Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Please use 2019 TAX TABLE Marie Lincoln is a head of household. She is 37 years old and her address is 4110 N.E. 13th Street,

Please use 2019 TAX TABLE

image text in transcribedimage text in transcribedimage text in transcribed

Marie Lincoln is a head of household. She is 37 years old and her address is 4110 N.E. 13th Street, Miami, FL 33127. Additional information about Ms. Lincoln is as follows: Social security number: 412-34-5670 Date of birth: 1/14/1982 W-2 for Marie shows these amounts: Wages (box 1) = $43,600.00 Federal W/H (box 2) = $ 2,488.00 Social security wages (box 3) = $43,600.00 Social security W/H (box 4) = $ 2.703.20 Medicare wages (box 5) = $43,600.00 Medicare W/H (box 6) = $ 632.20 Form 1099-INT for Marie shows this amount: Box 1 = $500.00 from A & D Bank. Dependent: Son Steven is 10 years old. His date of birth is 5/11/2009. His social security number is 412-34-5672. Marie is an administrative assistant. Required: Prepare the tax return for Ms. Lincoln using the appropriate form. She is entitled to a $2,000 child tax credit. For now, enter the credit on line 13a, page 2 of the 1040. She wants to contribute to the presidential election campaign. Ms. Lincoln had qualifying health care coverage at all times during the tax year. (Input all the values as positive numbers. Do not skip rows, while entering in Deductions section of Form 1040 PG1.) Use the appropriate Tax Tables Form 1040 - U.S. Individual Income Tax Return 2019 OMB No. 1545-0074 IRS Use Only - Do not write in this space. Filing Status single Marted fling jointy Married fling separately (MFS) Head of household (HOH) Qualifying widower) (W) Check only If you checked the MFS box, enter the name of spouse. If you checked the HOH or QW box, enter the child's name If the qualitying person is one box. a child but not your dependent Your social security number Your first name and middle initial Last name (Enter as 2006-XX-XXXX) If joint retum, spouse's first name and middle Initial Last name Your social security number (Enter as 200-X-XXXX) Home address (number and street). If you have a P.O.box, see Instructions. Apt. no. Presidential Election Campaign Check here if you, or your spouse if filing jointly, want 53 to go to this fund. Checking a box below will not change City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see Instructions). your tax or refund. You Spouse Foreign country name Foreign province/state/county Foreign postal code if more than four dependents, see Instructions and here Someone can Standard claim: You as a dependent Your spouse as a dependent Deduction Spouse Itemizes on a separate retum or you were a dual-status allen Aga Bilindness Your Were born before January 2, 1955 Are bilind Spouse: Was bom before January 2, 1955 Is blind Dependents (see Instructions: (2) Social security number (3) Relationship to you (4) qualities for (see Instructions: (1) First name Last name (Enter as X0E-XX-2000) Child tax credit Credit for other dependents 1 1 Wages, salaries, tips, etc. Attach Forms) W-2 2a Tax-exempt Interest 2a Taxable Interest Attach Sch. Bit required 3a Qualified dividends 3a b Ordinary dividends. Attach Sch. B required Standard 4a IRA distributions b Taxable amount 40 Deduction for- Single or c Pensions and annuities 4c d Taxable amount 4d Married filing separately. Sa Social Security benefits Sa b Taxable amount 50 $12,200 Married fling 6 Capital gain or (1055). Attach Schedule D If required. If not required, check here 6 Jointly or Qualifying 7a Other Income from Schedule 1, line 9 7a widower $24,400 Add lines 1, 2, 3, 4, 40, 5b. 6. and 7a. This is your total income 70 - Head of household 8 a Adjustments to Income from Schedule 1, line 22 Sa $18,350 If you checked b Subtract line 8a from line 7b. This is your adjusted gross Income 8b 0 any box under Standard 9 Standard deduction or itemized deductions (from Schedule A) 9 Deduction see Instructions 10 Qualified business Income deduction. Attach Form 8995 or Form 8995-A 10 11a Add lines 9 and 10 11a 0 b Taxable income. Subtract line 11a from Ine 8b 110 For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate Instructions. Cat No. 113200 Form 1040 (2019) 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 12b 13b 14 15 16 0 17 - If you have a qualifying child attach Sch. EIC - If you have nontaxable combat pay, see instructions 12a Tax (see inst.) Check if any from Form(s) (1)8814 (2) 4972 (3) 12a b Add Schedule 2, line 3, and line 12a and enter the total 13a Child tax credit or credit for other dependents 13a b Add Schedule 3, line 7, and line 13a and enter the total 14 Subtract line 13b from line 12b. If zero or less, enter-O- 15 Other taxes, including self-employment tax, from Schedule 2. line 10 , 2 16 Add lines 14 and 15. This is your total tax 17 Federal income tax withheld from Forms W-2 and 1099 18 Other payments and refundable credits: : a Eamed income credit (EIC) 18a b Additional child tax credit. Attach Schedule 8812 18b c American opportunity credit from Form 8863, line 8 18c d Schedule 3, line 14 18d e Add lines 18a through 18d. These are your total other payments and refundable credits 19 Add lines 17 and 18e. These are your total payments 20 If line 19 is more than line 16, subtract line 16 from line 19. This is the amount you overpaid , 18 21a Amount of line 20 you want refunded to you. If Form 8888 is attached, check here Routing number c Type: : Checking Savings >d Account number 22 Amount of line 20 you want applied to your 2020 estimated tax 22 23 Amount you owe. Subtract line 19 from line 16. For details on how to pay, see instructions , 24 Estimated tax penalty (see instructions) 24 Do you want to allow another person (other than your paid preparer) to discuss this return with the IRS? See instructions. 18e 19 0 20 Refund 21a Direct deposit? See instructions. 23 Amount You Owe Third Party Designee DO Yes. Complete below No (Other than paid preparer) Sign Here Joint retur? See instructions Keep a copy for your records Designee's Phone Personal identification name no. 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 Your occupation If the IRS sent you an Identity Date Protection PIN, enter it here (see inst.) If the IRS sent your spouse an Date Spouse's signature. If a joint retum, both must sign. Spouse's occupation Identity Protection PIN, enter it here (see inst.) Phone no Email address Preparer's name Preparer's signature Date PTIN Check if: 3rd Party Designee Firm's name Phone no. Self-employed Firm's address Firm's EIN Paid Preparer Use Only Marie Lincoln is a head of household. She is 37 years old and her address is 4110 N.E. 13th Street, Miami, FL 33127. Additional information about Ms. Lincoln is as follows: Social security number: 412-34-5670 Date of birth: 1/14/1982 W-2 for Marie shows these amounts: Wages (box 1) = $43,600.00 Federal W/H (box 2) = $ 2,488.00 Social security wages (box 3) = $43,600.00 Social security W/H (box 4) = $ 2.703.20 Medicare wages (box 5) = $43,600.00 Medicare W/H (box 6) = $ 632.20 Form 1099-INT for Marie shows this amount: Box 1 = $500.00 from A & D Bank. Dependent: Son Steven is 10 years old. His date of birth is 5/11/2009. His social security number is 412-34-5672. Marie is an administrative assistant. Required: Prepare the tax return for Ms. Lincoln using the appropriate form. She is entitled to a $2,000 child tax credit. For now, enter the credit on line 13a, page 2 of the 1040. She wants to contribute to the presidential election campaign. Ms. Lincoln had qualifying health care coverage at all times during the tax year. (Input all the values as positive numbers. Do not skip rows, while entering in Deductions section of Form 1040 PG1.) Use the appropriate Tax Tables Form 1040 - U.S. Individual Income Tax Return 2019 OMB No. 1545-0074 IRS Use Only - Do not write in this space. Filing Status single Marted fling jointy Married fling separately (MFS) Head of household (HOH) Qualifying widower) (W) Check only If you checked the MFS box, enter the name of spouse. If you checked the HOH or QW box, enter the child's name If the qualitying person is one box. a child but not your dependent Your social security number Your first name and middle initial Last name (Enter as 2006-XX-XXXX) If joint retum, spouse's first name and middle Initial Last name Your social security number (Enter as 200-X-XXXX) Home address (number and street). If you have a P.O.box, see Instructions. Apt. no. Presidential Election Campaign Check here if you, or your spouse if filing jointly, want 53 to go to this fund. Checking a box below will not change City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see Instructions). your tax or refund. You Spouse Foreign country name Foreign province/state/county Foreign postal code if more than four dependents, see Instructions and here Someone can Standard claim: You as a dependent Your spouse as a dependent Deduction Spouse Itemizes on a separate retum or you were a dual-status allen Aga Bilindness Your Were born before January 2, 1955 Are bilind Spouse: Was bom before January 2, 1955 Is blind Dependents (see Instructions: (2) Social security number (3) Relationship to you (4) qualities for (see Instructions: (1) First name Last name (Enter as X0E-XX-2000) Child tax credit Credit for other dependents 1 1 Wages, salaries, tips, etc. Attach Forms) W-2 2a Tax-exempt Interest 2a Taxable Interest Attach Sch. Bit required 3a Qualified dividends 3a b Ordinary dividends. Attach Sch. B required Standard 4a IRA distributions b Taxable amount 40 Deduction for- Single or c Pensions and annuities 4c d Taxable amount 4d Married filing separately. Sa Social Security benefits Sa b Taxable amount 50 $12,200 Married fling 6 Capital gain or (1055). Attach Schedule D If required. If not required, check here 6 Jointly or Qualifying 7a Other Income from Schedule 1, line 9 7a widower $24,400 Add lines 1, 2, 3, 4, 40, 5b. 6. and 7a. This is your total income 70 - Head of household 8 a Adjustments to Income from Schedule 1, line 22 Sa $18,350 If you checked b Subtract line 8a from line 7b. This is your adjusted gross Income 8b 0 any box under Standard 9 Standard deduction or itemized deductions (from Schedule A) 9 Deduction see Instructions 10 Qualified business Income deduction. Attach Form 8995 or Form 8995-A 10 11a Add lines 9 and 10 11a 0 b Taxable income. Subtract line 11a from Ine 8b 110 For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate Instructions. Cat No. 113200 Form 1040 (2019) 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 12b 13b 14 15 16 0 17 - If you have a qualifying child attach Sch. EIC - If you have nontaxable combat pay, see instructions 12a Tax (see inst.) Check if any from Form(s) (1)8814 (2) 4972 (3) 12a b Add Schedule 2, line 3, and line 12a and enter the total 13a Child tax credit or credit for other dependents 13a b Add Schedule 3, line 7, and line 13a and enter the total 14 Subtract line 13b from line 12b. If zero or less, enter-O- 15 Other taxes, including self-employment tax, from Schedule 2. line 10 , 2 16 Add lines 14 and 15. This is your total tax 17 Federal income tax withheld from Forms W-2 and 1099 18 Other payments and refundable credits: : a Eamed income credit (EIC) 18a b Additional child tax credit. Attach Schedule 8812 18b c American opportunity credit from Form 8863, line 8 18c d Schedule 3, line 14 18d e Add lines 18a through 18d. These are your total other payments and refundable credits 19 Add lines 17 and 18e. These are your total payments 20 If line 19 is more than line 16, subtract line 16 from line 19. This is the amount you overpaid , 18 21a Amount of line 20 you want refunded to you. If Form 8888 is attached, check here Routing number c Type: : Checking Savings >d Account number 22 Amount of line 20 you want applied to your 2020 estimated tax 22 23 Amount you owe. Subtract line 19 from line 16. For details on how to pay, see instructions , 24 Estimated tax penalty (see instructions) 24 Do you want to allow another person (other than your paid preparer) to discuss this return with the IRS? See instructions. 18e 19 0 20 Refund 21a Direct deposit? See instructions. 23 Amount You Owe Third Party Designee DO Yes. Complete below No (Other than paid preparer) Sign Here Joint retur? See instructions Keep a copy for your records Designee's Phone Personal identification name no. 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 Your occupation If the IRS sent you an Identity Date Protection PIN, enter it here (see inst.) If the IRS sent your spouse an Date Spouse's signature. If a joint retum, both must sign. Spouse's occupation Identity Protection PIN, enter it here (see inst.) Phone no Email address Preparer's name Preparer's signature Date PTIN Check if: 3rd Party Designee Firm's name Phone no. Self-employed Firm's address Firm's EIN Paid Preparer Use Only

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Auditing Cases An Active Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

2nd Edition

9781266566899

Students also viewed these Accounting questions