Question
Please show using required tax forms 1040 PG 1 1040 PG 2 Schedule 1 Schedule 2 Schedule C Schedule SE Form 4562 Form 8995 Schedule
Please show using required tax forms 1040 PG 1
- 1040 PG 2
- Schedule 1
- Schedule 2
- Schedule C
- Schedule SE
- Form 4562
- Form 8995
- Schedule 8812
- Schedule 8812 Worksheet A
- Assume the taxpayer does NOT wish to contribute to the Presidential Election Fund, unless otherwise stated in the problem. In addition, the taxpayers did NOT receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency during the year. During 2022, Jason and Vicki Hurting, who are married with two children, had the following tax information. Jason owns a 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 123 Bate Street, Bright, AL 36116. Both children are under the age of 17:
Jason Jr. (412-34-5672), date of birth 7/20/14
Catlin (412-34-5673), date of birth 1/08/18
Vickis W-2 information is as follows:
Wages$ 94,214Federal withholding22,000Social security wages94,214Social security withholding5,841Medicare withholding1,366State withholding4,700Other income:1099-G Alabama state tax refund is taxable because $4,900 was deducted on last years return$ 4231099-INT First Bank of Alabama2251099-DIV IBM, IncorporatedOrdinary dividends125Qualified dividends125The following information is for Jasons landscaping business:
Revenue$ 153,000Wages41,600Payroll tax3,182Cell phone charge425Assets ( 179 elected)ItemDate PurchasedBusiness Use AmountPercentageTruck (100% business)2/05/2022$ 28,000100%Mower 13/08/202212,000100Mower 23/08/20223,400100Equipment6/25/20221,595100The truck was over 6,000 lb. The Hurtings had the following itemized deductions:
State income tax withholding (from above)$ 4,700Real estate tax2,100Personal property tax425Mortgage interest8,300Charitable contributions2,400The 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 2022. Use the appropriate Tax Rate Schedules.
Note: List the names of the taxpayers inthe order inwhich 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 positivenumbers.Use Rounded values for tax computation. Do not round otherintermediate computations. Round your final answers to nearest whole dollar. Do not skip rows, while entering Dependents section in Form 1040 PG1 and Part V of Schedule C PG2.
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