Assume the taxpayer does NOT wish to contribute to the Presidential Election Fund, unless otherwise stated in the problem. Assume all taxpayers did NOT receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency during the year. During 2020, Jason and Vicki Hurting, who are married with two children and filing jointly, had the following tax information. Jason owns a cash-basis landscaping business, and Vicki works as a sales executive for a manufacturing business. Jason (SSN 412-34-5670) and Vicki (SSN 412-34-5671) reside at 128 Bate Street, Bright, AL 36116. Both children are under the age of 17: Jason Jr. (412-34-5672), date of birth 7/20/12 Catlin (412-34-5673), date of birth 1/08/16 Vicki's W-2 information is as follows: Wages Federal withholding Social security wages Social security withholding Medicare withholding State withholding Other income: 1099-G Alabama state tax refund is taxable because $4,700 was deducted on last year's return 1099-INT First Bank of Alabama. 1099-DIV IBM, Incorporated-Ordinary dividends Qualified dividends The following information is for Jason's landscaping business: $ 94,000 22,000 94,000 5,828 1,363 4,700 $ 423 225 125 125 Revenue Wages Payroll tax Cell phone charge Assets ( 179 elected) $ 153,000 41,600 3,182 425 Item Date Purchased Truck (100% business) 2/05/2020 Business Use Amount $ 28,000 Percentage 100% Mower 1 3/08/2020 12,000 100 Mower 2 Equipment 3/08/2020 3,400 100 6/25/2020 1,595 100 The truck was over 6,000 lb. The Hurtings had the following itemized deductions: State income tax withholding (from above) Real estate tax Personal property tax Mortgage interest Charitable contributions $ 4,700 2,100 425 8,300 2,400 The Hurtings made four federal estimated payments of $2,500 each on their due dates. Required: Prepare Form 1040 plus appropriate schedules for the Hurtings for 2020. Use the appropriate Tax Rate Schedules. (List the names of the taxpayers in the order in which they appear in the problem. Enter the required information in the Dependents section in a chronological order of "Dependent's social security number". Input all the values as positive numbers. Use Rounded values for tax computation. Do not round other intermediate computations. Round your final answers to nearest whole dollar. Do not skip rows, while entering Dependents section in Form 1040 PG1.) 1040 for a couple Married Filing Jointly with two dependents. 1040 PG 1 1040 PG 2 Schedule 1 Schedule 2 Schedule C Schedule C Schedule SE Form 4562 Form 8995 PG 2 PG 1 Page 1 of Form 1040. Use provided information and follow instructions on form. IRS Use Only-Do not write or staple in this space. Form 1040 Department of the Treasury-Intemal Revenue Service (99) U.S. Individual Income Tax Return 2020 OMB No. 1545-0074 Filing Status Single Married filing jointly Married filing separately (MFS) Head of household (HOH) Check only one box. If you checked the MFS box, enter the name of your spouse. a child but not your dependent. Your first name and middle initial If joint return, spouse's first name and middle initial Qualifying widow(er) (QW) Y you checked the HOH or QW box, enter the child's name if the qualifying person is Last name Last name Your social security number (Enter as xxx-xx-xxxx) Spouse's social security number (Enter as xxx-xx-xxxx) Home address (number and street). If you have a P.O. box, see instructions. City, town, or post office. If you have a foreign address, also complete spaces below. Foreign country name Foreign province/state/county Apt. no. Foreign postal code Presidential Election Campaign Check here if you, or your spouse if filing jointly, want $3 to go to this fund. Checking a box below will not change your tax or refund. You Spouse At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest any virtual currency? Standard Deduction Age/Blindness Dependents Someone can claim: You as a dependent Spouse itemizes on a separate return or you were a dual-status alien You: (see instructions): If more than four dependents, see instructions and check here (1) First name Your spouse as a dependent Yes No Is blind Were born before January 2, 1956 Are blind Spouse: Was born before January 2, 1956 (2) Social security number (3) Relationship to you (4) if qualifies for (see instructions): Last name (Enter as xxx-xx-xxxx) Child tax credit Credit for other dependents 1 Wages, salaries, tips, etc. Attach Form(s) W-2 1 Attach Sch. B if required. 2a Tax-exempt interest 2a b Taxable interest 2b 3a Qualified dividends 3a b Ordinary dividends 3b 4a IRA distributions 4a b Taxable amount 4b 5a Pensions and annuities 5a b Taxable amount 5b 6a Social security benefits 6a b Taxable amount 6b 7 7 Capital gain or (loss). Attach Schedule D if required. If not required, check here 8 8 Other income from Schedule 1, line 9 9 Add lines 1, 2b. 3b, 4b, 5b, 6b, 7, and 8. This is your total income 10 Adjustments to income: Standard 10a Deduction for- a From Schedule 1, line 22. 10b b Charitable contributions if you take the standard deduction. See instructions - Single or Married filing separately. $12,400 Married filing jointly or Qualifying widow(er). $24.800 Head of household, $18,650 c Add lines 10a and 10b. These are your total adjustments to Income 11 Subtract line 10c from line 9. This is your adjusted gross income 12 Standard deduction or itemized deductions (from Schedule A) If you checked any 13 Qualified business income deduction. Attach Form 8995 or Form 8995-A box under Standard Deduction, see Instructions. 14 Add lines 12 and 13 15 Taxable income. Subtract line 14 from line 11. If zero or less, enter -0- < 10c 0 > 11 0 12 13 14 0 15 Form 1040 (2020) For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Cat. No. 113208 THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. 2021 McGraw-Hill Education. < 1040 PG 1 1040 PG 2 > 0 1040 for a couple Married Filing Jointly with two dependents. 1040 PG 1 1040 PG 2 Schedule 1 Schedule 2 Schedule C PG 1 Schedule C PG 2 Schedule SE Form 4562 Form 8995 Page 2 of Form 1040. Some information does not carry over from Page 1. Form 1040 (2020) If you have a qualifying child, attach Sch. EIC. - If you have nontaxable combat pay, see instructions. 16 Tax (see instructions). Check if any from Form(s): 17 Amount from Schedule 2, line 3 18 Add lines 16 and 17 19 Child tax credit or credit for other dependents 20 Amount from Schedule 3, line 7. 21 Add lines 19 and 20 22 Subtract line 21 from line 18. If zero or less, enter -0- 23 Other taxes, including self-employment tax, from Schedule 2, line 10 24 Add lines 22 and 23. This your total tax 25 Federal income tax withheld from: a Form(s) W-2 b Form(s) 1099 c Other forms (see instructions) d Add lines 25a through 25c 26 2020 estimated tax payments and amount applied from 2019 return 27 Earned income credit (EIC) 28 Additional child tax credit. Attach Schedule 8812 29 American opportunity credit from Form 8863, line 8 30 Recovery rebate credit. See instructions 31 Amount from Schedule 3, line 13. (1) 8814 (2) 4972 (3) 32 Add lines 27 through 31. These are your total other payments and refundable credits Refund Direct deposit? See instructions. 33 Add lines 25d, 26, and 32. These are your total payments 34 If line 33 is more than line 24, subtract line 24 from line 33. This is the amount you overpaid 35a Amount of line 34 you want refunded to you. If Form 8888 is attached, check here b Routing number c Type: d Account number Amount You Owe 36 Amount of line 34 you want applied to your 2021 estimated tax 37 Subtract line 33 from line 24. This is the amount you owe now Checking Note: Schedule H and Schedule SE filers, line 37 may not represent all of the taxes you owe for 2020. See Schedule 3, line 12e, and its instructions for details. For details on how to pay, see instructions. 38 Estimated tax penalty (see instructions) Third Party Designee Do you want to allow another person to discuss this return with the IRS? See instructions A 25a 25b 25c < 16 17 18 19 20 21 22 23 24 25d 26 27 28 29 30 31 32 A 33 34 35a Savings 36 37 38 00 Yes. Complete below. No Sign Here Joint return? See instructions. Keep a copy for your records. Designee's name Phone no. Personal identification number (PIN) 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, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Your signature Spouse's signature. If a joint retum, both must sign. Phone no. Preparer's name Date Date Your occupation Spouse's occupation Email address Preparer's signature. Date PTIN If the IRS sent you an Identity Protection PIN, enter it here. (see Inst.) If the IRS sent your spouse an Identity Protection PIN, enter it here (see inst.) Check it Self-employed Paid Preparer Use Only Firm's name Firm's address Phone no. Firm's EIN THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. 2021 McGraw-Hill Education. Form 1040 < 1040 PG 1 Schedule 1 >