Income Tax Fundamentals Chapter 4 Comprehensive Problem 1
Income Tax Fundamentals Chapter 4 Comprehensive Problem 1
Income Tax Fundamentals Chapter 4 Comprehensive Problem 1
Form
(99)
2012
, 2012, ending
For the year Jan. 1Dec. 31, 2012, or other tax year beginning Your first name and initial
Walter
Bunge
7 0 0 0 1 0 0 0 2
Rebecca
Home address (number and street). If you have a P.O. box, see instructions. City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Foreign country name Foreign province/state/county
Bunge
2 2 2 4 3 7 6 9 0
52B
Filing Status
Check only one box.
1 2 3 6a b c
Single Married filing jointly (even if only one had income) Married filing separately. Enter spouses SSN above and full name here. Spouse . Dependents: . . . . . . . . . . . .
Head of household (with qualifying person). (See instructions.) If the qualifying person is a child but not your dependent, enter this childs name here.
5 . . .
Exemptions
. .
. .
. .
. .
Last name
(4) if child under age 17 qualifying for child tax credit (see instructions)
2 0
0 0
2
If more than four dependents, see instructions and check here d Total number of exemptions claimed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 8a 9a 10 11 12 13 14 15b 16b 17 18 19 20b 21 22
Income
Attach Form(s) W-2 here. Also attach Forms W-2G and 1099-R if tax was withheld.
Wages, salaries, tips, etc. Attach Form(s) W-2 . Taxable interest. Attach Schedule B if required . Tax-exempt interest. Do not include on line 8a . Ordinary dividends. Attach Schedule B if required
. . 8b . .
50000 0 0
0 0
0 . .
Qualified dividends . . . . . . . . . . . 9b Taxable refunds, credits, or offsets of state and local income taxes Alimony received . . . . . . . . . . . . . . .
0 . . . .
. .
If you did not get a W-2, see instructions. Enclose, but do not attach, any payment. Also, please use Form 1040-V.
Business income or (loss). Attach Schedule C or C-EZ . . . . . . . . . Capital gain or (loss). Attach Schedule D if required. If not required, check here Other gains or (losses). Attach Form 4797 . . . . . . . . . . . . .
0 0 0 0 0 (2480) 0 0
0 0 47520
IRA distributions . 15a b Taxable amount . . . 0 Pensions and annuities 16a b Taxable amount . . . 0 Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E Farm income or (loss). Attach Schedule F . Unemployment compensation . . . . Social security benefits 20a . . . . . . . . . . . . . . . . . . . . b Taxable amount . . . . . . . . .
0 Other income. List type and amount Combine the amounts in the far right column for lines 7 through 21. This is your total income
Educator expenses . . . . . . . . . . 23 24 25 26 27 28 29 30 31a 32 33 34 . . . . . . . .
0 0 0 5194 0 0 0 0 0 0 0
Certain business expenses of reservists, performing artists, and fee-basis government officials. Attach Form 2106 or 2106-EZ Health savings account deduction. Attach Form 8889 . Moving expenses. Attach Form 3903 . . . . . . Deductible part of self-employment tax. Attach Schedule SE . Self-employed SEP, SIMPLE, and qualified plans . . Self-employed health insurance deduction Penalty on early withdrawal of savings . . Alimony paid b Recipients SSN IRA deduction . . . . . . . Student loan interest deduction . . Tuition and fees. Attach Form 8917 . . . . . . . . . . . . . . . . . . . . . . . . . . .
Domestic production activities deduction. Attach Form 8903 35 Add lines 23 through 35 . . . . . . . . . . . . . Subtract line 36 from line 22. This is your adjusted gross income
0 0 . . .
36 37
Form
For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions.
1040
5194 42326
(2012)
Page 2
38 39a b 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59a b 60 61
You were born before January 2, 1948, Spouse was born before January 2, 1948,
Blind. Blind.
38
42326
0
39b . . . . 40 41 42 43 44 45 46
If your spouse itemizes on a separate return or you were a dual-status alien, check
here
Itemized deductions (from Schedule A) or your standard deduction (see left margin) Subtract line 40 from line 38 . . . . . . . . . . . . . . . . .
11900
30426 7600
Exemptions. Multiply $3,800 by the number on line 6d . . . . . . . . . . . . Taxable income. Subtract line 42 from line 41. If line 42 is more than line 41, enter -0- . . Form 4972 c 962 election Tax (see instructions). Check if any from: a Form(s) 8814 b Alternative minimum tax (see instructions). Attach Form 6251 . Add lines 44 and 45 . . . . . . . . . . . . . . Foreign tax credit. Attach Form 1116 if required . . . .
Credit for child and dependent care expenses. Attach Form 2441
22826
2554 0 2554
. . 47 48 49 50 51
. .
. .
. .
. .
. .
. .
0 0
Education credits from Form 8863, line 19 . . . . . Retirement savings contributions credit. Attach Form 8880 Child tax credit. Attach Schedule 8812, if required . . .
0
0 0
Residential energy credits. Attach Form 5695 . . . . 52 3800 b 8801 c Other credits from Form: a 53 Add lines 47 through 53. These are your total credits . . . . . Subtract line 54 from line 46. If line 54 is more than line 46, enter -0Self-employment tax. Attach Schedule SE . . . . Unreported social security and Medicare tax from Form:
Household employment taxes from Schedule H Other taxes. Enter code(s) from instructions . . .
. . .
. . . b
. .
. . .
. .
. .
0 0 . . .
. .
. . .
54 55 56 57 58 59a 59b
Other Taxes
. . . . a 4137
. . . . .
. . 8919
. . . .
. .
. . .
0 2554 0 0
0 0 0 0 2554
Additional tax on IRAs, other qualified retirement plans, etc. Attach Form 5329 if required . . . . First-time homebuyer credit repayment. Attach Form 5405 if required
60 61
Payments
If you have a qualifying child, attach Schedule EIC.
62 63 64a b 65 66 67 68 69 70 71 72
Federal income tax withheld from Forms W-2 and 1099 . . 2012 estimated tax payments and amount applied from 2011 return Earned income credit (EIC) . . . . . . Nontaxable combat pay election 64b Additional child tax credit. Attach Schedule 8812 . . . .
0
. . . . .
. . . . .
62 63 64a 65 66 67 68
5000 0 0 0 0
. . . . . .
American opportunity credit from Form 8863, line 8 . Reserved . . . . . . . . . . . . . Amount paid with request for extension to file . .
Excess social security and tier 1 RRTA tax withheld
. . 69 Credit for federal tax on fuels. Attach Form 4136 . . 70 Credits from Form: a 2439 b Reserved c 8801 d 8885 71 Add lines 62, 63, 64a, and 65 through 71. These are your total payments . . .
0 0 0 0 .
Refund
73
If line 72 is more than line 61, subtract line 61 from line 72. This is the amount you overpaid Amount of line 73 you want refunded to you. If Form 8888 is attached, check here . c Type: Routing number Checking Savings 1 2 3 4 5 6 7 8 9 Account number 1 2 3 4 5 6 7 8 9 1 0 1 1 1 2 1 3 0 Amount of line 73 you want applied to your 2013 estimated tax 75 Amount you owe. Subtract line 72 from line 61. For details on how to pay, see instructions
72 73 74a
5000 2446
2446
74a b d 75 76
76
77 77 Estimated tax penalty (see instructions) . . . . . . . Do you want to allow another person to discuss this return with the IRS (see instructions)?
Designees name Phone no.
0
Yes. Complete below. No
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.
Date Date
Your occupation
123-456-7890
If the IRS sent you an Identity Protection PIN, enter it here (see inst.) PTIN Check if self-employed
Homemaker
Preparers signature Date
Firms name
Firms address