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The complete 2018 Form 1040 is not published yet; however, I have posted to Canvas a draft 2018 form 1040 that you must use for


    • The complete 2018 Form 1040 is not published yet; however, I have posted to Canvas a draft 2018 form 1040 that you must use for this project!
  • Doug K. (SSN: 123-45-6789) and DebraB. Johnson (SSN: 123-45-1234) live at 123 W. North Street, Omaha, NE 68142. They fully support theirson, Donovan (SSN: 123-45-1478), who lives with them andis a full-time student at UNO. They also sent $6,000 to their son, David (SSN: 123-45-9632), who lives in Iowa to help with rent. David had made $10,000 of wages before he lost his job during the year. Dougs birthday is 8/5/1953, Debras birthday is 3/15/1958, Donovans birthday is 6/23/1997 and Davids birthday is 12/28/1987. Doug is retired, but works part-time at the local grocery store and Debraworks part-time at the library. Their income and expenses for 2018 include:
    DougsSalary $25,000
    DebrasSalary $18,000
    Interest income from savings account at bank $250
    Dougs pension (all taxable) $15,000
    Social Security reported on box 5 of SSA-1099 $15,600
    Non-qualified Dividends $300
    Total Itemized Deductions $24,500
    Federal Income tax withholding $6,200
    You are a CPA and work as a tax professional at UNO, LLP. The Johnsons have hired you to prepare their 2018 tax return. The firms address is 1040 South 102nd Street, Omaha, NE 68166, their EIN is 14-7598461, and phone number is 402-555-1122. Your PTIN is P11223355. Hints:
  • Because the 2018 forms are not final yet, the 2018 Form 1040 Instructions are not available yet. However, you can utilize your textbook and course materials to guide you as well as the 2017 Form 1040 instructions, especially when calculating taxable social security.
  • Please Note:As the syllabus indicates, these are individual projects not group projects!You are free to utilize the textbook and the form instructions for help. If you need additional assistance feel free to contact me. No tax preparation software such as TurboTax may be used.No other forms are necessary to fill out except for what is required above.

 

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