Detailed Review of US Individual Income Tax Forms and Schedules

This homework assignment analyzes several key US tax forms from the 2018 tax year, including Schedule A (Itemized Deductions), Form 1040 (U.S. Individual Income Tax Return), Form 6251 (Alternative Minimum Tax), Form 8826 (Disabled Access Credit), and Form 2441 (Child and Dependent Care Expenses). The analysis involves understanding the purpose of each form, the information required, and how different sections and schedules interrelate. It includes a breakdown of itemized deductions, calculations for alternative minimum tax, and the process of claiming various credits. The assignment also involves the calculation of taxable income and the overall tax liability. The document provides a detailed overview of the forms and calculations, demonstrating an understanding of the US individual income tax system and how various components contribute to the final tax outcome.

SCHEDULE A
(Form 1040)
Department of the Treasury
Internal Revenue Service (99)
Itemized Deductions
▶ Go to www.irs.gov/ScheduleA for instructions and the latest information.
▶ Attach to Form 1040.
Caution: If you are claiming a net qualified disaster loss on Form 4684, see the instructions for line 16.
OMB No. 1545-0074
2018Attachment
Sequence No.07
Name(s) shown on Form 1040 Your social security number
Medical
and
Dental
Expenses
Caution: Do not include expenses reimbursed or paid by others.
1 Medical and dental expenses (see instructions). . . . . 1
2 Enter amount from Form 1040, line 72
3 Multiply line 2 by 7.5% (0.075). . . . . . . . . . . 3
4 Subtract line 3 from line 1. If line 3 is more than line 1, enter -0- .. . . . . . . 4
Taxes You
Paid
5 State and local taxes.
a State and local income taxes or general sales taxes. You may
include either income taxes or general sales taxes on line 5a,
but not both. If you elect to include general sales taxes instead
of income taxes, check this box. . . . . . . . ▶ 5a
b State and local real estate taxes (see instructions). . . . . 5b
c State and local personal property taxes. . . . . . . . 5c
d Add lines 5a through 5c. . . . . . . . . . . . . 5d
e Enter the smaller of line 5d or $10,000 ($5,000 if married filing
separately) . . . . . . . . . . . . . . . . . 5e
6 Other taxes. List type and amount▶
6
7 Add lines 5e and 6 . . . . . . . . . . . . . . . . . . . . . . 7
Interest You
Paid
Caution: Your
mortgage interest
deduction may be
limited (see
instructions).
8 Home mortgage interest and points. If you didn't use all of your
home mortgage loan(s) to buy, build, or improve your home,
see instructions and check this box. . . . . . . ▶
a Home mortgage interest and points reported to you on Form
1098 . . . . . . . . . . . . . . . . . . . 8a
bHome mortgage interest not reported to you on Form 1098. If
paid to the person from whom you bought the home, see
instructions and show that person's name, identifying no., and
address ▶
8b
c Points not reported to you on Form 1098. See instructions for
special rules . . . . . . . . . . . . . . . . . 8c
d Reserved . . . . . . . . . . . . . . . . . . 8d
e Add lines 8a through 8c. . . . . . . . . . . . . 8e
9 Investment interest. Attach Form 4952 if required. See
instructions . . . . . . . . . . . . . . . . . 9
10 Add lines 8e and 9 . . . . . . . . . . . . . . . . . . . . . . 10
Gifts to
Charity
11 Gifts by cash or check. If you made any gift of $250 or more,
see instructions . . . . . . . . . . . . . . .
If you made a
gift and got a
benefit for it,
see instructions.
11
12 Other than by cash or check. If any gift of $250 or more, see
instructions. You must attach Form 8283 if over $500 .. . 12
13 Carryover from prior year. . . . . . . . . . . . 13
14 Add lines 11 through 13 .. . . . . . . . . . . . . . . . . . . . 14
Casualty and
Theft Losses
15 Casualty and theft loss(es) from a federally declared disaster (other than net qualified
disaster losses). Attach Form 4684 and enter the amount from line 18 of that form. See
instructions. . . . . . . . . . . . . . . . . . . . . . . . . 15
Other
Itemized
Deductions
16 Other—from list in instructions. List type and amount▶
16
Total
Itemized
Deductions
17 Add the amounts in the far right column for lines 4 through 16. Also, enter this amount on
Form 1040, line 8. . . . . . . . . . . . . . . . . . . . . . . 17
18 If you elect to itemize deductions even though they are less than your standard
deduction, check here. . . . . . . . . . . . . . . . . . . ▶
For Paperwork Reduction Act Notice, see the Instructions for Form 1040. Cat. No. 17145C Schedule A (Form 1040) 2018
7200
26000 00
1950 00
0 00
350 00
2230 00
2580 00
2580 00
2580 00
7246 00
7246 00
4500 00
4500 00