{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

FP Appendix_H - Credit for child care line 29 Additional...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
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. 1. Even though Gloria is single, her filing status is Head of Household. Why is Gloria able to file as head of household? She is the sole provider in the household and no one can claim her as a dependent. 2.How does Gloria benefit from filing as head of household, rather than single? She is able to take advantage of a wider tax bracket meaning the tax rate is lower than if she was filing as an unmarried individual. 3. What is Gloria’s adjusted gross income? $22,275 4.Which line in the tax form did you find her total income? Line 7 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.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Credit for child care line 29 Additional child tax credit part II line 13 6.How much of a refund is Gloria going to receive? $2,500 7. What are the four steps listed in the filing checklist? Sign and date return, Assemble the return, mail return, keep a copy 8.On the Wage and Tax statement, list how much Gloria paid in her Federal Tax Withholding? $1,500 9.How much did she pay in Social Security and Medicare? $1,721 social security $326 Medicare 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 have prepared my own taxes for several years and did not know anything about a Student Loan Interest statement. I am curious how this will help or hinder my tax return. FP/101...
View Full Document

{[ snackBarMessage ]}