Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can you do completed forms of 2018 1040, schedule 1,A,B and form 8889? Bea's employer participate. During 2018, Bea paid the following amounts (all of

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Can you do completed forms of 2018 1040, schedule 1,A,B and form 8889?

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
Bea's employer participate. During 2018, Bea paid the following amounts (all of which can be substantiated); Home mortgage interest $8,700 2,300 Auto loan interest 820 State sales tax Property taxes on personal residence 3,233 Unreimbursed hospital bills 3,250 Doctor bills 2,612 Other deductible medical expenses 720 Income tax preparation fee 600 Job-hunting expenses 925 Contribution to IRA 2,500 In September 2018, Tropical Storm Yuri struck Gulfport and a tree fell on Bea's home. Bea acquired the home in February 2011 for $110,000. The estimated loss in mar. ket value from damage was equal to her repair charge of $7,800. The damage caused by TS Yuri was declared a federal disaster (code EM-1212). Bea's deductible was quite high and her insurance company only reimbursed her $1,200. Required: Complete Bea's federal tax return for 2018. Use Form 1040, Schedule A, Schedule B, and Form 4684 (if needed) to complete this tax return. Make realistic assumptions about any missing data. 28. John Fuji (birthdate June 6, 1980) moved from California to Washington in December 2017. His earnings and income tax withholding for 2018 for his job as a manager at a Washington apple-processing plant are 571-78-5974 CHINA BHS-08 PATTI LIE me . file 34-7654321 77,000.00 8,200.00 Granny Smith Apple Co. 77.000.00 4,774.00 200 Antanum Road Yakima, WA 98903 77,000.00 1.115.50 John Full 468 Bonnie Doon Avenue Yakima, WA 98902 WA W-2 Wage and Tax Statement 2018Form 1099-INT: John's other income includes interest on a Certificate of Deposit reported on a CORRECTED & checked Braeburn National Bank 1500 W. Nob Hill Bivd. Yakima, WA 98902 1,300.00 2018 54-9019016 571-78-5974 JOMA Fuji $ 0.00 468 Bonnie Doon Avg. Yakin, WA 98902 Also, in accordance with the 2012 divorce decree he paid $500 per month alimary to his ex-wife (Dora Fuji, Social Security number 573-79-6075). John received the following Form 1098 reporting mortgage interest and property tapes: CORRECTno [ chocked Eraobum National Bank 2018 Interest 1600 W. Nob Hill Bird. Statement Yakima, WA 98902 7.600.00 54-5019016 12/1/2017 571-78-5974 $ 255.342 00 John Fuji 468 Bonnie Doon Ave. Yakima, WA 96902 Prop. lakes $2.100. Deductices For and From AGI During 2018, John paid the following amounts (all of which can be substantiated); Auto loan interest 1,575 Credit card interest 655 State sales tax 1,285 Assisted living charges for Gala 5,250 Doctor bills 2,550 Other deductible medical expenses 760 Income tax preparation fee 500 Job-hunting expenses 925 Cash charitable donation to the Jonagold Research Center 400 John's employer offers a retirement plan, but John does not participate. Instead, he made a $4,000 contribution to a Roth IRA. John also provides 100 percent of the support for his mother, Gala Fuji (Social Se curity number 323-11-4455). Gala is chronically ill and lives in an assisted living facility in Yakima, Her only income is interest of about $400 on a modest savings account. Required: Complete John's federal tax return for 2018. Use Form 1040, Schedule 1, missing data. and Schedule A to complete this tax return. Make realistic assumptions about any SOFTWARE PROBLEM The following information is available for the Albert and Allison Gaytor family in addition to that provided in Chapters 1-4. Albert and Allison received the following form: CORRECTED if checked) "Caution: The amourd shows my OMB No. 1545-0101 Mortgage Vizcaya National Bank of ba luty deductible by you Limit piled on Fro loan around bepurged property may apply, AMO, 2018 Interest 9871 Coral Way Statement Miami, FL 33134GROUP 4: COMPREHENSIVE PROD 1. John Williams (birthdate August 2, 1975) is a single taxpayer. John's camings and withholdings as the manager of a local casino for 2018 are reported on his Form W-2 565-84-0358 de - file 31.1459656 195 800,CO Lucky Ace Casino 128,400 00 700 N. Sierra Street 195 800.00 Hand, NV 89803 John Williams 1324 Skywalker Drive Reno, NV 69501 NV W-2 Wages and Tax Statement 2018 Bank of $13,700. John's other income includes interest on a savings account at Nevada National John pays his ex-wife, Sarah McLoughlin, $3,900 per month in accordance with their 2012 divorce decree. When their 12-year-old child (in the ex-wife's custody) reaches the age of 18, the payments are reduced to $2,725 per month. His ex-wife's Social Security number is 554-44-5555. In 2018, John purchased a new car and so he kept track of his sales tax receipts during the year. His actual sales tax paid is $3,660, which exceeds the estimated amount per the IRS tables. John participates in a high-deductible health plan and is eligible to contribute to a health savings account. His HSA earned $125 in 2018. substantiated): During the year, John paid the following amounts (all of which can be Credit card interest $1,760 Auto loan interest 4,300 Auto insurance 900 Contribution to IRA 5,500 Property taxes on personal residence Contributions to HSA 2,640 Income tax preparation fee 2,800 900 Charitable contributions (all cash]: Boy Scouts St. Matthews Church 1,350 U. of Nevada (Reno) Medical School 3,100 26,900 Nevada Democratic Party 250 Fund-raising dinner for the Reno Auto Museum 100 (value of dinner is $25)John also received the following Form 1098: 1CORRECTED of chickoo 2018 Mortgage Reso Bank & Trust Interest 49 Commerce Street 15 1090 Statement Rone, NV 59501 18.956.78 COPY B For Parul $ 592.700.00 03/01/2002 555-94-9356 39-1234559 154 Sorewalser Drive RING, NV 89501 Required: Complete John's federal tax return for 2018. Use Form 1040, Schedule 1, Schedule A, Schedule B, and Form 8889 to complete this tax return. Make realistic assumptions about any missing data. 24. Bea Jones (birthdate March 27, 1984) moved from Texas to Florida in December 2017. She lives at 654 Ocean Way, Gulfport, FL 33707. Bea's Social Security number is 456-78-7359 and she is single. Her earnings and income tax withholding for 2018 for her job as a manager at a Florida shrimp-processing plant are: Earnings from the Gulf Shrimp Co. Federal income tax withheld $43,200 State income tax withheld 4,600 Bea's other income includes interest on a savings account at Beach National Bank of $2,200 and $600 per month alimony from her ex-husband in accordance with their 2010 divorce decree

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Cases An Active Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

2nd Edition

0130674842, 978-0130674845

Students also viewed these Accounting questions

Question

Can all assets and loans be securitized? Explain your answer.

Answered: 1 week ago