income tax fundamentals 2020

Carl Conch 1234 Mallory Square 264 Key West, FL 33040 TOW Mary is divorced and she pays her ex-husband (Tom Tortuga) child support. Pur- suant to their 2016 divorce decree, Mary pays Tom $500 per month in child support. All payments were made on time in 2019. In June 2019, Mary's father gave her a cash sift of $75,000. Mary also received un employment compensation as shown on the following Form 1099-G: CORRECTED checked on oury. P repare con 1545-010 S 2.989.00 PAVERSOS d er Florida Dept of Econ Opportunity 107 E. Jefferson St. Tallahassee, FL 32399 2019 Certain Government Payments For 1090-G Copy B For Recipient 21-5556666 3633-65-7912 $ 170.00 RECIPIENTS Mary Duval 1234 Mallory Sq. *64 City Browse or province, country and Proposal code Key West, FL 33040 Acumber Form 1099-G for your records www.w m1000 Department of the Treasury - nemal Revenue Service Mary won a $775 prize in a women's club raffle in 2019. No income tax was withheld from the prize. The Key Lime Pie Company provides Carl with a company car to drive while he is working. The Company spent $6,475 to maintain this vehicle during 2019. Carl never uses the car for personal purposes. The Key Lime Pie Company also provides a cafete- ria for all employees on the factory premises. Other restaurants exist in the area and so Carl is not required to eat in the cafeteria, but he typically does. The value of Carl's meals is $650 in 2019. Required: Complete Carl and Mary's federal tax return for 2019 on Form 1040 and Schedule 1. Carl Conch 1234 Mallory Square 264 Key West, FL 33040 TOW Mary is divorced and she pays her ex-husband (Tom Tortuga) child support. Pur- suant to their 2016 divorce decree, Mary pays Tom $500 per month in child support. All payments were made on time in 2019. In June 2019, Mary's father gave her a cash sift of $75,000. Mary also received un employment compensation as shown on the following Form 1099-G: CORRECTED checked on oury. P repare con 1545-010 S 2.989.00 PAVERSOS d er Florida Dept of Econ Opportunity 107 E. Jefferson St. Tallahassee, FL 32399 2019 Certain Government Payments For 1090-G Copy B For Recipient 21-5556666 3633-65-7912 $ 170.00 RECIPIENTS Mary Duval 1234 Mallory Sq. *64 City Browse or province, country and Proposal code Key West, FL 33040 Acumber Form 1099-G for your records www.w m1000 Department of the Treasury - nemal Revenue Service Mary won a $775 prize in a women's club raffle in 2019. No income tax was withheld from the prize. The Key Lime Pie Company provides Carl with a company car to drive while he is working. The Company spent $6,475 to maintain this vehicle during 2019. Carl never uses the car for personal purposes. The Key Lime Pie Company also provides a cafete- ria for all employees on the factory premises. Other restaurants exist in the area and so Carl is not required to eat in the cafeteria, but he typically does. The value of Carl's meals is $650 in 2019. Required: Complete Carl and Mary's federal tax return for 2019 on Form 1040 and Schedule 1