59. Martin S. Albert (Social Security number111-11-1111) is 39 years old and is marriedto Michele R. Albert(Social Security number 123-45-6789). The Alberts live at 512FerryRoad, Newport News, VA 23601. They file a joint return and have twodependent children, Charlene, age 17, and Jordan, age 18.Charlene’s Social Security num-ber is 123-45-6788, and Jordan’sSocial Security number is 123-45-6787. In 2013,Martin and Michelehad the following transactions:
a. Martin received $120,000 in salary from Red SteelCorporation, where he is a con-struction engineer. Withholding forFederal income tax was $10,750. The amounts withheld for FICA taxeswere as follows: $7,049 ($113,700 x 6.2%) for SocialSecurity and$1,740 ($120,000 x 1.45%) for Medicare. Martin worked in MexicofromJanuary 1, 2014, until February 15, 2013. His $120,000 salary for2013 includes $18,000 he earned for January and one-half ofFebruary 2013 while working in Mexico.
b. Martin and Michele received $800 in qualifieddividends on Green, Inc. stock and $400 interest on MontgomeryCounty (Virginia) school bonds.
c. Martin received $2,300 interest from a Bahamian bankaccount.
d. Michele received 50 shares of Applegate Corporationcommon stock as a stockdividend. The shares had a fair market valueof $2,500 at the time Michelereceived them, and she did not havethe option of receiving cash.
e. Martin and Michele received a $1,200 refund on their2012 Virginia income taxes.Their itemized deductions in 2012totaled $14,000.
f. Martin paid $6,600 alimony to his former wife, RoseT. Morgan (Social Security number 123-45-6786).
g. Martin and Michele kept the receipts for their salestaxes paid of $1,100.
h. Martin and Michele’s itemized deductions were asfollows:
• State income tax paid and withheld totaled$5,100.
• Real estate taxes on their principal residence were$3,700.
• Mortgage interest on their principal residence was$2,500.
• Cash contributions to the church totaled$2,800.
Part 1—Tax Computation Compute the Alberts’s net taxpayable (or refund due) for 2013.
COMPLETE FORM 1040
**Please note it is for the year 2013.**Please note the foreign earned income for mexican earnedincome**according to professor, the AGI is $105,400
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