Question
Jermaine Watson is a single father with a son, Jamal, who qualifies as a dependent. They live at 5678 SE Stark Street, Portland, OR 97233.
Jermaine Watson is a single father with a son, Jamal, who qualifies as a dependent. They live at 5678 SE Stark Street, Portland, OR 97233. Jermaine works at First Bank of Oregon. Jamal attends school and at the end of the school day he goes to a dependent care facility next door to his school where Jermaine picks him up after work. Jermaine pays $800 per month to the care facility (Portland Day Care, 4567 SE Stark Street, Portland, OR 97233. EIN 90-6543210).
Jermaines W-2 from First Bank of Oregon is as follows: Wages (box 1) = $ 61,500.00 Federal W/H (box 2) = $ 4,093.00 Social security wages (box 3) = $ 61,500.00 Social security W/H (box 4) = $ 3,813.00 Medicare wages (box 5) = $ 61,500.00 Medicare W/H (box 6) = $ 891.75 State income taxes (box 17) = $ 1,134.90
Jermaine takes one class a semester at Portland State University towards an MBA degree. In 2017, he paid $1,300 in tuition, $300 for books, and $200 for a meal card.
Jermaine has some investments in a New Zealand public company. He received foreign-source dividends (non-qualified) of $750 during the year. He paid $225 of foreign tax on the foreign income. He also received $350 of interest income from First Bank of Oregon.
Jermaines birthdate is 9/14/1986 and Jamals is 4/22/2007. Their social security numbers are 412-34-5670 and 412-34-5672, respectively. They had qualifying health care coverage at all times during the tax year. Prepare Jermaines federal tax return. Use Form 1040 and any additional appropriate schedules or forms he may need for credits.( Schedule 3, 8863, 1116, 2441) For any missing information, make reasonable assumptions. (Input all the values as positive numbers. Do not round intermediate computations. Instructions can be found on certain cells within the forms. Round your final answers to the nearest whole dollar amount.) Use the appropriate Tax Tables.
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