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Please prepare a 2017 1040 and schedule A Alfred E. Old and Beulah A. Crane, each age 42, married on September 7, 2016. Alfred and

Please prepare a 2017 1040 and schedule A image text in transcribed
Alfred E. Old and Beulah A. Crane, each age 42, married on September 7, 2016. Alfred and Beulah will file a joint return for 2018. Alfred's Social Security number is 1-11-1112. Beulah's Social Security number is 123-45-6789, and she adopted "Old" as her married name. They live at 211 Brickstone Drive, Atlanta, GA 30304. Alfred was divorced from Sarah Old in March 2016. Under the divorce agreement, Alfred is to pay Sarah $1,250 per month for the next 10 years or until Sarah's death, whichever occurs first. Alfred pays Sarah $15,000 in 2018. In addition, in January 2018, Alfred pays Sarah $50,000, which is designated as being for her share of the marital property. Also, Alfred is responsible for all prior years' income taxes. Sarah's Social Security number is 123-45-6788. Alfred's salary for 2018 is $150,000, and his employer, Cherry, Inc. (Federal D. No. 98-7654321), provides him with group term life insurance equal to twice his annual salary. His employer withheld S24,900 for Federal income taxes and $8,000 for state income taxes. The proper amounts were withheld for FICA Beulah recently graduated from law school and is employed by Legal Aid Society, Inc. (Federal ID. No. 1-), as a public defender. She receives a salary of $42,000 in 2018. Her employer withheld S7,500 for Federal income taxes and S2,400 for state income taxes. The proper amounts were withheld for FICA taxes. Alfred and Beulah had interest income of $500. They receive a S1,900 refund on their 2017 state income taxes. They itemized deductions on their 2017 Federal income tax return (total of S15,000). Alfred and Beulah pay S4,500 interest and S1,450 property taxes on their personal residence in 2018. Their charitable contributions total $2,400 (all to their church). They paid sales taxes of S1,400, for which they maintain the receipts. Both spouses had health insurance for all months of 2018 and do not want to contribute to the Presidential Election Campaign. Compute the Olds' net tax payable (or refund due) for 2017. If you use tax forms for your solution, you will need Form

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