Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i realky need help with filling the form in the new form of 2022 thank you !! i feel like i have the numbers already

i realky need help with filling the form in the new form of 2022 thank you !! i feel like i have the numbers already i just dont onow wheretgwy go
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Tax Return 1 a - legal income 1,200 b - stock sale 1,000 c - annuitg(25,0002,100/20)14,450 d - disabilify -0 - e- scholarghip 200 F - Paycheck fron - 0 - g-stat income 50 h- intarest income 46,95030,000 a. Ken won $1,200 in an illegal game of poker (the game was played in Utah, where gambling is illegal). b. Ken soid 1,000 shares of stock for $32 a share. He inherited the stock two years ogo. His tax basis (or investment) in the stock was $31 per share. c. Ken recelved $25,000 from an annuity he purchased eight years ago. He purchosed the annuity, to be paid annually for 20 years, for $210,000. d. Ken received $13,000 in disability benefits for the year. He purchased the disability insurance policy last year. e. Ken decided to go back to school to learn about European history. He received o $500 cash scholarship to ortend He used $300 to pay for his books and tuition, and he applied the rest toward his new car payment. f. Ken's 50 , Mike, instructed his employer to make half of his final paycheck of the year payable to Ken as a gift fromi Mike to Ken. Ken received the check on December 30 in the amount of $1,100. 9. Ken received a $610 refund of the $3,600 in state income taxes his employer withheld from his pay last yeac Ken claimed $13,000 in itemized deductions last year (the standard deduction for a single filer was $12,950 ) h. Ken recelved $30,000 of interest from corporate bonds and money market occounts. 2. Complete page 1 of Form 1040 (through line 9) for Ken: Visit the IRS webstie snd downtond Form 1040. Enter the required values in the oppropriate fieldo. Use 2023 tax rules regardiess of the year on the form. Save your completed Tox Form to your computer and then upload it here by clicking "Browse." Next, click "Save." 1040 \begin{tabular}{l|l} U.S. Individual Income Tax Return & 2022 \end{tabular} Filing Status Check only one box. Married fing iointly Marted fling separasely (MFS) Head of household pHOH If you checked the MFS box, enter the name of your spouse. If you checked the HOH or OSS bor, enter the chid's name if the oualifyine person a a chid but not your dependent: \begin{tabular}{|c|c|c|c|} \hline Your fint name and midilie inital & \multicolumn{3}{|l|}{ Last name } \\ \hline If joirt return spouse's frst name and midile intial & \multicolumn{3}{|l|}{ Las nave } \\ \hline & Apt, no. \\ \hline & State & zep code \\ \hline Foreign country rame & \multicolumn{2}{|c|}{ Foregn prowincelutitelourty } & Foregn pontal sode \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ronald W Hilton

7th Edition

0073022853, 978-0073022857

More Books

Students also viewed these Accounting questions

Question

1. Who is your target audience? (everyone cannot be an answer here)

Answered: 1 week ago

Question

What problems have created the client's needs?

Answered: 1 week ago

Question

create simple design pieces exhibiting visual and rhetorical focus.

Answered: 1 week ago