Question
Brenda Carlyle attended San Diego State University during 20122016. She incurred education expenses of $10,000 in total for her education, and $1,500 of that amount
Brenda Carlyle attended San Diego State University during 20122016. She incurred education expenses of $10,000 in total for her education, and $1,500 of that amount was incurred in 2016 for her last semester. To finance her education, she borrowed $7,000 through a federal student loan program and borrowed another $3,000 from San Diego Credit Union for educational purposes. After graduation, she accepted a position with the Dallas office of Deloitte and moved there in May 2016. She lives at 4560 Ranchero Lane, Dallas, TX 75201. Her social security number is 412-34-5670 (date of birth 7/10/1994). Brenda had qualifying health care coverage at all times during the tax year.
Her W-2 contained the following information:
Wages (box 1) | = | $ | 67,533.05 |
Federal W/H (box 2) | = | $ | 8,994.95 |
Social security wages (box 3) | = | $ | 67,533.05 |
Social security W/H (box 4) | = | $ | 4,187.05 |
Medicare wages (box 5) | = | $ | 67,533.05 |
Medicare W/H (box 6) | = | $ | 979.23 |
In moving to Dallas, she incurred the following moving expenses:
$475 in gasoline. $295 for renting a truck from IGOTYA rentals. $75 in food. $410 for motel lodging on the way to Dallas.
She also received two Forms 1098-E. One was from the federal student loan program, which showed $450 of student loan interest; the other was from San Diego Credit Union and showed $150.75 of student loan interest.
Prepare a Form 1040, a Form 3903, a Form 8917, and a Student Loan Interest Deduction Worksheet. (Do not round your intermediate computations. Input all the values as positive numbers.)
Use the appropriate Tax Tables.
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