Complete Addison's 2020 Federal Income Tax Return, with all appropriate attachments and worksheets.

Addison Parker, single (as of 12/31/2020), and age 45, lives at 3218 Columbia Drive, Stockton, CA 95210. She is employed as a regional sales manager by VITA Corporation, a manufacturer and distributor of vitamins and food supplements. Addison was paid an annual salary of $80,000 in 2020.

Addison's Form W-2 stated $15,500 in federal income tax withheld, $4,960 in social security tax withheld, $1,160 in Medicare tax withheld, and $2,000 state income tax withheld. Addison itemized deductions on her 2019 Federal income tax return.

Addison bought 100 shares of General Electric stock on 1/1/2014 for $100,000. She sold all 100 shares of General Electric stock on 6/1/2020 for $65,000.

Addison had a rental house located at 1001 Main Street, Stockton, CA. She bought the rental house on 7/1/ 2010 for $200,000. Out of the $200,000 purchase price, $100,000 was allocated to the land, and $100,000 was allocated to the building.

The rental house had the following items of income and expense in 2020.

Rental Income $30,000 Property Tax $3,500 Interest on loan on rental house $3,000 Principal repayment on loan on rental house $2,000 Repairs $1,000

Travel to/from rental house to fix property 150 miles in total for year

Insurance $2,500

Fine from City of Stockton for trash on street $500

In addition to the above list, Addison purchased the following items that are to be included in the depreciation expense for the rental house:

1. Rental house. Purchased on 7/1/2010.
2. Air Conditioner purchased 3/1/2020 for $6,000. This is 5 year property. Neither Section 179 nor bonus depreciation was taken on this property.
3. Computer, 100% used for items related to the rental property, for $1,000 on 11/1/2020. This is 3 year property. Addison would like to take Section 179 and/or bonus depreciation if she qualifies.
4. Tools, used 75% of the time on the rental property, for $400 on 3/1/2020. This is 3 year property. Addison would like to take Section 179 and/or bonus depreciation if she qualifies.

In addition to what has already been listed, Addison had the following personal expenses in 2020:

Medical bills $2,000 Insurance on personal residence $2,000 Property tax on personal residence $3,000 Charitable contribution in cash $7,000 Interest on personal residence $8,000 Sales tax on personal purchases $2,000 Utilities on personal residence $2,500