Patty Banyan is a single taxpayer, age 27 (birthdate May 18, 1992) living at 543 Space...

Patty Banyan is a single taxpayer, age 27 (birthdate May 18, 1992) living at 543 Space Drive, Houston, TX 77099. Her Social Security number is 466-33-1234. For 2019, Patty has no dependents, and received a W-2, from her job at a local restaurant where she parks cars. These wages are Patty's only income for 2019.

Required:
Complete Form 1040 for Patty Banyan for the 2019 tax year. If there is an over-payment, she would like a refund.

She wants to donate $3 to the Presidential Election Campaign Fund. The election to donate does not affect tax liability in any way.
Patty has health care coverage for the full year.
Enter all amounts as positive numbers.
If an amount box requires no entry or the amount is zero, enter "0".
If required, round amounts to the nearest dollar.

Expert Solution

ekkarill92 answered 9 months ago

Comprehensive Problem 1-1 Patty Banyan is a single taxpayer, age 35, living at 543 Space Drive,...

Comprehensive Problem 1-1 Patty Banyan is a single taxpayer, age 35, living at 543 Space Drive, Houston, TX 77099. Her Social Security number is 466-33-1234. For 2016, Patty has no dependents, and her W-2, from her job at a local restaurant where she parks cars, contains the following information: a Employee's social security number 466-33-1234 OMB No. 1545-0008 Safe, accurate, FAST! Use IRSe ~ file Visit the IRS website at www.irs.gov/efile b Employer identification number (EIN) 33-1235672 1 Wages, tips,...

The following information for 2020 relates to Will, a single taxpayer, age 18: wages - 9,500;...

The following information for 2020 relates to Will, a single taxpayer, age 18: wages - 9,500; taxable interest income - 10,600; itemized deductions - 1,500. Compute Will's tax liability for 2020 assuming he is self-supporting. Compute Will's tax liability for 2020 assuming he is dependent of his parents and they support him entirely (his earned income is NOT more than 50% of his support). His parents marginal tax rate is 22%

. Mrs. A is an unmarried taxpayer with one qualified child, age 15, living in her...

. Mrs. A is an unmarried taxpayer with one qualified child, age 15, living in her home. Her AGI is $40,000 and she does not itemize deductions. Compute Mrs. A’s tax liability. (Take into consideration the child tax credit but ignore the earned income tax credit.) 8. Mr. and Mrs. OP have two dependent children. They paid $7,200 wages to a day care center to care for the children. Mr. and Mrs. OP file a joint return. In each of...

A survey of 1057 parents who have a child under the age of 18 living at...

A survey of 1057 parents who have a child under the age of 18 living at home asked about their opinions regarding violent video games. A report describing the results of the survey stated that 89 % of parents say that violence in today's video games is a problem. (a) What number of survey respondents reported that they thought that violence in today’s video games is a problem? You will need to round your answer. X = (b) Find a...

13. What is the additional standard deduction for old age and blindness for a single taxpayer...

13. What is the additional standard deduction for old age and blindness for a single taxpayer versus a married (filing jointly) taxpayer? 14. When determining a dependent’s standard deduction, what formula is used? 15. When determining a dependent’s standard deduction, what income qualifies as earned income and what income qualifies as unearned income? 16. What are the rules applied when determining which parent (in a divorce) may claim a child as a dependent for purposes of claiming the child tax...

1. Amy is a single taxpayer living in Forest Hills, New York, with adjusted gross income...

1. Amy is a single taxpayer living in Forest Hills, New York, with adjusted gross income of $69,057. Her employer withheld $7,761 in federal income tax, $4,901 in state income tax, and $2,709 in local income taxes from her salary. The real estate taxes on her home are $2,058 and her personal property tax based on the value of her car is $371. Also, she paid $2,638 in state sales taxes for the year. Assuming she elects to itemize her...

On January 1, 2020, Claudia, a single taxpayer who was age 67 at the time, began...

On January 1, 2020, Claudia, a single taxpayer who was age 67 at the time, began receiving monthly retirement benefits from her former employer's pension plan. Claudia did not receive any distributions before the annuity start date, and her investment in the plan is $35,000. There is no survivor beneficiary. I f Claudia receives a monthly benefit of $1,200, what amount will she recover tax-free in 2020?

Alternative Minimum Tax for Individuals Alex (age 35) is a single taxpayer with no dependents. During...

Alternative Minimum Tax for Individuals Alex (age 35) is a single taxpayer with no dependents. During 2018, Alex earned a salary of $610,000. He also had the following income and expenses: Interest from State of New Hampshire bonds (private activity bond) $63,700 Interest from Primco corporate bonds $26,000 Medical Expenses (all expenses were unreimbursed) $79,500 Home mortgage interest $13,500 (the face value of the mortgage loan was $670,000) State Income Taxes $7,200 ...

Alexis, a single taxpayer, age 28, files a return for 2019. Information for the year includes...

Alexis, a single taxpayer, age 28, files a return for 2019. Information for the year includes the following: AGI of $100,000 -Paid $1,000 to a Qualified Charitable Organization - local high school, to attend a fund raising dinner. The value of the dinner was $100. -Made a donation to her church of $5,000 -Medical insurance of $11,000 (Alexis was NOT covered by a plan at work). -Dentist bills $4,000 Her itemized deductions are how much: (NOTE: do not include a...

In 2018, Madison is a single taxpayer who is 25 years of age. During 2018, she...

In 2018, Madison is a single taxpayer who is 25 years of age. During 2018, she contributed $3,000 to her employer sponsored 401(k) account. Her 2018 AGI was $67,500 (before considering IRA deductions). What is the maximum deductible contribution, if any, that Madison can make her to IRA?

Question