Fill Form 8804 Schedule A Instructions 2023-2024

We're going to walk through the schedule A, and again, this is for itemized deductions. This is an opportunity to see whether our fictional characters, Herbie Bookbinder and his wife Jane Bookminder, have itemized deductions that are more than the standard deduction. If their itemized deductions are more, then they'd rather itemize to save some tax money. Well, it's time for a tax form, but they can save some money, great! Of course, they have to put their names on the top of the form, and this will actually be Herbie's Bookminder. We're actually going to use his W-2, so there's a social security number. We'll assume that in this case, his name was listed first when they were first married, since he was our fictional character from the other tax form that we had done. They only need one number here. Medical and dental expenses, we'll add those up together. So maybe they have $3,000 in medical and maybe a couple hundred in dental. So we'll go ahead and put $3,200 in for medical and dental. Of course, this will all be listed for you on the quiz. Now, when they talk about entering the amount from form 1040 line 38, well, we would have started off with their income here, which is the $48,000 plus the $17,220. We add those together. We would also add in the interest. There might have been a couple of deductions, so for example, educator expenses or maybe college expenses. For the moment, we're going to assume that their AGI is just straightforward, no other income outside of the W-2s. Okay, now in this case, they're asking us to multiply it by 0.1%. There is a quick reference to 0.075. Notice that all of us who were born before January of 1950, that's...