For better picture go to https://www.irs.gov/pub/irs-pdf/f6744.pdf pages 39-47 Z

Question

For better picture go to https://www.irs.gov/pub/irs-pdf/f6744.pdf pages 39-47

Zor Basic Scenario 8: Valerie Sinclair Using the tax software, complete the tax return, including Form 1040 and all appropni- ate forms, schedules, or worksheets,Answer the questions following the scenanio. Note: When entering Social Security numbers (SSNs) or Employer ldentfication Numbers (EINs), replace the Xs as directed, or with any four digits of your choice Interview Notes Valerie's tusband, Donald, died in March 2013. She has not remarried. She has two sons, Ethan and Patrick, and one daughter, Annie, who lived with her all year Valerie paid more than half of the support for Annie and Patrick and all of the cost of keeping up the hom. · Her son, Ethan, graduated from college two years ago. He is working and earmed wages of $30,000. He provides more than half of his own support Valenepaying off a student loan that she took out for her son Ethan's qualifed education expenses at an eligible isnon. He out the loan · her dependent en she took Valerle is a seasonal employee and was laid off in December. She recelved unem- ployment income. Ste cashed in her 401(k) samgs and used the money for household expenses. She does not quality for any exception to the additional tax on early distributions Her son, Patrick, attended after-school care while Valerie worked The volunteer is not sure if Valene had qualfied health insurance from her employer all year since she was laid off in December. Valerie mentions that her employer confirmed that she and her children, Annie and Patrick, had health insurance cover- age all year. Ethan had MEC all year through his employer · · 9-00-XXX Valerie Sieclair 42-00-X Ethan Sinclair 41-00-XXX 43-00-xC Patrick Sinclair

Explanation / Answer

20) a

21) c, Earned income credit is a benefit for working people who have low to moderate incomes. A tax credit reduces the amount of tax one owes to the government and may also give a refund.

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