Required information [The following information applies to the questions displayed below.) Consider the following letter and answer Shady's question. To my friendly student tax preparer: Hello, my name is Shady Slim. I understand you are going to help me figure out my gross income for the year ... whatever that means. It's been a busy year and I'm a busy man, so let me give you the lowdown on my life and you can do your thing. I was unemployed at the beginning of the year and got $2,000 in unemployment compensation. I later got a job as a manager for Roca Cola. I earned $55,750 in base salary this year. My boss gave me a $5,300 Christmas bonus check on December 22. I decided to hold on to that check and not cash it until next year, so I won't have to pay taxes on it this year. Pretty smart, huh? My job's pretty cool. I get a lot of fringe benefits like a membership to the gym that costs $415 a year and all the Roca Cola I can drink, although I can't really drink a whole lotl figure $40 worth this year. As part of my manager duties, I get to decide on certain things like contracts for the company. My good buddy, Eddie, runs a bottling company. I made sure that he won the bottling contract for Roca Cola for this year (even though his contract wasn't quite the best). Eddie bought me a Corvette this year for being such a good friend. The Corvette cost $53,000, and I'm sure he bought it for me out of the goodness of his heart. What a great guy! Here's a bit of good luck for the year. Upon leaving my office one day, I found $8,150 lying in the street! Well, one person's bad luck is my good luck, right? I like to gamble a lot. I won a $27,450 poker tournament in Las Vegas this year. I also won about $5,060 over the year playing the guys at our Friday night poker game. Can you believe that I didn't lose anything this year? Speaking of the guys, one of them hit me with his car as we were leaving the game one night. He must have been pretty ticked that he lost! I broke my right leg and my left arm. I sued the guy and got $11,600 for my medical expenses and $3,150 to pay my psychotherapist for the emotional problems I had relating to the injuries (I got really depressed!), and I won $12,300 in punitive damages. That'll teach him that he's not so tough without his car! 3 Another bit of bad luck. My uncle Monty died this year. I really liked the guy, but the $215,000 inheritance I received from him made me feel a little better about the loss. I did the smart thing with the money and invested it in stocks and bonds and socked a little into my savings account. As a result, I received $615 in dividends from the stock, $215 in interest from the municipal bonds, and $315 in interest from my savings account. My ex-wife, Alice, is still paying me alimony. She's a lawyer who divorced me in 2015 because I was unethical" or something like that. Because she was making so much money and I was unemployed at the time, the judge ruled that she had to pay ME alimony. Isn't that something? She sent me $3,300 in alimony payments this year. She still kind of likes me, though. She sent me a check for $515 as a Christmas gift this year. I didn't get her anything, though. So there you go. That's this year in a nutshell. Can you figure out my gross income and complete page 1 of Form 1040 (through line 7b) and Schedule 1 for me? And because you're a student, this is free, right? Thanks, I owe you one! Let me know if I can get you a six-pack of Roca Cola or something. es b-1. Complete page 1 of Form 1040 (through line 8b). Download the Tax Form and enter the required values in the appropriate fields. 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 the form.) Department of the Treasury - Internal Revenue Service 1040 ) Return 2019 OMB No. 1545-0074 IRS Use Only-Do not write or staple in this space. Filing Status Single Married filing jointly Married filing separately (MFS) Head of household (HOH) Qualifying widow(er) (QW) Check only If you checked the MFS box, enter the name of spouse. If you checked the HOH or QW box, enter the child's name if the qualifying person is one box a child but not your dependent. Your first name and middle initial Last name Your social security number Shady Slim If joint return, spouse's first name and middle initial Last name Spouse's social security number Home address (number and street). If you have a P.O. box, see instructions. Apt.no Presidential Election Campaign Chacha W IF Glina a City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Checking a box below will not change your tax or refund. You Spouse Foreign country name Foreign province/State/county Foreign postal code If more than four dependents, see instructions and here Standard Someone can claim: You as a dependent Your spouse as a dependent Deduction Spouse itemizes on a separate retum or you were a dual-status alien Age/Blindness You: Were born before January 2, 1955 Are blind Spouse: Was born before January 2, 1955 Is blind Dependents (see instructions): (2) Social security number (3) Relationship to you (4) if qualifies for (see instructions): (1) First name Child tax credit Credit for other dependents Last name 1 1 173655 2b 3a 3b 4a 4a 4b 4d 5b Wages, salaries, tips, etc. Attach Form(s) W-2 2a Tax-exempt interest. 2a b Taxable interest. Attach Sch. B if required 3a Qualified dividends. b Ordinary dividends. Attach Sch. B if required b . IRA distributions b Taxable amount b C Pensions and annuities. 4C d Taxable amount 5a Social security benefits. 5 b Taxable amount Capital gain or loss). Attach Schedule D if required. If not required, check here 7a Other income from Schedule 1, line 9 . Add lines 1, 2b, 3b, 4b, 4d, 5b, 6, and 7a. This is your total income 6 8 Adjustments to income from Schedule 1, line 22 b Subtract line 8a from line 7b. This is your adjusted gross income . 9 Standard deduction or itemized deductions (from Schedule A) 9 10 Qualified business income deduction. Attach Form 8995 or Form 8995-A 10 6 6 Standard Deduction for Single or Married filing separately, $12,200 Married filing jointly or Qualifying widower), $24,400 Head of household $18,350 If you checked any box under Standard Deduction, see instructions. 7a b 7b 8a 8b 9