ENTER ALL VALUES AS POSITIVE - DEDUCTIONS AND EXCLUSIONS WILL BE AUTOMATICALLY CALCULATED AS A SUBTRACTION
ENTER ALL VALUES IN BLACKBOARD AS WHOLE NUMBERS (NO PENNIES) WITHOUT A DOLLAR SIGN
2022 - Form 1040
Gross Income:
Paul Decker Salary 68,000
Donna Decker Salary 56,000
Acme Corporation Dividend 750
State Income Tax Refund 1,520
Acme Corporation Sale: Amount Realized
Acme Corporation Sale: Adjusted Basis
Acme Corporation Sale: Net Realized Gain (Loss) 7,500
Gross Income (subtotal): 133,770
Deductions for AGI:
Deductions for AGI (subtotal): 0
ADJUSTED GROSS INCOME: 133,770
Deductions from AGI:
Medical expense deduction (Supplemental schedu
7,211
Sales taxes deduction 1,379
State income tax deduction 2,500
Greater of sales tax or income tax 2,500
Real estate tax deduction 6,850
Total taxes paid 9,350
Tax deduction 9,350
Mortgage interest expense deduction 7,890
Automobile interest expense deduction 0
Credit card interest expense deduction 0
Total interest expense deduction 7,890
Charitable contribution deduction - Church 4,600
