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need a 1040 and all the schedules required. With Emphasis on Schedule A James and Esther Johnson live at 45678 S. W. 112th Strect, Homestead,
need a 1040 and all the schedules required.
With Emphasis on Schedule A James and Esther Johnson live at 45678 S. W. 112th Strect, Homestead, FL. 33033. James, who is 67 years old (date of birth 12/14/1954), is retired and receiving social security benefits, and Esther, who is 66 years old (date of birth 6/11/1955 ), is also retired but working on a parttime basis. Their social security numbers are 412-34-5670 and 412-34-5671. respectively. The Johnsons had qualifying health care coverage at all times during the tax year. Annual social security income for Jim is $22,000 (SSA-1099, box 5) and for Esther is $13,800 (SSA-1099, box 5). Interest received by them from Central Bank is $2,545 (1099-1NT, box 1). No income tax withholding was made. Esther is an employee working part-time as an interior decorator for Decorating House, a corporation. Her Form W-2 shows the following information: WagesFoderalW/HSocialsecuritywagesSocialsecurityW/HMedicarewagesMedicareWMH=$25,000.00=$2,00000=$25,000.00=$1,590.00=$25,000.00=$362.50 Their itemized deductions are as follows: 1. Mortgage interest on their main home, $11.950. 2. Real estate taxes, $7,900. 3. Personal property taxes, $185. 4. Doctors' expenses unreimbursed by insurance, $6,700. 5. Medical insurance premiums for the year, $2.900 6. Prescribed medicine, $1,995. 7. Vitamins, $300. 8. Total cash contributions to their church, $675. The contributions were made over the course of the year, and no individual contribution was greater than $250. 9. Tax preparation fees for their 2020 retura, $325, paid in 2021 . 10. Lottery tickets bought by Exher during the year, 5750 . Winnings received, 5940 (W-2G, box 1). Income tax withholding on winningx. $35(W2G,box4) Because the Johnsons live in Florida, where there is no state income tax. they will deduct the estimation of the general sales tax related to the area in which they live. The most efficient way to do this is by using the Sales Tax Calculator on the IRS website at (2) http://apps.irs.gor/app/stde/. A key point to remember in using the calculator is that "income" for this calculation also includes the nontaxable portion of social security benefits. For more information on using the IRS Sales Tax Calculator, refer to page 5 -12 in the text. Required Prepare their individual income tax return using the appropriate forms and schedules. They do not want to contribute to the presidential election campaign and do not want anyone to be a third-party designee. For any missing information, make reasonable assumptions. They had qualifying health coverage at all times during the year Step by Step Solution
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