Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from corporate bonds. Marc contributed $2,500 to an individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,500 (under a divorce decree effective June 1, 2005). Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc and Michelle are allowed to claim a $2,000 child tax credit for Matthew. Marc and Michelle paid $6,000 of expenditures that qualify as itemized deductions and they had a total of $3,500 in federal income taxes withheld from their paychecks during the year. (Use the tax rate schedules.)

Download the 1040 Tax Form and enter the required values in the appropriate fields. Complete pages 1 and 2 of Form 1040 for Marc and Michelle. (use the most recent form available).

Department of the Treasury-Internal Revenue Service 1040 U.S. Individual Income Tax Return 2020 OMB No. 1545-0074 IRS Use Only-Do not write or staple in this space Filing Status Single Married filing jointly Married filing separately (MFS) Head of household (HOH) Qualifying widow(er) (QW) Check only If you checked the MFS box, enter the name of your spouse. If you checked the HOH or QW box, enter the child's name if the qualifying one box. person is a child but not your dependent Your first name and middle initial Your social security number Last name If joint return, spouse's first name and middle initial Last name Spouse's social security number Home address (number and street). If you have a P.O. box, see instructions. City, town, or post office. If you have a foreign address, also complete spaces below. State Apt. no. Presidential Election Campaign Check here if you, or your ZIP code spouse filing jointly, want $3 to go to this fund. Checking a box below will not change Foreign postal code your tax or refund. You Spouse Foreign country name Foreign province/state/county At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency? Yes No Standard Someone can claim: You as a dependent Your spouse as a dependent Deduction Spouse itemizes on a separate return or you were a dual-status alien Age/Blindness You: Were born before January 2, 1956 Are blind Spouse: Was born before January 2, 1956 Is blind Dependents (see instructions): (2) Social security (3) Relationship (4) Vif qualifies for (see instructions): (1) First name number Last name to you If more Child tax credit Credit for other dependents than four dependents, see instructions and check here 1 Wages, salaries, tips, etc. Attach Form(s) W-2 1 Attach 2a Tax-exempt interest 2a Taxable interest 2b Sch. Bit 3a Qualified dividends b Ordinary dividends 3b required. 4a IRA distributions. 4a b Taxable amount 4b 5a Pensions and annuities. 5a b Taxable amount 5b Standard 6a Social security benefits b Taxable amount. 6b Deduction for 7 Capital gain or loss). Attach Schedule D if required. If not required, check here 7 Single or Married filing 8 Other income from Schedule 1, line 9. 8 separately, 9 9 $12,400 Add lines 1, 2, 3, 4, 5b, 6b, 7, and 8. This is your total income Married filing 10 Adjustments to income: jointly or Qualifying a From Schedule 1, line 22 10a widow(er), b $24,800 10b Charitable contributions if you take the standard deduction. See instructions Head of Add lines 10a and 10b. These are your total adjustments to income 10c household, 11 Subtract line 10c from line 9. This is your adjusted gross income 11 $18,650 If you checked 12 Standard deduction or itemized deductions (from Schedule A) 12 any box under 13 Standard Qualified business income deduction. Attach Form 8995 or Form 8995-A 13 Deduction, 14 Add lines 12 and 13 14 see instructions. 15 Taxable income. Subtract line 14 from line 11. If zero or less, enter-O- 15 For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Cat. No. 11320B Form 1040 (2020) Form 1040 (2020) Page 2 16 Tax (see instructions). Check if any from Form(s): 1 8814 24972 3 16 17 Amount from Schedule 2, line 3 17 18 Add lines 16 and 17 18 19 Child tax credit or credit for other dependents 19 20 Amount from Schedule 3, line 7 20 21 Add lines 19 and 20 21 22 Subtract line 21 from line 18. If zero or less, enter -- 22 23 Other taxes, including self-employment tax, from Schedule 2, line 10 23 24 Add lines 22 and 23. This is your total tax 24 25 Federal income tax withheld from: a Form(s) W-2 25a b Form(s) 1099 25b Other forms (see instructions) 25c d Add lines 25a through 250 25d 26 If you have a 2020 estimated tax payments and amount applied from 2019 return 26 qualifying child, 27 Earned income credit (EIC). 27 attach Sch. EIC . If you have 28 Additional child tax credit. Attach Schedule 8812 28 nontaxable 29 American opportunity credit from Form 8863, line 8 29 combat pay. see instructions.) 30 Recovery rebate credit. See instructions 30 31 Amount from Schedule 3, line 13 31 32 Add lines 27 through 31. These are your total other payments and refundable credits 32 33 Add lines 25d, 26, and 32. These are your total payments 33 34 Refund 34 If line 33 is more than line 24, subtract line 24 from line 33. This is the amount you overpaid 35a Amount of line 34 you want refunded to you. If Form 8888 is attached, check here 35a Direct deposit? Routing number c Type: Checking Savings See instructions. d Account number 36 Amount of line 34 you want applied to your 2021 estimated tax 36 Amount 37 Subtract line 33 from line 24. This is the amount you owe now 37 You Owe Note: Schedule H and Schedule SE filers, line 37 may not represent all of the taxes you owe for For details on 2020. See Schedule 3, line 12e, and its instructions for details. how to pay, see instructions. 38 Estimated tax penalty (see instructions) 38 Third Party Do you want to allow another person to discuss this return with the IRS? See Designee instructions Yes. Complete below. No Designee's Phone Personal identification name no. number (PIN) Sign Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Here Date Your occupation If the IRS sent you an Identity Protection PIN, enter it here Joint return? (see inst.) See instructions Spouse's signature. If a joint return, both must sign. Date Spouse's occupation If the IRS sent your spouse an Keep a copy for Identity Protection PIN, enter it here your records. (see inst.) Phone no. Email address Preparer's name Preparer's signature Date PTIN Check it: Paid Self-employed Preparer Firm's name Phone no. Use Only Firm's address Firm's EIN Go to www.irs.gov/Form 1040 for instructions and the latest information. Form 1040 (2020) no Type: Co Your signature