Question
During 2017, Cassandra Albright, who is single, worked part-time at a doctor's office and received a W-2. She also had a cash-basis consulting practice that
During 2017, Cassandra Albright, who is single, worked part-time at a doctor's office and received a W-2. She also had a cash-basis consulting practice that had the following income and expenses:
Revenue$48,000Laptop computer purchased 4/23/17 ( 179 elected)2,300Travel 2,500 miles for business, 13,000 personalSupplies500Cell phone charge540
Cassandra (SSN 412-34-5670) resides at 1400 Medical Street, Apt. 3A, Lowland, CA 92273. Professional code 622000. Her W-2 shows the following:
Wages$45,300Federal withholding4,983Social security wages45,300Social security withholding2,809Medicare withholding657State withholding2,265Other income:1099-INT Old Bank2,3001099-DIV Bake Co., Inc.Ordinary dividends3,100Qualified dividends3,100
Cassandra had the following itemized deductions:
State income tax withholding$2,265State income tax paid with the 2016 return350Real estate tax3,450Mortgage interest12,300
Cassandra made two federal estimated payments of $7,000 each on April 15 and June 15. She had qualifying health care coverage at all times during the tax year.
Prepare Form 1040 for Cassandra for 2017, including Schedule A, Schedule B, Schedule C, Schedule SE and Form 4562. Use the appropriateTax Tables.
(Input allthe values as positive numbers. Use Rounded values for tax computation. Do not round other intermediate computations. Round your final answers to nearest whole dollarandpercentage values to two decimal places.)
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