need help 2022 tax rule
[The following information applies to the questions displayed below] Reba Dixon is a fifth-grade school teacher who earned a salary of $38.000 in 2022 . She is 45 years old and has been divorced for four years. She recelves $1,200 of alimony payments each month from her former husband (divorced in 2016). Reba also rents out a small apartment building. This year Reba received $50.000 of rental payments from tenants and she incurred $19.500 of expenses associated with the rental. Reba and her daughter Heather (20 years old at the end of the year) moved to Georgia in January of this year Reba provides more than one-half of Heather's support. They had been living in Colorado for the past 15 years; but ever since her divorce. Reba has been wanting to move back to Georgia to be closer to her family. Luckily, last December. a reaching position opened up and Reba and Heather decided to make the move. Reba paid a moving company $2.010 to move their personal belongings, and she and Heather spent two days driving the 1,426 miles to Georgla. Reba rented a home in Georgia. Heather decided to continue living at home with her mom, but she started attending school full-time in January and throughout the rest of the year at a nearby univers ity. She was awarded a $3.000 partial tuition scholarship this year, and Reba helped out by paying the remaining $500 tuition cost If poss ible. Reba thought it: would be best to claim the education credit for these expenses. Reba wasn't sure if she would have enough items to help her beneft from itemizing on her tax return. However. she kept track of several expenses this year that she thought might qualify if she was able to itemize Reba paid $5.800 in state income taxes and $12.500 in charitable contributions during the year. She aiso paid the following medical-related expenses for herself and Heather: Shortly after the move, Reba got distracted while driving and ran into a street sign. The accident caused $900 in damage: to the car and gave her whiplash. Because the repairs were less than her insurance deductble, she paid the entire cost of the repairs. Reba wasnt able to work for two months after the accident Fortunately, she received $2,000 trom her disability insurance. Her employer, the Central Georgia School District, paid 60 percent of the prem ums on the policy as a nontaxable fringe benefit and Reba paid the remaining 40 percent portion. A few years ago, Reba acquired several investments with her portion of the divorce sertlement. This year she reported the following income from her investments: $2,200 of interest income from corporate bonds and $1,500 interest income from City of Denver municipal bonds. Overall, Reba's stock portfoio appreciated by $12,000, but she did not sell any of her stocks. Heather reported $6,200 of interest income from corporate bonds she recelved as ifts from her father over the last several years. This was Heather's only source of income for the year: Reba had $10.000 of federal income taxes withheld by her employer. Heathel made $1.000 of estimated tax payments during the year. Reba did not make any estimated payments. Comprehenslve Problem 8-84 Part a-2 (Static) Using the information from part a-1. Complete pages 1 and 2 , Schedule 1 , and Schedule 3 or form 1040 for Reba. Reba Dixon's address is 19010 NW. 135 th Street, Lawrencevile, GA 30043. Social security numbers: Using the information from part a-1, Complete pages 1 and 2. Schedule 1, and Schedule 3 of Form 1040 for Reba. Reba Dixon's address is 19010 N.W. 135th Street, Lawrenceville, GA 30043. Social security numbers: Reba Dixon: 111-11-1111 Heather Dixon: 222-22-22222 (Assume all taxpayers did NOT recelve, sell, send, exchange, or otherwlse acquire any financlal Interest in any virtual currency during the yeor. Input all the values as positive numbers. Use 2022 tax rules regardless of year on tax form. Round your Intermedlate computations and final answers to the nearest whole dollar amount.) 1040 for a Head of household with one dependent. Form 1040 Page 1
