Question 1

Question 1 : The filing status of the taxpayer is?

Single

Married Filing Jointly

Married Filing Separately

Head of Household

Question 2: The number of dependents on the tax return is___

0

1

2

3

4

Question 3: Form 1040 Line 1 _________ (W-2 Wages, enter without comma or $)

Question 4 :Tax-exempt interest on Line 2a _______

Question 5: Taxable interest on Line 2b _____

Question 6:Pensions and annuities (Line 4a) _____

Question 7: Pensions and annuities (Line 4b) ______

Question 8: Schedule 1 Line 1 (Taxable refunds) _____

Question 9 : How much of the AFLAC income is taxable as part of "Other income" on Line 21 of Schedule 1?

0

1000

2000

3000

Question 10: Schedule-1 Other income __________

Question 11: Adjusted Gross Income before Student Loan Interest Deduction _____

Question 12 : Schedule 1 Line 33 Student loan interest deduction ____

Question 13: 2019 Form 1040 Line 8b____ (Adjusted Gross Income)

Question 14 : Schedule-A Itemized Deductions Line 4_____ (Medical and Dental Expenses) Round-up to the next dollar

Question 15: Schedule A Line 7______ (Taxes You Paid)

Question 16: Schedule A Line 10_____ (Interest You Paid)

Question 17: Schedule A Line 14_____ (Gifts to Charity)

Question 18: Schedule A, Line 15 Casualty and Theft Losses (All items are considered one event) ______

Question 19: Schedule-A Line 16_______ (Other Itemized Deductions)

Question 20: 2019 Form 1040 Line 9______ (Total Itemized Deductions)

Question 21: 2019 Form 1040 Line 11b______(Taxable income)

Question 22: 2019 Form 1040 Line 12a______ (Income tax liability) Round-up to the next dollar

You have to answer those question by looking form1040 2019 US individual tax return ( you can find the form in google images it would be in light green color)

Bob and Melissa Grant are married and live in Lexington, Kentucky. The Grants have 17-year old twin daughters. The Grants would like to file a joint tax return for the year. The following information relates to the Grant's tax year: Bob's Social Security number is 987-45-1234 Melissa's Social Security number is 494-37-4893 Jane's Social Security number is 412-32-5690 Anna's Social Security number is 412-32-6940 The Grants' mailing address is 95 Hickory Road, Lexington, Kentucky 40502. Jane and Anna are tax dependents for federal tax purposes Bob Grant received the following during the year: Employer Gross Wages Federal Income Tax State Income Tax Withholding Withholding University of $117,450 $22,000 S6,000 Kentucky Melissa Grant received the following during the year: Employer Gross Wages Federal Income Tax State Income Tax Withholding Withholding Jensen Photography $20,500 S2,450 $1,025 All applicable and appropriate payroll taxes were withheld by Grants respective employers. The Grants also received the following during the year: Interest Income from First Kentucky Bank $580 Interest Income from City of Lexington, KY Bond $600 Interest Income from U.S. Treasury Bond $825 Disability insurance payments received by Bob on account of injury 3,000 Bob's employer paid for the insurance policy issued by Aflac (NYSE AFL) as part of the tax-free fringe benefits Payment to Melissa as a result of a lawsuit for damages she sustained in a car accident: Reimbursement for her medical Expenses $14,500 Punitive Damages $10.000 Eight years ago, Melissa purchased an annuity contract for $80,000. This year, she received her first payment on the annuity. The payment amount was $16,000. The annuity started to pay on January 1 and she received a full first year's payment. It will pay her $16,000 per year for ten years beginning this year. In 2019, they also received $420 of Kentucky state income tax refund. They took itemized deduction in 2018 and the amount of their total itemized deduction in 2018 is $31,878. The total of their 2018 State and Local Taxes paid is 59,100. The Grants also placed $455 in the Kentucky Derby and won $3,225 from their tickets. The Grants paid or incurred the following expenses during the year: Dentist/Orthodontist (not paid by insurance) $ 23,000 Medical visits (not paid by insurance) 625 Prescriptions (not paid by insurance) 380 Real property taxes on residence 1,800 Mortgage interest on principal residence 8,560 Contribution to First Baptist Church of Kentucky (Qualified Charity) 7,000 Fee paid to Jones & Company, CPAs for tax preparation 200 In addition, Melissa.paid $2,500 of interest on her student loan. During the year, the Grants' personal belongings were damaged by a federally declared disaster in September of the current year. All the items are considered damaged in one event. Item Purchase Date Decline in FMV Tax Basis of Insurance Item Reimbursemen t Received Laptop 09/01/2013 3,000 3,000 500 computer and Printer Rifle 03/01/2010 12.000 12,500 500 TV/Projector 03/01/2010 5,000 13,000 1,000 2005 Honda 07/01/2011 4,000 6,500 500 Pilot The Grants do not want to contribute to the Presidential Election Campaign and do not have any virtual currency Bob and Melissa Grant are married and live in Lexington, Kentucky. The Grants have 17-year old twin daughters. The Grants would like to file a joint tax return for the year. The following information relates to the Grant's tax year: Bob's Social Security number is 987-45-1234 Melissa's Social Security number is 494-37-4893 Jane's Social Security number is 412-32-5690 Anna's Social Security number is 412-32-6940 The Grants' mailing address is 95 Hickory Road, Lexington, Kentucky 40502. Jane and Anna are tax dependents for federal tax purposes Bob Grant received the following during the year: Employer Gross Wages Federal Income Tax State Income Tax Withholding Withholding University of $117,450 $22,000 S6,000 Kentucky Melissa Grant received the following during the year: Employer Gross Wages Federal Income Tax State Income Tax Withholding Withholding Jensen Photography $20,500 S2,450 $1,025 All applicable and appropriate payroll taxes were withheld by Grants respective employers. The Grants also received the following during the year: Interest Income from First Kentucky Bank $580 Interest Income from City of Lexington, KY Bond $600 Interest Income from U.S. Treasury Bond $825 Disability insurance payments received by Bob on account of injury 3,000 Bob's employer paid for the insurance policy issued by Aflac (NYSE AFL) as part of the tax-free fringe benefits Payment to Melissa as a result of a lawsuit for damages she sustained in a car accident: Reimbursement for her medical Expenses $14,500 Punitive Damages $10.000 Eight years ago, Melissa purchased an annuity contract for $80,000. This year, she received her first payment on the annuity. The payment amount was $16,000. The annuity started to pay on January 1 and she received a full first year's payment. It will pay her $16,000 per year for ten years beginning this year. In 2019, they also received $420 of Kentucky state income tax refund. They took itemized deduction in 2018 and the amount of their total itemized deduction in 2018 is $31,878. The total of their 2018 State and Local Taxes paid is 59,100. The Grants also placed $455 in the Kentucky Derby and won $3,225 from their tickets. The Grants paid or incurred the following expenses during the year: Dentist/Orthodontist (not paid by insurance) $ 23,000 Medical visits (not paid by insurance) 625 Prescriptions (not paid by insurance) 380 Real property taxes on residence 1,800 Mortgage interest on principal residence 8,560 Contribution to First Baptist Church of Kentucky (Qualified Charity) 7,000 Fee paid to Jones & Company, CPAs for tax preparation 200 In addition, Melissa.paid $2,500 of interest on her student loan. During the year, the Grants' personal belongings were damaged by a federally declared disaster in September of the current year. All the items are considered damaged in one event. Item Purchase Date Decline in FMV Tax Basis of Insurance Item Reimbursemen t Received Laptop 09/01/2013 3,000 3,000 500 computer and Printer Rifle 03/01/2010 12.000 12,500 500 TV/Projector 03/01/2010 5,000 13,000 1,000 2005 Honda 07/01/2011 4,000 6,500 500 Pilot The Grants do not want to contribute to the Presidential Election Campaign and do not have any virtual currency