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so this is a fake sample tax statement off connect. i did it and missing a few blanks. Kequired intormation [The following information applles to

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so this is a fake sample tax statement off connect. i did it and missing a few blanks.
Kequired intormation [The following information applles to the questions displayed below] Diana and Ryan Workman were married on January 1 of last year. Diana has an eight-year-old son, Jorge, from her previous marriage. Ryan works as a computer programmer at Datafile Incorporated (DI) earning a salary of $105,000. Diana is self-employed and runs a day care center. The Workmans reported the following financial information pertaining to their activities during the current year. a. Ryan earned a $105,000 salary for the year. b. Ryan borrowed $13.800 from DI to purchase a car, DI charged him 2 percent interest ($276 ) on the loan, which Ryan paid on December 31 . DI would have charged Ryan $900 if interest had been calculated at the applicable federal interest rate. Assume that tax avoidance was not a motive for the loan. c. Diana recelved $2,900 in alimony and $6,300 in child support payments from her former husband. They divorced in 2016. d. Diana won a $1,080 cash prize at her church-sponsored Bingo game, e. The Workmans recelved $1,400 of interest from corporate bonds and $1,150 of interest from a municipal bond, Diana owned these bonds before she married Ryan. f. The couple bought 86 shares of ABC Incorporated stock for $58 per share on July 2 . The stock was worth $83 a share on December 31. The stock paid a dividend of $1 per share on December 1 . 9. Diana's father passed away on April 14. She inherited cash of $68,000 from her father and his baseball card collection, valued at $3,800. As the beneficiary of her father's life insurance policy, Diana also received $168,000. h. The couple spent a weekend in Atlantic City in November and came home with gross gambling winnings of $3,000. 1. Ryan recelved $4,000 cash for reaching 10 years of continuous service at DI. j. Ryan was hit and injured by a drunk driver while crossing a street at a crosswalk. He was unable to work for a month. He recelved $9,600 from his disability insurance. DI paid the premlums for Ryan, but it reported the amount of the premiums as compensation to Ryan on his year-end W-2. k. The drunk driver who hit Ryan in part (i) was required to pay his $3,800 medical costs, $3,300 for the emotional trauma he suffered from the accident, and $8,600 for punitive damages. 1. For meeting his performance goals this year, Ryan was informed on December 27 that he would receive a $6,800 yearend bonus. DI (located in Houston, Texas) mailed Ryan's bonus check from its payroll processing center (Tampa, Florida) on December 28. Ryan didn't receive the check at his home until January 2. m. Diana is a 10 percent owner of MNO incorporated, a Subchapter S corporation. The company reported ordinary business income for the year of $128,000. Diana acquired the MNO stock two years ago. n. Diana's day care business collected $125,000 in revenues. In addition, customers owed her $12,000 at year-end. During the year, Diana spent $14,500 for supplies, $10,500 for utilities, $33,000 for rent, and $1,400 for miscellaneous expenses. One customer gave her use of his vacation home for a week (worth $11,500 ) in exchange for Diana allowing his child to attend the day care center free of charge. Diana accounts for her business activities using the cash method of accounting. o. Ryan's employer pays the couple's annual health insurance premiums of $14,500 for a qualified plan. 2. Complete page 1 of Form 1040 through line 9 and Schedule 1 for the Workmans (for filing MFJ). (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. Ken does not wish to contribute to the Presidential Election Campaign fund or did not have any virtual currency transactions or interests, Assume the dividends are qualified dividends. Neither Ryan nor Diana wish to contribute to the Presidential Election Cempaign fund or had any virtual currency transactions or interests.) Ryon address is 19010 NW. 135 th Street. Soclal securtty numbers: Ryan: 111.223333 Dima: 222334444 Jorge: 333-44.5555 Cat the 143se Penn tayd [asated Form 1040 schedule 1. Purfose OTHER THUN CDUCATONAL. 02021 Mrorew titt fidatution. 61040PO1 Kequired intormation [The following information applles to the questions displayed below] Diana and Ryan Workman were married on January 1 of last year. Diana has an eight-year-old son, Jorge, from her previous marriage. Ryan works as a computer programmer at Datafile Incorporated (DI) earning a salary of $105,000. Diana is self-employed and runs a day care center. The Workmans reported the following financial information pertaining to their activities during the current year. a. Ryan earned a $105,000 salary for the year. b. Ryan borrowed $13.800 from DI to purchase a car, DI charged him 2 percent interest ($276 ) on the loan, which Ryan paid on December 31 . DI would have charged Ryan $900 if interest had been calculated at the applicable federal interest rate. Assume that tax avoidance was not a motive for the loan. c. Diana recelved $2,900 in alimony and $6,300 in child support payments from her former husband. They divorced in 2016. d. Diana won a $1,080 cash prize at her church-sponsored Bingo game, e. The Workmans recelved $1,400 of interest from corporate bonds and $1,150 of interest from a municipal bond, Diana owned these bonds before she married Ryan. f. The couple bought 86 shares of ABC Incorporated stock for $58 per share on July 2 . The stock was worth $83 a share on December 31. The stock paid a dividend of $1 per share on December 1 . 9. Diana's father passed away on April 14. She inherited cash of $68,000 from her father and his baseball card collection, valued at $3,800. As the beneficiary of her father's life insurance policy, Diana also received $168,000. h. The couple spent a weekend in Atlantic City in November and came home with gross gambling winnings of $3,000. 1. Ryan recelved $4,000 cash for reaching 10 years of continuous service at DI. j. Ryan was hit and injured by a drunk driver while crossing a street at a crosswalk. He was unable to work for a month. He recelved $9,600 from his disability insurance. DI paid the premlums for Ryan, but it reported the amount of the premiums as compensation to Ryan on his year-end W-2. k. The drunk driver who hit Ryan in part (i) was required to pay his $3,800 medical costs, $3,300 for the emotional trauma he suffered from the accident, and $8,600 for punitive damages. 1. For meeting his performance goals this year, Ryan was informed on December 27 that he would receive a $6,800 yearend bonus. DI (located in Houston, Texas) mailed Ryan's bonus check from its payroll processing center (Tampa, Florida) on December 28. Ryan didn't receive the check at his home until January 2. m. Diana is a 10 percent owner of MNO incorporated, a Subchapter S corporation. The company reported ordinary business income for the year of $128,000. Diana acquired the MNO stock two years ago. n. Diana's day care business collected $125,000 in revenues. In addition, customers owed her $12,000 at year-end. During the year, Diana spent $14,500 for supplies, $10,500 for utilities, $33,000 for rent, and $1,400 for miscellaneous expenses. One customer gave her use of his vacation home for a week (worth $11,500 ) in exchange for Diana allowing his child to attend the day care center free of charge. Diana accounts for her business activities using the cash method of accounting. o. Ryan's employer pays the couple's annual health insurance premiums of $14,500 for a qualified plan. 2. Complete page 1 of Form 1040 through line 9 and Schedule 1 for the Workmans (for filing MFJ). (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. Ken does not wish to contribute to the Presidential Election Campaign fund or did not have any virtual currency transactions or interests, Assume the dividends are qualified dividends. Neither Ryan nor Diana wish to contribute to the Presidential Election Cempaign fund or had any virtual currency transactions or interests.) Ryon address is 19010 NW. 135 th Street. Soclal securtty numbers: Ryan: 111.223333 Dima: 222334444 Jorge: 333-44.5555 Cat the 143se Penn tayd [asated Form 1040 schedule 1. Purfose OTHER THUN CDUCATONAL. 02021 Mrorew titt fidatution. 61040PO1

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