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I would like some help with this problem. I have completed a portion of it but would like to compare

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I would like some help with this problem. I have completed a portion of it but would like to compare 1 answer below » I would like some help with this problem. I have completed a portion of it but would like to compare to my answers before I turn it in. I would really appreciate you help. Document Preview: INDIVIDUAL TAX RETURN PROBLEM
Use the following information to complete Paige Turner’s 2012 federal income tax return. If information is missing, use reasonable assumptions to fill in the gaps.
Any required forms, schedules, and instructions can be found at the IRS Web site (www.irs.gov). The View complete question » I would like some help with this problem. I have completed a portion of it but would like to compare to my answers before I turn it in. I would really appreciate you help. Document Preview: INDIVIDUAL TAX RETURN PROBLEM
Use the following information to complete Paige Turner’s 2012 federal income tax return. If information is missing, use reasonable assumptions to fill in the gaps.
Any required forms, schedules, and instructions can be found at the IRS Web site (www.irs.gov). The instructions can be helpful in completing the forms.
Facts:
1. Paige Turner is single and has two children from her previous marriage. Ali lives with Paige, and Paige provides more than half of her support. Leif lives with his father; Will (Lief lived with Will for all of 2012). Will provides more than half of Leif’s support. Paige pays “alimony” of $400 per month to Will. The payments are to continue until Leif reaches age 18, when they will be reduced to $150. Paige provides you with the following additional information:
• She uses the cash method of accounting and a calendar year for reporting.
• She wishes to contribute to the presidential election campaign.
• Paige lives at 523 Essex Street, Bangor, ME 04401.
• Paige’s birthday is May 31, 1974.
• Ali’s birthday is October 5, 2003.
• Leif’s birthday is December 1, 2001.
• Paige’s Social Security number is 007-16-4727.
• Ali’s Social Security number is 005-61-7232.
• Leif’s Social Security number is 004-23-3419.
• Will’s Social Security number is 006-45-6333.
• She does not have any foreign bank accounts or trusts.

2. Paige is employed as a nuclear engineer with Atom Systems Consultants, Inc.
(ASCI). ASCI’s federal employer identification number is 79-1234466. Paige’s
pay stubs indicate that she had $7,230 withheld in federal taxes, $4,987 in state
taxes, $4,495 in Social Security taxes, and $1,051 in Medicare taxes. ASCI has
an extensive fringe benefits program for its employees.
3. Paige earned salary of $70,000 (before subtracting her 401(k) and flexible
spending plan contributions). She contributed $7,000 to her 401(k) account, and she
contributed $3,600 to her flexible spending… Attachments: INDIVIDUAL-TA….docx View less » Jul 28 2015 12:14 PM


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