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Need help filling out - Form 1040, Sch. A, and Sch. 1 clothing, medical expenses, and other items for Hannah. They do not know what
Need help filling out - Form 1040, Sch. A, and Sch. 1
clothing, medical expenses, and other items for Hannah. They do not know what the rental value of Hannah's suite would be, but they estimate it would be at least $300 per month. Interest paid during the year included the following: Home mortgage interest (paid to Carmel Federal Savings and Loan) $7390 Interest on an automobile loan (paid to Carmel National Bank) Interest on Citibank Visa card 620 In July, Paul hit a submerged rock while boating. Fortunately, he was uninjured after being thrown from the boat and landing in deep "vater. However, the boat, which was uninsured, was destroyed. Paul had paid for the boat in June 2018, and its value '.vas appraised at $18,000 on the date of the accident. The Deckers paid doctor and hospital bills of $12,700 and were reimbursed $2,000 by their insurance company. They spent $640 for prescription drugs and medicines and $5,904 for premiums on their health insurance policy. They have filed additional claims of $1,200 with their insurance company and have been told they will receive payment for that amount in January 2020. Included in the amounts paid for doctor and hospital bills were payments of $380 for Hannah and $850 for the children. Additional information of potential tax consequence follows: Real estate taxes paid Sales taxes paid (per table) Contributions to their church Appraised value of books donated to public library Refund of state income tax for 2018 (the Deckers itemized on their 2018 Federal tax return, and their total state and local taxes were less than SIODOO) $6350 1379 4600 740 1>20 Compute net tax payable or refund due for the Deckers for 2019. Ignore the child tax credit in your computations. If the Deckers have overpaid, the amount is to be credited toward their taxes for 2020.
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