Assume the taxpayer does NOT wish to contribute to the Presidential Election Fund, unless otherwise stated in the problem. In addition, the taxpayers did NOT receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency during the year. Alex Montgomery is single and lives at 3344 Bayview Drive, Richmond Hill, GA 31324. His SSN is 412-34-5670. He recently graduated from the Savannah College of Art and Design and works as a video game developer. His Form W-2 contained the following information. Wages (box 1) = (box 2) = (box 3) = (box 4) = Medicare wages (box 5) - Medicare W/H (box 6) = Federal w/H Social security wages Social security W/H $ 72,288.22 $ 9,137.20 $ 72,288.22 $ 4,481.87 $ 72,288.22 $ 1,048.18 Required: Prepare a Form 1040 for Alex. Use the appropriate Tax Tables. Note: Do not round intermediate computations. Round your final answers to the nearest whole dollar amount. Input all the values as positive numbers. Instructions can be found on certain cells within the forms.
Assume the taxpayer does NOT wish to contribute to the Presidential Election Fund, unless otherwise stated in the problem. In addition, the taxpayers did NOT receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency during the year. Alex Montgomery is single and lives at 3344 Bayview Drive, Richmond Hill, GA 31324. His SSN is 412-34-5670. He recently graduated from the Savannah College of Art and Design and works as a video game developer. His Form W-2 contained the following information. Wages (box 1) = (box 2) = (box 3) = (box 4) = Medicare wages (box 5) - Medicare W/H (box 6) = Federal w/H Social security wages Social security W/H $ 72,288.22 $ 9,137.20 $ 72,288.22 $ 4,481.87 $ 72,288.22 $ 1,048.18 Required: Prepare a Form 1040 for Alex. Use the appropriate Tax Tables. Note: Do not round intermediate computations. Round your final answers to the nearest whole dollar amount. Input all the values as positive numbers. Instructions can be found on certain cells within the forms.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Chapter 1 TRP 1-1
Assume the taxpayer does NOT wish to contribute to the Presidential Election Fund, unless otherwise stated in the problem. In
addition, the taxpayers did NOT receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency
during the year.
Alex Montgomery is single and lives at 3344 Bayview Drive, Richmond Hill, GA 31324. His SSN is 412-34-5670. He recently graduated
from the Savannah College of Art and Design and works as a video game developer. His Form W-2 contained the following
information.
Wages (box 1) =
Federal W/H (box 2) =
Social security wages (box 3) =
Social security W/H (box 4) =
Medicare wages (box 5) =
Medicare W/H (box 6) -
Required:
Prepare a Form 1040 for Alex. Use the appropriate Tax Tables.
Note: Do not round intermediate computations. Round your final answers to the nearest whole dollar amount. Input all the values
as positive numbers. Instructions can be found on certain cells within the forms.
$ 72,288.22
$9,137.20
$ 72,288.22
$ 4,481.87
$ 72,288.22
$ 1,048.18
1040 for a single taxpayer with no dependents.
1040 PG 1
1040 PG 2
Page 2 of Form 1040 Some information does not carry over from Pane 1 Use provided information and follow instructions on form
C
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