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Read the following letter and help Shady Slim with his tax situation. Please assume that his gross income is $172.900 (which consists only of salary)

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Read the following letter and help Shady Slim with his tax situation. Please assume that his gross income is $172.900 (which consists only of salary) for purposes of this problem. December 31, 2020 To the friendly student tax preparer: Hi, it's Shady Slim again. I just got back from my 55th birthday party, and I'm told that you need some more information from me in order to complete my tax return. I'm an open book! I'll tell you whatever I think you need to know. Let me tell you a few more things about my life. As you may recall, I am divorced from my wife, Alice. I know that it's unusual, but I have custody of my son, Shady Jr. The judge owed me a few favors and I really love the kid. He lives with me full time and my ex-wife gets him every other weekend. I pay the vast majority of my son's expenses. I think Alice should have to pay some child support, but she doesn't have to pay a dime. The judge didn't owe me that much, I guess. I had to move this year after getting my job at Roca Cola. We moved on February 3 of this year, and I worked my job at Roca Cola for the rest of the year. I still live in the same state, but I moved 500 miles away from my old house. I hired a moving company to move our stuff at a cost of $2,300, and I drove Junior in my car. Junior and I got a hotel room along the way that cost us $65 (I love Super 8!). Can you believe I'm still paying off my student loans, even after 15 years? I paid a total of $900 in interest on my old student loans this year. Remember when I told you about that guy that hit me with his car? I had a bunch of medical expenses that were not reimbursed by the lawsuit or by my insurance. I incurred a total of $20,000 in medical expenses, and I was only reimbursed for $11,000. Good thing I can write off medical expenses, right? I contributed a lot of money to charity this year (and have receipt documentation for all contributions). I'm such a nice guy! gave $1,000 in cash to the March of Dimes. I contributed some of my old furniture to the church. It was some good stuff!! contributed a red velvet couch and my old recliner. The furniture is considered vintage and is worth $5,000 today (the appraiser surprised me!). even though I only paid $1,000 for it back in the day. When I contributed the furniture, the pastor said he didn't like the fabric and was going to sell the furniture to pay for some more pews in the church. Oh well, some people just have no taste, right? Roca Cola had a charity drive for the United Way this year and I contributed $90. Turns out. I don't even miss it because Roca Cola takes it right off my paycheck every month . . . $15 a month starting in July. My pay stub verifies that I contributed the $90 to the United Way. Oh, one other bit of charity from me this year. An old buddy of mine was down on his luck. He lost his job and his house. I gave him $500 to help him out. I paid a lot of money in interest this year. I paid a total of $950 in personal credit card interest. I also paid $18,000 in interest on my $500,000 home mortgage that helped me buy my dream home. I also paid $2,000 in real estate taxes for my new house. A few other things I want to tell you about this year. Someone broke into my house and stole my kid's brand new bicycle and my set of golf clubs. The total loss from theft was $900. I paid $125 in union dues this year. I had to pay $1.200 for new suits for my job. Roca Cola requires its managers to wear suits every day on the job. I spent a total of $1,300 to pay for gas to commute to my job this year. Oh, this is pretty cool. I've always wanted to be a firefighter. I spent $1.400 in tuition to go to the local firefighter's school.1 did this because someone told me that I can deduct the tuition as an itemized deduction, so the money would be coming back to me. That should be all the information you need right now. Please calculate my taxable income and complete page 1 of Form 1040 (through taxable income, line 11b) and Schedule A. You're still doing this for free, right? a. Calculate the taxable income. AGI Itemized Deductions: 0 Taxable income $ 0 b. Complete page 1 of Form 1040 (through taxable income, line 11b) Please right click on the attached Adobe document and select open in new window. Then, download the Tax Form and enter the required values in the appropriate fields. Save your completed Tax Form to your computer and then upload it here by clicking "Browse." Next, click "Save." (Use 2020 tax rules regardless of year on form.) Type here to search * (hp - 2019 11040 Department of Revere U.S. Individual Income Tax Return OM No 1545-0074 Filing Status Married fing Married in ways of OH Olying worden om Check only you checked the MFS box, enter theme spouseIf you checked the HCH OF OWbok rechts are the ing persons on box child but not your dependent Your first name and Laste Your security uber retum, spouse's frame and me Lastame Spouse's courbe Home Address number and you have a Portions Apt. President Deco Campeon Check you using to go And City, town or post offices and ZIP code you have a foreign address also complete spaces below instruction Chasing change you tipo Foreign country name Foreign provinc/statcounty Foreign powe more than four dependents Se instructions and Standard Someone can Yous a dependent Your spouse as a depender Deduction Spomies on a parte rotum or you were a dual-status wie Age/Blindness You were born before by 2.1955 Dependents (see instructions Prane Abid Spo Sacity Was bombefore January 2, 1955 bind on you que o con Od to Gede 1 ed 6 Ta 1 Wages, tips, etc. Altach FormW-2 20 Taxcom interest bTaxable interest Arch Bred Ja Qualified dividende 3a b Ordinarydende Atach Sched Deduction for Aston 4 b Tabort - Seor Me Pensions and aus ng d Table amount $12-200 Sa Socialty benefits Taxable amount Maring y Capital gain or Arachched. If not required, check here wide To Other income MO Add lines 1, 2, 3, 4, 4, 5, 6, and 7a. This is your total income IBANO Be Adjustments to income from Schedule tine you che Subtractine from ine7b. This is your adjusted gross income wybos und Standard deduction or iemed deduction from Biche Decor 10 Qualified business income deduction. Attach For 2005 or Form 5 A 118 Add lines and 10 b Teuble incom, Subtractie la from the contro For Disclosure Privacy Act, and Paperwork Reduction Act Notice, sempre tine Cal 1300 De 110 11b For 1040 per Form 1040 2017 Page 2 1 Taxen) Check homo 8814 2 4972 12 b Add Schedule 2. Bre, andine 132 Charor credit for other dependents Add Scheine and in ander the total 1 Subtract line 13 from line 12 14 15 Other taxes, including employ tax from Schedule 2 line 10 15 16 Addnes 14 and 15. This is your totaltas 15 17 Federal income tax with from Form 2 and 1000 17 18 Other parents and refundable credits you yg chi Eamed income credit 15 sch you Additional child tax credit. Anach Schedule 1812 18 . American opportunity credit from Fomine comb 1 d Schedule 3, line 14 18d . Add lines 18 through 18d. These are your total peyvents and refundable credite 10 Add lines and the These are your total pay 10 Refund in 19 is more Panine 16 subtract line 16 from the 19. This amount you overald 20 21 Amount of in 20 you want refunded to you. If forms attached, check here 21a Routing number Type Checking Section Savings Account number Amount of time 20. you want applied to your 2020 timated tax Amount Amount you owe Subtine 10 om in 16. For details on how to pay, instructions 20 You Owe 24 Estimated tax pentructions Third Party Do you want to low another person than your pard predictis retum with the RSS instructions Yes. Complete beow Designee Designe's Phone Personal diction Number Sign Unde pere need retun und som yng chedules and more knowledge and correct and come on other than apa donor och Here Your signal Date Your cupation sont you an entity Protection PN, enter there Join urn? Sections Spouse's signature Walum, both must Dane Keep a copy for Spouse's con the your spousen Identity Protection Portere your records Iseenet) Phone Email address Preparer's name Preparer's sur PEN Check Pald 3rd Party Design Preparer Firm's Phone Sell employed Use Only Firm's dress Firm's EIN Go to www.n.powForm100 for actions and latest informan For 1040

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