Question
Bea Jones (age 32) moved from Texas to Florida in December 2014. She lives at 654 Ocean Way, Gulfport, FL 33707. Beas Social Security number
Bea Jones (age 32) moved from Texas to Florida in December 2014. She lives at 654 Ocean Way, Gulfport, FL 33707. Beas Social Security number is 466-78-7359 and she is single. Her earnings and income tax withholding for 2015 for her job as a manager at a Florida shrimp-processing plant are:
Earnings from the Gulf Shrimp Co. | $42,175 |
Federal income tax withheld | 7,800 |
State income tax withheld | 0 |
Beas other income includes interest on a savings account at Beach National Bank of $2,175 and $620 per month alimony from her ex-husband.
During 2015, Bea paid the following amounts (all of which can be substantiated):
Home mortgage interest | $9,600 |
Auto loan interest | 2,300 |
Property taxes on personal residence | 3,233 |
Unreimbursed hospital bills | 3,250 |
Doctor bills | 2,564 |
Other medical expenses | 720 |
Income tax preparation fee | 600 |
Job-hunting expenses | 925 |
Union dues | 800 |
In July 2015, someone broke into Beas house and stole a diamond ring. The diamond ring had a fair market value of $11,000 and a tax basis to Bea of $7,700. The ring was uninsured.
Required: Complete Beas federal tax return for 2015. Use Form 1040, Schedule A, Schedule B, and Form 4684, to complete this tax return. Make realistic assumptions about any missing data.
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