Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Tax Return Assignment No. 2 Tax Year 2020 Fall, 2021 Facts Taxpayers' Data: Names Address Benjamin A. and Brenda B. Baker 26 Snead Place Richmond,

image text in transcribed
image text in transcribed
Tax Return Assignment No. 2 Tax Year 2020 Fall, 2021 Facts Taxpayers' Data: Names Address Benjamin A. and Brenda B. Baker 26 Snead Place Richmond, Virginia 23224 222-33-44xx 333-44-55xx Bookkeeper Office Manager SS Numbers: Benjamin Brenda Occupations: Benjamin Brenda Dates of Birth: Benjamin Brenda Marital Status Dependents Taxpayers' Income -- wages Benjamin's employer January 6, 1988 November 30, 1986 Married joint None Richmond Advertising Services, Inc. 4578 Broad Street Richmond, Virginia 23224 $52,000.00 Wages (Benjamin) Withholdings: Social Security Medicare Federal Income Tax Virginia Income Tax 3,224.00 754.00 7,500.00 1,500.00 Virginia Income Tax 1,500.00 Brenda's employer Dominion Engineering Company PC 65 Elm Street Richmond, Virginia 23224 $110,000.00 Wages (Brenda) Withholdings: Social Security Medicare Federal Income Tax Virginia Income Tax 6,820.00 1,595.00 11,000.00 2,700.00 Other income: Interest income Third Virginia Bank (Benjamin) 3,400.00 Lee Saving Bank (joint) 825.00 S. Smart S&L (Brenda) 89.00 Dividend income (all qualifying in nature) Floyd Company (joint) 5,210.00 Assume that taxpayers are covered by qualifying health insurance for all of 2020. Assignment Prepare Benjamin and Brenda's 2020 federal income tax return, submitting Form 1040 and any other required IRS forms and/or schedules. Do not prepare and attach any W-2s. Tax Return Assignment No. 2 Tax Year 2020 Fall, 2021 Facts Taxpayers' Data: Names Address Benjamin A. and Brenda B. Baker 26 Snead Place Richmond, Virginia 23224 222-33-44xx 333-44-55xx Bookkeeper Office Manager SS Numbers: Benjamin Brenda Occupations: Benjamin Brenda Dates of Birth: Benjamin Brenda Marital Status Dependents Taxpayers' Income -- wages Benjamin's employer January 6, 1988 November 30, 1986 Married joint None Richmond Advertising Services, Inc. 4578 Broad Street Richmond, Virginia 23224 $52,000.00 Wages (Benjamin) Withholdings: Social Security Medicare Federal Income Tax Virginia Income Tax 3,224.00 754.00 7,500.00 1,500.00 Virginia Income Tax 1,500.00 Brenda's employer Dominion Engineering Company PC 65 Elm Street Richmond, Virginia 23224 $110,000.00 Wages (Brenda) Withholdings: Social Security Medicare Federal Income Tax Virginia Income Tax 6,820.00 1,595.00 11,000.00 2,700.00 Other income: Interest income Third Virginia Bank (Benjamin) 3,400.00 Lee Saving Bank (joint) 825.00 S. Smart S&L (Brenda) 89.00 Dividend income (all qualifying in nature) Floyd Company (joint) 5,210.00 Assume that taxpayers are covered by qualifying health insurance for all of 2020. Assignment Prepare Benjamin and Brenda's 2020 federal income tax return, submitting Form 1040 and any other required IRS forms and/or schedules. Do not prepare and attach any W-2s

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advances In Quantitative Analysis Of Finance And Accounting - New Series (Vol. 2)

Authors: Lee Cheng Few

1st Edition

9812561641, 9789812561640

More Books

Students also viewed these Accounting questions

Question

4. Foctare of if (rigitadis beia) 4. Foctare of if (rigitadis beia)

Answered: 1 week ago