Question
Nathan Cohen , age 45, is a single taxpayer who lives at 2245 Mardel St., San Jose, CA 95130. His social security number is 351-42-1961.
Nathan Cohen , age 45, is a single taxpayer who lives at 2245 Mardel St., San Jose, CA 95130. His social security number is 351-42-1961. Nathans earnings and withholdings as a marketing director at a high-tech companNathan Cohen , age 45, is a single taxpayer who lives at 2245 Mardel St., San Jose, CA 95130. His social security number is 351-42-1961. Nathans earnings and withholdings as a marketing director at a high-tech company for 2015 are: Earnings from Placeware, Inc. $297,000 (this is after subtracting his health insurance premiums see below) Federal Income tax withheld $50,000 State income tax withheld $23,500 Other facts and possibly useful information: Nathan earns interest on a savings account at Bank of the West of $13,075. Nathan is divorced and pays his ex-wife $4,000 per month. When their 15-year old daughter (who lives 100% with the ex-wife) reaches 18, the payments drop to $2,800 per month. His ex-wifes social security number is 857-51-6438. Nathan does not claim his daughter as a dependent. Nathan paid the following amounts (he has records to prove payment): California DMV renewal taxes (the value based part) : $300 Credit card interest expense $1,760 Auto Loan interest expense $4,300 Property taxes on his home $6,200 Blue Cross health insurance premiums $1,800 withheld from his paycheck. Other medical expenses $790 Income tax preparation fees for his 2013 income tax return $900 Federal 2014 income taxes paid in April 2015 when he filed his 2015 federal income tax return $1,825 California 2014 income taxes paid in April 2015 when he filed his 2015 California tax return $500 Check to Boy Scouts of America $1,100 Check for fundraiser to build a new building at Harker School, where his daughter goes, $8,000. This payment was not related to tuition and neither Nathan nor his family received any specific benefits. Check to St. Andrews Church $10,000 Stanford Business School Alumni Association $12,000 (fundraiser to support the business school) Silicon Valley Republican Party Fund $1,000 (2015 campaign fundraiser) Nathan paid $100 to attend a fundraising dinner at the Tech Museum of Innovation, the value of the dinner is $50. Nathan received a Form 1098 Mortgage Interest Statement from Bank of the West indicating $19,700 of interest expense on his mortgage (a qualified acquisition mortgage) Complete Nathans Form 1040, Schedule A and Schedule B. Dont forget he paid state taxes. If you need to make assumptions, they should be realistic. Hint: remember that deductions and exemptions may be limited. You do not have to calculate additional taxes for Line 62, forms 8959 or 8960. Input $1,327 on line 62. Your check figure: Nathans Form 1040 Line 75 is $2,,477. Good Luck! My question is what would be considered his schedule A deductions in this question
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