Tax Homework #3 (20 points): Prepare a Form 1040 for John and Shannon, based on the information below. John and Shannon O'Banion, who live at 3222 Pinon Drive, Mesa, CO 81643, file as married filing jointly. John's social security number is 412-34-5670 (date of birth 5/12/1982), and Shannon's is 412-345671 (date of birth 11/3/1984). John's W-2 contained the following information: Wages (box 1) = $66,346.74 Federal W/H (box 2) = $ 5,224.75 Social security wages (box 3) = $66,346.74 Social security W/H (box 4) = $ 4,113.50 Medicare wages (box 5) = $66,346.74 Medicare W/H (box 6) = $ 962.03 Shannon did not work for the year due to a medical condition but did receive unemployment compensation of $2,711 for the year with federal withholding of $340.25. In the same year, they had the following medical costs: $ 4.250 9.350 835 Shannon's prescribed diabetes medication Shannon's hospital charges Shannon's regular physician visits Shannon's eye doctor Shannon's diabetes blood testing supplies Insurance reimbursements 75 685 1.925 In addition, they had the following other expenses: Page 5.46 $4,950 State income taxes Real estate property taxes 4.170 Car loan interest 500 Shannon did not work for the year due to a medical condition but did receive unemployment compensation of $2.711 for the year with federal withholding of $340.25. In the same year, they had the following medical costs: $ 4,250 9.350 835 Shannon's prescribed diabetes medication Shannon's hospital charges Shannon's regular physician visits Shannon's eye doctor Shannon's diabetes blood testing supplies Insurance reimbursements 75 685 1.925 In addition, they had the following other expenses: Page 5.46 $4.950 4.170 500 State income taxes Real estate property taxes Car loan interest Personal property taxes Cashi charitable contributions (made ratably throughout the year to their church) Mortgage interest expense 765 2.135 9.970 Union dues for John 575 Tax preparation fees 175 Prepare a Form 1040 with a Schedule 1 and Schedule A for the O'Banions using any appropriate worksheets. Tax Homework #3 (20 points): Prepare a Form 1040 for John and Shannon, based on the information below. John and Shannon O'Banion, who live at 3222 Pinon Drive, Mesa, CO 81643, file as married filing jointly. John's social security number is 412-34-5670 (date of birth 5/12/1982), and Shannon's is 412-345671 (date of birth 11/3/1984). John's W-2 contained the following information: Wages (box 1) = $66,346.74 Federal W/H (box 2) = $ 5,224.75 Social security wages (box 3) = $66,346.74 Social security W/H (box 4) = $ 4,113.50 Medicare wages (box 5) = $66,346.74 Medicare W/H (box 6) = $ 962.03 Shannon did not work for the year due to a medical condition but did receive unemployment compensation of $2,711 for the year with federal withholding of $340.25. In the same year, they had the following medical costs: $ 4.250 9.350 835 Shannon's prescribed diabetes medication Shannon's hospital charges Shannon's regular physician visits Shannon's eye doctor Shannon's diabetes blood testing supplies Insurance reimbursements 75 685 1.925 In addition, they had the following other expenses: Page 5.46 $4,950 State income taxes Real estate property taxes 4.170 Car loan interest 500 Shannon did not work for the year due to a medical condition but did receive unemployment compensation of $2.711 for the year with federal withholding of $340.25. In the same year, they had the following medical costs: $ 4,250 9.350 835 Shannon's prescribed diabetes medication Shannon's hospital charges Shannon's regular physician visits Shannon's eye doctor Shannon's diabetes blood testing supplies Insurance reimbursements 75 685 1.925 In addition, they had the following other expenses: Page 5.46 $4.950 4.170 500 State income taxes Real estate property taxes Car loan interest Personal property taxes Cashi charitable contributions (made ratably throughout the year to their church) Mortgage interest expense 765 2.135 9.970 Union dues for John 575 Tax preparation fees 175 Prepare a Form 1040 with a Schedule 1 and Schedule A for the O'Banions using any appropriate worksheets
