T12S-Chp-01-1B-Jane-Tax-Return-2011-Form-1040-Prb

T12S-Chp-01-1B-Jane-Tax-Return-2011-Form-1040-Prb - Problem

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Problem 4947cffd7ca35d87f819abf183656b85701e4e09.xls Page 1 of 1 Jane's Tax Return - Complete Columns E, F, and G of Part 1. Compute tax due or refund in Parts 2 and 3. Column B, study the applicable rules in the textbook on the pages identified. Jane is single. Complete Form 1040, page 1 and 2, and Form 1040-Schedule B. Use Form 1040 for 2011. WWW.IRS.gov A B C D E F G Gross Deduct. Deduct. Text Pg. Amount Income For AGI from AGI 1 1-17, 3-4 Gross Salary $50,000 2 1-12 FICA Withheld (7.65%) ($3,825) 3 Fed. Income Tax W/H ($5,000) 4 1-27 N.C. Income Tax W/H ($2,000) 5 Take-Home Pay $38,175 6 3-18 Alimony from Jane's second husband $4,800 7 Jane's interest income from: 8 3-10 Wachovia account $6,000 9 4-18 City of Concord bonds $3,000 10 4-2 Gift received from parents $2,000 11 Payments made by Jane 12 1-25 Alimony paid to Jane's first husband $9,000 13 1-25 Contribution to IRA $2,500 14 1-27 Gift to United Way (Charity) $2,000 15 1-27 Hospital Insurance premium
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This note was uploaded on 03/09/2012 for the course ACCT 4220 taught by Professor Burton during the Spring '08 term at UNC Charlotte.

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