Question
Marc and Mikkel are married and file a joint tax return. Marc and Mikkel earned salaries this year of $64,200 and $13,200, respectively. In addition
Marc and Mikkel are married and file a joint tax return. Marc and Mikkel earned salaries this year of $64,200 and $13,200, respectively. In addition to their salaries, they received interest of $354 from municipal bonds and $600 from corporate bonds. Marc contributed $2,600 to a traditional individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,600 (under a divorce decree effective June 1, 2006). Marc and Mikkel have a 10-year-old adopted son, Mason, who lived with them throughout the entire year. Thus, Marc and Mikkel are allowed to claim a $2,000 child tax credit for Mason. Marc and Mikkel paid $6,200 of expenditures that qualify as itemized deductions, and they had a total of $2,596 in federal income taxes withheld from their paychecks during the year. (Use the tax rate schedules.)
Complete Marc and Mikkel's Form 1040, pages 1 and 2, and Schedule 1 (use the most recent forms available).
Marc and Mikkel's address is 19010 N.W. 135th Street, Miami, FL 33054.
Social security numbers:
Marc Taxpayer: 111-22-3333
Mikkel Taxpayer: 222-33-4444
Mason Taxpayer: 333-44-5555 Prior Spouse: 111-11-1111
Form 1040
(2022)
Marc and Mikkel are married and file a joint tax return. Marc and Mikkel earned salaries this year of $64,200 and $13,200, respectively. In addition to their salaries, they received interest of $354 from municipal bonds and $600 from corporate bonds. Marc contributed $2,600 to a traditional individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,600 (under a divorce decree effective June 1, 2006). Marc and Mikkel have a 10-year-old adopted son, Mason, who lived with them throughout the entire year. Thus, Marc and Mikkel are allowed to claim a $2,000 child tax credit for Mason. Marc and Mikkel paid $6,200 of expenditures that qualify as itemized deductions, and they had a total of $2,596 in federal income taxes withheld from their paychecks during the year. (Use the tax rate schedules.) Complete Marc and Mikkel's Form 1040, pages 1 and 2, and Schedule 1 (use the most recent forms available). Marc and Mikkel's address is 19010 N.W. 135th Street, Miami, FL 33054. Social security numbers: Marc Taxpayer: 111-22-3333 Mason Taxpayer: 333-44-5555 Mikkel Taxpayer: 222-33-4444 Prior Spouse: 111-11-1111 (Input all the values as positive numbers. Enter any non-financial information, (e.g. Names, Addresses, social security numbers) EXACTLY as they appear in any given information or Problem Statement. Do not skip rows, while entering in Deductions section of Form 1040 PG1. Use 2023 tax laws and 2022 tax form.) Neither Marc nor Mikkel wish to contribute to the Presidential Election Campaign fund or had any virtual currency transactions or interests. Complete Marc and Mikkel's Form 1040, pages 1 and 2, and Schedule 1.
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