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Required information Comprehensive Problem 6-59 (LO 6-1, LO 6-2, LO 6-3) [The following informtion applies to the questions displayed below. Rese the following etter and
Required information Comprehensive Problem 6-59 (LO 6-1, LO 6-2, LO 6-3) [The following informtion applies to the questions displayed below. Rese the following etter and help Shaoy Slim with his sx situation. Pleszesume that his gross Income 1: $172.900 (which constess only of salary for purposes of this probem December 31, 2020 To the friendly student tax preparer: Hi, It's Shady Slim again 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 retum. I'm snopen book I'll tel you whatever think you need to know. Let me tell you s few more things sbout my life. As you may recall, sm divorces from my wife, Alice. I know that it unusual, but have custody of my son, Shody Jc The judge owed me a fewfsvors and really love the kid. He lives with me full time and my 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 dime. The judge contowe me that much. I guess had to move this year after getting myjob at Rocs Cols. We moved on February 3 of this year, and worked myJober Rocs Cols for the rest of the year. I live in the same state, but I moves 500 miles away from my old house. I hiredo moving company to move our cust a cost of $2,300 and I drove Junior in my car Junior and got s hotel room cong the way that cost us $65 (love Super Bh Can you beleve I'm paying of my student on even sfter 15 years old a total of $900 Interest on my old studentene this year. Remember when I told you about that guy that it me with his caralhos a bunch of medical expenses that were not reimbursed by the lawsuit or by my insurance. I incurred state of $20.000 in medica 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 rece et documentstion for al contributions. I'm such a nice guy! gave $1.000 inch to the March of Dimes. I contributed some of my old furniture to the church. It wsszame good stuf! contributed red velvet couch and my old recliner. The fumitures considered Vintage and is worth $5.000 today the appraiser surprised mell, even though I only paid $1000 forit osck in the disy. When I contributed the furniture, the poster 38 d he didn't like the fire and was going to sell the future to pay for some more pews in the church Oh well, some pesole just have no taste, right? Rece Cos nada charity drive for the United Way this year and contributed $90. Tums out, I don't ever miss it becsuse Roca Cola takes it right off my paycheck every month $15 a month starting in July. My oby stub verties that contributes the $90 to the United Wey. Oh one other bit of charity from me this year. An old budy of mine was down on his luck. He this job and his house. I gave him $500 to help him out old lot of money in interest this year. I paid a total of $950 in personal credit card interest 1850 paid $18,000 in Tinterest on my $500,000 home mortgage that helped me buy my dream home. Isso paid $2.000 in real estate teves for my new house A few other things I want to tell you sbout this yesr. Someone broke into my house and stole my kid's brand new bicycle and my set of golf clubs. The tota loss from thet wes S900. I paid $125 to union dues this year. Thad to pay $1200 for newsus for my job. Roca Cola requires to managers to wear sults every day on the job. I spent a total of $1.300 to pay for gos to commute to my so this year. Oh, this is pretty cool. I've always wanted to be s fregner spent $1400 intuition to go to the local firefighter's school did this because someone to me that I can deduct the tuitions on itemized deduction, so the money would be coming back to me. That should be all the information you need right now. Plesze cs culate my taxable income and complete page 1 of Form 1040 (through texable income, line and Schedule A You're all doing this for free, right? Comprehensive Problem 6-59 Part a OMB No. 1545-0074 SCHEDULE 1 (Form 1040 or 1040-SR) Additional Income and Adjustments to Income 2019 Attach to Form 1040 or 1040-SR. Department of the Treasury Interna Revenue Service Namas shown on Form 1040 ar 1040-SR Go to www.irs.gov/Form1040 for instructions and the latest information. Attachment Sequence No. 01 Your coolal Gourity number (Enteras Parti 1 b 8 3 4 4 6 B 8 B Part II 10 Additional Income Taxable rotunds, credits, or offsets of state and local income taxes Almony received Date of original divorce or separation agreement see instructions) Business income or loss). Attach Schedule Doner gains ar (sas). Arch Form 4797 Rental real estate, royalties, partnerships s carporations, trusts, etc. Attach Schedule Far income ar loss. Attach Schedule Unemployment compensation Other income List type and amount Combine test though & Enter hore and on Fan 1040 ar 1040-SR, Tina 70 Adjustments to Income Educator expenses Certain business expenses at reservists, porforming artists, and too-basa govement articla. Attach Form 2106 Health Savings account deduction Attach Form 1885 Moving expenses for members of the Armed Forces. Attach Form 3903 Deductible part of self-employment tax. Atach Schedule SE Salt-employed SEP SIMPLE and qualified plans Set-amployed heal insurance Coduction Penalty on any w Indrawal of savings Almany paid Recipant's SSN Date of original divorce ar separation agreements Instructions) IRA deduction 10 12 12 18 18 14 14 16 16 18 16 17 17 18a 18a b 0 18 18 20 Student loan interest deduction 20 21 Reserved for future use 21 22 22 Add Ines 10 through 21. These are your adjustments to Income Enter here and an Form 1040 or 1040-SR line Ba For Paperwork Reduction Act Notios, Gee your tax return inctruotion. Cat No. 714 TOF Bohedule 1 (Form 1040 or 1040-BR) 2018 Required information Comprehensive Problem 6-59 (LO 6-1, LO 6-2, LO 6-3) [The following informtion applies to the questions displayed below. Rese the following etter and help Shaoy Slim with his sx situation. Pleszesume that his gross Income 1: $172.900 (which constess only of salary for purposes of this probem December 31, 2020 To the friendly student tax preparer: Hi, It's Shady Slim again 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 retum. I'm snopen book I'll tel you whatever think you need to know. Let me tell you s few more things sbout my life. As you may recall, sm divorces from my wife, Alice. I know that it unusual, but have custody of my son, Shody Jc The judge owed me a fewfsvors and really love the kid. He lives with me full time and my 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 dime. The judge contowe me that much. I guess had to move this year after getting myjob at Rocs Cols. We moved on February 3 of this year, and worked myJober Rocs Cols for the rest of the year. I live in the same state, but I moves 500 miles away from my old house. I hiredo moving company to move our cust a cost of $2,300 and I drove Junior in my car Junior and got s hotel room cong the way that cost us $65 (love Super Bh Can you beleve I'm paying of my student on even sfter 15 years old a total of $900 Interest on my old studentene this year. Remember when I told you about that guy that it me with his caralhos a bunch of medical expenses that were not reimbursed by the lawsuit or by my insurance. I incurred state of $20.000 in medica 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 rece et documentstion for al contributions. I'm such a nice guy! gave $1.000 inch to the March of Dimes. I contributed some of my old furniture to the church. It wsszame good stuf! contributed red velvet couch and my old recliner. The fumitures considered Vintage and is worth $5.000 today the appraiser surprised mell, even though I only paid $1000 forit osck in the disy. When I contributed the furniture, the poster 38 d he didn't like the fire and was going to sell the future to pay for some more pews in the church Oh well, some pesole just have no taste, right? Rece Cos nada charity drive for the United Way this year and contributed $90. Tums out, I don't ever miss it becsuse Roca Cola takes it right off my paycheck every month $15 a month starting in July. My oby stub verties that contributes the $90 to the United Wey. Oh one other bit of charity from me this year. An old budy of mine was down on his luck. He this job and his house. I gave him $500 to help him out old lot of money in interest this year. I paid a total of $950 in personal credit card interest 1850 paid $18,000 in Tinterest on my $500,000 home mortgage that helped me buy my dream home. Isso paid $2.000 in real estate teves for my new house A few other things I want to tell you sbout this yesr. Someone broke into my house and stole my kid's brand new bicycle and my set of golf clubs. The tota loss from thet wes S900. I paid $125 to union dues this year. Thad to pay $1200 for newsus for my job. Roca Cola requires to managers to wear sults every day on the job. I spent a total of $1.300 to pay for gos to commute to my so this year. Oh, this is pretty cool. I've always wanted to be s fregner spent $1400 intuition to go to the local firefighter's school did this because someone to me that I can deduct the tuitions on itemized deduction, so the money would be coming back to me. That should be all the information you need right now. Plesze cs culate my taxable income and complete page 1 of Form 1040 (through texable income, line and Schedule A You're all doing this for free, right? Comprehensive Problem 6-59 Part a OMB No. 1545-0074 SCHEDULE 1 (Form 1040 or 1040-SR) Additional Income and Adjustments to Income 2019 Attach to Form 1040 or 1040-SR. Department of the Treasury Interna Revenue Service Namas shown on Form 1040 ar 1040-SR Go to www.irs.gov/Form1040 for instructions and the latest information. Attachment Sequence No. 01 Your coolal Gourity number (Enteras Parti 1 b 8 3 4 4 6 B 8 B Part II 10 Additional Income Taxable rotunds, credits, or offsets of state and local income taxes Almony received Date of original divorce or separation agreement see instructions) Business income or loss). Attach Schedule Doner gains ar (sas). Arch Form 4797 Rental real estate, royalties, partnerships s carporations, trusts, etc. Attach Schedule Far income ar loss. Attach Schedule Unemployment compensation Other income List type and amount Combine test though & Enter hore and on Fan 1040 ar 1040-SR, Tina 70 Adjustments to Income Educator expenses Certain business expenses at reservists, porforming artists, and too-basa govement articla. Attach Form 2106 Health Savings account deduction Attach Form 1885 Moving expenses for members of the Armed Forces. Attach Form 3903 Deductible part of self-employment tax. Atach Schedule SE Salt-employed SEP SIMPLE and qualified plans Set-amployed heal insurance Coduction Penalty on any w Indrawal of savings Almany paid Recipant's SSN Date of original divorce ar separation agreements Instructions) IRA deduction 10 12 12 18 18 14 14 16 16 18 16 17 17 18a 18a b 0 18 18 20 Student loan interest deduction 20 21 Reserved for future use 21 22 22 Add Ines 10 through 21. These are your adjustments to Income Enter here and an Form 1040 or 1040-SR line Ba For Paperwork Reduction Act Notios, Gee your tax return inctruotion. Cat No. 714 TOF Bohedule 1 (Form 1040 or 1040-BR) 2018
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