tax return

Tax Return Problems Individual Tax Return Required: . Use the following information to complete Johnelle and Latoya Henry's 2019 federal income tax return. If any information is missing, use reasonable assumptions to fill in the gaps. The forms, schedules, and instructions can be found at the IRS website (www.ic.cov). The instructions can be helpful in completing the forms, Facts: 1. Jolinelle Henry is employed as a human resources manager for Toys Unlimited, Inc., and Latoya is a financial planner for her mother's company, Long-term Investments, Inc., a full-service wealth planning firm. They provide the following information . . . They both want to contribute to the presidential election campaign. They live at 9876 Old Waverly. Charleston, South Carolina 29401 Johnelle's birthday is 7/17/1965 and his Social Security number is 555-12-6789 Latoya's birthday is 9/11/1967 and her Social Security number is 987-654321. Johnelle and Latoya do not have any foreign bank accounts or trusts. Neither Johnelle or Latoya acquired, sold, or exchanged virtual currency in 2019. 2. Johnelle received a Form W-2 from Toys Unlimited, Inc. that contained the following information: . $45.000 Line I Wages, tips, other compensation Line 2 Federal income tax withheld . 7.500 . Line 3 Social Security wages 45,000 2.790 . 45,000 Line 4 Social Security tax withheld Line 5 Medicare wages and tips Line 6 Medicare tax withheld Line 17 State income tax . 653 2.200 3. Latoya received a Form W-2 from Long-term Investments, Inc., that contained the following information: Line I Wages, tips, other compensation S85.000 Line 2 Federal income tax withheld 12.500 Line 3 Social Security wages 85.000 Line 4 Social Security tax withheld 5.270 CHEDE 85.000 Line 3 Medicare wages and tips Line 6 Medicare tax withheld 1.233 Line 17 State income tax 4.200 50074 20 01 tumber 4. Johnelle and Latoya incurred the following medical expenses for the year 2,000 miles $6.500 1.750 Thinsportation to Chicago for Johnelle's cancer treatment Unreimbursed hospital charges for Johnelle Unreimbursed prescription drug charges for Johnelle and Latoya Unreimbursed physician charges for Johnelle and Latoya Unreimbursed prescription glasses for Latoya Laser hair treatment for Latoya (so that she will no longer need to shave her legs) 2.200 150 2.000 3. Johnelle and Latoya paid S12.000 of interest payments on their primary residence (acquisition debt of $225,000). They also paid $1.750 of interest expense on Latoya's car loan and $500 of interest on their Visa card. 6. Johnelle and Latoya paid $4,000 of real estate taxes on their home and $1.000 of real estate tax on a vacant lot they purchased with the hope of building their dream home in the future. They also paid $3.000 in sales tax on Latoya's car and other purchases and S1,000 of ad valorem personal property tax on their cars. 7. Johnelle and Latoya made the following contributions this year . American Red Cross $ 200 United Way 150 St. Joseph's Catholic Church 8,000 Food for the family of Hanna Barbara (a neighbor who suffered a tragic car accident this past year) 225 Stock transfer to the University of South Carolina (originally 750 purchased for $1.000 in 2005) 8. Johnelle won $5,000 in the state lottery. He has been playing the lottery for years, spending 10 in lottery tickets every week (5520 in total) and is careful that he saves the old tickets to keep track of the numbers he plays