Overview
This assignment requires you to complete four tax forms (Form 1040, Schedule 1, Schedule B, and Qualified Dividends and Capital Gain Tax Worksheet, using the provided taxpayer information. The forms provided are for tax year 2023 (please disregard 2021 date on W2, 1099-INT, and 1099-DIV). Read the information (W2, 1099-INT, and 1099-DIV)
Incorporate the child tax credit, if it applies; however, Form 8812 is not required.
Complete Schedule B first, then Schedule 1, then Form 1040 down through Line 15. Next, complete the QualDiv worksheet and use that information to complete the rest of the Form 1040
This is the background information:
Alexander Smith and his wife Allison are married and will file a joint tax return for 2023. The Smiths live at 1234 Buena Vista Drive, Orlando, FL 32830. Alexander is a commuter airline pilot but took 6 months off from his job in 2023 to obtain a higher-level pilot's license. The Smiths have an 18-year-old son, Brad, who is enrolled in twelfth grade at the Walt Disney Prep School. The Smiths also have a 19-year-old daughter, Angelina, who is a part-time first-year student at Orange County Community College (OCCC). Angelina is married to Sean Shirker, who is 19 years old and also a part-time student at OCCC. Sean and Angelina have a 1-year-old child, Trask (Social Security number 115-45-7893). All the Shirkers live in an apartment near the Smiths. Angelina and Sean both also work part-time for Sean's wealthy grandfather as apprentices in his business. The Shirker's wages for the year were $50,000 which allowed them to pay all the personal expenses for themselves and Trask. Five years ago, Alexander divorced Jennifer Amistad (Social Security number 341-55-6789). Alexander pays Jennifer $200 per month in alimony under the divorce decree.
|
Name |
Social Security number |
Date of birth |
|
Alexander Smith |
266-15-1966 |
09/22/1970 |
|
Allison Smith |
266-34-1967 |
07/01/1971 |
|
Brad Smith |
261-55-2121 |
12/21/2005 |
|
Angelina Shirker |
261-45-1212 |
03/31/2004 |
|
Sean Shirker |
546-78-1235 |
05/01/2004 |
|
Trask Shirker |
115-45-7893 |
10/21/2021 |