Question
Kurt and Ashley Mallory (SSNs 412-34-5670 and 412-34-5671), married filing jointly, reside at 1901 Princess Ave., Park City, UT 84060. Kurt does not work outside
Kurt and Ashley Mallory (SSNs 412-34-5670 and 412-34-5671), married filing jointly, reside at 1901 Princess Ave., Park City, UT 84060. Kurt does not work outside the home.
Ashleys W-2 shows the following:
Wages $340,000
Federal withholding 65,000
Social security wages 137,700
Social security withholding 8,537
Medicare withholding 6,190
State withholding 23,800
The Mallory's also have the following: Mortgage interest 12,600 Charitable contributions 10,000
Prepare Form 1040 for the Mallory's for 2021. The taxpayers had qualifying health care coverage at all times during the tax year. You will need Form 1040, Schedule A, Schedule 2, Form 6251, and Form 8959. Do not compute the underpayment penalty, if any. When the calculation for either Line 35a or Line 37 on Form 1040 is correct, the cell will change to yellow.
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