week 8 assignment - Earned income credit (line 6 step 7...

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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. 1. Even though Gloria is single, her filing status is Head of Household. Why is Gloria able to file as head of household? She has a son who lives with her in her home, so she is able to file as head of household. 2.How does Gloria benefit from filing as head of household, rather than single? She might be able to get more money back, even though it might not be much. 3. What is Gloria’s adjusted gross income? 22,275 4.Which line in the tax form did you find her total income? Line 15 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.
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Unformatted text preview: Earned income credit (line 6 step 7 page 12/33 ) and credit for child care (line 29 page 5/33) 6.How much of a refund is Gloria going to receive? 4,333 7. What are the four steps listed in the filing checklist? Sign and date the return, assemble the return, mail the 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? 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 did not find anything about these forms interesting because I have seen these forms before. My grandmother has helped me with my forms when I was working back in 2008. FP/101...
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This note was uploaded on 02/28/2011 for the course SCI 162 taught by Professor Ebonywardlaw during the Spring '10 term at University of Phoenix.

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week 8 assignment - Earned income credit (line 6 step 7...

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