Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following involves filing a 1040 income Tax form for the 2018 tax year: Daniel and Mary Jones are married with two children, Jacob and

The following involves filing a 1040 income Tax form for the 2018 tax year:

Daniel and Mary Jones are married with two children, Jacob and Lilli, and file a joint return for income tax purposes.

Daniel and Mary are U.S. citizens and lived in the U.S. for the entire year. Neither are the qualifying child or dependent of anyone else.

INCOME

During 2018, Daniel was employed full?time at Lifetime Sales, Inc. He received one Form W?2 from his employer in January 2019 (attached). He also received interest and dividend income (statements attached). In 2018, Daniel sold some stock that he had for three years and received Form 1099?B reporting the transaction. He had no interest in, or authority over, any foreign accounts.Mary was employed part?time at Hometown Hospital. She received one Form W?2 from her employer in January 2019 (attached).

HEALTH COVERAGE INFORMATION

Daniel covered the entire family under Lifetime Sales' employer plan for every month of the year.The Jones' did not provide any copies of Form 1095-B or Form 1095-C to the tax preparer.

I have to fill in the 2018 1040 form based on the below documentation. In particular i am not quite sure how the interest, dividends and health insurance will impact on the 1040 form. I would appreciate any help you could offer on how to fill out this form correctly.

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

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_2

Step: 3

blur-text-image_3

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

Managerial Accounting Tools For Business Decision Making

Authors: Jerry J Weygandt, Paul D Kimmel, Jill E Mitchell

9th Edition

1119754054, 9781119754053

More Books

Students also viewed these Accounting questions