Tax Return 1 (DUE March 19th)
Margret Delonge is a single Retiree. She has come to you to prepare her 2018 individual Tax return. Below is the personal and income information she provided.
Personal Information:
Name : Margret Delonge
Birthday: June 26,1947
SS#:182-11-1994
Address: 182 Cheshire CT
City/State/Zip : Barker, TX77413
Occupation: Retired
Income:
Social Security Benefits: $9600
Intrest:
Raynor State Bank: $2040
Finn Credit Union: $500
City of Barker savings Bond: $576
MCA National: $1100
Wages:
Frosty World, INC - $12000
Federal Tax Withheld : $156
Annuity Payments:
Spalding Boomer & Travis :
Totalof 2018 monthly payments : $5400
Initial investment: $81343
Total Years: 20 Years
Please prepare Margrets 2018 Tax return. Include a cover short cover letter explaining her return. (1/2 to 1 Pg). Attach any calculations made outside the return.
Due the Beginning of class Wednesday March, 19th
Form 1040
https://www.irs.gov/pub/irs-pdf/f1040.pdf
Irs1040 instructions
https://www.irs.gov/pub/irs-pdf/i1040gi.pdf
2018 Form 1040 Fo rm 1040 Department of the Treasury—Internal Revenue Service U.S. Individual Income Tax Return 2018 OMB No. 1545-0074 IRS Use Only—Do not write or staple in this space. (99) Filing status: Single Married filing jointly Married filing separately Head of household Qualifying widow(er) Your first name and initial Last name Your social security number Your standard deduction: Someone can claim you as a dependent You were born before January 2, 1954 You are blind If joint return, spouse's first name and initial Last name Spouse’s social security number Spouse standard deduction: Someone can claim your spouse as a dependent Spouse was born before January 2, 1954 Spouse is blind Spouse itemizes on a separate return or you were dual-status alien Home address (number and street). If you have a P.O. box, see instructions. Apt. no. City, town or post office, state, and ZIP code. If you have a foreign address, attach Schedule 6. Full-year health care coverage or exempt (see inst.) Presidential Election Campaign (see inst.) You Spouse If more than four dependents, see inst. and ✓ here ▶ Dependents (see instructions): (2) Social security number (3) Relationship to you (4) ✓ if qualifies for (see inst.): (1) First name Last name Child tax credit Credit for other dependents Sign Here Joint return? See instructions. Keep a copy for your records. Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. ▲ Your signature Date Your occupation If the IRS sent you an Identity Protection PIN, enter it here (see inst.) Spouse’s signature. If a joint return, both must sign. Date Spouse’s occupation If the IRS sent you an Identity Protection PIN, enter it here (see inst.) Paid Preparer Use Only Preparer’s name Preparer’s signature PTIN Firm’s EIN Firm’s name ▶ Phone no. Check if: 3rd Party Designee Self-employed Firm’s address ▶ For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Cat. No. 11320B Form 1040 (2018) Form 1040 (2018) Page 2 Attach Form(s) W-2. Also attach Form(s) W-2G and 1099-R if tax was withheld. 1 Wages, salaries, tips, etc. Attach Form(s) W-2 . . . . . . . . . . . . . . . . 1 2a Tax-exempt interest . . . 2a b Taxable interest . . . 2b 3a Qualified dividends . . . 3a b Ordinary dividends . . 3b 4a IRAs, pensions, and annuities . 4a b Taxable amount . . . 4b 5a Social security benefits . . 5a b Taxable amount . . . 5b 6 Total income. Add lines 1 through 5. Add any amount from Schedule 1, line 22 . . . . . 6 7 Adjusted gross income. If you have no adjustments to income, enter the amount from line 6; otherwise, subtract Schedule 1, line 36, from line 6 . . . . . . . . . . . . . . . . . 7Standard Deduction for— • Single or married filing separately, $12,000 • Married filing jointly or Qualifying widow(er), $24,000 • Head of household, $18,000 • If you checked any box under Standard deduction, see instructions. 8 Standard deduction or itemized deductions (from Schedule A) . . . . . . . . . . . . 8 9 Qualified business income deduction (see instructions) . . . . . . . . . . . . . . 9 10 Taxable income. Subtract lines 8 and 9 from line 7. If zero or less, enter -0- . . . . . . . . 10 11 a Tax (see inst.) (check if any from: 1 Form(s) 8814 2 Form 4972 3 b Add any amount from Schedule 2 and check here . . . . . . . . . . . . ▶ ) 11 12 a Child tax credit/credit for other dependents b Add any amount from Schedule 3 and check here ▶ 12 13 Subtract line 12 from line 11. If zero or less, enter -0- . . . . . . . . . . . . . . 13 14 Other taxes. Attach Schedule 4 . . . . . . . . . . . . . . . . . . . . 14 15 Total tax. Add lines 13 and 14 . . . . . . . . . . . . . . . . . . . . 15 16 Federal income tax withheld from Forms W-2 and 1099 . . . . . . . . . . . . . 16 17 Refundable credits: a EIC (see inst.) b Sch. 8812 c Form 8863 Add any amount from Schedule 5 . . . . . . . . . . . . . . 17 18 Add lines 16 and 17. These are your total payments . . . . . . . . . . . . . . 18 Refund Direct deposit? See instructions. 19 If line 18 is more than line 15, subtract line 15 from line 18. This is the amount you overpaid . . . . 19 20a Amount of line 19 you want refunded to you. If Form 8888 is attached, check here . . . . ▶ 20a ▶ b Routing number ▶ c Type: Checking Savings ▶ d Account number 21 Amount of line 19 you want applied to your 2019 estimated tax . . ▶ 21 Amount You Owe 22 Amount you owe. Subtract line 18 from line 15. For details on how to pay, see instructions . . . ▶ 22 23 Estimated tax penalty (see instructions) . . . . . . . . ▶ 23 Go to www.irs.gov/Form1040 for instructions and the latest information. Form 1040 (2018) Version H, Cycle 9 INTERNAL USE ONLY DRAFT AS OF October 17, 2018 Version H, Cycle 9 INTERNAL USE ONLY DRAFT AS OF October 17, 2018 2018 Form 1040 SE:W:CAR:MP U.S. Individual Income Tax Return Form 1040 Department of the Treasury—Internal Revenue Service U.S. Individual Income Tax Return 2018 2018. Catalog Number 11320B. OMB No. 1545-0074 O M B No. 1545-0074. For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. IRS Use Only—Do not write or staple in this space. (99) Filing status: Single Married filing jointly Married filing separately Head of household Qualifying widow(er) Your standard deduction: Someone can claim you as a dependent You were born before January 2, 1954 You are blind Spouse standard deduction: Someone can claim your spouse as a dependent Spouse was born before January 2, 1954 Spouse is blind Spouse itemizes on a separate return or you were dual-status alien Full-year health care coverage or exempt (see inst.) Presidential Election Campaign(see inst.) If more than four dependents, see inst. and ✓ here ▶ Dependents (see instructions): (2) Social security number (3) Relationship to you (4) ✓ if qualifies for (see inst.): (1) First name Last name Dependents (see instructions): (1) First name. Last name. (2) Social security number. (3) Relationship to you. Child tax credit (4) ✓ if qualifies for (see inst.): Child tax credit. Credit for other dependents (4) ✓ if qualifies for (see inst.): Credit for other dependents. Sign Here Joint return? See instructions. Keep a copy for your records. Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. ▲ Your signature Date If the IRS sent you an Identity Protection PIN, enter it here (see inst.) Spouse’s signature. If a joint return, both must sign. Date If the IRS sent you an Identity Protection PIN, enter it here (see inst.) Paid Preparer Use Only Preparer’s signature Check if: For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Cat. No. 11320B Form 1040 (2018) Form 1040 (2018) Page 2 Attach Form(s) W-2. Also attach Form(s) W-2G and 1099-R if tax was withheld. 1 Wages, salaries, tips, etc. Attach Form(s) W-2 1 2 a Tax-exempt interest 2a b Taxable interest 2b 3 a Qualified dividends 3a b Ordinary dividends