Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Individual tax return problem 1

18/11/2021 Client: muhammad11 Deadline: 2 Day

Appendix C

Ten additional Comprehensive Tax Return problems—covering individual, corporation, partnership, and S corporation tax returns—can be found in the Connect Library.

INDIVIDUAL TAX RETURN PROBLEM 1 Required:

∙ Use the following information to complete Keith and Jennifer Hamilton’s 2017 federal income tax return. If any information is missing, use reasonable assump- tions to fill in the gaps.

∙ Form 1040, supporting schedules, and instructions to the forms and schedules can be found at the IRS website (www.irs.gov).

Facts:

1. Keith Hamilton is employed as an airline pilot for Flyby Airlines in Las Vegas, Nevada. Jennifer is employed as a teacher’s assistant at Small World Elementary School, in Henderson, Nevada. Keith and Jennifer live in a home they purchased this year. Keith and Jennifer have three children who lived with them all year, Joshua (17), Danielle (14), and Sara (10). Keith and Jennifer provided the following personal information:

∙ Keith and Jennifer do not want to contribute to the presidential election campaign. ∙ Keith and Jennifer do not claim itemized deductions. ∙ Keith and Jennifer live at 3678 Blue Sky Drive, Henderson, Nevada 89052. ∙ Keith’s birthday is 10/12/1972 and his Social Security number is 535-22-4466. ∙ Jennifer’s birthday is 7/16/1975 and her Social Security number is 535-44-2255. ∙ Joshua’s birthday is 6/30/2000 and his Social Security number is 454-54-5454. ∙ Danielle’s birthday is 8/12/2003 and her Social Security number is 343-43-4343. ∙ Sara’s birthday is 5/13/2007 and her Social Security number is 232-32-3232.

Comprehensive Tax Return Problems

spi18394_appc_C-C26_online.indd 3 4/17/18 3:23 PM

Appendix C C-1

2. Keith received the following Form W-2 for 2017 from Flyby Airlines.

3. Jennifer received the following Form W-2 for 2017 from Small World Elementary School.

4. During 2017, Keith and Jennifer received $550 in interest from Las Vegas municipal bonds, $1,070 interest from U.S. Treasury bonds, and $65 from their savings account at SCD Credit Union. Keith and Jennifer are joint owners of the Las Vegas city bonds and the U.S. Treasury bonds. They have a joint savings account at SCD Credit Union.

22222 Void a Employee’s social security number For Official Use Only ▶

OMB No. 1545-0008

b Employer identification number (EIN)

c Employer’s name, address, and ZIP code

d Control number

e Employee’s first name and initial Last name Suff.

f Employee’s address and ZIP code

1 Wages, tips, other compensation 2 Federal income tax withheld

3 Social security wages 4 Social security tax withheld

5 Medicare wages and tips 6 Medicare tax withheld

7 Social security tips 8 Allocated tips

9 Verification code 10 Dependent care benefits

11 Nonqualified plans 12a See instructions for box 12 C o d e

12b C o d e

12c C o d e

12d C o d e

13 Statutory employee

Retirement plan

Third-party sick pay

14 Other

15 State Employer’s state ID number 16 State wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 Locality name

Form W-2 Wage and Tax Statement 2017 Copy A For Social Security Administration — Send this entire page with Form W-3 to the Social Security Administration; photocopies are not acceptable.

Department of the Treasury—Internal Revenue Service

For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions.

Cat. No. 10134D

Do Not Cut, Fold, or Staple Forms on This Page

535-44-2255

36,825.00

39,925.00

39,925.00

5,524.00

2,475.35

578.90

Small World Elementary School 333 Tiny Tot Lane Henderson, NV 89053

D 3,100

Jennifer Hamilton 3678 Blue Sky Drive Henderson, NV 89052

NV 123456789 36,825.00 0.00

91-0001003

X

22222 Void a Employee’s social security number For Official Use Only ▶

OMB No. 1545-0008

b Employer identification number (EIN)

c Employer’s name, address, and ZIP code

d Control number

e Employee’s first name and initial Last name Suff.

f Employee’s address and ZIP code

1 Wages, tips, other compensation 2 Federal income tax withheld

3 Social security wages 4 Social security tax withheld

5 Medicare wages and tips 6 Medicare tax withheld

7 Social security tips 8 Allocated tips

9 Verification code 10 Dependent care benefits

11 Nonqualified plans 12a See instructions for box 12 C o d e

12b C o d e

12c C o d e

12d C o d e

13 Statutory employee

Retirement plan

Third-party sick pay

14 Other

15 State Employer’s state ID number 16 State wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 Locality name

Form W-2 Wage and Tax Statement 2017 Copy A For Social Security Administration — Send this entire page with Form W-3 to the Social Security Administration; photocopies are not acceptable.

Department of the Treasury—Internal Revenue Service

For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions.

Cat. No. 10134D

Do Not Cut, Fold, or Staple Forms on This Page

535-22-4466

163,645.00

127,200.00

178,645.00

31,000.00

7,886.40

2,590.35

Flyby Airlines 375 West Flight Blvd. Las Vegas, NV 89119

D 15,000

Keith Hamilton 3678 Blue Sky Drive Henderson, NV 89052

NV 987654321 163,645.00 0.00

91-0001002

X

Source: Form W-2, Department of the Treasury - Internal Revenue Service, 2017

Source: Form W-2, Department of the Treasury - Internal Revenue Service, 2017

spi18394_appc_C-C26_online.indd 1 4/17/18 3:23 PM

C-2 Appendix C

5. On January 21, 2017, Jennifer was involved in a car accident. Because the other driver was at fault, the other driver’s insurance company paid Jennifer $1,350 for medical expenses relating to her injuries from the accident and $300 for emotional distress from the accident. She received payment on March 15, 2017.

6. Keith’s father died on November 15, 2016. Keith received a $100,000 death benefit from his father’s life insurance policy on February 8, 2017.

7. On February 15, 2017, Keith hurt his arm on a family skiing trip in Utah and was unable to fly for two weeks. He received $4,000 for disability pay from his disability insurance policy. He received the check on March 2, 2017. Flyby Airlines paid $600 in premiums on this policy during 2017. The disability insurance policy premiums are paid for by Flyby Airlines as a fully taxable fringe benefit to Keith (the premiums paid on his behalf are included in Keith’s compensation amount on his W-2).

8. Jennifer’s grandmother died on March 10, 2017, leaving Jennifer with an inheri- tance of $30,000. (She received the inheritance on May 12, 2017.) Flyby Airlines had space available on its Long Island, New York, flight and provided Keith, Jennifer, and their three children with free flights so they could attend the funeral. The value of the ticket for each passenger was $600.

9. On April 1, 2017, Jennifer slipped in the Small World Elementary lunchroom and injured her back. Jennifer received $1,200 in worker’s compensation benefits because her work-related injury caused her to miss two weeks of work. She also received a $2,645 reimbursement for medical expenses from the health insurance company. Small World Elementary pays the premiums for Jennifer’s health insur- ance policy as a nontaxable fringe benefit.

10. On May 17, 2017, Keith and Jennifer received a federal income tax refund of $975 from their 2016 federal income tax return.

11. On June 5, 2017, Keith and Jennifer sold their home in Henderson, Nevada, for $510,000 (net of commissions). Keith and Jennifer purchased the home 11 years ago for $470,000. On July 12, 2017, they bought a new home for $675,000.

12. On July 25, 2017, Keith’s aunt Beatrice gave Keith $18,000 because she wanted to let everyone know that Keith is her favorite nephew.

13. On September 29, 2017, Jennifer won an iPad valued at $500 in a raffle at the annual fair held at Joshua’s high school.

14. Keith and Jennifer have qualifying insurance for purposes of the the Affordable Care Act (ACA).

INDIVIDUAL TAX RETURN PROBLEM 2 Required:

∙ Use the following information to complete Johnelle and Latoya Henry’s 2017 federal income tax return. If any information is missing, use reasonable assumptions to fill in the gaps.

∙ You may need the following forms to complete the project: Form 1040 and Schedule A. The forms, schedules, and instructions can be found at the IRS website (www.irs.gov). The instructions can be helpful in completing the forms.

Facts:

1. Johnelle Henry is employed as a human resources manager for Toys Unlimited, Inc., and Latoya is a financial planner for her mother’s company, Long-term Investments, Inc., a full-service wealth-planning firm. They provide the follow- ing information:

∙ They both want to contribute to the presidential election campaign. ∙ They live at 9876 Old Waverly, Charleston, South Carolina 29401.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Top Class Engineers
Best Coursework Help
Academic Master
Assignment Solver
Coursework Helper
Assignments Hut
Writer Writer Name Offer Chat
Top Class Engineers

ONLINE

Top Class Engineers

I have worked on wide variety of research papers including; Analytical research paper, Argumentative research paper, Interpretative research, experimental research etc.

$41 Chat With Writer
Best Coursework Help

ONLINE

Best Coursework Help

I have written research reports, assignments, thesis, research proposals, and dissertations for different level students and on different subjects.

$42 Chat With Writer
Academic Master

ONLINE

Academic Master

I have assisted scholars, business persons, startups, entrepreneurs, marketers, managers etc in their, pitches, presentations, market research, business plans etc.

$35 Chat With Writer
Assignment Solver

ONLINE

Assignment Solver

I am an academic and research writer with having an MBA degree in business and finance. I have written many business reports on several topics and am well aware of all academic referencing styles.

$45 Chat With Writer
Coursework Helper

ONLINE

Coursework Helper

As per my knowledge I can assist you in writing a perfect Planning, Marketing Research, Business Pitches, Business Proposals, Business Feasibility Reports and Content within your given deadline and budget.

$41 Chat With Writer
Assignments Hut

ONLINE

Assignments Hut

I have read your project details and I can provide you QUALITY WORK within your given timeline and budget.

$35 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Extreme greed for riches crossword - Wk 1 Discussion - Two cm diameter charged rings face each other - Dinner plain resort entry - O fortuna spiritual project mp3 download - How the market works assignment answers - Nursing progress notes cheat sheet - Chapter 16 accounting for income taxes - Refer to the following table for waxwania - Bussmann medium voltage fuses - Get your homework done for you - Mount granya state park - Secret life of bees chapter 3 questions and answers - Industries - Future of Work - Jim houghton northwestern mutual - I need 750 words on Human Resource Management 6152 - Internet indian history sourcebook - Week 1 Biology - Duties of a class captain - Compare and contrast servant leadership and followership - Midshires college of midwifery and nursing - Who moved my cheese ppt free download - Independent t test spss - Checklist for performance evaluation - Ebay clothing listing template - The Role of the RN/APRN in Policy Evaluation - West coast cooler dan murphys - What type of seizure was this child probably experiencing - The first step in the screening process for potential markets and sites is to ________. - Author's bias worksheet - Boc medical oxygen cylinder - How to use gibbs reflective cycle in an essay - Playing for pizza john grisham sparknotes - Millionaire cake alpine bakery - Alkaline water ionizer comparison - Iseries mapped drive access denied - Supply chain challenges at leapfrog case study - Urban Expansion in the New Nation - Four uses of comparative data in healthcare organizations - Basic computer terms worksheet - Marketing management orientation concept - A href= http //www.outofservice.com/bigfive/results/ - 63-MS-Four - Discussion needed by friday @ 6pm - Concrete dinosaur bone molds - Ocr mei formula booklet - Zero one two three address instructions - Strategic reference point theory two basic strategic alternatives - Chapter 4 video quiz project repat - Pursell's snow force flock machine - Bridging course timetable unsw sydney 20 january - Concept development practice page 33 1 - Vrtx cmc not responding - What is a scarament - Reading Reflection - Queensland building and construction commission act 1991 schedule 1b - Sans disaster recovery plan template - License application form rms 1001 - Isaac's storm discussion questions answers - Descriptive writing about snow - Acc 201 final project part i accounting cycle report - Psychology Essay 2 - Drugged high on alcohol worksheet answers - Kinetic energy of a rotating disk - Therapy - Limiting reactant and percent yield worksheet - Top hat span tables - Discussion - Financial management of healthcare organizations answers - World History I -entire class - Csbi certification - Biology textbook year 12 - Theme park risk assessment - Gaf score 50 disability - Percent composition of aluminum acetate - WEEK 2 DISCUSSION BUSINESS ETHICS - Mars inc marketing strategy - Education countable or uncountable - Bar mpa to psi - Write 1 page - One piece arc lengths - 2.10 unit test voices of an emerging nation - 2 corinthians 4 nasb - Ypo harvard president's program - Safety and Quality Improvement in Professional Nursing Practice - Major problems in the early republic 1787 1848 - Crow's foot database notation visio 2013 - 6.5 cm ring size in letters - Extension of an elastic band experiment - Where's the love lyrics - Array to cluster labview - Economist intelligence unit's democracy index - For your advice please - +971561686603 Abortion pills in Dubai/Abu Dhabi-mifepristone & misoprostol in DUBAI - Gymea trade union club - I know you love her but let her go - Biovision triglyceride quantification kit - Gauze mat used in laboratory - Abcb protocol for building energy analysis software