45. Logan B. Taylor is a widower whose wife, Sara, died on June 6, 2016. He lives at 4680 Dogwood Lane, Springfield, MO 65801. He is employed as a paralegal by a local law firm. For 2018, he reported the following receipts. Salary Interest income Money market account at Omni Bank Savings account at Bosne State Bank City of Springfield general purpose bonds Inheritance from Daniel Life insurance proceeds Amount from sale of St . Louis lot Proceeds from estate sale Federal income tax refund (for 2017 tax overpayment) S 300 1,100 3,000 S 80,000 4,400 60,000 200,000 80,000 9,000 700 In 2018, Logan inherited securities worth $60,000 from his deceased uncle, Daniel. Logan also was the designated beneficiary of an insurance policy on Daniel 's life with a maturity value of $200,000. The lot in St. Louis was purchased on May 2, 2013, for $85,000 and held as an investment. As the neighborhood has deteriorated, Logan decided ro cur his losses and sold the lot on January 5, 2018, for $80,000. The estate sale consisted largely of items belonging ro Sara and Daniel (e.g., camper, boat, fu rniture, and fishing and hunting equipment). Logan estimates that the property sold originally cost at least twice the $9,000 he received and has declined or stayed the same in value since Sara and Daniel died. Logan's other 2018 expenditures include the following. Medical expenses (including $10,500 for dental services) Taxes State of Missouri income tax (includes withholdings) Property taxes on personal residence Interest on home mortgage Contribution to church (paid pledges for 2018 and 2019) $4,200 4,500 $11,500 8,700 5,600 4,800 Logan and his dependents were covered by his employer's health insurance policy for all of 2018. However, he is subject to a deductible, and dental care is not included. The $10,500 dental charge was for Helen's implant5. Helen is Logan's widowed mother, who lives with him (see below) . Logan normally pledges $2,400 ($200 per month) each year to his church. On December 5, 2018, upon the advice of his pastor, he prepaid his pledge for 2019. Logan's household, all of whom he supports, includes the following. Social Security Number Birth Date Logan Taylor (age 48) 123-45-6787 08/30/ 1970 Helen Taylor (age 70) 123-45-6780 01/ 13/ 1948 Asher Taylor (age 23) 123-45-6783 07/ 18/ 1995 Mia Taylor (age 22) 123-45-6784 02/ 16/ 1996 Helen, Logan's mother, receives a modest Social Security benefit. Asher, a son, is a full-time student in dental school and earns $4,500 as a part-time dental assistant. Mia, a daughter, does not work and is engaged to be married. Part 1-Tax Computation Using the appropriate forms and schedules, compute Logan's 2018 Federal income tax. Federal income tax of $4,500 was withheld from his wages. If Logan has any overpayment on his income tax, he wants the refund sent to him. Assume that the proper amounts of Social Security and Medicare taxes were withheld. Logan does not want to contribute to the Presidential Election Campaign Pund.

45. Logan B. Taylor is a widower whose wife, Sara, died on June 6, 2016. He lives at 4680 Dogwood Lane, Springfield, MO 65801. He is employed as a paralegal by a local law firm. For 2018, he reported the following receipts. S 80,000 Salary Interest income Money market account at Omni Bank Savings account at Bosne State Bank City of Springfield general purpose bonds 300 1,100 4400 3,000 Inheritance from Daniel 60,000 Life insurance proceeds 200,000 Amount from sale of St. Louis lot 80,000 Proceeds from estate sale 9,000 Federal income tax refund (for 2017 tax overpayment) 700 In 2018, Logan inherited securities worth $60,000 from his deceased uncle, Daniel. Logan also was the designated beneficiary of an insurance policy with a maturity value of $200,000. The lot in St. Louis was purchased on May 2, 2013, for $85,000 and held as an investment. As the neighborhood has deteriorated, Logan decided to cut his losses and sold the lot on January 5, 2018, for $80,000. The estate sale consisted largely of items belonging to Sara and Daniel (e.g., camper, boat, furniture, and fishing and hunting equipment. Logan estimates that the property sold originally cost at least twice the $9,000 he received and has declined or stayed the same in value since Sara and Daniel died. on Daniel's life Logan's other 2018 expenditures include the following Medical expenses (including $10,500 for dental services) $11,500 Taxes State of Missouri income tax (includes withhold ings) Property taxes on personal residence Interest on home mortgage Contribution to church (paid pledges for 2018 and 2019) $4,200 4,500 8.70 5,600 4,800 Logan and his dependents were covered by his employer's health insurance policy for all of 2018. However, he is subject to a deductible, and dental care is not included. The $10,500 dental charge widowed mother, who lives with him (see below). Logan normally pledges $2,400 ($200 per month) each year to his church. On December 5, 2018, upon the advice of his pastor, he prepaid his pledge for 2019. Logan's household, all of whom he supports, includes the following was for Helen's implants. Helen is Logan's Social Security Number Birth Date Logan Taylor (age 48) aylor (age 70) 08/30/1970 123-45-6787 23-45 Helen 80 01/13/194 Asher Taylor (age 23) 123-45-6783 07/18/1995 Mia Taylor (age 22) 123-45-6784 02/16/1996 Helen, Logan's mother, receives a modest Social Security benefit. Asher, a son, is a full-time student in dental school and earns $4,500 Mia, a daughter, does not work and is engaged to be married. part-time dental assistant. as a Part 1-Tax Computation Using the appropriate forms and schedules, compute Logan's 2018 Federal income tax. Federal income tax of $4,500 was withheld from his wages. If Logan has any overpayment on his income tax, he wants the refund sent to him. Assume that the proper amounts of Social Security and Medicare taxes were withheld. Logan does not want to contribute to the Presidential Election Campaign Fund 45. Logan B. Taylor is a widower whose wife, Sara, died on June 6, 2016. He lives at 4680 Dogwood Lane, Springfield, MO 65801. He is employed as a paralegal by a local law firm. For 2018, he reported the following receipts. S 80,000 Salary Interest income Money market account at Omni Bank Savings account at Bosne State Bank City of Springfield general purpose bonds 300 1,100 4400 3,000 Inheritance from Daniel 60,000 Life insurance proceeds 200,000 Amount from sale of St. Louis lot 80,000 Proceeds from estate sale 9,000 Federal income tax refund (for 2017 tax overpayment) 700 In 2018, Logan inherited securities worth $60,000 from his deceased uncle, Daniel. Logan also was the designated beneficiary of an insurance policy with a maturity value of $200,000. The lot in St. Louis was purchased on May 2, 2013, for $85,000 and held as an investment. As the neighborhood has deteriorated, Logan decided to cut his losses and sold the lot on January 5, 2018, for $80,000. The estate sale consisted largely of items belonging to Sara and Daniel (e.g., camper, boat, furniture, and fishing and hunting equipment. Logan estimates that the property sold originally cost at least twice the $9,000 he received and has declined or stayed the same in value since Sara and Daniel died. on Daniel's life Logan's other 2018 expenditures include the following Medical expenses (including $10,500 for dental services) $11,500 Taxes State of Missouri income tax (includes withhold ings) Property taxes on personal residence Interest on home mortgage Contribution to church (paid pledges for 2018 and 2019) $4,200 4,500 8.70 5,600 4,800 Logan and his dependents were covered by his employer's health insurance policy for all of 2018. However, he is subject to a deductible, and dental care is not included. The $10,500 dental charge widowed mother, who lives with him (see below). Logan normally pledges $2,400 ($200 per month) each year to his church. On December 5, 2018, upon the advice of his pastor, he prepaid his pledge for 2019. Logan's household, all of whom he supports, includes the following was for Helen's implants. Helen is Logan's Social Security Number Birth Date Logan Taylor (age 48) aylor (age 70) 08/30/1970 123-45-6787 23-45 Helen 80 01/13/194 Asher Taylor (age 23) 123-45-6783 07/18/1995 Mia Taylor (age 22) 123-45-6784 02/16/1996 Helen, Logan's mother, receives a modest Social Security benefit. Asher, a son, is a full-time student in dental school and earns $4,500 Mia, a daughter, does not work and is engaged to be married. part-time dental assistant. as a Part 1-Tax Computation Using the appropriate forms and schedules, compute Logan's 2018 Federal income tax. Federal income tax of $4,500 was withheld from his wages. If Logan has any overpayment on his income tax, he wants the refund sent to him. Assume that the proper amounts of Social Security and Medicare taxes were withheld. Logan does not want to contribute to the Presidential Election Campaign Fund