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Complete tax form 1040. Do this problem on 2020 TAX Forms. 1:4-61 Alice Johnson, Social Security number 222-23-3334, is a single taxpayer and is employed
Complete tax form 1040. Do this problem on 2020 TAX Forms.
1:4-61 Alice Johnson, Social Security number 222-23-3334, is a single taxpayer and is employed as a secretary by State University of Florida. She has the following items pertaining to her income tax return for the current year: Received a $30,000 salary from her employer, who withheld $4,200 federal income tax. Received a gift of 1,000 shares of Ace Corporation stock with a $100,000 FMV from her mother . She also received $4,000 of cash dividends from the Ace Corporation. The dividends are qualified dividends. Received $1,000 of interest income on bonds issued by the City of Tampa. Received a regular stock dividend (nontaxable under Sec. 305) of 50 shares of Ace Corporation stock with a $5,000 FMV. Alice's employer paid $2,000 of medical and health insurance premiums on her behalf. Received $13,000 alimony from her ex-husband. They divorced in 2014. State University provided $60,000 of group term life insurance. Alice is 42 years old and is not a key employee. The table in the text is applicable. Received a $1,000 cash award from her employer for being designated the Secretary of the Year. Total itemized deductions are $10,000
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