Question
sources of income to complete a tax return. Include the following: What income sources should be reported? deductions (standard versus itemized) based on taxpayer circumstances.
sources of income to complete a tax return. Include the following:
What income sources should be reported?
deductions (standard versus itemized) based on taxpayer circumstances. Consider the following:
Does the taxpayer have enough deductions to itemize or is the standard deduction more beneficial?
Apply relevant tax credits to a tax return based on the taxpayer's position to claim tax credits. Consider the following:
Which credits might be applicable to the taxpayer?
Are there income limitations for claiming any available tax credits?
Calculate the correct tax liability utilizing the appropriate tax table.
correct supplemental forms to meet the taxpayer's needs.
Tax Client #2 Alexander Lawson
Descriptors | Data | Comments |
Client ID | 1113 | |
Primary Taxpayer's Legal Name | Alexander Lawson | |
Primary Taxpayer's Preferred Pronoun | He | |
SSN | ***-**-1113 | |
Age | 61 | |
Occupation | Teacher | |
Citizen/U.S. Resident Status | U.S. Citizen | |
Primary Residence | 1667 Crossroads Ct, Laughlin, NV 89029 | Owned; mortgage |
Secondary Residence | N/A | |
Business Owner | N/A | |
Property Ownership | 1667 Crossroads Ct, Laughlin, NV 89029 | |
Languages | English / Spanish | |
Marital Status | Married | |
Spouse's Legal Name | Susan Lawson | |
Spouse's Preferred Pronoun | She | |
Spouse's SSN | ***-**-1114 | |
Spouse's Age | 59 | |
Spouse's Occupation | Teacher | |
Dependent(s) (# - Relationship) (Name/Age/SSN) | 1 - Susan's Mother | Ana Alvarez (Age 83) (***-**-1115) |
Income Streams | W2 | |
Alexander and Susan Lawson are married and have no children. Susan's mother, Ana Alvarez, had been living in their care for over three years since she was no longer able to care for herself on her own. Ana is a U.S. permanent resident and earns no income in the United States or abroad. Both Alexander and Susan are teachers at the local elementary school. Alexander teaches 4th grade and Susan teaches 1st grade. They are active participants in the school's after-care program and summer camp. Client 2 Details
|
Client 2 W2
Alexander's W2 contained information in the following boxes:
Wages (box 1) | $39,405 |
Federal W/H (box 2) | $5,516 |
Social Security Wages (box 3) | $39,405 |
Social Security W/H (box 4) | $2,443 |
Medicare Wages (box 5) | $39,405 |
Medicare W/H (box 6) | $571 |
Susan's W2 contained information in the following boxes:
Wages (box 1) | $52,005 |
Federal W/H (box 2) | $7,200 |
Social Security Wages (box 3) | $52,005 |
Social Security W/H (box 4) | $3,224 |
Medicare Wages (box 5) | $52,005 |
https://www.irs.gov/pub/irs-pdf/f1040.pdf
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