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Please fill out a 1040 form along with ALL necessary schedules (A,B,C,D,E) and all necessary forms (2106, 4562, etc) 58. John Benson, age 40, is
Please fill out a 1040 form along with ALL necessary schedules (A,B,C,D,E) and all necessary forms (2106, 4562, etc)
58. John Benson, age 40, is single. His Social Security number is 111-11-1111, and he resides at 150 Highway 51, Tangipahoa, LA 70465. John has a 5-year-old child, Kendra, who lives with her mother, Katy. John pays alimony of $6,000 per year to Katy and child support of $12,000. The $12,000 of child support covers 65% of Katy's costs of rearing Kendra. Kendra's Social Security number is 123-45-6789, and Katy's is 123-45-6788 John's mother, Sally, lived with him until her death in early September 2017. He incurred and paid medical expenses for her of $12,900 and other support payments of $11,000. Sally's only sources of income were $5,500 of interest income on certifi- cates of deposit and $5,600 of Social Security benefits, which she spent on her medi- cal expenses and on maintenance of John's household. Sally's Social Security number was 123-45-6787. John is employed by the Highway Department of the State of Louisiana in an ex ecutive position. His salary is $95,000. The appropriate amounts of Social Security tax and Medicare tax were withheld. In addition, $9,500 was withheld for Federal income taxes, and $4,000 was withheld for state income taxes In addition to his salary, John's employer provides him with the following fringe Group term life insurance with a maturity value of $95,000. The cost of the pre- Group health insurance plan. John's employer paid premiums of $5,800 for his Upon the death of his aunt Josie in December 2016, John, her only recognized heir, benefits: miums for the employer was $295. coverage. The plan paid $2,600 for John's medical expenses during the year inherited the following assets: Asset Car Land-300 acres IBM stock Cash Josie's Adiusted Basis $35,000 90,000 15,000 10,000 FMV at Date of Death S 19,000 175,000 40,000 10,000Step by Step Solution
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