Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. matt barnes, s.s. # 255-11-7860, a 66-year old unm

Matt Barnes, S.S. # 255-11-7860, a 66-year old unmarried taxpayer, lives at 2750...

60.1K

Verified Solution

Question

Accounting

Matt Barnes, S.S. # 255-11-7860, a 66-year old unmarried taxpayer, lives at 2750 Lancaster Rd, Lawrenceville, GA 30043. During 2023, Matt worked as a supervisor for Bob's Sporting Goods, Inc.
His W-2 for 2023 shows the following amounts:
Taxable Gross Wages: $65,000
Federal Income Tax Withheld $9,100
Matt has taxable interest income from Wells Fargo of $4,500 and Sun Trust Bank of $3,300.
Matt also has ordinary and qualified dividends from Wells Fargo of $1,200.
Matt has a 401(k) plan through his employer. Matt contributed $20,000 to the company's 401(k) plan during 2023.
Matt also contributed $7,500 to his Traditional IRA on May 24,2023. Matt' basis in his IRA fo prior nondeductible contributions is $23,050.
COMPLETE FORM 1040, SCHEDULE B, QUALIFIED DIVIDEND WORKSHEET, THE IRA WORKSHEET, AND FORM 8606 FOR MATT FOR 2023
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

YOU MUST SHOW ALL WORK (CALCUATIONS) AND DRAW TIME LINES. WRITE WITH THE CORRECT FORMULA TO...

Chemistry
1.2K views

Spell your name using capital letters. If there are letters in your name that do not...

Physics
1.2K views

is about optic physics. please make all the math. make a draw for more ilustrative solution. please use...

Economics
1.2K views

Perfect competition and monopoly are the two extremes of market structures. Discuss the difference between the markets. Analyze...

Advance Math
1.2K views

Prove or disprove. (If a proof seems difficult to finish, at least tell what you tried,...

Geometry
1.2K views

What is the volume of this triangular pyramid 6 ft 5 ft 10 ft cubic...

Statistics
1.2K views

A local group claims that the police issue more than 60 speeding tickets a day...

Algebra
1.2K views

What is the exact angle measure in radians 420 OT

Accounting
1.2K views

In each of the following situations, indicate whether Walters. CPA is...

Accounting
1.2K views

Presented below is information related to Concord Company. \table[[,Cost,Retail],[Beginning inventory,$290,370,$282,000

Accounting
1.2K views

Select the alternative which best completes the following sentence: Fees for non-executive directors...

Accounting
1.2K views

1.) Sam Baker signs a contract with Pit Company to purchase a gas fireplace unit....