Reba Dixon is a fifth-grade school teacher who earned a salary of $38,000 in 2021...
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Reba Dixon is a fifth-grade school teacher who earned a salary of $38,000 in 2021 . She is 45 years old and has been divorced for four years. She receives $1,200 of alimony payments each month from her former husband (divorced in 2016). Reba also rents out a small apartment building. This year Reba received $50,000 of rental payments from tenants and she incurred $19,500 of expenses associated with the rental. Reba and her daughter Heather ( 20 years old at the end of the year) moved to Georgia in January of this year. Reba provides more than one-half of Heather's support. They had been living in Colorado for the past 15 years, but ever since her divorce, Reba has been wanting to move back to Georgia to be closer to her family. Luckily, last December, a teaching position opened up and Reba and Heather decided to make the move. Reba paid a moving company $2,010 to move their personal belongings, and she and Heather spent two days driving the 1,426 miles to Georgia. Reba rented a home in Georgia. Heather decided to continue living at home with her mom, but she started attending school full-time in January and throughout the rest of the year at a nearby university. She was awarded a $3,000 partial tuition scholarship this year, and Reba helped out by paying the remaining $500 tuition cost. If possible, Reba thought it would be best to claim the education credit for these expenses. Reba wasn't sure if she would have enough items to help her benefit from itemizing on her tax return. However, she kept track of several expenses this year that she thought might qualify if she was able to itemize. Reba paid $5,800 in state income taxes and $12,500 in charitable contributions during the year. She also paid the following medical-related expenses for herself and Heather: Shortly after the move, Reba got distracted while driving and she ran into a street sign. The accident caused $900 in damage to the car and gave her whiplash. Because the repairs were less than her insurance deductible, she paid the entire cost of the repairs. Reba wasn't able to work for two months after the accident. Fortunately, she received $2,000 from her disability insurance. Her employer, the Central Georgia School District, paid 60 percent of the premiums on the policy as a nontaxable fringe benefit and Reba paid the remaining 40 percent portion. A few years ago, Reba acquired several investments with her portion of the divorce settlement. This year she reported the following income from her investments: $2,200 of interest income from corporate bonds and $1,500 interest the following income from her investments: $2,200 of interest income from corporate bonds and $1,500 interest income from City of Denver municipal bonds. Overall, Reba's stock portfolio appreciated by $12,000, but she did not sell any of her stocks. Heather reported $6,200 of interest income from corporate bonds she received as gifts from her father over the last several years. This was Heather's only source of income for the year. Reba had $10,000 of federal income taxes withheid by her employer. Heather made $1,000 of estimated tax payments during the year. Reba did not make any estimated payments. Assume Reba recelved the correct advance payment for her 2021 individual recovery credit. Using the information from part a-1, Complete pages 1 and 2, Schedule 1, and Schedule 3 of Form 1040 for Reba. Reba Dixon's address is 19010 N.W. 135th Street, Lawrenceville, GA 30043. Social security numbers: Reba Dixon: 111-11-1111 Heather Dixon: 222-22-2222 (Assume all taxpayers did NOT receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currenc) during the year. Input all the values as positive numbers. Use 2021 tax rules regardless of year on tax form. Round your intermediate computations and final answers to the nearest whole dollar amount.) THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. [1) 2021 McGraw-Hill Education. Form 1040 Page 1 and 2 . Form 1040 (2020) Page 2 17 Amount from Schedule 2, line 3 18 Add lines 16 and 17 . 19 Child tax credit or credit for other dependents 20 Amount from Schedule 3 , line 7 21 Add lines 19 and 20 22 Subtract line 21 from line 18 . if zero or less, enter -023 Other taxes, including selfemployment tax, from Schedule 2. line 10 24 Add lines 22 and 23 . This is your total tax 25 Federal income tax withheld from: a Form(s) W-2 b Form(s) 1099 c Other forms (see instructions) d Add lines 25a through 25c - If you have 262020 estimated tax payments a qualifying child, attach \begin{tabular}{l|l} child, attach & and amount applied from 2019 \\ Sch. EIC & 27 Earned income credit (EIC) \\ - If you have & 28 Additional child tax credit. Attach \\ nontaxable & Schedule 8812 \\ combat pay. & 29 American opportunity credit from Form \\ see & 8863 . line 8. \end{tabular} see 8863, line 8 . instructions. 30 Recovery rebate credit. See instructions 31 Amount from Schedule 3, line 13 32 Add lines 27 through 31 . These are your total other payments and refundable credits 33 Add lines 25d,26, and 32 . These are your total Reba Dixon is a fifth-grade school teacher who earned a salary of $38,000 in 2021 . She is 45 years old and has been divorced for four years. She receives $1,200 of alimony payments each month from her former husband (divorced in 2016). Reba also rents out a small apartment building. This year Reba received $50,000 of rental payments from tenants and she incurred $19,500 of expenses associated with the rental. Reba and her daughter Heather ( 20 years old at the end of the year) moved to Georgia in January of this year. Reba provides more than one-half of Heather's support. They had been living in Colorado for the past 15 years, but ever since her divorce, Reba has been wanting to move back to Georgia to be closer to her family. Luckily, last December, a teaching position opened up and Reba and Heather decided to make the move. Reba paid a moving company $2,010 to move their personal belongings, and she and Heather spent two days driving the 1,426 miles to Georgia. Reba rented a home in Georgia. Heather decided to continue living at home with her mom, but she started attending school full-time in January and throughout the rest of the year at a nearby university. She was awarded a $3,000 partial tuition scholarship this year, and Reba helped out by paying the remaining $500 tuition cost. If possible, Reba thought it would be best to claim the education credit for these expenses. Reba wasn't sure if she would have enough items to help her benefit from itemizing on her tax return. However, she kept track of several expenses this year that she thought might qualify if she was able to itemize. Reba paid $5,800 in state income taxes and $12,500 in charitable contributions during the year. She also paid the following medical-related expenses for herself and Heather: Shortly after the move, Reba got distracted while driving and she ran into a street sign. The accident caused $900 in damage to the car and gave her whiplash. Because the repairs were less than her insurance deductible, she paid the entire cost of the repairs. Reba wasn't able to work for two months after the accident. Fortunately, she received $2,000 from her disability insurance. Her employer, the Central Georgia School District, paid 60 percent of the premiums on the policy as a nontaxable fringe benefit and Reba paid the remaining 40 percent portion. A few years ago, Reba acquired several investments with her portion of the divorce settlement. This year she reported the following income from her investments: $2,200 of interest income from corporate bonds and $1,500 interest the following income from her investments: $2,200 of interest income from corporate bonds and $1,500 interest income from City of Denver municipal bonds. Overall, Reba's stock portfolio appreciated by $12,000, but she did not sell any of her stocks. Heather reported $6,200 of interest income from corporate bonds she received as gifts from her father over the last several years. This was Heather's only source of income for the year. Reba had $10,000 of federal income taxes withheid by her employer. Heather made $1,000 of estimated tax payments during the year. Reba did not make any estimated payments. Assume Reba recelved the correct advance payment for her 2021 individual recovery credit. Using the information from part a-1, Complete pages 1 and 2, Schedule 1, and Schedule 3 of Form 1040 for Reba. Reba Dixon's address is 19010 N.W. 135th Street, Lawrenceville, GA 30043. Social security numbers: Reba Dixon: 111-11-1111 Heather Dixon: 222-22-2222 (Assume all taxpayers did NOT receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currenc) during the year. Input all the values as positive numbers. Use 2021 tax rules regardless of year on tax form. Round your intermediate computations and final answers to the nearest whole dollar amount.) THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. [1) 2021 McGraw-Hill Education. Form 1040 Page 1 and 2 . Form 1040 (2020) Page 2 17 Amount from Schedule 2, line 3 18 Add lines 16 and 17 . 19 Child tax credit or credit for other dependents 20 Amount from Schedule 3 , line 7 21 Add lines 19 and 20 22 Subtract line 21 from line 18 . if zero or less, enter -023 Other taxes, including selfemployment tax, from Schedule 2. line 10 24 Add lines 22 and 23 . This is your total tax 25 Federal income tax withheld from: a Form(s) W-2 b Form(s) 1099 c Other forms (see instructions) d Add lines 25a through 25c - If you have 262020 estimated tax payments a qualifying child, attach \begin{tabular}{l|l} child, attach & and amount applied from 2019 \\ Sch. EIC & 27 Earned income credit (EIC) \\ - If you have & 28 Additional child tax credit. Attach \\ nontaxable & Schedule 8812 \\ combat pay. & 29 American opportunity credit from Form \\ see & 8863 . line 8. \end{tabular} see 8863, line 8 . instructions. 30 Recovery rebate credit. See instructions 31 Amount from Schedule 3, line 13 32 Add lines 27 through 31 . These are your total other payments and refundable credits 33 Add lines 25d,26, and 32 . These are your total




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