Question
John Williams (age 42) is a single taxpayer, and he lives at 1324 Forest Dr., Reno, NV 89501. His Social Security number is 555-94-9358. Johns
John Williams (age 42) is a single taxpayer, and he lives at 1324 Forest Dr., Reno, NV 89501. His Social Security number is 555-94-9358. Johns earnings and withholdings as the manager of a local casino for 2013 are: Earnings from the Lucky Ace Casino $195,000 Federal income tax withheld 32,000 State income tax withheld 0 Johns other income includes interest on a savings account at Nevada National Bank of $13,075. John pays his ex-wife $4,000 per month. When their 12-year-old child (in the wifes custody) reaches 18, the payments are reduced to $2,800 per month. His ex-wifes Social Security number is 554-44-5555. During the year, John paid the following amounts (all of which can be substantiated): Credit card interest $ 1,760 Auto loan interest 4,300 Auto insurance 900 Property taxes on personal residence 6,200 State and local sales taxes actually paid during 2013 4,000 Blue Cross health insurance premiums 1,800 Other medical expenses 790 Income tax preparation fee 900 Charitable contributions: Boy Scouts 800 St. Matthews Church 300 U. of Nevada (Reno) Medical School 30,000 Nevada Democratic Party 250 Fund-raising dinner for the Reno Auto Museum 100 (Value of dinner is $50) John also received the following Form 1098: Required: Complete Johns federal tax return for 2013. Use Form 1040, Schedule A, and Schedule B to complete this tax return. Make a realistic assumption about any missing data.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started