Access the tax table to use

Reference no: EM13313161

Ray and Maria Gomez have been married 3 years. They live at 1610 Quince Ave., McAllen, TX 78701. Ray works for Palm Oil Corporation and Maria works for the City of McAllen. Maria's Social Security number is 444-65-9912 and Ray's is 469-21-5523. Ray and Maria's earnings and income tax withheld for 2013 are:

Ray and Maria have interest income of $577 from a savings account at McAllen State Bank. In addition, they own U.S. Savings bonds (Series EE). The bonds had a value of $10,000 on January 1, 2013, and their value is $10,700 on December 31, 2013. They have not made an election with respect to these bonds.

Ray has an ex-wife named Judy Gomez. Pursuant to their divorce decree, Ray pays her $400 per month in alimony. All payments were made on time in 2013. Judy's Social Security number is 566-74-8765.

During 2013, Ray was in the hospital for a successful operation. His health insurance company reimbursed Ray $4,732 for all of his hospital and doctor bills.

In June 2013, Maria's father died. Under a life insurance policy owned and paid for by her father, Maria was paid death benefits of $25,000.

Maria bought a Texas lottery ticket on impulse during 2013. Her ticket was lucky and she won $3,000. The winning amount was paid to Maria in November 2013, with no income tax withheld.

Palm Oil Corporation provide Ray with a company car to drive while he is working. The Corporation spent $5,000 to maintain this vehicle during 2013. Ray never uses the car for personal purposes.

Required:

Complete the Gomez's federal tax return for 2013. Use Form 1040 below. If an amount box does not require an entry, leave it blank. Enter all amounts as positive numbers.

Click here to access the tax table to use for this problem.

Reference no: EM13313161

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Access the tax table to use : Ray and Maria Gomez have been married 3 years. They live at 1610 Quince Ave., McAllen, TX 78701. Ray works for Palm Oil Corporation and Maria works for the City of McAllen. Maria's Social Security number is 444-65-9912 and Ray's is 469-21-5523..

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