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John and Shannon O'Banion, who live at 3222 Pinon Drive, Mesa, CO 81643, file as married filing jointly. John's social security number is 412-34-5670
John and Shannon O'Banion, who live at 3222 Pinon Drive, Mesa, CO 81643, file as married filing jointly. John's social security number is 412-34-5670 (date of birth 5/12/1982), and Shannon's is 412-34-5671 (date of birth 11/3/1984). John's W-2 contained the following information: Wages (box 1) = Federal W/H (box 2) = Social security wages (box 3) = Social security W/H (box 4) = Medicare wages (box 5) = Medicare W/H (box 6) = $ 66,346.74 $ 5,224.75 $ 66,346.74 $ 4,113.50 $ 66,346.74 $ 962.03 Shannon did not work for the year due to a medical condition but did receive unemployment compensation of $2,711 for the federal withholding of $340.25. In the same year, they had the following medical costs: Shannon's prescribed diabetes medication Shannon's hospital charges $ 4,250 9,350 Shannon's regular physician visits 835 Shannon's eye doctor 75 Shannon's diabetes blood testing supplies Insurance reimbursements 685 1,925 In addition, they had the following other expenses: State income taxes $ 4,950 Real estate property taxes 4,170 Car loan interest 500 Personal property taxes 765 Cash charitable contributions (made ratably throughout the year to their church) 2,135 Mortgage interest expense 9,970 Union dues for John 575 175 year with Tax preparation fees Required: Prepare a Form 1040 with a Schedule 1 and Schedule A for the O'Banions using any appropriate worksheets. (List the names of the taxpayers in the order in which they appear in the problem. 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.) Use the appropriate Tax Tables. 1040 for a couple Married Filing Jointly with no dependents.
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