Required Information {The following information applies to the questions displayed below.) Read the following letter and help Shady Slim with his tax situation. Please assume that his gross Income is $175,690 (which consists only of salary) for purposes of this problem. December 31, 2021 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 $2,390, and I drove Junior in my car. Junior and I got a hotel room along the way that cost us $65 (I love Super 89). Can you believe I'm still paying off my student loans, even after 15 years? I paid a total of $21.240 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 $20.900 in medical expenses, and I was only reimbursed for $11,450. 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! I gave $1,090 In cash to the March of Dimes. I contributed some of my old furniture to the church. It was some good stuff! I contributed a red velvet couch and my old recliner. The furniture is considered Vintage and is worth $5,450 today (the appraiser surprised me), even though I only paid $1,090 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 fumlture 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 $144. Turns out, I don't even miss it because Roca Cola takes it right off my paycheck every month... $24 a month starting In July. My pay stub verifies that I contributed the $144 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 $545 to help him out. I paid a lot of money in Interest this year. I pald a total of $1,040 in personal credit card InterestI also paid $21,240 in Interest on my $590,000 home mortgage that helped me buy my dream home. I also paid $2,180 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 $990. I paid $170 in union dues this year. I had to pay $1,200 for new sults for my job. Roca Cola requires Its managers to wear sults every day on the job. I spent a total of $1.390 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 $1.490 in tuition to go to the local firefighter's school. I 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 15) and Schedule A. You're still doing this for free, right? 1 b. Complete pages 1 of Form 1040 (through taxable income, line 15) and Schedule A. Shady Slim's address is 19010 N.W. 135th Street, Miami, FL 33054. Social security numbers: Shady Slim: 123-45-6789 Shady Slim, Jr: 222-22-2222 (Round your Intermediate computations to the nearest whole dollar amount. Input all the values as positive numbers. Enter any non-financial information, le... Names, Addresses, social security numbers) EXACTLY as they appear in any given Information or Problem Statement. Use 2021 tax rules regardless of year on form.) Form 1040 for a Head of household with one dependent. 1040 PG 1 Schedule Form 1040 Page 1. Department of the Treasury Internal Form Revenue Servio (99) 1040 U.S. Individual 2020 OMS NO. 1545-0074 RS Use Only-o not write or sale in this spece Income Tax Return Married ang Filing Status Single Married in separately OFS) Head of household (HOH Quaying widower) (@N) Jointly Check only you checked the NFS box, enter the name of your spouse. you checked the HOH or Q1 boxenter the child's name the querying person is one box a child but not your dependent Your first name and middle initial Last name Your social security number Spouse's soolal seourity number Joint resum, spouse's first name and middle initial Last name Home address number and Street, you have 8 PO box, see Instructions Apt. no. Presidential Election Campaign City town, or post office you have a foreign address also complete spaces below. ZIP code Check here you or your spouse anglointay want to go to this fund Checking a box below will not change your tex or refund Foreign country name Foreign provinces are county Foreign postal code You Spouse NO At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest Yes in any virtual currency? Someone can Standard claim You 25 a dependent Your spouse as a dependent Deduction Spouse itemizes on a separate resum or you were a dus statusa en Aga Blindness You: Were bom before January 2, 1956 Are und &pouse: Was born before January 2, 1955 sbond Dependents see Instructions (2) Socis security number (3) Realonship to you 14) Uses for see instutions (1) First name Last name Ched tex creat Cred for other dependents more than tour dependents see Instructions and check here 1 Wages series, tips, etc. Astech Forms) 4 20 Asach Sch. B required. 30 e Tex-exempt interes: Se Que dividends 43 RAG Sons sa Pensions and annutes Texable interest b Ordinary vidends Texable amount 3b 45 46 50 b Taxable amount 5b 6o Social security benes 60 b Taxable amount 6b Standard 7 Capital gain or loss. Attach Schedule Drequired. not required. Check Deduction for here Single or Married other income from Schedule 1, line 9 ng separately 512 400 9 Addnes 1.20, 36, 45, 56, 6b. 7 and 8. This is your total income 0 Married 10 Adjustments to income Joinoy or But tyrg a From Schedule 1 ne 22 100 widowler 824.800 b Charitable contributions you take the standard deduction See Instructions 100 -Head of household Addnes 10 and 106. These are your tot 20uments to Income 100 $18.650 11 Subtract line 100 from This is your adjusted gross income 0 if you checked any box under 12 Standard deduction or itemized deductions from Schedule A) 12 Standard 13 13 Qused business income deduction. Asach Form 8995 or Form 8995A Deduction See Instructions 14 Addnes 12 and 13 14 15 Texable income. Subtractine 14 from line 11. zero or less entero- 15 For Disclosure, Privacy Act, and Paperwors Reduction Act Notice, see separate instructions. Cat No. 11340B Form 1040 (2020) THIS FORM 18 A SIMULATION OF AN OFFICIAL U. 8. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILING 3 OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL 2021 Moraw- HEducation 1040 PG 1 Schedule Form 1040 Schedule A. OMIS No. 1545-0074 SCHEDULE A (Form 1040) Itemized Deductions 2020 Department of the Treasury Go to www.lrs.gov/ Bohedule for instruations and the latest Information Attach to Form 1040 or 1040-SR Caution: you are claiming one quedo sester loss on Form 4584. see the Instructions for line 16 Internal Revenue Service (99) Attachment Sequence No. 07 Your social security number Name's shown on Form 1040 or 1040-SR Medical and Dental Expenses 4 Taxes You Paid Caution: Do not include expenses reimbursed or paid by others 1 Medical and dental expenses (see instructions 2 Enter amount from Form 2 1040 or 1040-SR 11 3 Multiply line 2 by 7.59% (0.075) 4 Subtract line 3 from line 1. in 35 more than line 1. enter-O- 6 State and local taves a State and local income taxes or general sales taxes. You may include ether Income taxes or general sales taxes on line 5s, but not bor you efect to Include general seles taxes in ead of income taxes. check this box State and local real estate taxes (see Instructions) o State and local personal property taxes And lines a trough Enter the sale of the 50 or 310.000 (65.000 married ang seperately) & Other taxes. Lis: type and amount ES ED 50 5d 5e 7 7 Addnes se and 6 Interest You 8 Home mortgage Interest and points. you didn't use all of your home mortgage loan's) to buy bued or improve your home see Instructions and check Paid this box a Home mortgage Interest and points reported to you on Form 1098. See Instuctions limited Caution: Your Home mortgage Interes: not reported to you Form 1098 See Instructions mortgage Interested. Had to the person from whom you bought the home see instructions deduction may be and show that person's name identifying no. and address Embed see Instruction 8b 30 Points not reported to you on Form 1098. See Instructions for special rules d Mortgage insurance premiums (see instructions e Addnes a rough a Be investment interest. Atech Form 495 required. See instructions 10 Addnes se and 10 Gifts to 11 11 Gets by cash or check you made any get of $250 or more See Instructions Charity 12 Other than by cash or check you made any of 3250 or more see Caution: you Instructions. You mustasch Form 3433 H over 5500 12 made a gand got a benefit 19 Corryover from prior year See Instructors 14 Addnes 11 Shrough 13 Casualty and 15 Casualty and the losses from a federany decared osaster comer han net used disaster losses). Assen Theft Losses Form 4634 and enter the amount from line 18 of the form See instructions 13 14 15 18 Otherromisin instructions. Us: type and amount Other Itemized Deductions 16 17 Add the amounts in the far right column for lines 4 through 16. Also enter this amount on Form 1040 or 1040- Total SR ne 18 17 Itemized Deductions 18 you elect to itemize deductions even though they are less than your standard deduction check this box Schedule A (Form 1640) For Paperwork Reduction Act Notice, see the instruotions for Forms 1040 and 1040-9R. Ce No. 171450 2020 THIS FORM IS A SIMULATION OF AN OFFICIAL U. &. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINO: OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL 8 2021 Morawan Education Required Information {The following information applies to the questions displayed below.) Read the following letter and help Shady Slim with his tax situation. Please assume that his gross Income is $175,690 (which consists only of salary) for purposes of this problem. December 31, 2021 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 $2,390, and I drove Junior in my car. Junior and I got a hotel room along the way that cost us $65 (I love Super 89). Can you believe I'm still paying off my student loans, even after 15 years? I paid a total of $21.240 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 $20.900 in medical expenses, and I was only reimbursed for $11,450. 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! I gave $1,090 In cash to the March of Dimes. I contributed some of my old furniture to the church. It was some good stuff! I contributed a red velvet couch and my old recliner. The furniture is considered Vintage and is worth $5,450 today (the appraiser surprised me), even though I only paid $1,090 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 fumlture 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 $144. Turns out, I don't even miss it because Roca Cola takes it right off my paycheck every month... $24 a month starting In July. My pay stub verifies that I contributed the $144 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 $545 to help him out. I paid a lot of money in Interest this year. I pald a total of $1,040 in personal credit card InterestI also paid $21,240 in Interest on my $590,000 home mortgage that helped me buy my dream home. I also paid $2,180 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 $990. I paid $170 in union dues this year. I had to pay $1,200 for new sults for my job. Roca Cola requires Its managers to wear sults every day on the job. I spent a total of $1.390 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 $1.490 in tuition to go to the local firefighter's school. I 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 15) and Schedule A. You're still doing this for free, right? 1 b. Complete pages 1 of Form 1040 (through taxable income, line 15) and Schedule A. Shady Slim's address is 19010 N.W. 135th Street, Miami, FL 33054. Social security numbers: Shady Slim: 123-45-6789 Shady Slim, Jr: 222-22-2222 (Round your Intermediate computations to the nearest whole dollar amount. Input all the values as positive numbers. Enter any non-financial information, le... Names, Addresses, social security numbers) EXACTLY as they appear in any given Information or Problem Statement. Use 2021 tax rules regardless of year on form.) Form 1040 for a Head of household with one dependent. 1040 PG 1 Schedule Form 1040 Page 1. Department of the Treasury Internal Form Revenue Servio (99) 1040 U.S. Individual 2020 OMS NO. 1545-0074 RS Use Only-o not write or sale in this spece Income Tax Return Married ang Filing Status Single Married in separately OFS) Head of household (HOH Quaying widower) (@N) Jointly Check only you checked the NFS box, enter the name of your spouse. you checked the HOH or Q1 boxenter the child's name the querying person is one box a child but not your dependent Your first name and middle initial Last name Your social security number Spouse's soolal seourity number Joint resum, spouse's first name and middle initial Last name Home address number and Street, you have 8 PO box, see Instructions Apt. no. Presidential Election Campaign City town, or post office you have a foreign address also complete spaces below. ZIP code Check here you or your spouse anglointay want to go to this fund Checking a box below will not change your tex or refund Foreign country name Foreign provinces are county Foreign postal code You Spouse NO At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest Yes in any virtual currency? Someone can Standard claim You 25 a dependent Your spouse as a dependent Deduction Spouse itemizes on a separate resum or you were a dus statusa en Aga Blindness You: Were bom before January 2, 1956 Are und &pouse: Was born before January 2, 1955 sbond Dependents see Instructions (2) Socis security number (3) Realonship to you 14) Uses for see instutions (1) First name Last name Ched tex creat Cred for other dependents more than tour dependents see Instructions and check here 1 Wages series, tips, etc. Astech Forms) 4 20 Asach Sch. B required. 30 e Tex-exempt interes: Se Que dividends 43 RAG Sons sa Pensions and annutes Texable interest b Ordinary vidends Texable amount 3b 45 46 50 b Taxable amount 5b 6o Social security benes 60 b Taxable amount 6b Standard 7 Capital gain or loss. Attach Schedule Drequired. not required. Check Deduction for here Single or Married other income from Schedule 1, line 9 ng separately 512 400 9 Addnes 1.20, 36, 45, 56, 6b. 7 and 8. This is your total income 0 Married 10 Adjustments to income Joinoy or But tyrg a From Schedule 1 ne 22 100 widowler 824.800 b Charitable contributions you take the standard deduction See Instructions 100 -Head of household Addnes 10 and 106. These are your tot 20uments to Income 100 $18.650 11 Subtract line 100 from This is your adjusted gross income 0 if you checked any box under 12 Standard deduction or itemized deductions from Schedule A) 12 Standard 13 13 Qused business income deduction. Asach Form 8995 or Form 8995A Deduction See Instructions 14 Addnes 12 and 13 14 15 Texable income. Subtractine 14 from line 11. zero or less entero- 15 For Disclosure, Privacy Act, and Paperwors Reduction Act Notice, see separate instructions. Cat No. 11340B Form 1040 (2020) THIS FORM 18 A SIMULATION OF AN OFFICIAL U. 8. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILING 3 OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL 2021 Moraw- HEducation 1040 PG 1 Schedule Form 1040 Schedule A. OMIS No. 1545-0074 SCHEDULE A (Form 1040) Itemized Deductions 2020 Department of the Treasury Go to www.lrs.gov/ Bohedule for instruations and the latest Information Attach to Form 1040 or 1040-SR Caution: you are claiming one quedo sester loss on Form 4584. see the Instructions for line 16 Internal Revenue Service (99) Attachment Sequence No. 07 Your social security number Name's shown on Form 1040 or 1040-SR Medical and Dental Expenses 4 Taxes You Paid Caution: Do not include expenses reimbursed or paid by others 1 Medical and dental expenses (see instructions 2 Enter amount from Form 2 1040 or 1040-SR 11 3 Multiply line 2 by 7.59% (0.075) 4 Subtract line 3 from line 1. in 35 more than line 1. enter-O- 6 State and local taves a State and local income taxes or general sales taxes. You may include ether Income taxes or general sales taxes on line 5s, but not bor you efect to Include general seles taxes in ead of income taxes. check this box State and local real estate taxes (see Instructions) o State and local personal property taxes And lines a trough Enter the sale of the 50 or 310.000 (65.000 married ang seperately) & Other taxes. Lis: type and amount ES ED 50 5d 5e 7 7 Addnes se and 6 Interest You 8 Home mortgage Interest and points. you didn't use all of your home mortgage loan's) to buy bued or improve your home see Instructions and check Paid this box a Home mortgage Interest and points reported to you on Form 1098. See Instuctions limited Caution: Your Home mortgage Interes: not reported to you Form 1098 See Instructions mortgage Interested. Had to the person from whom you bought the home see instructions deduction may be and show that person's name identifying no. and address Embed see Instruction 8b 30 Points not reported to you on Form 1098. See Instructions for special rules d Mortgage insurance premiums (see instructions e Addnes a rough a Be investment interest. Atech Form 495 required. See instructions 10 Addnes se and 10 Gifts to 11 11 Gets by cash or check you made any get of $250 or more See Instructions Charity 12 Other than by cash or check you made any of 3250 or more see Caution: you Instructions. You mustasch Form 3433 H over 5500 12 made a gand got a benefit 19 Corryover from prior year See Instructors 14 Addnes 11 Shrough 13 Casualty and 15 Casualty and the losses from a federany decared osaster comer han net used disaster losses). Assen Theft Losses Form 4634 and enter the amount from line 18 of the form See instructions 13 14 15 18 Otherromisin instructions. Us: type and amount Other Itemized Deductions 16 17 Add the amounts in the far right column for lines 4 through 16. Also enter this amount on Form 1040 or 1040- Total SR ne 18 17 Itemized Deductions 18 you elect to itemize deductions even though they are less than your standard deduction check this box Schedule A (Form 1640) For Paperwork Reduction Act Notice, see the instruotions for Forms 1040 and 1040-9R. Ce No. 171450 2020 THIS FORM IS A SIMULATION OF AN OFFICIAL U. &. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINO: OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL 8 2021 Morawan Education