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Following is a list of information for Peter and Amy Jones for the current tax year. Peter and Amy are married and have three children, Aubrynne, Bryson, and Caden. They live at 1846 Joplin Way,...

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Following is a list of information for Peter and Amy Jones for the current tax year. Peter and Amy are married and have three children, Aubrynne, Bryson, and Caden. They live at 1846 Joplin Way, Lakeville, MN XXXXXXXXXXPeter is a lawyer working for a Native American law firm. Amy works part-time in a genetic research lab. The Jones' Social Security numbers and ages are as follows:

NAME S.S. NO. AGE
Peter XXXXXXXXXX
Amy XXXXXXXXXX
Aubrynne XXXXXXXXXX
Bryson XXXXXXXXXX
Caden XXXXXXXXXX

RECIEPTS

Peter's salary $70,000
Amy's salary 32,000


DISBURSEMENTS


Eyeglasses and exam for Aubrynne $ 600
Orthodontic work for Bryson to correct a congenital defect 2,500
Medical insurance premiums 1,800
Withholding for state income taxes 7,200
Withholding for federal income taxes 16,000
State income taxes paid with last year's tax return
(paid when the return was filed in the current year) 500
Property taxes on home 1,100
Property taxes on automobile 300
Interest on home 9,700
Interest on credit cards 200
Compute Peter and Amy's income tax liability for the current year of 2009 using Form 1040, Schedule A.
Answered Same Day Dec 24, 2021

Solution

David answered on Dec 24 2021
137 Votes
Following is a list of information for Peter and Amy Jones for the cu
ent tax year. Peter and Amy are ma
ied and have
three children, Au
ynne, Bryson, and Caden. They live at 1846 Joplin Way, Lakeville, MN 55022. Peter is a lawyer
working for a Native American law firm. Amy works part-time in a genetic research lab. The Jones' Social Security
numbers and ages are as follows:
NAME S.S. NO. AGE
Peter 215-60-1989 32
Amy 301-60-2828 28
Au
ynne 713-84-5555 5
Bryson 714-87-2222 3
Caden 714-89-1684 1
RECIEPTS
Peter's salary $70,000
Amy's salary 32,000
DISBURSEMENTS
Eyeglasses and exam for Au
ynne $ 600
Orthodontic work for Bryson to co
ect a congenital defect 2,500
Medical insurance premiums 1,800
Withholding for state income taxes 7,200
Withholding for federal income taxes 16,000
State income taxes paid with last year's tax return
(paid when the return was filed in the cu
ent year) 500
Property taxes on home 1,100
Property taxes on automobile 300
Interest on home 9,700
Interest on credit cards 200
Compute Peter and Amy's income tax liability for the cu
ent year of 2009 using Form 1040, Schedule A.
Income
Wages, salaries, tips, etc $70,000
Spouse wages, salaries, tips, etc $0
Taxable interest $0
Taxexempt
interest $0
Ordinary dividends (this includes any qualified dividends) $0
Qualified dividends (included in ordinary dividends above) $0
Taxable refunds or credits of state and local income taxes $0
Alimony received $0
Business income or loss (Schedule C & E subject to selfemployment
taxes) $0
Spouse's business income or loss (Schedule C & E subject to selfemployment
taxes)
$0
Short term capital gain or loss* $0
Long term capital gain or loss* $0
Other gains or losses $0
Taxable IRA distributions $0
Taxable pensions and annuity distributions $0
Income from rentals, royalties, S Corporations and Schedule E (not included
above and subject to NIIT)
$0
Income from rentals, royalties, S Corporations and Schedule E (not included
above and not subject to NIIT)
$0
Farm income or loss (Schedule F) $0...
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