I\'m working on a Tax return project and I\'m not sure how to do some of the inf
ID: 2584924 • Letter: I
Question
I'm working on a Tax return project and I'm not sure how to do some of the info i'm provided with. In what schedule do I add the following? How do I deal with them?
"In addition to the tax forms and receipts provided, the Walkers (the family name) paid $2,400 in property taxes on their home, made cash charitable contributions of , and contributed $2,000 to an IRA. Jmes (The father) also paid $2,400 in alimony and $1,400 in child support to his former spouse, Kyle Peterson (probably an ex wife?) , SSN 777-77-7777."
"Everyone in the walker family has health insurance for the entire 12 months of the year."
Note what's in the parentheses () are my comments
Explanation / Answer
“The walkers (the family name)”. You are right in this occasion. It is the family name. You can claim these as itemized deduction Schedule a Real estate taxes (Line 6).
You can deduct charitable contribution as itemized deduction on Form 1040, Schedule A
“James (The father)” You understand well. But don’t call him as father in this case. Better to call him Tax payer in these terms. Alimony payment is a tax deductible of tax payer as an above the line deduction on page one of form 1040.
Kyle Peterson (Probably an ex-wife) yes you are also right in this situation. But it is not an ex-wife. It is the ex-wife. Now in these circumstances you should call her as former spouse. You can’t deduct payment for child support in taxable income.
Health insurance for family should be report on form 1040 which line label in “Health care individual responsibility”