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In July 2 0 2 2 Kirk and Rasheeda Wallace and their two dependent children moved from Chicago to Albuquerque, New Mexico, a distance of
In July Kirk and Rasheeda Wallace and their two dependent children moved from Chicago to Albuquerque, New Mexico, a distance of miles, which they drove in their own car. The childrens names are Marcus and Tara and both will be attending the University of New Mexico in the fall, Marcus, who graduated high school early, as a freshman and Tara as a junior. The move was a result of a civilian job transfer for Kirk. The distance from their old home to Kirks old office was miles. Rasheeda quit her job in Chicago and decided to perform volunteer work for a year before seeking further employment. Their new home is located at Desert Springs Way, Albuquerque, NM Kirk, but not Rasheeda, was employed in the new location throughout the year. Kirks social security number is date of birth Rasheedas is date of birth Marcuss is date of birth and Taras is date of birth
Kirk is an electrical engineer for a national firm; his W contained the following information:
Wages box $
Federal WH box $
Social security wages box $
Social security WH box $
Medicare wages box $
Medicare WH box $
In addition, both he and Rasheeda received Forms E from the federal student loan program. Kirk had student loan interest of $ and Rasheeda had student loan interest of $ One child, Tara, is eligible for the Credit for other Dependents of $ and the other child, Marcus, is eligible for the Child Tax Credit of $ The total of $ will go on line of Form
Required:
Prepare a Form Schedule and Schedule for Kirk and Rasheeda. Use the appropriate Tax Tables.
Note: List the names of the taxpayers in the order in which they appear in the problem. Do not skip rows when entering data in the Dependents section. Do not round intermediate computations. Round your final answers to the nearest whole dollar amount. Input all the values as positive numbers. Instructions can be found on certain cells within the forms.
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