I need to use the tax information from the numbers provided in 2017 and input them into the 2018 1040 with the new tax rates and schedules.
Tex Computation Example - 2017 Total salary Dividend and interest - total Interest Dividend Personal exempn Standard deduction Itemized deduction Tax credit Tax withheld and prepaid Salary Dividend and interest Gross income Deduction for AGI AGE itemized deductions Income before personal and dependency exemption Personal exemption (Family of four) Taxable income U.S. tax liability before eredit Tax credit U.S. tax liability Tax withheld and prepaid Tax refund or applied to next year 10.11 payment Tax owe Tax withheld and prepaid $187,000 $13,000 2,000 1 1,000 $4,050 $12,700 $15,000 $1,800 $30,000 $1 87,000 m $200,000 211.900 180,000 ' 15,000 165,000 |' 16,2001 148,800 28,673 1.3.01! m $30,000 3,123 $3 0,000 Form 1040 (2018) Page 1 Wages, salaries, tips, etc. Attach Form(s) W-2 Attach Form(s) 2a Tax-exempt interest . 2a b Taxable interest 2b W-2. Also attach 3a Qualified dividends 3a b Ordinary dividends 3b Form(s) W-2G and 1099-R if tax was 4a IRAs, pensions, and annuities b Taxable amount 4b withheld. 5a Social security benefits 5a b Taxable amount 5b Total income. Add lines 1 through 5. Add any amount from Schedule 1, line 22 6 Adjusted gross income. If you have no adjustments to income, enter the amount from line 6; otherwise, Standard subtract Schedule 1, line 36, from line 6 Deduction for - 8 co . Single or married Standard deduction or itemized deductions (from Schedule A) filing separately, 9 Qualified business income deduction (see instructions) . $12,000 Married filing 10 Taxable income. Subtract lines 8 and 9 from line 7. If zero or less, enter -0- jointly or Qualifying 1 a Tax (see inst.) _(check if any from: 1 Form(s) 8814 2 Form 4972 3 widow(er), $24,000 b Add any amount from Schedule 2 and check here Head of 12 a Child tax credit/credit for other dependents b Add any amount from Schedule 3 and check here 12 household $18,000 13 Subtract line 12 from line 11. If zero or less, enter -0- 13 . If you checked any box under 14 Other taxes. Attach Schedule 4 . Standard 15 Total tax. Add lines 13 and 14 15 deduction, see instructions. 16 Federal income tax withheld from Forms W-2 and 1099 17 Refundable credits: a EIC (see inst.) b Sch. 8812 c Form 8863 Add any amount from Schedule 5 18 Add lines 16 and 17. These are your total payments 18 Refund 19 If line 18 is more than line 15, subtract line 15 from line 18. This is the amount you overpaid 19 20a Amount of line 19 you want refunded to you. If Form 8888 is attached, check here 20a Direct deposit? See instructions. b Routing number c Type: Checking Savings d Account number -..... 21 Amount of line 19 you want applied to your 2019 estimated tax Amount You Owe 22 Amount you owe. Subtract line 18 from line 15. For details on how to pay, see instructions 22 Estimated tax penalty (see instructions) . Go to www.irs.gov/Form1040 for instructions and the latest information. Form 1040 (2018)
