Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jose and Dora Hernandez are married filing jointly. They are 50 and 45 years old, respectively. Their address is 32010 Lake Street, Atlanta, GA

image

Jose and Dora Hernandez are married filing jointly. They are 50 and 45 years old, respectively. Their address is 32010 Lake Street, Atlanta, GA 30294. Additional information about Mr. and Mrs. Hernandez is as follows: Social security numbers: Jose: 412-34-5670 Date of birth: 4/23/1967 W-2 for Jose shows these amounts: Dora: 412-34-5671 Date of birth: 7/12/1972 W-2 for Dora shows these amounts: Wages (box 1) $45,800.00 Federal W/H (box 2) $ 6,160.00 Social security wages (box 3) $45,800.00 Social security W/H (box 4) - $ 2,839.60 Medicare wages (box 5) $45,800.00 Medicare W/H (box 6) - $ 664.10 Form 1099-INT for Jose and Dora shows this amount Box 1 $300.00 from City Bank. Wages (box 1) $31,000.00 Federal W/H (box 2) - $ 3,650.00 Social security wages (box 3) Social security W/H (box 4) Medicare wages (box 5) $31,000.00 $1,922.00 $31,000.00 Medicare W/H (box 6) - 5 449.50 Dependent: Daughter Adela is 5 years old. Her date of birth is 3/15/2012. Her social security number is 412-34-5672 Jose is a store manager, and Dora is a receptionist. Prepare the tax return for Mr. and Mrs. Hernandez using the appropriate form. They are entitled to a $1,000 child tax credit (this credit is discussed in Chapter 9). For now, enter the credit on the appropriate line of the form. Both Jose and Dora want to contribute to the presidential election campaign. Mr. and Mrs. Hernandez had qualifying health care coverage at all times during the tax year. (List the names of the taxpayers in the order in which they appear in the problem. Input all the values as positive numbers.) Hre the annranriate Tay Tables

Step by Step Solution

3.38 Rating (151 Votes )

There are 3 Steps involved in it

Step: 1

To prepare the tax return for Mr and Mrs Hernandez well use Form 1040 which is the US Individual Inc... 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

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

More Books

Students also viewed these Accounting questions

Question

=+c) Is it necessary to assume the blocks are independent? Why?

Answered: 1 week ago

Question

=+d) Whats the standard deviation?

Answered: 1 week ago