Question
Review the following scenario. Use the information provided to answer questions about the taxpayers 2020 return. Jasmine Dayne (29) is filing as a single taxpayer.
Review the following scenario. Use the information provided to answer questions about the taxpayers 2020 return. Jasmine Dayne (29) is filing as a single taxpayer. In 2020, she received income from the following sources:
- $39,000 in wages.
- Alimony payments totaling $14,328. Her divorce was finalized in October 2019.
- Unemployment compensation of $6,200.
Jasmine also made a timely $2,000 contribution to a traditional IRA for 2020. She had no other income or adjustments, and she will claim the standard deduction. To assist you in answering questions about Jasmines tax return, you may refer to Part I of Schedule 1, Additional Income and Adjustments to Income, which is shown below. Part I Additional Income 1 Taxable refunds, credits, or offsets of state and local income taxes. ________ 2a Alimony received. _________ 2b Date of original divorce or separation agreement (see instructions). _________ 3 Business income or (loss). Attach Schedule C. _________ 4 Other gains or (losses). Attach Form 4797. ________ 5 Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E. ________ 6 Farm income or (loss). Attach Schedule F. ______ 7 Unemployment compensation. _________ 8 Other income. List type and amount. _________ 9 Combine lines 1 through 8. Enter here and on Form 1040, 1040-SR, or 1040-NR, line 8. _________
What amount should Jasmine report for other income? Her partially completed Form 1040, page 1, is shown below. You may use the form to assist you in answering this question.
$0
$6,200
$14,328
$20,528
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