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 Lancaster Rd,...

70.2K

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