Blake earns a salary of $38,000 and has a seven-year-old son, Oscar. Blake pays the...
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Accounting
Blake earns a salary of $38,000 and has a seven-year-old son, Oscar. Blake pays the Dahlonega Day Care Center $4,000 to take care of Oscar while Blake works.
In addition, Blake:
Takes 9 hours at the University of North Georgia and has tuition and fees of $5,000, supplies of $500, books of $1,000, meals of $400 and commuting of $900.
Purchased a laptop computer to use in school for $600.
Receives a Hope Scholarship of $3,000.
Invests $3,000 in a Roth IRA (what would happen if he invested in a Traditional IRA?).
REQUIRED:
Prepare Blakes Tax Return using 1040.
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