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Requirement: Complete form 1040 below Alice Johnson, Social Security number 222-23-3334, is a single taxpayer and is employed as a secretary by State University of
Requirement: Complete form 1040 below
Alice Johnson, Social Security number 222-23-3334, is a single taxpayer and is employed as a secretary by State University of Florida. She has the following items pertaining to her income tax return for the current year: Received a $30,000 salary from her employer, who withheld $4,200 federal income tax. Received a gift of 1,000 shares of Ace Corporation stock with a $100,000 FMV from her mother. She also received $4,000 of cash dividends from the Ace Corporation. The dividends are qualified dividends. Received $1,000 of interest income on bonds issued by the City of Tampa. Received a regular stock dividend (nontaxable under Sec. 305) of 50 shares of Ace Corporation stock with a $5,000 FMV. Alice's employer paid $2,000 of medical and health insurance premiums on her behalf. Received $13,000 alimony from her ex-husband. They divorced on August 1, 2014. State University provided $60,000 of group term life insurance. Alice is 42 years old and is not a key employee. The table in the text is applicable. Received a $1,000 cash award from her employer for being designated the Secretary of the Year. Total itemized deductions are $10,000. Complete Form 1040 and accompanying schedules for Alice Johnson's 2020 return. 1040 2021 Department of the Treasury - Internal Revenue Service (99) U.S. Individual Income Tax Return 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 widowler) (QW) Check only If you checked the MFS box, enter the name of your spouse. If you checked the HOH or QW box, enter the child's name if the qualifying one box. person is a child but not your dependent Your first name and middle initial Last name Your social security number 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 Check here if you, or your City, town, or post office. If you have a foreign address, also complete spaces below. a State ZIP code spouse if filing jointly, want $3 to go to this fund. Checking a box below will not change Foreign country name Foreign province/state/county Foreign postal code your tax or refund, You Spouse At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency? Yes No Standard Someone can claim: You as a dependent Your spouse as a dependent Deduction Spouse itemizes on a separate return or you were a dual-status alien - Age/Blindness You: Were born before January 2, 1957 Are blind , Spouse: Was born before January 2, 1957 is blind Dependents (see instructions): (2) Social security (3) Relationship (4) If qualifies for (see instructions: (1) First name 1 Last name number to you If more Child tax credit Credit for other dependents than four dependents, see instructions n and check here 1 Wages, salaries, tips, etc. Attach Form(s) W-2... 1 1 *** Attach 2a Tax-exempt interest 2a b Taxable interest Sch. Bir 3a 3a Qualified dividends required. 3b b Ordinary dividends . 4a IRA distributions b Taxable amount 4b 5a Pensions and annuities 5a b Taxable amount 5b Standard 6a Social security benefits b Taxable amount b 6b Deduction for 7 Capital gain or loss). Attach Schedule D if required. If not required, check here 7 Single or Married fling 8 Other income from Schedule 1, line 10 separately 9 $12,550 Add lines 1, 2, 3, 4, 5, 6, 7, and 8. This is your total income 9 3, 6, 7 Married fing 10 Adjustments to income from Schedule 1, line 26 10 jointly or Qualifying 11 Subtract line 10 from line 9. This is your adjusted gross income 11 widowieri 12a Standard deduction or itemized deductions (from Schedule A) 12a $25,100 Head of b Charitable contributions if you take the standard deduction (see instructions) 12b household $18,800 c Add lines 12a and 12b 12c If you checked 13 Qualified business income deduction from Form 8995 or Form 8995-A 13 any box under Standard 14 Add lines 12c and 13 ...... 14 Deduction 15 Taxable income. Subtract line 14 from line 11. If zero or less, enter - - , O- 15 see instructions 2b 4a 8 For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Cat. No. 113200 Form 1040 2021) 27c Form 1040 (2021) Page 2 16 Tax (see instructions). Check if any from Form(s): 1 8814 24972 30 1 16 17 Amount from Schedule 2, line 3 3 17 18 Add lines 16 and 17 18 19 Nonrefundable child tax credit or credit for other dependents from Schedule 8812 19 20 Amount from Schedule 3, line 8 20 21 Add lines 19 and 20. 21 22 Subtract line 21 from line 18. If zero or less, enter -- 22 23 Other taxes, including self-employment tax, from Schedule 2, line 21 23 24 Add lines 22 and 23. This is your total tax 24 25 Federal income tax withheld from: a Form(s) W-2 25a b Form(s) 1099 25b Other forms (see instructions) 250 d Add lines 25a through 250 25d 26 If you have a 2021 estimated tax payments and amount applied from 2020 return 26 qualifying child. 27a Earned income credit (EIC) 27a attach Sch. EIC Check here if you were born after January 1, 1998, and before January 2, 2004, and you satisfy all the other requirements for taxpayers who are at least age 18, to claim the EIC. See instructions b Nontaxable combat pay election 27b c Prior year (2019) earned income 28 Refundable child tax credit or additional child tax credit from Schedule 8812 28 29 American opportunity credit from Form 8863, line 8. 29 30 Recovery rebate credit. See instructions 30 31 Amount from Schedule 3, line 15 3 31 32 Add lines 27a and 28 through 31. These are your total other payments and refundable credits 32 33 Add lines 25d, 26, and 32. These are your total payments 33 Refund 34 If line 33 is more than line 24, subtract line 24 from line 33. This is the amount you overpaid 34 35a Amount of line 34 you want refunded to you. If Form 8888 is attached, check here 35a Direct deposit? > Routing number Type: Checking Savings See instructions. Account number 36 Amount of line 34 you want applied to your 2022 estimated tax 36 Amount 37 Amount you owe. Subtract line 33 from line 24. For details on how to pay, see instructions 37 You Owe 38 Estimated tax penalty (see instructions).... 38 Third Party Do you want to allow another person to discuss this return with the IRS? See Designee instructions Yes. Complete below. No Designee's Phone Personal identification name . no. number (PIN) Sign Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge, Here Your signature Date Your occupation If the IRS sent you an Identity Protection PIN, enter it here Joint return? (see inst.) . See instructions. Spouse's signature. It a joint return, both must sign. Date If . Spouse's occupation If the IRS sent your spouse an Keep a copy for Identity Protection PIN, enter it here your records (see inst.)N TIT Phone no. Email address Preparer's name Preparer's signature Date PTIN Check it: Paid Self-employed Preparer Firm's name Phone no. Use Only Firm's address Firm's EIN Go to www.irs.gov/Form 1040 for instructions and the latest information. Form 1040 (2021) Alice Johnson, Social Security number 222-23-3334, is a single taxpayer and is employed as a secretary by State University of Florida. She has the following items pertaining to her income tax return for the current year: Received a $30,000 salary from her employer, who withheld $4,200 federal income tax. Received a gift of 1,000 shares of Ace Corporation stock with a $100,000 FMV from her mother. She also received $4,000 of cash dividends from the Ace Corporation. The dividends are qualified dividends. Received $1,000 of interest income on bonds issued by the City of Tampa. Received a regular stock dividend (nontaxable under Sec. 305) of 50 shares of Ace Corporation stock with a $5,000 FMV. Alice's employer paid $2,000 of medical and health insurance premiums on her behalf. Received $13,000 alimony from her ex-husband. They divorced on August 1, 2014. State University provided $60,000 of group term life insurance. Alice is 42 years old and is not a key employee. The table in the text is applicable. Received a $1,000 cash award from her employer for being designated the Secretary of the Year. Total itemized deductions are $10,000. Complete Form 1040 and accompanying schedules for Alice Johnson's 2020 return. 1040 2021 Department of the Treasury - Internal Revenue Service (99) U.S. Individual Income Tax Return 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 widowler) (QW) Check only If you checked the MFS box, enter the name of your spouse. If you checked the HOH or QW box, enter the child's name if the qualifying one box. person is a child but not your dependent Your first name and middle initial Last name Your social security number 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 Check here if you, or your City, town, or post office. If you have a foreign address, also complete spaces below. a State ZIP code spouse if filing jointly, want $3 to go to this fund. Checking a box below will not change Foreign country name Foreign province/state/county Foreign postal code your tax or refund, You Spouse At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency? Yes No Standard Someone can claim: You as a dependent Your spouse as a dependent Deduction Spouse itemizes on a separate return or you were a dual-status alien - Age/Blindness You: Were born before January 2, 1957 Are blind , Spouse: Was born before January 2, 1957 is blind Dependents (see instructions): (2) Social security (3) Relationship (4) If qualifies for (see instructions: (1) First name 1 Last name number to you If more Child tax credit Credit for other dependents than four dependents, see instructions n and check here 1 Wages, salaries, tips, etc. Attach Form(s) W-2... 1 1 *** Attach 2a Tax-exempt interest 2a b Taxable interest Sch. Bir 3a 3a Qualified dividends required. 3b b Ordinary dividends . 4a IRA distributions b Taxable amount 4b 5a Pensions and annuities 5a b Taxable amount 5b Standard 6a Social security benefits b Taxable amount b 6b Deduction for 7 Capital gain or loss). Attach Schedule D if required. If not required, check here 7 Single or Married fling 8 Other income from Schedule 1, line 10 separately 9 $12,550 Add lines 1, 2, 3, 4, 5, 6, 7, and 8. This is your total income 9 3, 6, 7 Married fing 10 Adjustments to income from Schedule 1, line 26 10 jointly or Qualifying 11 Subtract line 10 from line 9. This is your adjusted gross income 11 widowieri 12a Standard deduction or itemized deductions (from Schedule A) 12a $25,100 Head of b Charitable contributions if you take the standard deduction (see instructions) 12b household $18,800 c Add lines 12a and 12b 12c If you checked 13 Qualified business income deduction from Form 8995 or Form 8995-A 13 any box under Standard 14 Add lines 12c and 13 ...... 14 Deduction 15 Taxable income. Subtract line 14 from line 11. If zero or less, enter - - , O- 15 see instructions 2b 4a 8 For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Cat. No. 113200 Form 1040 2021) 27c Form 1040 (2021) Page 2 16 Tax (see instructions). Check if any from Form(s): 1 8814 24972 30 1 16 17 Amount from Schedule 2, line 3 3 17 18 Add lines 16 and 17 18 19 Nonrefundable child tax credit or credit for other dependents from Schedule 8812 19 20 Amount from Schedule 3, line 8 20 21 Add lines 19 and 20. 21 22 Subtract line 21 from line 18. If zero or less, enter -- 22 23 Other taxes, including self-employment tax, from Schedule 2, line 21 23 24 Add lines 22 and 23. This is your total tax 24 25 Federal income tax withheld from: a Form(s) W-2 25a b Form(s) 1099 25b Other forms (see instructions) 250 d Add lines 25a through 250 25d 26 If you have a 2021 estimated tax payments and amount applied from 2020 return 26 qualifying child. 27a Earned income credit (EIC) 27a attach Sch. EIC Check here if you were born after January 1, 1998, and before January 2, 2004, and you satisfy all the other requirements for taxpayers who are at least age 18, to claim the EIC. See instructions b Nontaxable combat pay election 27b c Prior year (2019) earned income 28 Refundable child tax credit or additional child tax credit from Schedule 8812 28 29 American opportunity credit from Form 8863, line 8. 29 30 Recovery rebate credit. See instructions 30 31 Amount from Schedule 3, line 15 3 31 32 Add lines 27a and 28 through 31. These are your total other payments and refundable credits 32 33 Add lines 25d, 26, and 32. These are your total payments 33 Refund 34 If line 33 is more than line 24, subtract line 24 from line 33. This is the amount you overpaid 34 35a Amount of line 34 you want refunded to you. If Form 8888 is attached, check here 35a Direct deposit? > Routing number Type: Checking Savings See instructions. Account number 36 Amount of line 34 you want applied to your 2022 estimated tax 36 Amount 37 Amount you owe. Subtract line 33 from line 24. For details on how to pay, see instructions 37 You Owe 38 Estimated tax penalty (see instructions).... 38 Third Party Do you want to allow another person to discuss this return with the IRS? See Designee instructions Yes. Complete below. No Designee's Phone Personal identification name . no. number (PIN) Sign Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge, Here Your signature Date Your occupation If the IRS sent you an Identity Protection PIN, enter it here Joint return? (see inst.) . See instructions. Spouse's signature. It a joint return, both must sign. Date If . Spouse's occupation If the IRS sent your spouse an Keep a copy for Identity Protection PIN, enter it here your records (see inst.)N TIT Phone no. Email address Preparer's name Preparer's signature Date PTIN Check it: Paid Self-employed Preparer Firm's name Phone no. Use Only Firm's address Firm's EIN Go to www.irs.gov/Form 1040 for instructions and the latest information. Form 1040 (2021)Step by Step Solution
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