Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant with Mesa Manufacturing Company, 1203 Western Avenue, Mesa, AZ 85201 (employer identification number 11- 1111111).

Cumulative Problems 38. Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant with Mesa Manufacturing Company, 1203 Western Avenue, Mesa, AZ 85201 (Employer Identification Number 11-1111111). She also writes computer software programs for tax practitioners and has a part-time tax practice. Beth is single and has no dependents. Beth was born on July 4, 1972, and her Social Security number is 123 45-6789. She wants to contribute $3 to the Presidential Election Campaign Fund. The following information is shown on Beth's 2018 Wage and Tax Statement (Form W-2). Description Amount $65,000.00 10 500.00 Wages, tips, other compensation Federal income tax withheld Social Security wages Social Securitax withheld Med me wage and tips Medicare tax withheld Sune State wages, tips, etc. State income tax withheld Other 2018 transactions include the following 65,000.00 4,030.00 65,000.00 9412.50 Arteona 65.000.00 14.00 Beth received interest of $1,300 from Arizona Federal Savings and Loan and $400 from Arizona State Bank. Each financial institution reported the interest income on a Form 1099 INT. She received qualified dividends of $500 from the Corporation, $750 from Green Corporation, and $650 from Orange Corporation. Each corporation reported Beth's dividend payments on a Porn 1099 DIV. Beth received a $1,100 income tax refund from the state of Arena on April 29, 2016. On her 2017 Federal income tax retum, she reported total itemized deductions of $200, which Inchaded 200 of state income tax withheld by her employer Fees earned from her part time tax practice totaled so she paid $600 to have the tax retums processed by a computerized tax return service HEWLETT PACKARD State Arizona State wages, tips, etc 65,000.00 1954.00 State income tax withheld Other 2018 transactions include the following Beth received interest of $1,300 from Arizona Federal Savings and Loan and $400 from Arizona State Bank. Each financial institution reported the interest income on a Form 1099 INT. She received qualified dividends of $800 from Blue Corporation, $750 from Green Corporation, and $650 from Orange Corporation. Each corporation reported Beth's dividend payments on a Form 1099-DIV. Beth received a $1,100 income tax refund from the state of Arizona on April 29, 2016. On her 2017 Federal income tax return, she reported total itemized deductions of $8,200, which included $2,200 of state income tax withheld by her employer. Fees earned from her part-time tax practice totaled $3,800. She paid $600 to have the tax returns processed by a computerized tax return service On February 8, Beth bought soo shares of Gray Corporation common stock for $17.60 a share. On September 12, Beth sold the stock for $H a share Beth bought a used sport Utility vehicle for $6,000 on June S. She purchased the vehicle from her brother-in-law, who was unemployed and was in need of cash On November 2, she sold the vehicle to a friend for $6,500 On January 2, Beth acquired 100 shares of Blue Corporation common stock for $30 a share She sold the stock on December 19 for $5 a share Beth records revenues of $16.000 from the f o o tware program she developed, Beth incurred the following expendit n e con with software development Cost of personal computer (100 Cost of printer (100s business ) 2000 1000 Fee paid to computer consultant furniture allowed under the provisions of $179. These items were placed in service on HEWLETT-PACKARD On February, Beth boughtsoo shares of Gray Corporation common stock for share. On September 12, Beth sold the stock for $14 a share. Beth bought a used sport utility vehide for $6,000 on June 5. She purchased the vehicle from her brother-in-law, who was unemployed and was in need of cash on November 2, she sold the vehicle to a friend for $6,500 On January 2, Beth acquired 100 shares of Blue Corporation common stock for $30 a share She sold the stock on December 19 for a share Beth records revenues of $16,000 from the sale of a software program she developed, Beth incurred the following expenditures in connection with her software development business Cost of personal computer (100% business use) Cost of printer (100% business ) Furniture 57.000 2.000 2.000 Fee paid to computer consultant Beth elected to deduct the maximum portion of the cost of the computer, printer, and furniture allowed under the provisions of 5 179. These items were placed in service on January 15 and used 100 percent in her business Although her employer u sted that Beth attend a convention on current developments in corporate taxation, Beth was not reimbursed for the travel expenses of t h e incurred in attending the conference. The $1.420 included $200 for business meals. Beth paid $300 for prescription medicines and in physician and hospital be Medical insurance premiums were paid by her employer Beth paid real property taxes of $1,766 on her home. Interest on her home more at Valley National Bank was , and interest paid to credit card companies oled Beth contributed $2,080 to various qualified charities during the year. Professional des and sections tocado Beth paid $1,000 in estimated Federal income taxes throughout the year. She was covered for the entire year by Mesa Manufacturing health insurance policy Part Tax Computation Compute the 2018 met tax payable or refund or for Beth a n HEWLETT-PACKARD meurred the following expenditures in connection with her software development business Cost of personal computer (100% business use) 57.000 Cost of printer (100% business use) 2,000 Furniture 3,000 Supplies 650 Fee paid to computer consultant 3.500 Beth elected to deduct the maximum portion of the cost of the computer, printer, and furniture allowed under the provisions of 179. These items were placed in service on January 15 and used 100 percent in her business. Although her employer suggested that Beth attend a convention on current developments in corporate taxation, Beth was not reimbursed for the travel expenses of $1,420 she incurred in attending the conference. The $1,420 included $200 for business meals. Beth paid $300 for prescription medicines and $2,875 in physician and hospital bills. Medical insurance premiums were paid by her employer. Beth paid real property taxes of $1,766 on her home. Interest on her home more at Valley National Bank was $3,845, and interest paid to credit card companies totaled $120. Beth contributed $2,080 to various qualified charities during the year. Professional dues and subscriptions totaled $350. Beth paid $1,000 in estimated Federal income taxes throughout the year. She was covered for the entire year by Mesa Manufacturing's health insurance policy Part 1 - Tax Computation Compute the 2018 net tax payable or refund due for Beth R. Jordan Part 2 Tax Planning Beth is anticipating significant changes in her life in 2019, and she has asked you to estimate her taxable income and tax liability for that year. She just received word that she has been qualified to adopt a two-year-old daughter. Beth expect that the adoption will be finalized in 2019 and that he will incur approximately $2,000 of adoption expenses. In addition, she expects to incur approximately $3,500 of child and dependent care expenses relating to the care of her new t er, which will be her to keep her job at Mesa However, with the additional demands on her time because of her daughter, she has WARD Beth paid $300 for prescription medicines and $2,875 in physician and hospital bills Medical insurance premiums were paid by her employer. Beth paid real property taxes of $1,766 on her home. Interest on her home mortgage at Valley National Bank was $MS, and interest paid to credit card companies totaled $20 Beth contributed $2,080 to various qualified charities during the year. Professional dues and subscriptions totaled $350. Beth paid $1,000 in estimated Federal income taxes throughout the year. She was covered for the entire year by Mesa Manufacturing's health insurance policy. Part 1-Tox Computation Compute the 2018 net tax payable or refund due for Beth R. Jordan Part 2--Tax Planning Beth is anticipating significant changes in her life in 2019, and she has asked you to estimate her taxable income and tax liability for that year. She just received word that she has been qualified to adopt a two-year-old daughter. Beth expects that the adoption will be finalized in 2019 and that she will incur approximately $2,000 of adoption expenses. In addition, she expects to incur approximately $3,500 of child and dependent care expenses relating to the care of her new daughter, which will enable her to keep her job at Mesa Manufacturing However, with the additional demands on her time because of her daughter, she has decided to discontinue her two part-time jobs le, the part-time tax practice and her software business), and she will cease making estimated income tax payments. In your computations, assume that all other income and expenditures will remain at approximately the same levels as in 2018 39. Tim and Sarah Lawrence are married and file a joint retum Tim's Social Security number is 123-45-6789, and Sarah's Social Security number is 111-11-1112. They reside at 100 Olive Lane, Covington, LA 70434. They have two dependent children, Sean and Debra, respectively. Sean's Social Security number is 12345-67, and Debra's Social Security 2 and 16, Tim is self-employed as the sole proprietor of an unincorporated business, and Sarah is a corporate executive. The reports the following 2018 income and expenses from his HEWLETT PACKARD Cumulative Problems 38. Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant with Mesa Manufacturing Company, 1203 Western Avenue, Mesa, AZ 85201 (Employer Identification Number 11-1111111). She also writes computer software programs for tax practitioners and has a part-time tax practice. Beth is single and has no dependents. Beth was born on July 4, 1972, and her Social Security number is 123 45-6789. She wants to contribute $3 to the Presidential Election Campaign Fund. The following information is shown on Beth's 2018 Wage and Tax Statement (Form W-2). Description Amount $65,000.00 10 500.00 Wages, tips, other compensation Federal income tax withheld Social Security wages Social Securitax withheld Med me wage and tips Medicare tax withheld Sune State wages, tips, etc. State income tax withheld Other 2018 transactions include the following 65,000.00 4,030.00 65,000.00 9412.50 Arteona 65.000.00 14.00 Beth received interest of $1,300 from Arizona Federal Savings and Loan and $400 from Arizona State Bank. Each financial institution reported the interest income on a Form 1099 INT. She received qualified dividends of $500 from the Corporation, $750 from Green Corporation, and $650 from Orange Corporation. Each corporation reported Beth's dividend payments on a Porn 1099 DIV. Beth received a $1,100 income tax refund from the state of Arena on April 29, 2016. On her 2017 Federal income tax retum, she reported total itemized deductions of $200, which Inchaded 200 of state income tax withheld by her employer Fees earned from her part time tax practice totaled so she paid $600 to have the tax retums processed by a computerized tax return service HEWLETT PACKARD State Arizona State wages, tips, etc 65,000.00 1954.00 State income tax withheld Other 2018 transactions include the following Beth received interest of $1,300 from Arizona Federal Savings and Loan and $400 from Arizona State Bank. Each financial institution reported the interest income on a Form 1099 INT. She received qualified dividends of $800 from Blue Corporation, $750 from Green Corporation, and $650 from Orange Corporation. Each corporation reported Beth's dividend payments on a Form 1099-DIV. Beth received a $1,100 income tax refund from the state of Arizona on April 29, 2016. On her 2017 Federal income tax return, she reported total itemized deductions of $8,200, which included $2,200 of state income tax withheld by her employer. Fees earned from her part-time tax practice totaled $3,800. She paid $600 to have the tax returns processed by a computerized tax return service On February 8, Beth bought soo shares of Gray Corporation common stock for $17.60 a share. On September 12, Beth sold the stock for $H a share Beth bought a used sport Utility vehicle for $6,000 on June S. She purchased the vehicle from her brother-in-law, who was unemployed and was in need of cash On November 2, she sold the vehicle to a friend for $6,500 On January 2, Beth acquired 100 shares of Blue Corporation common stock for $30 a share She sold the stock on December 19 for $5 a share Beth records revenues of $16.000 from the f o o tware program she developed, Beth incurred the following expendit n e con with software development Cost of personal computer (100 Cost of printer (100s business ) 2000 1000 Fee paid to computer consultant furniture allowed under the provisions of $179. These items were placed in service on HEWLETT-PACKARD On February, Beth boughtsoo shares of Gray Corporation common stock for share. On September 12, Beth sold the stock for $14 a share. Beth bought a used sport utility vehide for $6,000 on June 5. She purchased the vehicle from her brother-in-law, who was unemployed and was in need of cash on November 2, she sold the vehicle to a friend for $6,500 On January 2, Beth acquired 100 shares of Blue Corporation common stock for $30 a share She sold the stock on December 19 for a share Beth records revenues of $16,000 from the sale of a software program she developed, Beth incurred the following expenditures in connection with her software development business Cost of personal computer (100% business use) Cost of printer (100% business ) Furniture 57.000 2.000 2.000 Fee paid to computer consultant Beth elected to deduct the maximum portion of the cost of the computer, printer, and furniture allowed under the provisions of 5 179. These items were placed in service on January 15 and used 100 percent in her business Although her employer u sted that Beth attend a convention on current developments in corporate taxation, Beth was not reimbursed for the travel expenses of t h e incurred in attending the conference. The $1.420 included $200 for business meals. Beth paid $300 for prescription medicines and in physician and hospital be Medical insurance premiums were paid by her employer Beth paid real property taxes of $1,766 on her home. Interest on her home more at Valley National Bank was , and interest paid to credit card companies oled Beth contributed $2,080 to various qualified charities during the year. Professional des and sections tocado Beth paid $1,000 in estimated Federal income taxes throughout the year. She was covered for the entire year by Mesa Manufacturing health insurance policy Part Tax Computation Compute the 2018 met tax payable or refund or for Beth a n HEWLETT-PACKARD meurred the following expenditures in connection with her software development business Cost of personal computer (100% business use) 57.000 Cost of printer (100% business use) 2,000 Furniture 3,000 Supplies 650 Fee paid to computer consultant 3.500 Beth elected to deduct the maximum portion of the cost of the computer, printer, and furniture allowed under the provisions of 179. These items were placed in service on January 15 and used 100 percent in her business. Although her employer suggested that Beth attend a convention on current developments in corporate taxation, Beth was not reimbursed for the travel expenses of $1,420 she incurred in attending the conference. The $1,420 included $200 for business meals. Beth paid $300 for prescription medicines and $2,875 in physician and hospital bills. Medical insurance premiums were paid by her employer. Beth paid real property taxes of $1,766 on her home. Interest on her home more at Valley National Bank was $3,845, and interest paid to credit card companies totaled $120. Beth contributed $2,080 to various qualified charities during the year. Professional dues and subscriptions totaled $350. Beth paid $1,000 in estimated Federal income taxes throughout the year. She was covered for the entire year by Mesa Manufacturing's health insurance policy Part 1 - Tax Computation Compute the 2018 net tax payable or refund due for Beth R. Jordan Part 2 Tax Planning Beth is anticipating significant changes in her life in 2019, and she has asked you to estimate her taxable income and tax liability for that year. She just received word that she has been qualified to adopt a two-year-old daughter. Beth expect that the adoption will be finalized in 2019 and that he will incur approximately $2,000 of adoption expenses. In addition, she expects to incur approximately $3,500 of child and dependent care expenses relating to the care of her new t er, which will be her to keep her job at Mesa However, with the additional demands on her time because of her daughter, she has WARD Beth paid $300 for prescription medicines and $2,875 in physician and hospital bills Medical insurance premiums were paid by her employer. Beth paid real property taxes of $1,766 on her home. Interest on her home mortgage at Valley National Bank was $MS, and interest paid to credit card companies totaled $20 Beth contributed $2,080 to various qualified charities during the year. Professional dues and subscriptions totaled $350. Beth paid $1,000 in estimated Federal income taxes throughout the year. She was covered for the entire year by Mesa Manufacturing's health insurance policy. Part 1-Tox Computation Compute the 2018 net tax payable or refund due for Beth R. Jordan Part 2--Tax Planning Beth is anticipating significant changes in her life in 2019, and she has asked you to estimate her taxable income and tax liability for that year. She just received word that she has been qualified to adopt a two-year-old daughter. Beth expects that the adoption will be finalized in 2019 and that she will incur approximately $2,000 of adoption expenses. In addition, she expects to incur approximately $3,500 of child and dependent care expenses relating to the care of her new daughter, which will enable her to keep her job at Mesa Manufacturing However, with the additional demands on her time because of her daughter, she has decided to discontinue her two part-time jobs le, the part-time tax practice and her software business), and she will cease making estimated income tax payments. In your computations, assume that all other income and expenditures will remain at approximately the same levels as in 2018 39. Tim and Sarah Lawrence are married and file a joint retum Tim's Social Security number is 123-45-6789, and Sarah's Social Security number is 111-11-1112. They reside at 100 Olive Lane, Covington, LA 70434. They have two dependent children, Sean and Debra, respectively. Sean's Social Security number is 12345-67, and Debra's Social Security 2 and 16, Tim is self-employed as the sole proprietor of an unincorporated business, and Sarah is a corporate executive. The reports the following 2018 income and expenses from his HEWLETT PACKARD