Question
Use the following information to prepare a 2021 Form 1040, Schedule 1, and Schedules A and B for Leonard Cox. 1. Leonard Cox is a
Use the following information to prepare a 2021 Form 1040, Schedule 1, and Schedules A and B for Leonard Cox.
1. Leonard Cox is a single taxpayer. Leonard’s social security number is 445-01- 9266, and his date of birth is April 5, 1978. He lives at 2202 Houston Street, Broken Arrow, OK 74012.
2. Leonard is a store manager. His W-2 shows wages of $104,000, federal withholding of $12,200, and Oklahoma withholding of $4,050. When he filed his Oklahoma tax return for 2020 in April of 2021, he paid a balance due of $1,200.
3. Leonard received a 1099-INT that reported $21.12 in interest on his savings account at the Bank of Oklahoma. He also received a 1099-DIV from BOK Financial that reported $5,500 in dividends, including $5,300 in qualified dividends.
4. Leonard contributed $4,000 to his IRA for 2021 and paid $1,200 interest on his student loans. Leonard is not covered by a pension plan through his employer.
5. Leonard has health insurance through his employer, but he had unreimbursed deductible medical expenses of $12,175.
6. He received a Form 1098 from his mortgage lender. This form reports that he paid $8,275 in interest on his home mortgage and $2,150 in property taxes on his residence.
7. Leonard’s charitable contributions included $2,400 to his church and $150 to Doctors without Borders.
Step by Step Solution
3.36 Rating (165 Votes )
There are 3 Steps involved in it
Step: 1
Leonard Cox The social security number is 44501 9266 Wage...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started