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 withholding as the manager of a local casino for 2015 are: Earnings from Lucky Ace Casino $194,000 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 $13,575. John pays his ex-wife $4000 per month. When their 12 year old child (in the wifes custody) reaches 18, the payments are reduced to $2750 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 1760 Auto loan interest 4300 Auto insurance 900 Property taxes on personal residence 6300 Blue Cross health insurance premiums 2800 Other medical expenses 790 Income tax preparation fee 900 Charitable contributions: Boy Scouts 1350 St. Matthews Church 3000 U. of Nevada (Reno) medical school 26,900 Nevada Democratic Party 250 Fund-raising dinner for the Reno Auto museum 100 (value of dinner is $25) John also received the following Form 1098: Reno Bank and Trust, 49 Commerce Street, Reno, Nevada 89501 Federal Id# 33-1234569, SS# 555-94-9358 Borrowers Name John Williams, 1324 Forest Drive, Reno, NV 89501 Mortgage Interest 18,900 Complete Johns federal tax return for 2015. Use form 1040, Schedule A, and Schedule B, from Pages 5-51 through 5-54 to complete this tax return. Make realistic assumptions about any missing data.
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