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Tax Return Problem 4 Jermaine Watson is a single father with a son, Jamal, who qualifies as a dependent. They live at 5678 SE Stark

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Tax Return Problem 4 Jermaine Watson is a single father with a son, Jamal, who qualifies as a dependent. They live at 5678 SE Stark St., Portland, OR 97233. Jermaine 710 works at First Bank of Oregon. Jamal attends school and at the end of the school day he goes to a dependent care facility next door to his school where Jermaine picks him up after work. Jermaine pays $800 per month to the care facility (Portland Day Care, 4567 SE Stark St., Portland, OR 97233. EIN 90-6543210). Jermaine's W-2 from First Bank of Oregon is as follows: Wages (box 1) $61,500.00 Federal W/H (box 2) S 8,455.00 ocial security wages (box 3)- $61,500.00 Social security W/H (box 4) $ 3,813.00 Medicare wages (box 5)H$61,500.00 Medicare W/H (box 6)S 891.75 Medicare W/H (box 6) = $ 891.75 State income taxes (box 17)$ 1,134.90 Jermaine takes one class a semester at Portland State University towards an MBA degree. In 2017, he paid $1,300 in tuition, $300 for books, and $200 for a meal card. Jermaine has some investments in a New Zealand public company. He received foreign-source dividends (non-qualified) of $750 during the year. He paid $225 of foreign tax on the foreign income. He also received $350 of interest income from First Bank of Oregorn. Jermaine's birthdate is 9/14/1986 and Jamal's is 4/22/2007. Their social security numbers are 412-34-5670 and 412-34-5672, respectively. They had qualifying health care coverage at all times during the tax year. Prepare Jermaine's federal tax return. Use Form 1040 and any additional appropriate schedules or forms he may need for credits. For any missing information, make reasonable assumptions. 1 IRC $ 21. 2 IRC 21(b)(2)(A). 3 Family member is defined in IRC $ 151(03). 4 IRC s21(b)(2)(C) and IRC $ 21(b)(2)(D). 5IRC $ 21(b)(1)

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