Marie Lincoln is a head of household. She is 37 years old and her address is 4110 N.E. 13th Street, Miami, FL 33127. Additional information about Ms. Lincoln is as follows: Social security number: 412-34-5670 Date of birth: 1/14/1983 W-2 for Marie shows these amounts: Wages (box 1)- $ 43,600.00 Federal W/H (box 2) $2,488.00 Social security wages (box 3) 5 43.600.00 Social security W/H (box 4)$ 2,703.20 Medicare wages (box 5) $ 43,600.00 Medicare W/H (box 6) $ 632.20 Form 1099-INT for Marie shows this amount: Box 1-$500.00 from A & D Bank. Dependent: Son Steven is 10 years old. His date of birth is 5/11/2010. His social security number is 412-34-5672. Marie is an administrative assistant. Required: Prepare Form 1040 plus all the appropriate Schedules and worksheets for Ms. Lincoln for 2020. She is entitled to a $2.000 child tax credit. For now, enter the credit on the appropriate line of the form. She wants to contribute to the presidential election campaign. Ms Lincoln had qualifying health care coverage at all times during the tax year. (Input all the values as positive numbers. Do not skip rows while entering in Dependents section of Form 1040 PG1) Use the appropriate Tax Tables

Marie Lincoln is a head of household. She is 37 years old and her address is 4110 N.E. 13th Street, Miami, FL 33127. Additional information about Ms. Lincoln is as follows: Social security number: 412-34-5670 Date of birth: 1/14/1983 W-2 for Marie shows these amounts: Wages (box 1)- $ 43,600.00 Federal W/H (box 2) $2,488.00 Social security wages (box 3) 5 43.600.00 Social security W/H (box 4)$ 2,703.20 Medicare wages (box 5) $ 43,600.00 Medicare W/H (box 6) $ 632.20 Form 1099-INT for Marie shows this amount: Box 1-$500.00 from A & D Bank. Dependent: Son Steven is 10 years old. His date of birth is 5/11/2010. His social security number is 412-34-5672. Marie is an administrative assistant. Required: Prepare Form 1040 plus all the appropriate Schedules and worksheets for Ms. Lincoln for 2020. She is entitled to a $2.000 child tax credit. For now, enter the credit on the appropriate line of the form. She wants to contribute to the presidential election campaign. Ms Lincoln had qualifying health care coverage at all times during the tax year. (Input all the values as positive numbers. Do not skip rows while entering in Dependents section of Form 1040 PG1) Use the appropriate Tax Tables

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Marie Lincoln is a head of household. She is 37 years old and her address is 4110 N. E. 13 th street, Miami, FL 33127. Additional information about ms Lincoln is as follows:Social security number: 412 34 5670Date of birth : 1 / 14 / 1982W 2 for Marie shows these amounts:Wages ( box 1) = 43.600Federal W / H ( box 2) = 2.488Social security wages ( box 3) = 43.600Social security W / H ( box 4) = 2703.20Medicare wages ( box 5) = 43600Medicare W / H ( box 6 )= 632Form 1099 - INT for Marie shows this amount :Box 1 = $ 500.000 from A & D Bank.Dependent: Son Steven is 10 years old. His date of birth is 5 / 11 / 2009 . His social security number is 412 34 5672. Marie is an administrative assistant.Required.Prepare the tax return for Ms Lincoln using the appropriate form. She is entitled to a 2000 child tax credit. For now, enter the credit on line 13 a, page 2 of the 1040. She wants to contribute to the presidential election campaign. Ms Lincoln had qualifying health care coverage at all…
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