C11-Chp-00-2-Jane-Tax-Return-2011-Form-1040-Prb

C11-Chp-00-2-Jane-Tax-Return-2011-Form-1040-Prb - Problem

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Problem 6e164ce87c71c8fb29303136003637dff6305fe2.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 A, study the applicable section from the Internal Revenue Code. 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. Code Amount Income For AGI from AGI 1 61 Gross Salary $50,000 2 FICA Withheld ($3,825) 3 Fed. Income Tax W/H ($5,000) 4 164 N.C. Income Tax W/H ($2,000) 5 Take-Home Pay $38,175 6 Alimony from Jane's second husband $4,800 7 Jane's interest income from: 8 61(a)(4) Wachovia account $6,000 9 103 City of Concord bonds $3,000 10 102 Gift received from parents $2,000 11 Payments made by Jane 12 215,62(a)(10) Alimony paid to Jane's first husband $9,000 13 219, 62(a)(7) Contribution to IRA $2,500 14 170 Gift to United Way (Charity) $2,000 15 213(a) Hospital Insurance premium $4,000 16 163
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