Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need this problem done on the 1040 please! Tax Return #1.doc Taxpayer Names: Clyde& Bonnie Barrow 666 Parker Lane Taos, NM 87571 Filing Status: Married

Need this problem done on the 1040 please! image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Tax Return #1.doc Taxpayer Names: Clyde& Bonnie Barrow 666 Parker Lane Taos, NM 87571 Filing Status: Married Filing Jointly Dependent: Wheel Barrow Clyde Barrow (age 46)-?-22-3333 Bonnie Barrow (age 43)-444-38-6666 Wheel Barrow (age 17)-153-46-8897 Income: Wages o Taxes Withheld Federal Income Tax $7,515 Social Security Tax $3,844 .Medicare Tax $899 State Tax $1,580 Local Tax $620 Clyde Wages-$35,000 o Taxes Withheld Federal Income Tax $4,800 Social Security Tax $3,410 .Medicare Tax S798 State Tax $1,375 Local Tax S550 Refund New Mexico State Tax Refund S125 (taken as an itemized deduction for taxes in 2016) Sales Tax on Purchase of Auto S1,800 Sales tax from IRS Tables $875 Real Estate Taxes-$6.300 State & Local Taxes (refer to taxes withheld on Wages) Medical Expenses: Prescription Drugs $510 Health Care Premiums $9,890 Non-Prescription Drugs (Cold & Flu Medicine, Eye-drops, Heating Pad) S135 4 Save More Tax Return #1.doc Taxpayer Names: Clyde& Bonnie Barrow 666 Parker Lane Taos, NM 87571 Filing Status: Married Filing Jointly Dependent: Wheel Barrow Clyde Barrow (age 46)-?-22-3333 Bonnie Barrow (age 43)-444-38-6666 Wheel Barrow (age 17)-153-46-8897 Income: Wages o Taxes Withheld Federal Income Tax $7,515 Social Security Tax $3,844 .Medicare Tax $899 State Tax $1,580 Local Tax $620 Clyde Wages-$35,000 o Taxes Withheld Federal Income Tax $4,800 Social Security Tax $3,410 .Medicare Tax S798 State Tax $1,375 Local Tax S550 Refund New Mexico State Tax Refund S125 (taken as an itemized deduction for taxes in 2016) Sales Tax on Purchase of Auto S1,800 Sales tax from IRS Tables $875 Real Estate Taxes-$6.300 State & Local Taxes (refer to taxes withheld on Wages) Medical Expenses: Prescription Drugs $510 Health Care Premiums $9,890 Non-Prescription Drugs (Cold & Flu Medicine, Eye-drops, Heating Pad) S135 4 Save More

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Forest Management Auditing

Authors: Lucio Brotto

1st Edition

0367605872, 978-0367605872

More Books

Students also viewed these Accounting questions