Please answer this question.
Hi, its Shady Slim again. I just got back from my 55th birthday party, and Im told that you need some more information from me in order to complete my tax return. Im an open book! Ill tell you whatever I think you need to know.
I had to move this year after getting my job at Roca Cola. I moved on February 3 of this year, and I worked my job at Roca Cola for the rest of the year. I still live in the same state, but I moved 500 miles away from my old house. I hired a moving company to move my stuff at a cost of $2,300, and I drove in my car. I got a hotel room along the way that cost $65 (I love Super 8!).
Can you believe Im still paying off my student loans, even after 15 years? I paid a total of $900 in interest on my old student loans this year.
Since Roca Coca (my employer) never started a retirement plan, I decided I should probably start saving for my golden years. I contributed $3,000 to what the bank referred to as a regular IRA (or was it an REM?). Oh yeah. I also did a little investing this year. I bought a limited partnership interest in Duds Ltd. for $10,000. I thought it was going to be a real winner, but this year they took a bath. My portion of the loss was $8,000. Well, at least I did not actually do any work for Duds, and I get the tax deductionright?
That should be all the information you need right now.
Read the following letter and help Shady Slim with his tax situation. Assume that his gross income is $172,900 (which consists only of salary) for purposes of this problem. December 31, 2019 To the friendly student tax preparer: Hi, it's Shady Slim again. I just got back from my 55th birthday party, and I'm told that you need some more information from me in order to complete my tax return. I'm an open book! I'll tell you whatever I think you need to know. I had to move this year after getting my job at Roca Cola. I moved on February 3 of this year, and I worked my job at Roca Cola for the rest of the year. I still live in the same state, but I moved 500 miles away from my old house. I hired a moving company to move my stuff at a cost of $2,300, and I drove in my car. I got a hotel room along the way that cost $65 (I love Super 8!). Can you believe I'm still paying off my student loans, even after 15 years? I paid a total of $900 in interest on my old student loans this year. Since Roca Coca (my employer) never started a retirement plan, I decided I should probably start saving for my golden years. I contributed $3,000 to what the bank referred to as a regular IRA (or was it an REM?). Oh yeah. I also did a little investing this year. I bought a limited partnership interest in Duds Ltd. for $10,000. I thought it was going to be a real winner, but this year they took a bath. My portion of the loss was $8,000. Well, at least I did not actually do any work for Duds, and I get the tax deduction-right? That should be all the information you need right now. OMB NO. 1545-0074 IRS Use Only-Do not write in this space. U.S. Individual income Tax Return Married filing jointly 2018 Married filing separately Filing status: Single Head of household Your first name and initial Last name Qualifying widow(er) Your social security number (Enter as XXX-XX-XXXX) 123-45-6789 Shady Your standard deduction: Someone can claim you as a dependent You were born before January 2, 1954 You are blind If joint return, spouse's first name and initial Last name Spouse's social security number (Enter as XXX-XX-XXXX) Full-year health care coverage or exempt (see instructions) N Spouse standard deduction: Someone can claim your spouse as a dependent Spouse is blind Home address (number and street). If you have a P.O. box, see instructions. 19010 N.W. 135th Street Spouse was born before January 2, 1954 Spouse itemizes on a separate return or you were dual-status alien Apt.no Presidential Election Campaign (see inst.) You 0 Spouse If more than four dependents, see inst. and here City, town or post office, state, and ZIP code. If you have a foreign address, attach Schedule 6. Miami, FL 33054 Dependents (see instructions): (4) if child under age 17 qualifies for (see inst.): (2) Social security number (3) Relationship to you (1) First name Last name Child tax credit Credit for other dependents Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, Sign Here correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Your signature Date Your occupation Read the following letter and help Shady Slim with his tax situation. Assume that his gross income is $172,900 (which consists only of salary) for purposes of this problem. December 31, 2019 To the friendly student tax preparer: Hi, it's Shady Slim again. I just got back from my 55th birthday party, and I'm told that you need some more information from me in order to complete my tax return. I'm an open book! I'll tell you whatever I think you need to know. I had to move this year after getting my job at Roca Cola. I moved on February 3 of this year, and I worked my job at Roca Cola for the rest of the year. I still live in the same state, but I moved 500 miles away from my old house. I hired a moving company to move my stuff at a cost of $2,300, and I drove in my car. I got a hotel room along the way that cost $65 (I love Super 8!). Can you believe I'm still paying off my student loans, even after 15 years? I paid a total of $900 in interest on my old student loans this year. Since Roca Coca (my employer) never started a retirement plan, I decided I should probably start saving for my golden years. I contributed $3,000 to what the bank referred to as a regular IRA (or was it an REM?). Oh yeah. I also did a little investing this year. I bought a limited partnership interest in Duds Ltd. for $10,000. I thought it was going to be a real winner, but this year they took a bath. My portion of the loss was $8,000. Well, at least I did not actually do any work for Duds, and I get the tax deduction-right? That should be all the information you need right now. OMB NO. 1545-0074 IRS Use Only-Do not write in this space. U.S. Individual income Tax Return Married filing jointly 2018 Married filing separately Filing status: Single Head of household Your first name and initial Last name Qualifying widow(er) Your social security number (Enter as XXX-XX-XXXX) 123-45-6789 Shady Your standard deduction: Someone can claim you as a dependent You were born before January 2, 1954 You are blind If joint return, spouse's first name and initial Last name Spouse's social security number (Enter as XXX-XX-XXXX) Full-year health care coverage or exempt (see instructions) N Spouse standard deduction: Someone can claim your spouse as a dependent Spouse is blind Home address (number and street). If you have a P.O. box, see instructions. 19010 N.W. 135th Street Spouse was born before January 2, 1954 Spouse itemizes on a separate return or you were dual-status alien Apt.no Presidential Election Campaign (see inst.) You 0 Spouse If more than four dependents, see inst. and here City, town or post office, state, and ZIP code. If you have a foreign address, attach Schedule 6. Miami, FL 33054 Dependents (see instructions): (4) if child under age 17 qualifies for (see inst.): (2) Social security number (3) Relationship to you (1) First name Last name Child tax credit Credit for other dependents Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, Sign Here correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Your signature Date Your occupation
