Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help Sandy and John Ferguson got married eight years ago and have a seven-year-old daughter, Samantha. In 2022 , Sandy worked as a computer

please help
image text in transcribed
Sandy and John Ferguson got married eight years ago and have a seven-year-old daughter, Samantha. In 2022 , Sandy worked as a computer technician at a local university eaming a salary of \$152,600, and John worked part time as a receptionist for a law firm earning a salary of $29,600. Sandy also does some Web design work on the side and reported revenues of $4,600 and associated expenses of $1,050. The Fergusons received $920 in qualified dividends and a $230 refund of their state income taxes. The Fergusons always itemize their deductions, and their itemized deductions were Well over the standard deduction amount last year, Use Exhibit 8-10. Tax. Rate Schedule. Dividends and Capital Gains Tax Rates, 2022 AMT exemption for reference. The Fergusons reported making the following payments during the year: - State income taxes of $4,550. Federal tax withholding of $21,000. - Alimony payments to Sandy's former spouse of $10,300 (divorced 12/31/2014) - Child support payments for Sandy's child with her former spouse of $4,160 - \$12,260 of real property taxes. - John was reimbursed $630 for employee business expenses The incurred He was required to provide documentation for her expenses to her employer - \$3,600 to Kid Care day care center for Samantha's care while Sandy and John worked. - $14,600 interest on their home mortgage (\$400,000 acquisition debt) - \$3,090 interent on a \$41,200 home-equity loan. They used the loan to pay for a family vacation and new car. - $15,300 cash charitable contributions to qualified charities. - Donation of used furniture to Goodwil The fumiture had a fair market value of $460 and cost $2,300. Complete pages 1 and 2. Schedule 1, Schedule 2. and Schedule 3 of Form 1040 and Form 6251 for John and Sandy. Sandy and Jotn Ferguson's addiess is 19010 NW. 135th Street. MiomL, F. 33054 Social security numbers Santy (DOQ 1107n970) 11.11.t111 John (bOL 624972): 222222222 5amanthe (008 9n0/2016) 3a333-333 Alimemy reciatient 555555.5555 Sandy and John Ferguson got married eight years ago and have a seven-year-old daughter, Samantha. In 2022 , Sandy worked as a computer technician at a local university eaming a salary of \$152,600, and John worked part time as a receptionist for a law firm earning a salary of $29,600. Sandy also does some Web design work on the side and reported revenues of $4,600 and associated expenses of $1,050. The Fergusons received $920 in qualified dividends and a $230 refund of their state income taxes. The Fergusons always itemize their deductions, and their itemized deductions were Well over the standard deduction amount last year, Use Exhibit 8-10. Tax. Rate Schedule. Dividends and Capital Gains Tax Rates, 2022 AMT exemption for reference. The Fergusons reported making the following payments during the year: - State income taxes of $4,550. Federal tax withholding of $21,000. - Alimony payments to Sandy's former spouse of $10,300 (divorced 12/31/2014) - Child support payments for Sandy's child with her former spouse of $4,160 - \$12,260 of real property taxes. - John was reimbursed $630 for employee business expenses The incurred He was required to provide documentation for her expenses to her employer - \$3,600 to Kid Care day care center for Samantha's care while Sandy and John worked. - $14,600 interest on their home mortgage (\$400,000 acquisition debt) - \$3,090 interent on a \$41,200 home-equity loan. They used the loan to pay for a family vacation and new car. - $15,300 cash charitable contributions to qualified charities. - Donation of used furniture to Goodwil The fumiture had a fair market value of $460 and cost $2,300. Complete pages 1 and 2. Schedule 1, Schedule 2. and Schedule 3 of Form 1040 and Form 6251 for John and Sandy. Sandy and Jotn Ferguson's addiess is 19010 NW. 135th Street. MiomL, F. 33054 Social security numbers Santy (DOQ 1107n970) 11.11.t111 John (bOL 624972): 222222222 5amanthe (008 9n0/2016) 3a333-333 Alimemy reciatient 555555.5555

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

Solve the following 1,4 3 2TT 5x- 1+ (15 x) dx 5X

Answered: 1 week ago

Question

5. Understand how cultural values influence conflict behavior.

Answered: 1 week ago

Question

e. What do you know about your ethnic background?

Answered: 1 week ago