Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Instructions: Please complete the 2020 federal income tax return for Jonathan Hales. Be sure to include only required tax forms when completing the tax return.

Instructions: Please complete the 2020 federal income tax return for Jonathan Hales. Be sure to include only required tax forms when completing the tax return. Ignore the requirement to attach the form(s) W-2 to the front page of the Form 1040. If required information is missing, use reasonable assumptions to fill in the gaps.

Jonathan Hales attended State University as a part-time student during the year. Jonathan lived at home with his parents while working a part-time job. The following information relates to 2020: Jonathans Social Security number is 546-87-9876 His mailing address is 123 Spring Lane, Willow, Texas 77521 Jonathan is a U.S citizen Jonathan was single during the entire year Jonathan turned 19 on July 1 Jonathan does not have any children or provide support for anyone but himself Jonathan lived in a room in the basement of his parents home for all 12 months of the year For the year Jonathans parents provided $16,500 of support including room and board, a car, health insurance, clothing, education, and car insurance. Jonathan was included on his fathers qualified minimum health insurance coverage plan for all 12 months during the year. Jonathan received the following income during the year as reported on a Form W-2: Employer Gross Wages Federal Income Tax Withholding State Income Tax Withholding The Colony 3,675 165 0 Rock Climbing, LLC 1,790 0 0 Community Pool, Inc. 4,235 240 0 All applicable and appropriate payroll taxes were withheld by his various employers. Jonathan received $12 in interest income from the First Bank of Texas during the year. Jonathan did not own, control, or manage any foreign bank accounts, nor was he a grantor or beneficiary of a foreign trust during the tax year. Further, Jonathan did not buy, sell, exchange, or otherwise acquire any financial interest in a virtual currency. Jonathan received two Economic Impact Payments (stimulus checks) in the full amount before filing their 2020 tax return. Jonathan had no itemized deductions. Jonathan does not want to contribute to the Presidential Election Campaign Fund. He would like to receive a refund (if any) of any tax he may have overpaid for the year. His preferred method of receiving the refund is by check.

Just checking my work before I post.

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

Economics In Minutes 200 Key Concepts Explained In An Instant

Authors: Niall Kishtainy

1st Edition

1782066470, 9781782066477

More Books

Students also viewed these Accounting questions