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please help me with 2018 tax return.. Mr. Lovejoy's salary from Smart Tech, $32,000 [federal tax withholding $3,000, social security withholding $1,984, Medicare withholding $464]
please help me with 2018 tax return..
Mr. Lovejoy's salary from Smart Tech, $32,000 [federal tax withholding $3,000, social security withholding $1,984, Medicare withholding $464] Mr. Lovejoy's salary from Computer Associates, $142,000 [federal tax withholding $24,000, social security withholding $7,961, Medicare withholding $2,059] Mrs. Lovejoy's salary from Smith and Weber, $15,550 [federal tax withholding $1,000, social security withholding $964, Medicare withholding $252] Interest from First Bank savings account, $700 Itemized deductions, $9,000 [don't enter anywhere; they will use the standard deduction] Dividends from AB Inc. eligible for 15% rate, $2,200 Additional information: Wages are reported to employees on Form W-2. Social security and Medicare wages are the same as for federal income tax for Smart Tech and Smith and Weber. For Computer Associates, Medicare wages are the same as for federal income tax, but social security wages are $128,400. Interest income and dividend income are reported on Form 1040 Schedule B. You will enter the dividend amount twice: once for Box la and again for Box 1b. Assumptions: Married filing joint filing status. They are covered by health insurance all year. They have no foreign bank accounts or trusts. Information to make up on your own: First names, social security numbers, occupations, address, birthdates, employer zip codes Mr. Lovejoy's salary from Smart Tech, $32,000 [federal tax withholding $3,000, social security withholding $1,984, Medicare withholding $464] Mr. Lovejoy's salary from Computer Associates, $142,000 [federal tax withholding $24,000, social security withholding $7,961, Medicare withholding $2,059] Mrs. Lovejoy's salary from Smith and Weber, $15,550 [federal tax withholding $1,000, social security withholding $964, Medicare withholding $252] Interest from First Bank savings account, $700 Itemized deductions, $9,000 [don't enter anywhere; they will use the standard deduction] Dividends from AB Inc. eligible for 15% rate, $2,200 Additional information: Wages are reported to employees on Form W-2. Social security and Medicare wages are the same as for federal income tax for Smart Tech and Smith and Weber. For Computer Associates, Medicare wages are the same as for federal income tax, but social security wages are $128,400. Interest income and dividend income are reported on Form 1040 Schedule B. You will enter the dividend amount twice: once for Box la and again for Box 1b. Assumptions: Married filing joint filing status. They are covered by health insurance all year. They have no foreign bank accounts or trusts. Information to make up on your own: First names, social security numbers, occupations, address, birthdates, employer zip codesStep by Step Solution
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