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Jose and Maria Suarez are married and live at 9876 Main Street, Denver, CO 80205. Joses SSN is 412-34-5670 and Marias SSN is 412-34-5671. For

Jose and Maria Suarez are married and live at 9876 Main Street, Denver, CO 80205. Joses SSN is 412-34-5670 and Marias SSN is 412-34-5671.

For the first five months of the year, Jose was employed by Mountain Mortgage Company. The Form W-2 from Mountain Mortgage contained information in the following boxes:

Wages (box 1) = $ 35,028.52
Federal W/H (box 2) = $ 3,746.89
Social security wages (box 3) = $ 35,028.52
Social security W/H (box 4) = $ 2,171.77
Medicare wages (box 5) = $ 35,028.52
Medicare W/H (box 6) = $ 507.91

Jose was laid off from his job at Mountain Mortgage and was unemployed for three months. He received $1,000 of unemployment insurance payments. The Form 1099-G Jose received from the state of Colorado contained $1,000 of unemployment compensation in box 1 and $100 of federal income tax withholding in box 4.

During the last four months of the year, Jose was employed by First Mountain Bank in Denver. The Form W-2 Jose received from the bank contained information in the following boxes:

Wages (box 1) = $ 17,820.20
Federal W/H (box 2) = $ 1,767.89
Social security wages (box 3) = $ 17,820.20
Social security W/H (box 4) = $ 1,104.85
Medicare wages (box 5) = $ 17,820.20
Medicare W/H (box 6) = $ 258.39

Maria was employed the entire year by Blue Sky Properties in Denver. The Form W-2 Maria received from Blue Sky contained information in the following boxes:

Wages (box 1) = $ 59,181.12
Federal W/H (box 2) = $ 5,490.80
Social security wages (box 3) = $ 59,181.12
Social security W/H (box 4) = $ 3,669.23
Medicare wages (box 5) = $ 59,181.12
Medicare W/H (box 6) = $ 858.13

The Suarezes also received two Forms 1099-INT showing interest they received on two savings accounts. One Form 1099-INT, from the First National Bank of Northeastern Denver, showed interest income of $59.36 in box 1. The other Form 1099-INT, from Second National Bank of Northwestern Denver, showed interest income of $82.45 in box 1.

Jose and Maria had qualifying health care coverage at all times during the tax year.

Required:

Prepare a Form 1040 for Mr. and Mrs. Suarez. (List the names of the taxpayers in the order in which they appear in the problem. Input all the values as positive numbers. Do not round intermediate computations. Round your final answers to the nearest whole dollar amount.)

Tax table 2020

image text in transcribedimage text in transcribed

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