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 $172,900 (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 $2,300, 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. hit mahiraih hink ma IRFARA 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! I 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 I contributed a red velvet couch and my old recliner. The furniture is considered vintage and is worth $5,000 today (the appraiser surprised mel), 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 sults 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. 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. 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. 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? 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 intermedi computations to the nearest whole do Input all the values as positive numbers. Enter any non-financial information, (e.g. 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 A ERSAND SCHEDULE A OMB No 1545-0074 Itemized Deductions (Form 1040) Go to www.irs.gov/Schedule for instructions and the latest Information 2020 Department of the Treasury Attach to Form 1040 or 1040-SR. intomal Revenue Service (99) Caution: If you are claiming a not qualified disaster oss on Form 4684, 100 the Altachment Sequence No. 07 line 16 Namel) shown on Form 1040 or 1040-SR Your social security number Shady Medical Caution: Do not include expertos reimbursed or paid by others and Dental 1 Medical and dental expenses (see instructions) 2 Enter amount from Form Expenses 1040 or 1040-SR. line 11 3 Multiply line 2 by 7.5% (0.075), 4 Subtract line from line 1. I line 3 is more than tine 1, enter-O- Taxes You 5 State and local taxes Paid a State and local income taxes or general sales taxes. You may include other Income taxes or general sales taxes on line 5a, but not both of you elect to include general sales taxes instead of income taxes 0 5a check this bar b State and local real estate taxes ( Instructions) State and local personal property taxes 50 Required information 5d d Add Ines a through 50 Enter the smaller of line 5d or $10,000 ($5,000 if married fling separately) 6 Other taxes. List type and amount 50 0 7 Add lines to and 6 terest You B Homo mortgage Interest and points you didn't use all of your home ald mortgage loan() to buy bulld, or improve your home, so instructions and check this box a Homo mortgage Interest and points reported to you on Form 1098. Soo Instructions if limited aution: Your Home mortgage Interest not reported to you on Form 1095. See instructions ortgage Interest if limited. If paid to the person from whom you bought the homo, 100 duction may be instructions and show that person's namo identifying no, and address nited (see struction) Ba Bb Bc 3d Se c Points not reported to you on Form 1066. Soe intructions for special rules Mortgage Insurance premiums (uee instructions) Add lines Ba through 8d 9 Investment interest. Attach Form 4952 if required. See Instructions 10 Add lines Be and 9 11 Gifts by cash or check. If you made any gift of $250 or more, see instructions 9 10 0 11 ifts to Required information 10 0 10 Add lines Be and 9 11 Gifts by cash or check. If you made any gift of $250 or more, 500 11 ifts to instructions harity 12 Other than by cash or chock. If you made any gift of $250 or more, see instructions. You must attach Form 8283 it over $500 12 aution: If you ade a gift and 13 sta benefit for it. 13 Carryover from prior year ve Instructions 14 Add lines 11 through 13 asualty and 15 Casualty and theft loss(es) from a federally declared disaster (other than not qualified disaster losses). heft Losses Attach Form 4634 and enter the amount from line 18 of that form. See instructions 14 0 15 16 Other--from list in instructions. List type and amount ther omized oductions 16 17 Add the amounts in the far right column for lines through 10. Also, enter this amount on Form 1040 or otal 1040-SR, line 12 17 0 omized eductions 18. If you loot to mizo deductions even though they are fous than your standard deduction check this box or Paperwork Reduction Act Notice, see the instructions for Forms 1040 and 1040-SR Cat No. 17145C Schedule A (Form 1040) 2020 HIS FORM IS A SIMULATION OF OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELK. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. 2021 McGraw-Hill 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 $172,900 (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 $2,300, 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. hit mahiraih hink ma IRFARA 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! I 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 I contributed a red velvet couch and my old recliner. The furniture is considered vintage and is worth $5,000 today (the appraiser surprised mel), 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 sults 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. 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. 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. 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? 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 intermedi computations to the nearest whole do Input all the values as positive numbers. Enter any non-financial information, (e.g. 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 A ERSAND SCHEDULE A OMB No 1545-0074 Itemized Deductions (Form 1040) Go to www.irs.gov/Schedule for instructions and the latest Information 2020 Department of the Treasury Attach to Form 1040 or 1040-SR. intomal Revenue Service (99) Caution: If you are claiming a not qualified disaster oss on Form 4684, 100 the Altachment Sequence No. 07 line 16 Namel) shown on Form 1040 or 1040-SR Your social security number Shady Medical Caution: Do not include expertos reimbursed or paid by others and Dental 1 Medical and dental expenses (see instructions) 2 Enter amount from Form Expenses 1040 or 1040-SR. line 11 3 Multiply line 2 by 7.5% (0.075), 4 Subtract line from line 1. I line 3 is more than tine 1, enter-O- Taxes You 5 State and local taxes Paid a State and local income taxes or general sales taxes. You may include other Income taxes or general sales taxes on line 5a, but not both of you elect to include general sales taxes instead of income taxes 0 5a check this bar b State and local real estate taxes ( Instructions) State and local personal property taxes 50 Required information 5d d Add Ines a through 50 Enter the smaller of line 5d or $10,000 ($5,000 if married fling separately) 6 Other taxes. List type and amount 50 0 7 Add lines to and 6 terest You B Homo mortgage Interest and points you didn't use all of your home ald mortgage loan() to buy bulld, or improve your home, so instructions and check this box a Homo mortgage Interest and points reported to you on Form 1098. Soo Instructions if limited aution: Your Home mortgage Interest not reported to you on Form 1095. See instructions ortgage Interest if limited. If paid to the person from whom you bought the homo, 100 duction may be instructions and show that person's namo identifying no, and address nited (see struction) Ba Bb Bc 3d Se c Points not reported to you on Form 1066. Soe intructions for special rules Mortgage Insurance premiums (uee instructions) Add lines Ba through 8d 9 Investment interest. Attach Form 4952 if required. See Instructions 10 Add lines Be and 9 11 Gifts by cash or check. If you made any gift of $250 or more, see instructions 9 10 0 11 ifts to Required information 10 0 10 Add lines Be and 9 11 Gifts by cash or check. If you made any gift of $250 or more, 500 11 ifts to instructions harity 12 Other than by cash or chock. If you made any gift of $250 or more, see instructions. You must attach Form 8283 it over $500 12 aution: If you ade a gift and 13 sta benefit for it. 13 Carryover from prior year ve Instructions 14 Add lines 11 through 13 asualty and 15 Casualty and theft loss(es) from a federally declared disaster (other than not qualified disaster losses). heft Losses Attach Form 4634 and enter the amount from line 18 of that form. See instructions 14 0 15 16 Other--from list in instructions. List type and amount ther omized oductions 16 17 Add the amounts in the far right column for lines through 10. Also, enter this amount on Form 1040 or otal 1040-SR, line 12 17 0 omized eductions 18. If you loot to mizo deductions even though they are fous than your standard deduction check this box or Paperwork Reduction Act Notice, see the instructions for Forms 1040 and 1040-SR Cat No. 17145C Schedule A (Form 1040) 2020 HIS FORM IS A SIMULATION OF OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELK. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. 2021 McGraw-Hill Education