Question

John R. Lane (SSN 111-44-6666) lives at 1010 Ipsen Street, Yorba Linda, California 90102. John, a single taxpayer, age 66, provided 60% of his cousin's support. The cousin lives in Arizona. He wants to take advantage of the presidential election campaign check- off. John was employed as an accountant before he retired during the year. Other relevant information includes Salary $50,000 Pension (all taxable) 41,000 Taxable interest income 240 Deductible contribution to IRA 5,500 Withholdings 12,100 John's itemized deductions total $11,000. Complete Form 1040 and Schedule 1 for 2018. Assume any estimated tax penalty is zero.

Answer 1

Page 1 Shower John R. Lane (SSN 111-44-6666] Lives At 1010 Ipsen street, yerba Linda California 90102 . - John, a single texpayer, age 66, 60% of his Cousin's support * Form 1040 .. Gross Income Salary of $50,000 pension of $ 41.000 sch B - Interest $ 81000 $ quo. $91240 . (-) 1 $55,00] $ 85,740 Adjestment [hote 1] Adjestment gross Income standard deduction ($129000+ $ 1600] o [ $ 13600] [OR]

page 2 Tenused deduction (# 11000) Taxable income $72140 $ 11807 () Credit with bold $ 12100 - Refund $293 Tare liabilty Hote 1 Schedule 1 Adde tion in come - Hil. Adjustment no Income 32 Ira deductions $5500. $ 55250