If possible I need help with this problem. Thnxs in advance :) During the 2021 tax year, Thomas Payer ( SS 211-25-8598) ( 66 year old) received $14,900 in Social Security benefits. Also received $10,000 in tax-exempt interest income and has no for AGI deductions. His wife Lonnie Payer ( SS 212-65-8978) have 65 year old, and earned $26,500 from salary and tax withheld of $2,590. Thomas worked only 4 months of the year and eamed $15,200. and tax withheld $1,180. After that he retired forever. Tomas began receiving benefits under a Annuity. He received his first payment in May. The monthly payment is $1.500. He contributed $40.000. Lonnie has a Certificate of Deposit in the State Bank that generated $600 in interest revenue. Instructions: 1. Prepare Form 1040SR and applied all theory related to Annuities, Pensions, Social Security and other sources of income. Also applied the deductions, exemptions, etc , studied in cahpater 1 and 2 . Don't forget the ages. HINTS: A. Used the Simplified Method, Social Security Worksheet Digital At any time during 2022, did you: (a) recelve (as a reward, award, or payment for Assets property or services); or (b) sell, exchange, gitt, or othenwise dispose of a digital Atandard Someone can claim: You as a dependent (See instructions.). Your spouse as a dependent Yo Deduction Spouse itemizes on a separate retum or you were a dual-status alien Form 1040-SR (2022) Page 2 8 Other income from Schedule 1, line 10 9 Add lines 1z,2b,3b,4b,5b,6b,7, and 8 . This is your total income 10 Adjustments to income from Schedule 1, line 26 \begin{tabular}{|c|} \hline 8 \\ \hline 9 \\ \hline 10 \\ \hline \end{tabular} Standard 11 Subtract line 10 from line 9 . This is your adjusted gross income Deduction 12 Standard deduction or itemized deductions (from Schedule A) Sen Standurd Deducbon Chat 13 Qualified business income deduction from Form 8995 or Form 8995-A. Dedicton Chart on the iast page 14 Add lines 12 and 13 athis form 15 Subtract line 14 from line 11 . If zero or less, enter -0 . This is your taxable income .............................. 15 Tax and 16 Tax (see instructions). Check if any from: Credits 1 Form(s) 88142 Form(s) 49723 17 Amount from Schedule 2, line 3 18 Add lines 16 and 17 19 Child tax credit or credit for other dependents from Schedule 8812 20 Amount from Schedule 3, line 8 . 21 Add lines 19 and 20. 22 Subtract line 21 from line 18 . If zero or less, enter -0 - 23 Other taxes, including self-employment tax, from Schedule 2, line 21 25 Federal income tax withheld from: a Form(s) W2...........25a b Form(s) 1099...............25b c Other forms (see instructions) d Add lines 25 a through 25 c....................... 25d 262022 estimated tax payments and amount applied from 2021 return .. 26 Go to www.irs.gowiform 1040SR for instructions and the latest information. Form 1040-SR (2020) Form 1040-sA (2022) Page 3 Third Party Do you want to allow another person to discuss this return with the IRS? See Designee instructions instructions Yes. Complete below. No \begin{tabular}{lll|l|l|l|} & Designee's & Phone & Personal identification \\ name & Under penalties of perjury, I declare that i have examined this retum and accompanying schedules and statements, and to the best \\ Sign & of my knowiedge and belief, they are true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all \end{tabular} Here intormation of which preparer has any knowledge