Question
Danae Coleman is single and lives at 5411 Melbourne Avenue, Chicago, IL 60455. She is a supervisor and her SSN is 412-34-5670. Using the following
Danae Coleman is single and lives at 5411 Melbourne Avenue, Chicago, IL 60455. She is a supervisor and her SSN is 412-34-5670. Using the following information, complete her tax return for 2018:
Kimber Company W-2: | |||
Gross | $ | 90,000 | |
Social security tax | 5,580 | ||
Medicare tax | 1,305 | ||
Federal withholding tax | 16,300 | ||
State withholding tax | 2,700 | ||
Lee Company W-2: | |||
Gross | $ | 22,500 | |
Social security tax | 1,395 | ||
Medicare tax | 326 | ||
Federal withholding tax | 2,300 | ||
State withholding tax | 600 | ||
Danae has the following itemized deductions: | |||
Real estate tax | $ | 7,633 | |
Mortgage interest | 8,445 | ||
Charitable contributions | 3,000 | ||
Danae has the following investments: | |||
1099-INT (Bank 1) | $ | 2,510 | |
1099-DIV (Stock 1) | |||
Ordinary dividends | 2,389 | ||
Qualified dividends | 1,963 | ||
Capital gain distribution | 4,711 | ||
2017 short-term loss carryover | (1,000 | ) | |
Danae received a gift of 2,000 shares of FNP Inc. stock from her Aunt Jane on January 19, 2018. The basis of the shares to Aunt Jane was $4,300, and they had an FMV of $4,600 on the date of the gift. Aunt Jane purchased the stock on December 30, 2016. On June 30, 2018, Danae sold all the shares for $6,000.
Danae is an avid stamp collector and purchased a rare stamp on March 20, 2008, for $4,000. She sold the stamp for $6,000 on April 8, 2018.
Prepare Forms:
- 1040 PG 2
- Schedule 1
- Schedule A
- Schedule D PG1
- Schedule D PG2
- Form 8949
- Rate Gain
- Tax Worksheet PG1
- Tax Worksheet PG2
and all related schedules, forms, and worksheets for 2018. Danae does not donate to the presidential election campaign. Danae is a manager at Kimber Company and had qualifying health care coverage at all times during the tax year. (Indicate losses with minus sign and enter all other values as positive amounts.)
Use the appropriate Tax Tables and Tax Rate Schedules.
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