Question
America Los Rios (age 36) is a single taxpayer, living at 4700 Oak Drive, Sacramento, CA 95841. Her Social Security number is 976-23-5132. America's earnings
America Los Rios (age 36) is a single taxpayer, living at 4700 Oak Drive, Sacramento, CA 95841. Her Social Security number is 976-23-5132. America's earnings and income tax withholding as the manager of a local supermarket store for 2016 are:
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America's other income includes qualifying dividends on American River Corporation stock of $4,400 and interest on a long-term certificate of deposit at Bank of Sacramento of $5,205.
During the year, America paid the following amounts (all of which can be substantiated):
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In her spare time, America trades stocks and bonds. During the year, she sold several stocks and received a Form 1099-B, which showed the following:
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Required:
Complete America's federal tax return for 2016. Use Form 1040, Schedule A, Schedule B, Schedule D, Form 8949, and the Qualified Dividends and Capital Gain Tax Worksheet to complete this tax return (she is not subject to Alternative Minimum Tax). Make realistic assumptions about any missing data.
Click here to access the tax table to use for this problem.
If required, enter a "loss" as a negative number on the tax form. Do not enter deductions as negative numbers.
If an amount box does not require an entry or the answer is zero, enter "0". If required, round your answers to nearest dollar.
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