Appendix_H - Axia College Material Appendix H Tax Return...

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Axia College Material Appendix H Tax Return Worksheet Directions: Review Gloria Ramsay’s tax return. Answer the following questions based on the information listed in her return. (10 points) 1. Even though Gloria is single, her filing status is Head of Household. Why is Gloria able to file as head of household? Gloria is single and has a dependent child or relative that she is paying more than half of the s upport for. 2.How does Gloria benefit from filing as head of household, rather than single? Gloria will get a credit for having a dependant by filing head of household. 3. What is Gloria’s adjusted gross income? $22,275.00 4.Which line in the tax form did you find her total income? 21 5. Even though Gloria is filing the short form (1040A), she is still able to get two credits. What are the two credits Gloria receives? List the line you found the answers on as well. Child care credit on line 29, and additional child tax credit on line 41
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Unformatted text preview: 6.How much of a refund is Gloria going to receive? $2,500.00 7. What are the four steps listed in the filing checklist? 1-sign and return, 2-assemble the return, 3- mail the return, and 4- keep a copy. 8.On the Wage and Tax statement, list how much Gloria paid in her Federal Tax Withholding? $1,500.00 9.How much did she pay in Social Security and Medicare? Soc Sec is $1,721.00 and Med is $326.00 FP/101 10. Share one thing you found interesting when looking through these forms. Was anything new to you? Do you have any questions about these forms? I found the fact that she did not receive the EIC credit a little interesting. There was nothing new to m e on the form though. Why did she not get the EIC credit, she has a child dependant, and was in the wage brackets? FP/101...
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  • Spring '10
  • Taxation in the United States, Gloria, Gloria Ramsay

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