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Debra Simon is a single taxpayer. She is employed as a corporate attorney and lives at 1400 Sand Dollar Circle, Sandville, FL 33868. Her social

Debra Simon is a single taxpayer. She is employed as a corporate attorney and lives at 1400 Sand Dollar Circle, Sandville, FL 33868. Her social security number is 412-34-5670. For tax year 2018, Debra had the following income information: Wages $ 155,000 Social security withholding 7,960.80 Medicare withholding 2,248 Federal income tax withheld 32,050 State income tax withheld 0 New Bank 1099-INT 5,500 Hope Bank 1099-INT 3,875 Debra had the following stock transactions during 2018. A 1099-B was received for the proceeds of each sale: Transaction Purchased Sold Proceeds Cost Sale Expenses 300 sh. IBM 01/05/11 5/11/18 $ 16,500 $ 14,100 $ 875 200 sh. SMI 01/05/11 5/15/18 41,000 41,800 2,050 100 sh. BMI 03/05/17 4/12/18 10,500 11,400 525 300 sh. ABC 07/05/18 9/15/18 16,500 14,100 825 300 sh. DDC 05/12/18 10/11/18 45,000 51,000 2,250 300 sh. PPC 01/05/11 5/11/18 5,000 2,800 250 4,000 sh. LLP Inherited 12/11/18 436,000 * 21,800 1,500 sh. QQM Inherited 5/11/18 41,325 * 2,066 * Debra inherited the LLP stock and the QQM stock when her father passed away on May 1, 2018. Debras father purchased the LLP stock in 1967 for $35,000. The FMV of the LLP stock at the date of death was $415,500. The QQM stock was purchased by Debras father on February 6, 2017, for $49,000. The FMV of the QQM stock at the date of death was $49,600. Debra also sold her wine collection for $38,000. She had purchased the wine on January 5, 2013, for a total of $19,000. Debra has a capital loss carryover from 2017 of $11,700: $3,000 short-term and $8,700 long-term. Debra rents a condo (no mortgage interest) and lives in Florida (no state income tax). Thus she claims the standard deduction. Complete the 2018 tax return for Debra Simon. You do not need to complete the loss carryover worksheet but do need to enter the carryover amount in the appropriate place on Schedule D. She wants to contribute to the presidential election campaign and does not want anyone to be a third-party designee. Debra had qualifying health care coverage at all times during the tax year. For any missing information, make reasonable assumptions. (List the names of the taxpayers and any income they receive in the order in which they appear in the problem. Input all the values as positive numbers unless otherwise stated in the forms. Instructions can be found on certain cells within the forms. Round all intermediate calculations and your final answers to the nearest whole dollar amount.)

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