Question
During 2017, Cassandra Albright, who is single, worked part-time at a doctors 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 doctors office and received a W-2. She also had a cash-basis consulting practice that had the following income and expenses:
Revenue $ 48,000 Laptop computer purchased 4/23/17 ( 179 elected) 2,300 Travel 2,500 miles for business, 13,000 personal Supplies 500 Cell phone charge 540
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 $ 45,300 Federal withholding 4,983 Social security wages 45,300 Social security withholding 2,809 Medicare withholding 657 State withholding 2,265
Other income: 1099-INT Old Bank 2,300 1099-DIV Bake Co., Inc.Ordinary dividends 3,100 Qualified dividends 3,100 Cassandra had the following itemized deductions: State income tax withholding $ 2,265 State income tax paid with the 2016 return 350 Real estate tax 3,450 Mortgage interest 12,300 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 appropriate Tax Tables (2017 Tax Table).
(Input all the values as positive numbers. Use Rounded values for tax computation. Do not round other intermediate computations. Round your final answers to nearest whole dollar and percentage values to two decimal places.)
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