writing assignment
ACCT 3210 TR1 2018 HAMILTON(1).pdf
F o
rm 1040 Department of the Treasury—Internal Revenue Service U.S. Individual Income Tax Return 2018 OMB No. 1545-0074 IRS Use Only—Do not write or staple in this space. (99) Filing status: Single Married filing jointly Married filing separately Head of household Qualifying widow(er) Your first name and initial Last name Your social security number
Your standard deduction: Someone can claim you as a dependent You were born before January 2, 1954 You are blind
If joint return, spouse's first name and initial Last name Spouse’s social security number
Spouse standard deduction: Someone can claim your spouse as a dependent Spouse was born before January 2, 1954
Spouse is blind Spouse itemizes on a separate return or you were dual-status alien
Home address (number and street). If you have a P.O. box, see instructions. Apt. no.
City, town or post office, state, and ZIP code. If you have a foreign address, attach Schedule 6.
Full-year health care coverage or exempt (see inst.)
Presidential Election Campaign (see inst.) You Spouse
If more than four dependents, see inst. and here
Dependents (see instructions): (2) Social security number (3) Relationship to you (4) if qualifies for (see inst.): (1) First name Last name Child tax credit Credit for other dependents
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.
Your signature Date Your occupation If the IRS sent you an Identity Protection PIN, enter it here (see inst.)
Spouse’s signature. If a joint return, both must sign. Date Spouse’s occupation If the IRS sent you an Identity Protection PIN, enter it here (see inst.)
Paid Preparer Use Only
Preparer’s name Preparer’s signature PTIN Firm’s EIN
Firm’s name Phone no.
Check if:
3rd Party Designee
Self-employed
Firm’s address
For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Form 1040 (2018)
Form 1040 (2018) Page 2
Attach Form(s) W-2. Also attach Form(s) W-2G and 1099-R if tax was withheld.
1 Wages, salaries, tips, etc. Attach Form(s) W-2 . . . . . . . . . . . . . . . . 1
2a Tax-exempt interest . . . 2a b Taxable interest . . . 2b
3a Qualified dividends . . . 3a b Ordinary dividends . . 3b
4a IRAs, pensions, and annuities . 4a b Taxable amount . . . 4b
5a Social security benefits . . 5a b Taxable amount . . . 5b
6 Total income. Add lines 1 through 5. Add any amount from Schedule 1, line 22 . . . . . 6 7 Adjusted gross income. If you have no adjustments to income, enter the amount from line 6; otherwise,
subtract Schedule 1, line 36, from line 6 . . . . . . . . . . . . . . . . . 7Standard Deduction for—
• Single or married filing separately, $12,000
• Married filing jointly or Qualifying widow(er), $24,000
• Head of household, $18,000
• If you checked any box under Standard deduction, see instructions.
8 Standard deduction or itemized deductions (from Schedule A) . . . . . . . . . . . . 8
9 Qualified business income deduction (see instructions) . . . . . . . . . . . . . . 9
10 Taxable income. Subtract lines 8 and 9 from line 7. If zero or less, enter -0- . . . . . . . . 10
11 a Tax (see inst.) (check if any from: 1 Form(s) 8814 2 Form 4972 3
b Add any amount from Schedule 2 and check here . . . . . . . . . . . .
)
11
12 a Child tax credit/credit for other dependents b Add any amount from Schedule 3 and check here 12
13 Subtract line 12 from line 11. If zero or less, enter -0- . . . . . . . . . . . . . . 13
14 Other taxes. Attach Schedule 4 . . . . . . . . . . . . . . . . . . . . 14
15 Total tax. Add lines 13 and 14 . . . . . . . . . . . . . . . . . . . . 15
16 Federal income tax withheld from Forms W-2 and 1099 . . . . . . . . . . . . . 16
17 Refundable credits: a EIC (see inst.) b Sch. 8812 c Form 8863
Add any amount from Schedule 5 . . . . . . . . . . . . . . 17
18 Add lines 16 and 17. These are your total payments . . . . . . . . . . . . . . 18
Refund
Direct deposit? See instructions.
19 If line 18 is more than line 15, subtract line 15 from line 18. This is the amount you overpaid . . . . 19
20a Amount of line 19 you want refunded to you. If Form 8888 is attached, check here . . . . 20a
b Routing number c Type: Checking Savings
d Account number
21 Amount of line 19 you want applied to your 2019 estimated tax . . 21
Amount You Owe 22 Amount you owe. Subtract line 18 from line 15. For details on how to pay, see instructions . . . 22
23 Estimated tax penalty (see instructions) . . . . . . . . 23
Go to www.irs.gov/Form1040 for instructions and the latest information. Form 1040 (2018)
HAMILTON 535-22-4466
25970 SEMINARY ROAD
PILOT
HAMILTON 535-44-2255
TEACHER ASSISTANT
550. 1,135. 200,470.
201,605.
201,605.
36,524.
24,000.
177,605. 31,204.
31,204. 4,500.
36,524.
4,500. 26,704.
0.
9,820. 9,820.
X X X X X X X X X X X X X X X X X X X X X X X X X X
No
26,704.
JOSHUA HAMILTON 454-54-5454 Son DANIELLE HAMILTON 343-43-4343 Daughter SARA HAMILTON 232-32-3232 Daughter
KEITH
JENNIFER
PERRYSBURG OH 43558
BAA REV 01/17/19 TTW
- 2018 Federal Tax Return
- Form 1040: Individual Tax Return
__MACOSX/._ACCT 3210 TR1 2018 HAMILTON(1).pdf
Tax Planning Assignment Sp19(1).docx
Local CPAs, LLC
Memo
| To: |
Summer Intern |
| From: |
Joe Local |
| Date: |
April 2, 2019 |
| Re: |
Tax Planning for Keith & Jennifer Hamilton |
Keith and Jennifer purchased 100 Bitcoins for a total of $50,000 in 2013. Bitcoins are now worth $4,750 each, after reaching a peak of over $10,000. Jennifer thinks they should consider selling now, before the cryptocurrency market completely bottoms out. Keith is concerned with paying capital gains tax on so much money and wonders about making a significant charitable contribution but agrees that they should sell the Bitcoin.
Keith and Jennifer are both comfortable gifting $250,000 to charity but cannot agree on where to make the contribution. Keith doesn’t think it will save them that much in taxes and worries about making significant donations in one year. He’s heard good things about setting up a private family foundation and wonders if that is a good way to spread out the contributions over several years. Jennifer wishes to donate it to their high school alma maters, public schools in Ohio.
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