Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jamie and Cecilia Reyes are husband and wife and file ajoint return. They live at 5677 Apple Cove Road, Boise. ID 83722. Jamie's social security

image text in transcribed
image text in transcribed
Jamie and Cecilia Reyes are husband and wife and file ajoint return. They live at 5677 Apple Cove Road, Boise. ID 83722. Jamie's social security number is 412-34-5670 (date of birth 06/1511966) and Cecilia's is 412-34-5671 (date of birth 0411271968). They provide more than half of the support of their daughter, Carmen (age 23), social security number 412-345672 (date of birth 09I01/1992), who is a fulltime veterinarian school student. Carmen received a $3,200 scholarship covering her room and board at college. She was not required to perform any services to receive the scholarship. Jamie and Cecilia furnish all of the support of Maria (Jamie's grandmother), social security number 41234-5673 (date of birth 11/06/1945), who is age 70 and lives in a nursing home. They also have a son, Gustavo (age 4), social security number 412-34-5674 (date of birth 037141'2011). The Reyes and all of their dependents had qualifying health care coverage at all times during the tax year. Jaime's W-2 contained the following information: Federal Wages (box 1) = $ 145,625.00 Federal WIH (box 2) = $ 21,812.50 Social Security wages (box 3) = $ 118,500.00 Social Security WIH (box 4) = $ 7,347.00 Medicare Wages (box 5) = $ 145,625.00 Medicare WIH (box 6) = $ 2,111.56 State Wages (box 16) = $ 145,725.00 State WIH (box 17) = $ 5,435.00 Other receipts for the couple were as follows: Dividends (all qualified dividends) $2,500 Interest income: Union Bank 35 220 State of Idahointerest on tax refund 22 City of Boise school bonds 1,250 Interest from US. savings bonds 410 (not used for educational purposes) 2014 federal income tax refund received in 2015 2,007 2014 state income tax refund received in 2015 218 idaho lottery winnings 1,100 Casino slot machine winnings 2,250 Gambling losses at casino 6,500

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

Accounting

Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett

9th edition

1118608224, 1118608227, 730323994, 9780730323990, 730319172, 9780730319177, 978-1118608227

More Books

Students also viewed these Accounting questions

Question

How is a futures contract trade executed on an exchange?

Answered: 1 week ago

Question

What would you do if the bullies and victim were girls?

Answered: 1 week ago

Question

find all matrices A (a) A = 13 (b) A + A = 213

Answered: 1 week ago

Question

A greater tendency to create winwin situations.

Answered: 1 week ago

Question

Improving creative problem-solving ability.

Answered: 1 week ago