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Use the 1040 links below, Qiang Gao graduated from college in 2011 and began work as a systems analyst in July of that year. He
- Use the 1040 links below, Qiang Gao graduated from college in 2011 and began work as a systems analyst in July of that year. He is preparing to file his income tax return for 2011 and has collected the financial information shown in the table to the right for that calendar year.
Tuition, scholarships, and grants | $5,750 |
Scholarship, room, and board | 1,850 |
Salary | 30,250 |
Interest income | 185 |
Deductible expenses, total | 3,000 |
Income taxes withheld | 2,600 |
Prepare Qiangs 2011 tax return, using a $5,700 standard deduction, a personal exemption of $3,650, and the tax rates given in Exhibit 3.3 on pg 57 of your textbook. Which tax form should Qiang use, and why?
Prepare Qiangs 2011 tax return using the data in part a along with the following information:
IRA contribution | $5,000 |
Cash dividends received | 150 |
1. Which tax form should he use in this case? Why?
2. Prepare Qiang's Tax Return. Click on the link below to go to the IRS Form 1040EZ or 1040. You will need to download, print, complete the form, and upload this completed return back into Canvas.
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