Question

Using 2018 1040 please answer: Zachary L. (SSN 123-45-6789) and Cici K. Mao (SSN 987-65-4321) reside at 520 Chestnut Street, Philadelphia, Pennsylvania 19106. They are both under 65 years old and have one dependent (their son, Oliver, age 4, SSN 111-22-3333). They do not wish to take advantage of the presidential election campaign check-off. Other relevant information includes:

Zachary’s salary as a manager: $40,000

Cici’s salary as a teacher: $45,000

Interest (First Nationalbank): $200

Withholding: $5600

Complete their Form 1040 for 2018, assuming they are married and file jointly

Answer 1

Total Income	85200
“Above-the-line” Deductions	0
Adjusted Gross Income (AGI)	85200
Less: standard deduction	(24000)
Taxable income	61200
Income Tax Liability (1905+(12%*(61200-19050)))	6963
Other Taxes	0
Total Tax	6963
Credit	(2000)
Prepayments	(5600)
Tax due or (refund)	(637)