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What forms do I need for this situation? like 1040 form schedule 1, 2, 3 1040 Qualified Dividend & Capital Gain 1040 Child Tax Credit
What forms do I need for this situation?
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1040 form schedule 1, 2, 3 1040 Qualified Dividend & Capital Gain 1040 Child Tax Credit Credit Limit Worksheet A 1040 EIC 2441 Child and Dependent Care Instructions etc
Carol Brady lives at 461 Ocean Blvd, Savannah, GA, 31512. Ms. Brady's social security number is 256-74-8432, and she is 55 years old. Carol was widowed in 2021 ; her husband of many years, Mike, died unexpectedly. Carol filed a joint return with Mike in 2021. During 2022, Carol worked for Re/Max as a real estate agent and her W-2 shows the following amounts: Carol also received the following ordinary dividends during 2022: IBMMicrosoft$1,600$950 Of the above amounts, the dividends from IBM are also Qualified Dividends. Carol's youngest daughter Cindy Brady, S.S\# 258-45-0257, age 16 and unmarried, lived with Carol during the entire 2022 tax year. Carol provided 100\% of Cindy's support, as well as paid all costs associated with the house in which they live. Cindy earned $6,000 from a summer job during 2022. Cindy started her freshman year of college at Savannah State College (3219 College Street, Savannah, GA 31404 EIN: 56-3602510) in August of 2022. Carol paid \$2,300 in tuition \& fees, and $900 for books for Cindy's first semester in college. Cindy did receive a 1098-T and is considered a full-time student. Additionally, Carol decided to go back to school to pursue a Master of Science in Real Estate; she had attended Berkeley University in the 1990s, where she received an undergraduate degree in child psychology. On August 1, 2022, Carol paid $4,000 to Georgia Southern University (1332 Southern Drive Statesboro, GA 30458 EIN 25-2735315) for her tuition \& fees for the fall 2022 semester. She also paid $750 for books required to be purchased at the school, and $35 for off campus student parking for the semester. Carol did receive a 1098-T from the College. Neither Carol nor Cindy received any scholarships or student financial aid funds for the fall semester; neither has a prior drug felony conviction. Carol has instructed you to prepare the return in a manner that maximizes the tax benefit that she receives from the above education expenses. COMPLETE FORM 1040, WITH ALL REQUIRED SCHEDULES, ATTACHMENTS AND WORKSHEETS, FOR CAROL BRADY. CAROL DESIRES TO HAVE THE LOWEST LEGAL TOTAL TAX LIABILITY POSSIBLE. Hint: After completing the return, the tax payer should have a refund of $4,252.00Step by Step Solution
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