Reference no: EM132213920
Question: Lance H. and Wanda B. Dean are married and live at 431 Front St., Perrysburg, OH 43551. Lance works for the convention bureau of the local Chamber of Commerce, while Wanda is employed part- time as a paralegal for a law firm.
During 2015, the Deans had the following receipts:
Salaries ($60,000 for Lance, $41,000 for Wanda) $101,000
Wanda was previously married to John Allen. When they divorced several years ago, Wanda was awarded custody of their two children, Penny and Kyle. (Note: Wanda has never issued a Form 8332 waiver.) Under the divorce decree, John was obligated to pay alimony and child supportâ€"the alimony payments were to terminate if Wanda remarried.
The Deans' household includes the following, for whom they provide more than half of the support:
Lance Dean (age 45) 123-45-6786 12/16/1973
Wanda Dean (age 43) 123-45-6787 08/08/1975
Penny Allen (age 22) 123-45-6788 10/09/1996
Kyle Allen (age 16) 123-45-6789 05/03/2002
Wayne Boyle (age 78) 123-45-6785 06/15/1940
Penny graduated from high school in 2014, and has not attended college. During 2018, she earned $8,500 (placed in a savings account) playing a harp in the lobby of a local hotel.
Wayne is Wanda's widower father who died on January 20, 2018. For the past few years, Wayne qualified as a dependent of the Deans.
Kyle Allen is a high school student.
Federal income tax withheld is $5,200 (Lance) and $3,100 (Wanda). The proper amount of Social Security and Medicare tax was withheld. Ohio income tax withheld is $2,100 (Lance) and $800 (Wanda). Perrysburg income tax withheld is $900 (Lance). Toledo income tax withheld is $900 (Wanda). School District Income Tax Withheld is $305 (Lance) and $200 (Wanda).
Required: Determine the Federal income tax for 2018 for the Deans on a joint return by completing the appropriate forms. Use Form 1040 to complete this tax return. They do not want to contribute to the Presidential Election Campaign Fund. All members of the family had health care coverage for all of 2018. If an overpayment results, it is to be refunded to them.
Make realistic assumptions about any missing data.
Enter all amounts as positive numbers.
If an amount box does not require an entry or the answer is zero, enter "0".
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