Using the guidelines below, prepare a spreadsheet to determine if you owe the Federal government or the Federal government owes you.

Question

Open a spreadsheet and in cell A1 enter Income Tax Return.
In cell A3, enter Wages, Salaries, and Tips and in cell B3, enter $16200.89.
In cell A4, enter Taxable Interest and in cell B4, enter 111.90.
In cell A5, enter Unemployment Compensation and in cell B5, enter 0.
In cell A6, enter Adjusted Gross Income and in cell B6, enter a formula to find the total of B3, B4, and B5.
In cell A7, enter Single and in cell B7 enter $8750.
In cell A8, enter Taxable Income and in cell B8, enter a formula to subtract the amount in cell B7 from the Adjusted Gross Income.
In cell A9, enter Federal Income Tax Withheld and in cell B9, enter $1567.94.
In cell A10, enter Earned Income Credit and in cell B10, enter 0
In cell A11, enter Total Payments and in cell B11, enter a formula to add Federal Income Tax Withheld and Earned Income Credit.
Next you would use the tax table in the tax booklet to look up the corresponding value for your taxable income. The value from the tax table is $758. In cell A12, enter Tax and in cell B12, enter $758.
Since the total payments in cell B11 are greater than the tax in cell B12, you will be receiving a refund. In cell A13, enter Refund and in cell B13, enter a formula to subtract the tax from the total payments.
Let's check your answer. In cell B13, you should have $809.94.

GPT-4o mini · Answer

To create the requested spreadsheet following your guidelines, please follow the step-by-step instructions below. I'll describe each step in detail that you can use in any spreadsheet software, such as Microsoft Excel, Google Sheets, or any similar application.

Step-by-Step Instructions to Create the Spreadsheet

Open a New Spreadsheet
- Launch your spreadsheet software (e.g., Microsoft Excel or Google Sheets).
Cell A1
- In cell A1, enter:
```
Income Tax Return
```
Cell A3 and B3
- In cell A3, enter:
```
Wages, Salaries, and Tips
```
- In cell B3, enter:
```
16200.89
```
Cell A4 and B4
- In cell A4, enter:
```
Taxable Interest
```
- In cell B4, enter:
```
111.90
```
Cell A5 and B5
- In cell A5, enter:
```
Unemployment Compensation
```
- In cell B5, enter:
```
0
```
Cell A6 and B6
- In cell A6, enter:
```
Adjusted Gross Income
```
- In cell B6, enter the formula to calculate the total income:
```
=B3 + B4 + B5
```
- This will calculate the sum of wages, salaries, tips, taxable interest, and unemployment compensation.
Cell A7 and B7
- In cell A7, enter:
```
Single
```
- In cell B7, enter:
```
8750
```
Cell A8 and B8
- In cell A8, enter:
```
Taxable Income
```
- In cell B8, enter the formula to calculate taxable income:
```
=B6 - B7
```
Cell A9 and B9
- In cell A9, enter:
```
Federal Income Tax Withheld
```
- In cell B9, enter:
```
1567.94
```
Cell A10 and B10
- In cell A10, enter:
```
Earned Income Credit
```
- In cell B10, enter:
```
0
```
Cell A11 and B11
- In cell A11, enter:
```
Total Payments
```
- In cell B11, enter the formula to calculate total payments:
```
=B9 + B10
```
Cell A12 and B12
- In cell A12, enter:
```
Tax
```
- In cell B12, enter:
```
758
```
Cell A13 and B13
- In cell A13, enter:
```
Refund
```
- In cell B13, enter the formula to calculate the refund:
```
=B11 - B12
```
- This will calculate if you owe money or if you will receive a refund.

Final Check

After entering all the data and formulas, cell B13 should display:
```
809.94
```

This indicates that you will be receiving a refund of $809.94 from the Federal government based on your entries.