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Accounting

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Interview Notes - Noah, age 65, and Ela, age 54, are married. They elect to file Married Filing Jointly. - Their son Leo is 23 years old and a full-time college student in his third year of study. He is pursuing a degree in Business Administration and does not have a felony drug conviction. His 2018 Form 1098 -T did not have an amount entered in box 2 . - Their son Freddie is 26 years old and graduated from college in June 2019. He had a part-time job where he eamed $7,000 in 2019. - Noah and Ella paid more than half the cost of maintaining a home and provided over half the support for both Leo and Froddie. - Noah rebired in 2019 and received interest income, Social Security benefits, and wages from a part-time job. - Ella received disabilty pension benefits, She has not reached minimum retirement age. - Noah and Ella made estimated tax payments of $500 for 2019. - Noah and Ella do not have enough deductions to itemize. - Leo received a scholarship and the terms require that it be used to pay tuition. Noah and Ella paid the cost of Leo's tuition and course-related books in 2019 not covered by scholarship. They paid $75 for a school sweatshirt for homecoming and $4,500 for a meal plan. - If Noah and Ella receive a refund, they would like to deposit haif into their checking account and haif into their savings account. Documents from County Bank show that the routing number for both accounts is: 111000025 . Their checking account number is 987654321 and their savings account number is 234567890. Additional information and Questions Related to the Preparation of Your Return 1. Provide an omall address (optional) (this binal address will not be used for contacts from the internal Rovenue Service) 2. President al Elocton Campaign Fund (If you check a box, your tax or rofund will not change) Chock here if you, or your spouse if filleg ipintly, want 53 to go to this furnd I You Spouse 2. If you are tue a refund, wondd you like: a. Diect deoosil b. To purchase U.8. Oinings Bonds c. To oplt your sefund betueen diferent acoounts 4. If you have a balance due, would you like ta make a payment directy from your bark account? Ko Yns 5. Live in an aree that was declared a Federal disaster area? [J Yes W No If yes. ahere? 6. Did you, or your spouse if filing jointy, receive a lecter fom the IRS? L. Yes K No Many free tax preparation sites operate by receiving grant money or other federal financial assistance. The data from the following questions may be used by this site to apply for these grants or to support continued receipt of financial funding. Your answer will be used only for statistical purposes. These questions are optional. 7. Would you say you can carty on a conversation in English, both understanding 8 speaking? X Very well Weil Not wel Not at at Prefer not to answer 8. Would you say you can read a nevspaper or bock in English? X Very well Well Nok well Not at all Prefer not to answer Q. Do you or any meniber of your household have a disability? 10. Are you or your soovse a Veteran from the U. S. Acmed Forcus? \% Yes - Prefer not bo answer 11. Your ruce? Yes No Prefer not to answer Anerican lnchan or Alaska Nulive Asin While 8 Preler not to anwwer 12. Your spouse s race? American incian or Alaska Native Asian Elack or Afocan American Nathe Hawailan or other Padio isiancer Whie 8 Preler noe to answer. 13. Your ethnioly? Hispanic or Latino Noc Hispanic or Latino Xy. Prefer not to ansver 14. Your spouse's ethnicity? Hispanic or Lativo Noc Hiscanic er Latino 8 Pvefer not to ansver Adcitional commons Privacy Act and Paperwork Reduction Act Notce FORM SSA-1099 - SOCIAL SECURITY BENEFIT STATEMENT Buckeye College College Books 580 College Blvd Your City, State ZIP \begin{tabular}{l} Buckeye College Student Housing \\ 575 College Blvd. \\ Your City, State ZIP \\ Received from: \\ Leo Neumann \\ $4,500 \\ \hline \end{tabular} Receipt: 3 Textbooks: $500 Sweatshirt: $75 Payment for books is also on the college website. 14. Ella's disability pension is reported as wages and considered earned income for the purposes of the earned income tax credit. a. True b. False 15. Amounts paid for room and board and meal plan are qualified education expenses for claiming the American opportunity credit. a. True b. False 16. How much of Noah's Social Security is taxable? a. $0 b. $6,851 c. $2,175 d. $31,000 17. What is the amount of Noah and Ella's standard deduction? \$ 18. Which of the following items are included in the total payments on Noah and Ella's tax return? a. Federal income tax withheld from Forms W2 and 1099 b. $500 estimated tax payment c. Refundable credits d. All of the above 19. Leo and Freddie are dependents on Noah and Ella's 2019 tax return. a. True b. False Interview Notes - Noah, age 65, and Ela, age 54, are married. They elect to file Married Filing Jointly. - Their son Leo is 23 years old and a full-time college student in his third year of study. He is pursuing a degree in Business Administration and does not have a felony drug conviction. His 2018 Form 1098 -T did not have an amount entered in box 2 . - Their son Freddie is 26 years old and graduated from college in June 2019. He had a part-time job where he eamed $7,000 in 2019. - Noah and Ella paid more than half the cost of maintaining a home and provided over half the support for both Leo and Froddie. - Noah rebired in 2019 and received interest income, Social Security benefits, and wages from a part-time job. - Ella received disabilty pension benefits, She has not reached minimum retirement age. - Noah and Ella made estimated tax payments of $500 for 2019. - Noah and Ella do not have enough deductions to itemize. - Leo received a scholarship and the terms require that it be used to pay tuition. Noah and Ella paid the cost of Leo's tuition and course-related books in 2019 not covered by scholarship. They paid $75 for a school sweatshirt for homecoming and $4,500 for a meal plan. - If Noah and Ella receive a refund, they would like to deposit haif into their checking account and haif into their savings account. Documents from County Bank show that the routing number for both accounts is: 111000025 . Their checking account number is 987654321 and their savings account number is 234567890. Additional information and Questions Related to the Preparation of Your Return 1. Provide an omall address (optional) (this binal address will not be used for contacts from the internal Rovenue Service) 2. President al Elocton Campaign Fund (If you check a box, your tax or rofund will not change) Chock here if you, or your spouse if filleg ipintly, want 53 to go to this furnd I You Spouse 2. If you are tue a refund, wondd you like: a. Diect deoosil b. To purchase U.8. Oinings Bonds c. To oplt your sefund betueen diferent acoounts 4. If you have a balance due, would you like ta make a payment directy from your bark account? Ko Yns 5. Live in an aree that was declared a Federal disaster area? [J Yes W No If yes. ahere? 6. Did you, or your spouse if filing jointy, receive a lecter fom the IRS? L. Yes K No Many free tax preparation sites operate by receiving grant money or other federal financial assistance. The data from the following questions may be used by this site to apply for these grants or to support continued receipt of financial funding. Your answer will be used only for statistical purposes. These questions are optional. 7. Would you say you can carty on a conversation in English, both understanding 8 speaking? X Very well Weil Not wel Not at at Prefer not to answer 8. Would you say you can read a nevspaper or bock in English? X Very well Well Nok well Not at all Prefer not to answer Q. Do you or any meniber of your household have a disability? 10. Are you or your soovse a Veteran from the U. S. Acmed Forcus? \% Yes - Prefer not bo answer 11. Your ruce? Yes No Prefer not to answer Anerican lnchan or Alaska Nulive Asin While 8 Preler not to anwwer 12. Your spouse s race? American incian or Alaska Native Asian Elack or Afocan American Nathe Hawailan or other Padio isiancer Whie 8 Preler noe to answer. 13. Your ethnioly? Hispanic or Latino Noc Hispanic or Latino Xy. Prefer not to ansver 14. Your spouse's ethnicity? Hispanic or Lativo Noc Hiscanic er Latino 8 Pvefer not to ansver Adcitional commons Privacy Act and Paperwork Reduction Act Notce FORM SSA-1099 - SOCIAL SECURITY BENEFIT STATEMENT Buckeye College College Books 580 College Blvd Your City, State ZIP \begin{tabular}{l} Buckeye College Student Housing \\ 575 College Blvd. \\ Your City, State ZIP \\ Received from: \\ Leo Neumann \\ $4,500 \\ \hline \end{tabular} Receipt: 3 Textbooks: $500 Sweatshirt: $75 Payment for books is also on the college website. 14. Ella's disability pension is reported as wages and considered earned income for the purposes of the earned income tax credit. a. True b. False 15. Amounts paid for room and board and meal plan are qualified education expenses for claiming the American opportunity credit. a. True b. False 16. How much of Noah's Social Security is taxable? a. $0 b. $6,851 c. $2,175 d. $31,000 17. What is the amount of Noah and Ella's standard deduction? \$ 18. Which of the following items are included in the total payments on Noah and Ella's tax return? a. Federal income tax withheld from Forms W2 and 1099 b. $500 estimated tax payment c. Refundable credits d. All of the above 19. Leo and Freddie are dependents on Noah and Ella's 2019 tax return. a. True b. False

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