The actual 1040 form filled out.
Tax Return Problem Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, Santa Fe, NM 87501. Lance works for the convention bureau of the local Chamber of Commerce, while Wanda is employed part-time as a paralegal for a law firm.
During 2016, the Deans had the following receipts:
| Salaries ($60,000 for Lance, $41,000 for Wanda) | $101,000 | |
| Interest income— | ||
| City of Albuquerque general purpose bonds | $1,000 | |
| Ford Motor company bonds | 1,100 | |
| Ally Bank certificate of deposit | 400 | 2,500 |
| Child support payments from John Allen | 7,200 | |
| Annual gifts from parents | 26,000 | |
| Settlement from Roadrunner Touring Company | 90,000 | |
| Lottery winnings | 600 | |
| Federal income tax refund (for tax year 2015) | 400 | |
Wanda was previously married to John Allen. When they divorced several years ago, Wanda was awarded custody of their two children, Penny and Kyle. (Note: Wanda has never issued a Form 8332 waiver.) Under the divorce decree, John was obligated to pay alimony and child support—the alimony payments were to terminate if Wanda remarried.
In July, while going to lunch in downtown Santa Fe, Wanda was injured by a tour bus. As the driver was clearly at fault, the owner of the bus, Roadrunner Touring Company, paid her medical expenses (including a one-week stay in a hospital). To avoid a lawsuit, Roadrunner also transferred $90,000 to her in settlement of the personal injuries she sustained.
The Deans had the following expenditures for 2016:
| Medical expenses (not covered by insurance) | $7,200 | |
| Taxes— | ||
| Property taxes on personal residence | $3,600 | |
| State of New Mexico income tax (includes amount withheld from wages during 2016) | 4,200 | 7,800 |
| Interest on home mortgage (First National Bank) | 6,000 | |
| Paid church pledge | 3,600 | |
| Life insurance premiums (policy on Lance's life) | 1,200 | |
| Contribution to traditional IRA (on Wanda's behalf) | 5,000 | |
| Traffic fines | 300 | |
| Contribution to the reelection campaign fund of the mayor of Santa Fe | 500 | |
| Funeral expenses for Wayne Boyle | 6,300 | |
The life insurance policy was taken out by Lance several years ago and designates Wanda as the beneficiary. As a part-time employee, Wanda is excluded from coverage under her employer's pension plan. Consequently, she provides for her own retirement with a traditional IRA obtained at a local trust company. Because the mayor is a member of the local Chamber of Commerce, Lance felt compelled to make the political contribution.
The Deans' household includes the following, for whom they provide more than half of the support:
| Social Security Number | Birth Date | |
|---|---|---|
| Lance Dean (age 42) | 123-45-6786 | 12/16/1974 |
| Wanda Dean (age 40) | 123-45-6787 | 08/08/1976 |
| Penny Allen (age 19) | 123-45-6788 | 10/09/1997 |
| Kyle Allen (age 17) | 123-45-6789 | 05/03/1999 |
| Wayne Boyle (age 75) | 123-45-6785 | 06/15/1941 |
Penny graduated from high school on May 9, 2016, and is undecided about college. During 2016, she earned $8,500 (placed in a savings account) playing a harp in the lobby of a local hotel. Wayne is Wanda's widower father who died on January 20, 2016. For the past few years, Wayne qualified as a dependent of the Deans.
Federal income tax withheld is $5,200 (Lance) and $3,100 (Wanda). The proper amount of Social Security and Medicare tax was withheld.
Determine the Federal income tax for 2016 for the Deans on a joint return by completing the appropriate forms. They do not want to contribute to the Presidential Election Campaign Fund. All members of the family had health care coverage for all of 2016. If an overpayment results, it is to be refunded to them. Suggested software: H&R BLOCK Tax Software.
In: Accounting
Note: This problem is for the 2018 tax year.
Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, Santa Fe, NM 87501. Lance works for the convention bureau of the local Chamber of Commerce, while Wanda is employed part-time as a paralegal for a law firm.
During 2018, the Deans had the following receipts:
|
Wanda was previously married to John Allen. When they divorced several years ago, Wanda was awarded custody of their two children, Penny and Kyle. (Note: Wanda has never issued a Form 8332 waiver.) Under the divorce decree, John was obligated to pay alimony and child support—the alimony payments were to terminate if Wanda remarried.
In July, while going to lunch in downtown Santa Fe, Wanda was injured by a tour bus. As the driver was clearly at fault, the owner of the bus, Roadrunner Touring Company, paid her medical expenses (including a one-week stay in a hospital). To avoid a lawsuit, Roadrunner also transferred $90,000 to her in settlement of the personal injuries she sustained.
The Deans had the following expenditures for 2018:
|
The life insurance policy was taken out by Lance several years ago and designates Wanda as the beneficiary. As a part-time employee, Wanda is excluded from coverage under her employer's pension plan. Consequently, she provides for her own retirement with a traditional IRA obtained at a local trust company. Because the mayor is a member of the local Chamber of Commerce, Lance felt compelled to make the political contribution.
The Deans' household includes the following, for whom they provide more than half of the support:
|
Penny graduated from high school on May 9, 2018, and is undecided about college. During 2018, she earned $8,500 (placed in a savings account) playing a harp in the lobby of a local hotel. Wayne is Wanda's widower father who died on January 20, 2018. For the past few years, Wayne qualified as a dependent of the Deans.
Federal income tax withheld is $5,200 (Lance) and $2,100 (Wanda). The proper amount of Social Security and Medicare tax was withheld.
Required:
Determine the Federal income tax for 2018 for the Deans on a joint return by providing the following information that would appear on Form 1040 and Schedule A. They do not want to contribute to the Presidential Election Campaign Fund. All members of the family had health care coverage for all of 2018. If an overpayment results, it is to be refunded to them.
In: Accounting
In certain textile finishing processes, the moving strip is passed through a moistening chamber to be moistened and softened. The relative humidity in the chamber is maintained at a high level by air circulates. The system layout is illustrated in the figure shown below. A resistive hygrometer (humidity transducer) measures the relative humidity in the chamber.
The electronic circuit used to monitor the humidity transducer (hygrometer) output is shown in the figure below.
The resistive hygrometer is represented by resistor R3, which must be excited by an ac voltage (a dc current would chemically polarize the sensor over time). This transducer has resistance characteristics that vary exponentially with the relative humidity; important data for this textile processing application are as follows:
Relative Humidity Resistance, R3
50 % 35 kΩ
60 % 15 kΩ
70 % 7.5 kΩ
80 % 3.5 kΩ
90 % 2.0 kΩ
Description of the Situation and the Assumptions
1. Input transformer with 115-V (rms) input and a 10.0-V (rms) output (on secondary).
2. Resistance bridge with the humidity sensor R3 located in one branch.
3. Full-wave rectifier connects to the resistance bridge output, Vbridge
4. Capacitance C1 (with bleeder resistance R5) filters the diode-bridge output to dc.
5. Op amp circuit amplifies the input Vin (capacitor voltage) to an output Vout to be monitored.
Goal of the Design Project
Analyze the circuit operation for a range of relative humidity measurements (50% to 90%) to determine the circuit component requirements.
1. Input transformer
Determine the required transformer turns ratio N1/N2 and the maximum input rms current (in the primary windings) during the operation of measuring 50% to 90% humidity.
2. Resistance bridge
Determine the maximum rms voltage Vbridge (this occurs at 50% humidity measurement).
3. Diode bridge
Determine the maximum peak inverse voltage across each diode and the maximum forward current for each diode. These two values will help specify the what size diodes to use in the diode bridge. Assume 0.6 V drop across each conducting diode.
4. Filter capacitor
Determine the maximum dc voltage that will occur on the filter capacitor (this occurs at 50% humidity measurement). The capacitor used must be rated 50% greater than this maximum occurring voltage.
5. Output op amp voltage
Determine op amp output voltage for each humidity measurement: 50%, 60%, 70%, 80%, and 90%. List your results as sets of numbers; no need to plot the results.
In: Physics
Past records show that at a given college, 20% of the students who began as economics majors either changed their major or dropped out of school. An incoming class has 110 beginning economics majors. What is the probability that at most 30% of these students will leave the economics program?
In: Statistics and Probability
Students should select one of the steps in the accounting cycle (process) and explain what occurs in that step and the importance of what the accounting step is. For example, students may select the preparation of the adjusted trial balance and explain how it is prepared and why the adjusted trial balance is prepared.
In: Accounting
A survey of 200 college students showed the distribution of the number of hours of TV watched per week. The mean was found to be 3.66 hours with a standard deviation of 4.93. Assume the normal model is appropriate. Find the number of hours of TV watched by top 25% of college students.
In: Statistics and Probability
A research center estimates that no more than 30% of college students eat breakfast every day. In a random sample of 250 college students say, half of the sample say they eat breakfast every day. At α=0.05, is there enough evidence to reject the researcher's claim?
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University students spend lots of money on fast food. You are asked to forecast how much money those students spend on fast food each week. What is/are the dependent variable which you should consider in your analysis? What are the independent variables?
In: Accounting
"Students employ an existing software framework to develop solutions to problems covering particular aspects of robotics application development. In the process students will apply appropriate test and validation procedures in simulation and real environments to develop robust application solutions."
I need ideas for this question
In: Physics
A random sample of 64 students at a university showed an average age of 20 years and a sample standard deviation of 4 years. The 90% confidence interval for the true average age of all students in the university is
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19.50 to 20.50 |
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19.36 to 20.38 |
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19.18 to 20.49 |
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19.02 to 20.59 |
In: Statistics and Probability