 b 8801 6 7 Add lines 1 through B. Enter here and on Form 1040, 1040-SR, or 1040-NR, line 20 7 Part II Other Payments and Refundable Credits 8 Net premium tax credit. Attach Form 8962 8 9 Amount paid with request for extension to file (see instructions) 9 10 Excess social security and tier 1 RRTA tax withheld 10 11 Credit for federal tax on fuels. Attach Form 4138 11 12 Other payments or refundable credits: a Form 2439 12a b Qualified sick and family leave credits from Schedule(s) H and Form(s) 7202 12b c Health coverage tax credit from Form 8885 12c d Other 120 l e Deferral for certain Schedule Hor SE filers (see instructions) 12el fAdd lines 12a through 12e 12f 13 Add lines 8 through 12f. Enter here and on Form 1040, 1040-SR, or 1040-NR, line 31 13 For Paperwork Reduction Act Notice, see your tax return instructions. Cat No. 71480G Schedule 3 (Form 1040) 2020 THIS FORM IS A SIMULATION OF AN OFFICIALUS TAX FORM IT IS NOT THE OFFICIAL FORM ITSELF DO NOT USE Required Information [The following information applies to the questions displayed below.] Reba Dixon is a fifth-grade school teacher who earned a salary of $38,000 in 2021. She is 45 years old and has been divorced for four years. She receives $1,200 of alimony payments each month from her former husband (divorced In 2016). Reba also rents out a small apartment building. This year Reba received $50,000 of rental payments from tenants and she incurred $19,500 of expenses associated with the rental. Reba and her daughter Heather (20 years old at the end of the year) moved to Georgia in January of this year. Reba provides more than one-half of Heather's support. They had been living in Colorado for the past 15 years, but ever since her divorce, Reba has been wanting to move back to Georgia to be closer to her family. Luckily, last December, a teaching position opened up and Reba and Heather decided to make the move. Reba paid a moving company $2,390 to move their personal belongings, and she and Heather spent two days driving the 1,740 miles to Georgia. Reba rented a home in Georgia. Heather decided to continue living at home with her mom, but she started attending school full-time in January and throughout the rest of the year at a nearby university. She was awarded a $3,590 partial tuition scholarship this year, and Reba helped out by paying the remaining $500 tuition cost. If possible, Reba thought it would be best to claim the education credit for these expenses. Reba wasn't sure if she would have enough items to help her benefit from itemizing on her tax return. However, she kept track of several expenses this year that she thought might qualify if she was able to Itemize. Reba pald $7,010 In state Income taxes and $15,120 in charitable contributions during the year. She also paid the following medical-related expenses for herself and Heather: Insurance premiums Medical care expenses Prescription medicine Nonprescription medicine New contact lenses for Heather $ 9,680 $ 1,180 $ 540 $ 180 $ 200 Shortly after the move, Reba got distracted while driving and she ran into a street sign. The accident caused $1,090 in damage to the car and gave her whiplash. Because the repairs were less than her Insurance deductible, she paid the entire cost of the repairs. Reba wasn't able to work for two months after the accident. Fortunately, she received $2,000 from her disability Insurance. Her employer, the Central Georgia School District, paid 60 percent of the premiums on the policy as a nontaxable fringe benefit and Reba pald the remaining 40 percent portion. A few years ago, Reba acquired several Investments with her portion of the divorce settlement. This year she reported the following income from her Investments: $2,200 of Interest Income from corporate bonds and $1,880 Interest Income from City of Denver municipal bonds. Overall, Reba's stock portfolio appreciated by $14,490, but she did not sell any of her stocks. Heather reported $6,900 of Interest Income from corporate bonds she received as gifts from her father over the last several years. This was Heather's only source of income for the year. Reba had $12,080 of federal Income taxes withheld by her employer. Heather made $1,190 of estimated tax payments during the year. Reba did not make any estimated payments. Assume Reba received the correct advance payment for her 2021 Individual recovery credit. Your spouse as a dependent Standard Deduction Are blind Age/Blindness Dependents Someone can claim: You as a dependent Spouse itemizes on a separate return or you were a dual-status alien You: Were born before January 2, 1956 (see instructions): (1) First name Last name Heather Dixon (2) Social security number Spouse: Was bom before January 2, 1958 Is blind (3) Relationship to you (4) vif qualifies for (see instructions): Child tax credit Credit for other dependents Daughter 222-22-2222 If more than four dependents, see structions and check nere 1 38.000 2b Attach Sch. Bit required 2a 3a 3b 1 Wages, salaries, tips, etc. Attach Fom(s) W-2 2a Tax-exempt interest 3a Qualified dividends 4a IRA distributions 5a Pensions and annuities Ba Social security benefits b Taxable interest b Ordinary dividends. b Taxable amount b Taxable amount 4b 4a 5a 5b ba b Taxable amount 6b 7 Capital gain or loss). Amount. 7 8 9 38,000 10a Standard Deduction for- Single or Married Filing separately $12.400 - Married filing jointly or Qualifying vidow(er) $24.800 Head of household $18.650 - If you checked any box under Standard Deduction, see instructions. 8 Other income from Schedule 1, line 9 9 Add lines 1, 2b. 36, 45, 56, 66, 7, and 8. This is your total income 10 Adjustments to income a From Schedule 1, line 22 b Charitable contributions if you take the standard deduction. See instruction Add lines 10a and 10b. These are your total adjustments to income 11 Subtract line 10c from line 0. This is your adjusted gross income 12 Standard deduction or itemized deductions (from Schedule 13 Qualified business income deduction. Attach Form 8995 or Form 8995-A 10b 10c 11 38,000 12 13 14 0 14 Add lines 12 and 13 15 Taxable income. Subtract line 14 from line 11. If zero or less, enter -- 15 38,000 nnnn Form 1040 (2020) Page 2 16 Tax (see instructions). Amount 8814 4972 16 17 18 19 20 21 METODE 17 Amount from Schedule 2. line 3... 13 Add lines 16 and 17. 19 Child tax credit or credit for other dependents 20 Amount from Schedule 3, line 7 21 Add lines 19 and 20 22 Subtract line 21 from line 18. If zero or less, enter- 23 Other taxes, including self-employment tax, from Schedule 2. line 10 24 Add lines 22 and 23. This is your total tax 25 Federal income tax withheld from: a Form(s) W-2 b Formis) 1090 c Other forms (see instructions) d Add lines 25a through 250 22 23 24 26a 12,080 25b 250 25d 12,080 - If you have a qualifying child, attach Sch. EIC 28 2020 estimated tax payments and amount applied from 2019 return. 26 27 28 - If you have nontaxable combat pay see instructions. 29 30 31 27 Earned income credit (EIC) 28 Additional child tax credit. Attach Schedule 8812 29 American opportunity credit from Form 8863, line 8 30 Recovery rebate credit. See instructions 31 Amount from Schedule 3. line 13 32 Add lines 27 through 31. These are your total other payments and refundable credits 33 Add lines 25d, 26, and 32. These are your total payments 34 If line 33 is more than line 24, subtract line 24 from line 33. This is the amount you overpaid 35a Amount of line 34 you want refunded to you. Routing number d Account number 32 0 33 12,080 Refund 34 35a Fc Type: Checking Savings Direct deposit? See instructions 38 Amount of line 34 you want applied to your 2021 estimated tax 38 Amount You Owe 37 Subtract line 33 from line 24. This is the amount you owe now 37 Note: Schedule H and Schedule SE Filers, line 37 may not represent all of the taxes you owe for 2020. See Schedule 3, line 12e, and its instructions for details 38 Estimated tax penalty (see instructions) 38 For details on how to pay. see instructions. Third Party Designee Do you want to allow another person to discuss this return with the IRS? See instructions Yes. Complete below. No Designee's name Phone . Personal identification number (PIN) SCHEDULE 1 (Form 1040) Additional Income and Adjustments to Income OMB No. 1545-0074 2020 Department of the Treasury Internal Revenue Service Name(s) shown on Form 1040, 1040-SR, or 1040-NR Attach to Form 1040, 1040-SR, or 1040-NR. Go to www.irs.gov/Form 1040 for instructions and the latest information. Attachment Sequence No. 01 Your social security number Part 1 1 2a 2a 14.400 b Year 2016 3 3 Additional Income Taxable refunds, credits, or offsets of state and local income taxes Alimony received Date of original divorce or separation agreement (see instructions) Business income or loss). Attach Schedule o Other gains or losses). Attach Form 4797 Rental real estate, royalties, partnerships, Scorporations, trusts, etc. Attach Schedule E Farm income or loss). Attach Schedule F Unemployment compensation Other income. Amount. 4 4 5 5 6 6 7 7 8 8 9 9 14.400 Part II Combine lines 1 through 8. Enter here and on Form 1040, 1040-SR, or 1040-NR, line 8 Adjustments to Income Educator expenses 10 10 11 11 12 12 13 13 14 14 15 15 16 16 Certain business expenses of reservists, performing artists and fee-basis government officials. Attach Form 2108 Health savings account deduction. Attach Form 8889 Moving expenses for members of the Armed Forces. Attach Form 3903 Deductible part of self-employment tax Attach Schedule SE Self-employed SEP, SIMPLE, and qualified plans Self-employed health insurance deduction Penalty on early withdrawal of savings Alimony paid Recipient's SSN Date of original divorce or separation agreement (see instructions) IRA deduction Student loan interest deduction Tuition and fees deduction. Attach Form 8917 17 18a 17 18a b 19 19 20 21 20 21 22 Add lines 10 through 21. These are your adjustments to income. Enter here and on Form 1040 1040-SR or 1040-NR, line 10a 22 CADRUL Dodation At Matiaturn intruction + M 74479 Sabadulo 0401209 Form 1040 Schedule 3. OMB No. 1545-0074 SCHEDULE 3 (Form 1040) Department of the Treasury Intemal Revenue Service Name(s) shown on Form 1040 or 1040-SR Additional Credits and Payments Attach to Form 1040 or 1040-SR. Go to www.irs.gov/Form 1040 for instructions and the latest information 2020 Attachment Sequence No. 03 Your social security number 1 3 4 Part | Nonrefundable Credits 1 Foreign tax credit. Attach Form 1116 if required 2 Credit for child and dependent care expenses. Attach Form 2441 2 3 Education credits from Form 8983, line 19 4 Retirement savings contributions credit. Attach Form 8880 5 Residential energy credits. Attach Form 5895 5 6 Other credits from Form a 3800 b 8801 6 7 Add lines 1 through B. Enter here and on Form 1040, 1040-SR, or 1040-NR, line 20 7 Part II Other Payments and Refundable Credits 8 Net premium tax credit. Attach Form 8962 8 9 Amount paid with request for extension to file (see instructions) 9 10 Excess social security and tier 1 RRTA tax withheld 10 11 Credit for federal tax on fuels. Attach Form 4138 11 12 Other payments or refundable credits: a Form 2439 12a b Qualified sick and family leave credits from Schedule(s) H and Form(s) 7202 12b c Health coverage tax credit from Form 8885 12c d Other 120 l e Deferral for certain Schedule Hor SE filers (see instructions) 12el fAdd lines 12a through 12e 12f 13 Add lines 8 through 12f. Enter here and on Form 1040, 1040-SR, or 1040-NR, line 31 13 For Paperwork Reduction Act Notice, see your tax return instructions. Cat No. 71480G Schedule 3 (Form 1040) 2020 THIS FORM IS A SIMULATION OF AN OFFICIALUS TAX FORM IT IS NOT THE OFFICIAL FORM ITSELF DO NOT USE
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