Brenda Peterson is single and lives at 567 East Street, Beantown, MA 02043. Her

Question

Brenda Peterson is single and lives at 567 East Street, Beantown, MA 02043. Her SSN is 412-34-5670. She worked the entire year for Applebee Consulting in Beantown. Her Form

W-2 contained information in the following boxes:

   

She also received two Forms 1099-INT. One was from First National Bank of Beantown and showed interest income of $537.39 in box 1. The other Form 1099-INT was from Baystate Savings and Loan and showed interest income of $281.70 in box 1.

Brenda had qualifying health care coverage at all times during the tax year.

Prepare a Form 1040EZ for Brenda. (Input all the values as positive numbers.)

Use the appropriate Tax Tables (2015)

  Wages (box 1) =   $61,292.05   Federal W/H (box 2) =   $ 9,318.12   Social security wages (box 3) = $61,292.05   Social security W/H (box 4) = $ 3,800.11   Medicare wages (box 5) = $61,292.05   Medicare W/H (box 6) = $     888.73 Brenda Peterson is single and lives at 567 East Street, Beantown, MA 02043. Her SSN is 412-34-5670. She worked the entire year for Applebee Consulting in Beantown. Her Form W-2 contained information in the following boxes: She also received two Forms 1099-INT. One was from First National Bank of Beantown and showed interest income of $537.39 in box 1. The other Form 1099-INT was from Baystate Savings and Loan and showed interest income of $281.70 in box 1. Brenda had qualifying health care coverage at all times during the tax year. Prepare a Form 1040EZ for Brenda. (Input all the values as positive numbers.) Use the appropriate Tax Tables (2015)

Explanation / Answer

a Form 1040EZ

First name = Brenda::::::::Last Name = Peterson:::::::SSN is 412-34-5670.

Home Address:567 East Street,

City:Beantown::: State:::MA::::::Pincode::::: 02043

Income:

1)Wages, salaries: $61,292.05

2)Interest Income=$819.09($537.39 + $281.70)

4)Adjust Gross Income ADD1 and 2=$62,111.14

5) No Claim Single =$10,150

6)subtract =$62,111.14 - $10,150=$51,961.14

Payments

7) Federal Withheld tax = $ 9,318.12

9) Total Payments = $ 9,318.12

10)Tax =$8783.63

12)total Tax =  $8783.63

Calculation for tax

for single upto 10% for $9,225=$922.50

for single upto 15% for $9,226 - $37,450=$4233.60

For Single upto 25% for $37,451 - $51,961.14(See 6th line)=$3,627.53

ADD: $922.50 +$4233.60 + =$3,627.53=$8783.63

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.