Question
Tax return problem Carl and Elizabeth Williams are married filing jointly. They are 45 and 40 years old, respectively. Their address is 19010 N.W. 135th
Tax return problem
Carl and Elizabeth Williams are married filing jointly. They are 45 and 40 years old, respectively. Their address is 19010 N.W. 135th Street, Miami, FL 33054. Additional information about Mr. and Mrs. Williams is as follows
Social security number:
Carl: 412-34-5670
Date of birth: 7/13/1977
W-2 for Carl shows these amounts:
Wages (box 1) = $ 75,085.00
Federal W/H (box 2) = $ 6,950.00
Social security wages (box 3) = $ 75,085.00
Social security W/H (box 4) = $ 4,655.27
Medicare wages (box 5) = $ 75,085.00
Medicare W/H (box 6) = $ 1,088.73
Wages (box 1) =$ 31,207.00
Federal W/H (box 2) =$ 3,700.00
Social security wages (box 3) =$ 31,207.00
Social security W/H (box 4) =$ 1,934.83
Medicare wages (box 5) =$ 31,207.00
Medicare W/H (box 6) =$ 452.50
Form 1099-INT for Carl and Elizabeth shows this amount:
Box 1 = $2,450.00 from Global Bank
They also received tax-exempt interest of $500.00, as well as $45.00 for jury duty pay when Carl went to court to serve for a few days.
Carl received two weeks of workers compensation pay for a total of $3,100.00.
Dependent: Son, Carl Jr. who is 7 years old. His date of birth is 3/25/2015. His social security number is 412-34-5672
Carl is a sales manager, and Elizabeth is an office clerk.
Required:
Prepare Form 1040 plus all the appropriate schedules and worksheets for Mr. and Mrs. Williams for 2022. They are entitled to a $2,000 child tax credit. For now, enter the credit on the appropriate line of the form. Mr. and Mrs. Williams had qualifying health care coverage at all times during the tax year. Use the appropriate Tax Tables.
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