Question
Dr. George E. Beeper is a single taxpayer. He lives at 45 Mountain View Dr. Apt. 321, Spokane, WA 99210. Dr. Beeper Social Security number
Dr. George E. Beeper is a single taxpayer. He lives at 45 Mountain View Dr. Apt. 321, Spokane, WA 99210. Dr. Beeper Social Security number is 775-88-9531. Dr. Beeper works for the Pine Medical Group and his earnings and income tax withholding for 2015 are:
Earnings from Pine Medical ----------------$115,845
Federal tax withheld --------------------------- 25,000
State tax withheld ---------------------------------- 0
Dr. Beeper owns a rental house located at 672 Lake Street, Spokane, WA 99212. The house rents for $1,000 per month and was rented for the entire year. The following are the related expenses for the rental house:
Real estate taxes ----------------------------$ 5,700
Mortgage interest ------------------------- 14,800
Insurance ------------------------------------- 1,000
Depreciation ---------------------------------- 0
Maintenance ----------------------------------- 973
Repairs ----------------------------------------- 450
The house was purchased July 5, 1981. Dr. Beeper handles all rental activates (e.g., rent collection, finding tenants, etc.) himself.
During May 2015, Dr. Beeper transferred $67,000 out of his Section 401(k) plan from a former employer (Elm Medical Group) to an individual retirement account with the Spokane State Bank. The transfer was made directly from the Section 401 (k) plan trustee to the Bank.
REQUIRED:
Complete Dr. Beeper federal tax return for 2015.
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