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This is a tax return project and I need to complete Form 1040, Schedule 1 and 3, Form 2441. That's all I have. I'm asked
This is a tax return project and I need to complete Form 1040, Schedule 1 and 3, Form 2441. That's all I have. I'm asked to do the tax return for this person.
Alex is a single man who works for Dogs-R-Us, an animal breeding and training company specializing in finding the perfect home for each pet. Alex has a daughter, Abigail, who is 7 years old. The following financial information for 2019 is provided for you below. Alex is looking to supplement his income by starting a side business of selling products for pets. 1. Alex's wages from Dogs-R-Us: $68,600 a. Federal taxes withheld: $4,218 b. Social Security taxes withheld: $4,714 C. State income taxes withheld: $2,354 d. Alex paid $2,200 in interest on his student loans in 2019 e. Alex's employer provided healthcare coverage for him and his daughter. The healthcare coverage premiums cost Alex $1,000 over the course of the year, while the employer incurred an additional $6,875 for the healthcare coverage premium for Alex and his daughter Abigail. Alex's healthcare coverage premiums were taken out of his check on a pre-tax basis. f. Alex incurred an additional $625 in premiums for dental and vision plans. These amounts were also taken out of Alex's gross pay on a pre-tax basis. g. Alex had an additional $3,625 taken out of his check for his contributions to an employee sponsored 401K plan. The amount was taken out on a pre-tax basis. The employed matched the $3,625 contribution to Alex's 401K plan. h. Alex receives $2,000 in qualified dividend from Apple Co. i. Alex paid $2,600 in dependent care expenses for school and after school care for his daughter Abigail. These payments were made to the local elementary school. j. Alex paid $4,200 in mortgage interest for 2019. k. Alex also incurred an additional $1,200 of out of pocket dental expenses this year, which was his only medical expense. Alex is a single man who works for Dogs-R-Us, an animal breeding and training company specializing in finding the perfect home for each pet. Alex has a daughter, Abigail, who is 7 years old. The following financial information for 2019 is provided for you below. Alex is looking to supplement his income by starting a side business of selling products for pets. 1. Alex's wages from Dogs-R-Us: $68,600 a. Federal taxes withheld: $4,218 b. Social Security taxes withheld: $4,714 C. State income taxes withheld: $2,354 d. Alex paid $2,200 in interest on his student loans in 2019 e. Alex's employer provided healthcare coverage for him and his daughter. The healthcare coverage premiums cost Alex $1,000 over the course of the year, while the employer incurred an additional $6,875 for the healthcare coverage premium for Alex and his daughter Abigail. Alex's healthcare coverage premiums were taken out of his check on a pre-tax basis. f. Alex incurred an additional $625 in premiums for dental and vision plans. These amounts were also taken out of Alex's gross pay on a pre-tax basis. g. Alex had an additional $3,625 taken out of his check for his contributions to an employee sponsored 401K plan. The amount was taken out on a pre-tax basis. The employed matched the $3,625 contribution to Alex's 401K plan. h. Alex receives $2,000 in qualified dividend from Apple Co. i. Alex paid $2,600 in dependent care expenses for school and after school care for his daughter Abigail. These payments were made to the local elementary school. j. Alex paid $4,200 in mortgage interest for 2019. k. Alex also incurred an additional $1,200 of out of pocket dental expenses this year, which was his only medical expenseStep by Step Solution
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