Please answer this to the best of your ability.

Ch. 4 In-Class Work: Additional Practice Individual Income Tax Return Required: - Use the following information to complete John and Latoya Henry's 2022 federal income tax return. If any information is missing, use reasonable assumptions to fill in the gaps. - Assume only Form 1040 is required (i.e., ignore references to other schedules and forms). Assume any credits are nonrefundable. Facts: 1. John Henry is employed as a human resources manager for Toys Unlimited, Inc., and Latoya Henry is a financial planner for Long-term Investments, Inc., a full-service wealth-planning firm. John and Latoya are legally married and have no reason to file separate returns. They live in a home that they have been renting for the last four years with their adopted son, Jacob Henry. Jacob is currently a full-time student at the local medical school. He receives $30,000 of tax-exempt scholarships from the med school each year, and uses all of it towards paying his tuition. Jacob also has $1,600 of income from interest and dividends in his Fidelity savings account. In addition to providing a home for him, John and Latoya pay for all of his other expenses, such as food and clothing ( $16,000 total support provided). [In the blank area under the front side of Form 1040, explain how you determined whether Jacob is John and Latoya's dependent (i.e., go through the tests) and how you determined John and Latoya's filing status.] 2. John and Latoya also provided the following information: - John and Latoya both want to contribute to the presidential election campaign. - They live at 9876 Old Waverly, Charleston, South Carolina 29401. - John's birthday is 7/17/1967 and his Social Security number is 555-12-6789. - Latoya's birthday is 9/11/1969 and her Social Security number is 987-65-4321. - Jacob's birthday is 1/12/1996 and his Social Security number is 654-33-2211. - They do not want anyone else to discuss their return with the IRS. - Neither of them received, sold, or otherwise disposed of any financial interest in a digital asset. - They would like to apply any overpayment of current year taxes to next year's tax payments. 3. John and Latoya each received a Form W-2 from their employer with the following information: 4. John and Latoya received $65 in interest from State of Oklahoma bonds, $195 interest from Apple Inc. bonds, and $15 interest from U.S. Treasury bonds. They also received a $260 qualified dividend from Huggies Company and a $470 dividend from Foreign Corporation, which is not qualified. [Hint: Qualified dividends are reported both in ordinary dividends and separately stated as qualified dividends. Ordinary dividends are only reported in ordinary dividends.] 5. John sold 200 shares of DM stock for $10 a share on June 15,2022 . He had purchased the stock on December 12, 2014, for $18 a share. He also sold 50 shares of RSA stock for $65 a share on October 2 , 2022. He had purchased the stock for $15 a share on February 2, 2022. [For purposes of this assignment, assume Schedule D is not required.] 6. Other than the state income tax withheld from their paychecks (total $6,400 ), John and Latoya had no other expenses that would qualify as itemized deductions for the current year. Ch. 4 In-Class Work: Additional Practice Individual Income Tax Return Required: - Use the following information to complete John and Latoya Henry's 2022 federal income tax return. If any information is missing, use reasonable assumptions to fill in the gaps. - Assume only Form 1040 is required (i.e., ignore references to other schedules and forms). Assume any credits are nonrefundable. Facts: 1. John Henry is employed as a human resources manager for Toys Unlimited, Inc., and Latoya Henry is a financial planner for Long-term Investments, Inc., a full-service wealth-planning firm. John and Latoya are legally married and have no reason to file separate returns. They live in a home that they have been renting for the last four years with their adopted son, Jacob Henry. Jacob is currently a full-time student at the local medical school. He receives $30,000 of tax-exempt scholarships from the med school each year, and uses all of it towards paying his tuition. Jacob also has $1,600 of income from interest and dividends in his Fidelity savings account. In addition to providing a home for him, John and Latoya pay for all of his other expenses, such as food and clothing ( $16,000 total support provided). [In the blank area under the front side of Form 1040, explain how you determined whether Jacob is John and Latoya's dependent (i.e., go through the tests) and how you determined John and Latoya's filing status.] 2. John and Latoya also provided the following information: - John and Latoya both want to contribute to the presidential election campaign. - They live at 9876 Old Waverly, Charleston, South Carolina 29401. - John's birthday is 7/17/1967 and his Social Security number is 555-12-6789. - Latoya's birthday is 9/11/1969 and her Social Security number is 987-65-4321. - Jacob's birthday is 1/12/1996 and his Social Security number is 654-33-2211. - They do not want anyone else to discuss their return with the IRS. - Neither of them received, sold, or otherwise disposed of any financial interest in a digital asset. - They would like to apply any overpayment of current year taxes to next year's tax payments. 3. John and Latoya each received a Form W-2 from their employer with the following information: 4. John and Latoya received $65 in interest from State of Oklahoma bonds, $195 interest from Apple Inc. bonds, and $15 interest from U.S. Treasury bonds. They also received a $260 qualified dividend from Huggies Company and a $470 dividend from Foreign Corporation, which is not qualified. [Hint: Qualified dividends are reported both in ordinary dividends and separately stated as qualified dividends. Ordinary dividends are only reported in ordinary dividends.] 5. John sold 200 shares of DM stock for $10 a share on June 15,2022 . He had purchased the stock on December 12, 2014, for $18 a share. He also sold 50 shares of RSA stock for $65 a share on October 2 , 2022. He had purchased the stock for $15 a share on February 2, 2022. [For purposes of this assignment, assume Schedule D is not required.] 6. Other than the state income tax withheld from their paychecks (total $6,400 ), John and Latoya had no other expenses that would qualify as itemized deductions for the current year