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Answers how to fill out Form 1040, Schedules A, B, C and For

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Answers to Income tax accounting questions: Answers how to fill out personal income tax Form 1040, Schedules A, B, C and Form 2441.

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Answers how to fill out personal income tax Form 1040, Schedules A, B, C and Form 2441.

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It would be best that you download Form 1040, Schedules A, B, C and Form 2441 from the IRS' website irs.gov and plug in the numbers line by line. This would answer question part one.
<br><br>
<br><br>Income:
<br><br>line 7: $94,000 + $45,000 + $1,500 (Mary's bonus)
<br><br>line 8: $2,100
<br><br>line 9: $900 + $400
<br><br>line 12: -$6,000 (business loss from Schedule C)
<br><br>line 22 Total: total income
<br><br>
<br><br>Adjusted Gross Income:
<br><br>line 33: $36,000
<br><br>line 35: subtract line 33 from line 22: Total adjusted income (write amount on line 36)
<br><br>
<br><br>Taxes and Credits:
<br><br>line 38: Add up all itemized deductions from schedule A (see my previous answer)
<br><br>line 39: subtract line 38 from line 36
<br><br>line 40: is line 36 $103,000 or less? (Yes), then put here $3,000 X the number of exemptions for the family (2 from line 6 - Exemptions)
<br><br>line 41: subtract the $6,000 (from line 40) from line 39
<br><br>line 42: go to the tax schedules and find the line for the income amount shown on line 41. Go across the line to find the amount under "married, ...

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