Question
Bea Jones (age 32) moved from Texas to Florida in December 2013. She lives at 654 Ocean Way, Gulfport, FL 33707. Bea's ss# 466-78-7359 and
Bea Jones (age 32) moved from Texas to Florida in December 2013. She lives at 654 Ocean Way, Gulfport, FL 33707. Bea's ss# 466-78-7359 and she is single. Her earnings and income tax withholding for 2014 for her job as a manager at Florida shrimp- processing plant are:
Earnings from the Gulf Shrimp Co- $42,000
Federal income tax withheld- 0
Bea's other income includes interest on savings account at Beach National Bank of $2,200 and $600 per month alimony from her ex-husband.
During 2014, Bea paid the following amounts (all of which can be substantiated)
Home mortgage interest- $9,700
auto loan interest- $2,300
property taxes on personal residence- $3,200
um-reimbursed hospital bills- $3,200
doctor bills- $2,550
other medical expenses- $720
income tax preparation fee- $600
job-hunting expenses- $925
union dues- $800
In July 2014, someone broke into Bea's house and stole a diamond ring. The diamond ring had a fair market value of $10,000 and a tax basis to Bea of $7,600. The ring was uninsured.
Required: Complete Bea's federal tax return for 2014. Use Form 1040, Schedule A, Schedule B, and Form 4684. Make realistic assumptions about missing data.
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