Required information [The following information applies to the questions displayed below) Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from corporate bonds. Marc contributed $2,500 to an individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,500 (under a divorce decree effective June 1, 2005). Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc and Michelle are allowed to claim a $2,000 child tax credit for Matthew. Marc and Michelle paid $6,000 of expenditures that qualify as itemized deductions and they had a total of $3,500 in federal income taxes withheld from their paychecks during the year. (Use the tax rate schedules.) Complete Marc and Michelle's Form 1040, pages 1 and 2, and Schedule 1 (use the most recent form available). Marc and Michelle's address is 19010 N.W. 135th Street, Miami, FL 33054. Social security numbers: Marc Taxpayer: 111-22-3333 Michelle Taxpayer: 222-33-4444 Matthew Taxpayer: 333-44-5555 Prior Spouse 111-11-1111 (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. Do not skip rows, while entering in Deductions section of Form 1040 PG1. The refundable portion of the Child Tax Credit is $1,400. Use 2020 tax laws and 2019 tax form.) Neither Marc nor Michelle wish to contribute to the Presidential Election Campaign fund. Schedule 1 of Form 1040. OMB No 1545-0074 SCHEDULE 1 (Form 1040 or 1040-SR) Additional Income and Adjustments to Income 2019 Department of the Treasury Internal Revenue Service Name(s) shown on Form 1040 or 1040-SR Attach to Form 1040 or 1040-SR. Go to www.irs.gov/Form1040 for instructions and the latest information Attachment Sequence No. 01 Your social security number Yes O No 1 2a 3 At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency? Part 1 Additional Income 1 Tascable refunds, credits, or offsets of state and local income taxes 2a Alimony received b Date of original divorce or separation agreements Instructions) 3 Business income or (less). Attach Schedule C Other gains or losses). Attach Form 4797 5 Rental real estate, royalties, partnerships, corporations, trusts, etc. Altach Schedule Farm income or loss). Attach Schedule F Unemployment compensation Other income List type and amount 4 5 6 6 7 7 8 Combine lines through 8. Enter here and on Form 1040 or 1040-SR line 7 Part II Adjustments to Income 10 Educator expenses 10 11 11 12 12 13 13 14 14 15 15 16 16 17 17 Certain business expenses of reservista, performing artists, and foe-basis governmentals Altach Form 2106 Health savings account deduction. Attach Form 889 Moving expenses for members of the Armed Forces Altach Form 3000 Deductible part of employment tax. Attach Schedule Self-employed SEP, SIMPLE, and qualified plans Self-employed health insurance deduction Perally on early withdrawal of savings Aimony paid Recipients SSN Date of original divorce or separation agreement (see instruction) IRA deduction Student loan interest deduction Reserved for future use Add Ines 10 through 21. These are your adjustments to income. Enter here and on Form 1040 or 1040-SR linea 18a 18a b C 19 20 19 20 21 21 22 22 Schedule 1 Form 1040 or 1040-SR) 2019 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: The tax is: $ 0 $ 19,750 10% of taxable income $ 19,750 $ 80,250 $1.975 plus 12% of the excess over $19,750 $ 80,250 $171,050 $9,235 plus 22% of the excess over $80,250 $171,050 $326,600 $29,211 plus 24% of the excess over $171,050 $326,600 $414,700 $66,543 plus 32% of the excess over $326,600 $414,700 $622,050 $94,735 plus 35% of the excess over $414,700 $622,050 $167,307.50 plus 37% of the excess over $622,050 Schedule Z-Head of Household If taxable income is over: But not over: The tax is: $ 0 $ 14,100 10% of taxable income $ 14,100 $ 53,700 $1,410 plus 12% of the excess over $14.100 $ 53,700 $ 85,500 $6,162 plus 22% of the excess over $53,700 $ 85,500 $163,300 $13,158 plus 24% of the excess over $85,500 $163,300 $207,350 $31,830 plus 32% of the excess over $163,300 $207,350 $518,400 $45,926 plus 35% of the excess over $207,350 $518,400 $154,793.50 plus 37% of the excess over $518,400 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: The tax is: $ 0 $ 9.875 10% of taxable income $ 9,875 $ 40,125 $987.50 plus 12% of the excess over $9,875 $ 40,125 $ 85,525 $4,617.50 plus 22% of the excess over $40,125 $ 85,525 $163,300 $14,605.50 plus 24% of the excess over $85,525 $163,300 $207,350 $33,271.50 plus 32% of the excess over $163,300 $207,350 $311,025 $47,367.50 plus 35% of the excess over $207,350 $311,025 $83,653.75 plus 37% of the excess over $311,025