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Russell and Denise Powell are married filing jointly. Their address is 525 Spencer Street Miami, FL 33054. Additional Information about Mr. and Mrs. Powell is

Russell and Denise Powell are married filing jointly. Their address is 525 Spencer Street Miami, FL 33054. Additional Information about Mr. and Mrs. Powell is as follows:

Russell Powell

Denise Powell

Social Security Number: 412-34-5670

Social Security Number: 412-34-5671

Date of Birth: 4/11/1971

Date of Birth: 7/24/1974

W-2 For Russell shows these amounts:

W-2 for Denise shows these amounts:

Wages (Box 1): $75,000

Wages (Box 1): $35,000

Federal W/H (Box 2): $6,950

Federal W/H (Box 2): $3,820

Social Security Wages (Box 3): $75,000

Social Security Wages (Box 3): $35,000

Social Security W/H (Box 4): $4,650

Social Security W/H (Box 4): $2,025

Medicare Wages (Box 5): $75,000

Medicare Wages (Box 5): $35,000

Medicare W/H (Box 6): $1,088

Medicare W/H (Box 6): $475

Form 1099-INT for Russell and Denise show this amount: Box 1 = $3,740 Peninsula Bank They also received tax-exempt interest of $1,500, as well as $90 for jury duty pay when Denise went to court to serve for two days.

Denise received two weeks of workers compensation pay for a total of $1,750.

Dependent: Daughter Sarah Powell. Her date of birth is 6/15/2008. Her Social Security number is 412-34-5672

Fill out the appropriate tax form for Russell and Denise Powell. Tax forms can be obtained from the IRS website. **Be sure you save the form to your computer BEFORE you fill in any information or your data will be lost when you save the file with the data entered. Once saved, access the saved form from your computer, not the web browser.**

3. During the current year Denise has paid the following medical expenses:

Drugs (prescribed by physician)

$1,850

Marijuana (prescribed by physician)

$2,125

Health Insurance Premiums After Taxes

$775

Doctors Fees

$1,450

Contact Lenses

$280

Over-the-Counter-Drugs

$325

Denise received $750 for a portion of her doctors fees from her insurance.

Create a spreadsheet in Excel to calculate Denises medical expense deduction. Use the formula for calculating a taxpayers medical expense deduction presented in your textbook in learning object 5.6 as a guide. Use the AGI you calculated for the couple in week 2 in your calculation. Make sure to properly label each medicalexpense andprovide an explanation for any medical expenses that are nondeductible.

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