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 2020:Kimber Company W-2:Gross $ 90,000Social security tax 5,580Medicare tax 1,305Federal withholding tax 16,300State withholding tax 2,700Lee Company W-2:Gross $ 22,500Social security tax 1,395Medicare tax 326Federal withholding tax 2,300State withholding tax 600Danae has the following itemized deductions: Real estate tax $ 7,633Mortgage interest 8,445Charitable contributions 3,000Danae has the following investments:1099-INT $ 2,5101099-DIVOrdinary dividends 2,389Qualified dividends 1,963Capital gain distribution 4,7112019 short-term loss carryover (1,000)She also has received interest from a 1099-INT of $2,510 from Asha Corporation Bank and a dividend from a Form 1099-DIV of $2,389 in ordinary dividends received from Mint brokerage, of which $1,963 are considered qualified dividends. Danae received 2,000 shares of FNP Incorporated stock from her Aunt Jane on January 19, 2020. 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, 2018. On June 30, 2020, Danae sold all the shares for $6,000.Danae is an avid stamp collector and purchased a rare stamp on March 20, 2010, for $4,000. She sold the stamp for $6,000 on April 8,
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