Income Tax Fundamentals

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Chapter 1 – Cumulative Software Problem Answer

1-1

Comprehensive Problem 2

1040

Form

Department of the Treasury—Internal Revenue Service

(99)

U.S. Individual Income Tax Return
Last name

2011
, 2011, ending

OMB No. 1545-0074 , 20

IRS Use Only—Do not write or staple in this space.

*

For the year Jan. 1–Dec. 31, 2011, or other tax year beginning Your first name and initial If a joint return, spouse’s first name and initial

See separate instructions.
Your social security number Spouse’s social security number

Ivan I. Incisor Last name Irene I. Incisor Home address (number and street). If you have a P.O. box, see instructions. 468 Mule Deer Lane City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Spokane, WA 99206 Foreign country name Foreign province/county

Filing Status
Check only one box.

1 2 3 6a b c

X

Single Married filing jointly (even if only one had income)

Married filing separately. Enter spouse’s SSN above and full name here. Spouse . Dependents:

Exemptions

x x

Yourself. If someone can claim you as a dependent, do not check box 6a . . . . . . . . . . . . . . . . . . . . (2) Dependent’s social security number (3) Dependent’s relationship to you

(1) First name

If more than four dependents, see instructions and check here

Ira
d

Total number of exemptions claimed

of as 11 ft 20 ra 9/ } D /2 8 0
Apt. no.

477 34 4321 637 34 4927

Make sure the SSN(s) above and on line 6c are correct.

Presidential Election Campaign

Check here if you, or your spouse if filing jointly, want $3 to go to this fund. Checking Foreign postal code a box below will not change your tax or refund. You Spouse

X

X

4

Head of household (with qualifying person). (See instructions.) If the qualifying person is a child but not your dependent, enter this child’s name here.

5

Qualifying widow(er) with dependent child

.

.

.

.

.

.

.

.

Last name

(4) if child under age 17 qualifying for child tax credit (see instructions)

Boxes checked on 6a and 6b No. of children on 6c who: • lived with you • did not live with you due to divorce or separation (see instructions) Dependents on 6c not entered above

2 1

Incisor

690 99 9999
. . .

Child
. .

x

.

.

.

.

.

.

.

.

.

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.

.

Add numbers on lines above

3

Income
Attach Form(s) W-2 here. Also attach Forms W-2G and 1099-R if tax was withheld.

7 8a b 9a b 10 11 12 13 14 15a 16a 17 18 19 20a 21 22 23 24 25 26 27 28 29 30 31a 32 33 34 35 36 37

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 . .

. .

. . .

. . . . .

. . . . .

. . . . .

. . . . .

. . . . . . .

. . . . . . .

7 8a 9a 10 11 12 13 14 15b 16b 17 18 19 20b 21 22

65,000 380

Qualified dividends . . . . . . . . . . . 9b Taxable refunds, credits, or offsets of state and local income taxes Alimony received . . . . . . . . . . . . . . .

If you did not get a W-2, see instructions.

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 . . . . . . . . . . . .

IRA distributions . 15a b Taxable amount . . . Pensions and annuities 16a b Taxable amount . . . 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 . . . . . . . . .

Enclose, but do not attach, any payment. Also, please use Form 1040-V.

Other income. List type and amount Combine the...
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