Question
Steve Jackson (birthdate December 13, 1965) is a single taxpayer living at 3215 Pacific Dr., Del Mar, CA 92014. His Social Security number is 465-88-9415.
Steve Jackson (birthdate December 13, 1965) is a single taxpayer living at 3215 Pacific Dr., Del Mar, CA 92014. His Social Security number is 465-88-9415. In 2016, Steve's earnings and income tax withholding as the manager of a local hotel are:
|
Steve's other income includes interest from General Electric bonds of $2,550 and interest on a savings account at Wells Fargo Bank of $3,210. Also, Steve received tax-exempt interest of $29,420 on private activity bonds that is subject to alternative minimum tax. Steve had full medical coverage for the entire tax year.
During the year, Steve paid the following amounts (all of which can be substantiated):
|
Required:
Complete Steve's federal tax return for 2016. Use Form 1040, Schedule A, Schedule B, and Form 6251.
Make realistic assumptions about any missing data. If an amount box does not require an entry or the answer is zero, enter "0". Enter all amounts as positive numbers. If required, round any amounts to the nearest dollar.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started