John and Sandy Ferguson got married eight years ago and have a seven-year-old daughter, Samantha. In 2019, John worked as a computer technician at a local university earning a salary of $152,000, and Sandy worked part-time as a receptionist for a law firm earning a salary of $29,000. John also does some Web design work on the side and reported revenues of $4,000 and associated expenses of $750. John’s business is not a specified business for the purpose of QBI deduction. The Fergusons received $800 in qualified dividends and a $200 refund of their state income taxes. The Fergusons always itemize their deductions and their itemized deductions were well over the standard deduction amount last year. The Fergusons had qualifying insurance for purposes of the Affordable Care Act (ACA). Use Exhibit 8-9, Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. The Fergusons reported making the following payments during the year: State income taxes of $4,400. Federal tax withholding of $21,000. Alimony payments to John’s former wife of $10,000 (divorced in 2014).
Child support payments for John’s child with his former wife of $4,100. $12,200 of real property taxes. Sandy was reimbursed $600 for employee business expenses she incurred. She was required to provide documentation for her expenses to her employer. $3,600 to Kid Care day care center for Samantha’s care while John and Sandy worked. $14,000 interest on their home mortgage ($400,000 acquisition debt). $3,000 interest on a $40,000 home-equity loan. They used the loan to pay for a family vacation and new car. $15,000 cash charitable contributions to qualified charities. Donation of used furniture to Goodwill. The furniture had a fair market value of $400 and cost $2,000. rev: 10_30_2019_QC_CS-188424 Comprehensive Problem 8-85 Part b and c Complete pages 1 and 2, Schedule 1, Schedule 3, and Schedule 4 of Form 1040 and Form 6251 for John and Sandy. John and Sandy Ferguson’s address is 19010 N.W. 135th Street, Miami, FL 33054. Social security numbers: John (DOB 11/07/1970): 111-11-1111 Sandy (DOB 6/24/1972): 222-22-2222 Samantha (DOB 9/30/2016): 333-33-3333 Alimony recipient: 555-55-5555 (Input all the values as positive numbers. Round your intermediate calculations and final answers to the nearest whole dollar. Use 2019 tax rules regardless of year on tax form.)
Get Finance homework help today
We aim at 100% customer satisfaction. As such, we never compromise on the quality of our assignment services. Our homework helpers craft each paper carefully to match the requirements on the instruction form.
We receive many applications from writers around the world daily. Nevertheless, we only choose the cream of the crop to tackle your “help with homework” requests. Hence, our homework helpers are highly-qualified individuals who maintain our quality policy.
We maintain a fair pricing policy for all our homework help services. Our pricing system generates quotations based on the requirements of each paper.
At My Homework Writers, we guarantee all students swift delivery of their assignments. We understand that time is an essential factor in the academic world. We, therefore, ensure that all assignments are delivered on or before the agreed deadline.
We maintain a zero-plagiarism policy in all our essay papers. Our assignment writers stick to the students’ instructions to deliver plagiarism-free papers. We are also keen to avoid any chance of similarities with previously written papers.
We understand that you might run into trouble once in a while when working with our system. In the event that you do run into trouble, please get in touch with our support agents and they will immediately provide you with assistance.
Feel free to contact us via the Chat window or email: support@myhomeworkwriters.com.
Follow these simple steps to get your homework done
Fill in the order form and provide all details of your assignment.
Choose the payment system that suits you most.
You will be able to track the progress of your paper from our system.
Once your paper is ready, we will email it to you.
Myhomeworkwriters website holds a reputation for providing high-quality assignment writing services. You only need to give us all the requirements for your “do my homework” order, and our homework paper writers will give you the best results.
We have highly qualified essay writers to assist you whenever you place in "help with my homework" order. Our essay writing service is designed to help students get good grades.
Our admission essay writing help will assist you to secure a position at your desired learning institution. We will help you craft a top-notch personal statement paper. Our writers who know how to write a college admission essay will help you get the college admission you are longing for.
Our team of professional editors will help you organize your paper, paraphrase it, and eliminate any possible mistakes. Also, we will help you check on plagiarism to ensure that your final paper possesses quality and originality.
My homeworkwriters harbors specialists who can handle your technical papers order. Our “write my homework” services cover all academic areas you can think of. The simplicity or complexity of the paper does not affect the quality of assignment writing services.