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Scenario You have received the following information and are asked to fill out Bowen and Bonnie's 2018 form 1040 for them. Bowen and Bonnie are

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Scenario You have received the following information and are asked to fill out Bowen and Bonnie's 2018 form 1040 for them. Bowen and Bonnie are married and do not have children. They rent a house in North Portland. Bonnie works at a coffee shop. Her W-2 reports that she has $34,000 in taxable wages and $4,000 was withheld for Federal income taxes and $2,000 was withheld for Oregon income taxes. Bowen works at an that $3,000 was withheld for federal income taxes and $2,000 was withheld for Oregon income taxes. environmental non-profit. His W-2 reports that he has taxable wages of $30,000, and They paid $1,500 in interest on their student loans in the current year. They also made a charitable donation of $150 to an environmental foundation that Bowen's organization works with that works to preserve the Columbia River Gorge For the purpose of this assignment, you will only need form 1040 and its schedules. Assume they do not have any other income or expenses. Assume the couple will file married filing jointly. If they have a refund, please give them the refund rather than apply it to next year. To calculate the tax due, please use the 2018 tables found in the 1040 instructions. Fill in the Blanks: Enter the following amounts from the 2018 1040. Remember to enter only who numbers with no commas, periods, or symbols: 1040, Line 1: 1040, Line 2b: 1040, Line 10: 1040, Line 5a: 1040, Line 7 040, Line 8: 1040, Line 11: 1040, Line 16 040, Line 21: 040, Line 22: Schedule 1, Line 32: Schedule 1, Line 33: le Schedule 3, Line 55 Schedule 4, Line 61 Schedule 5, Line 66 Other Questions 1. How much did they overpay (underpay) their tax liability 2. What is their marginal tax rate percentage (do not enter the percentage symbol or a decimal point)? 3. What is their gross income? 4. What is their AGI? 5. What is their taxable income

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