1:4-61 Alice Johnson, Social Security number 222-23-3334, is a single taxpayer and is employed as a secretary by State University of Florida. She has the following items pertaining to her income tax return for the current year: Received a $30,000 salary from her employer, who withheld $4,200 federal income tax. Received a gift of 1,000 shares of Ace Corporation stock with a $100,000 FMV from her mother. She also received $4,000 of cash dividends from the Ace Corporation. The dividends are qualified dividends. Received $1,000 of interest income on bonds issued by the City of Tampa. Received a regular stock dividend (nontaxable under Sec. 305) of 50 shares of Ace Corporation stock with a $5,000 FMV. Alice's employer paid $2,000 of medical and health insurance premiums on her behalf. Received $13,000 alimony from her ex-husband. They divorced on August 1, 2014. State University provided $60,000 of group term life insurance. Alice is 42 and is not a key employee. The table in the text is applicable. Received a $1,000 cash award from her employer for being designated the Secretary of the Year. Total itemized deductions are $10,000. Complete Form 1040 and accompanying schedules for Alice Johnson's 2019 return. years old The first tax return project is Problem 1:4-61 (taxpayer Alice Johnson) from your text. Please use 2020 forms. You are allowed to use software or you may use the fill-in forms on the IRS website, whichever is easier for you. We discussed this in the f2f recording from today (9/23/21). It is due Oct 29. Make sure you complete both pages of the form 1040, schedule 1, and schedule B. Also whether you complete the forms manually or using software, you must also submit the capital gain tax calculation worksheet manually. The problem has qualified dividends which requires this calculation. Check Figure: Form 1040 Total Income Line 15: 35,612 Also assume that the taxpayer received the correct amount of economic stimulus advance refund (if you know about this rule) so that you are not claiming any on the return. If you work on the project in advance, I will be happy to check your forms for you before turn the project in. However, this only applies to forms that are received by me no later than Oct 26 (3 days before the project is due)