G 0 M Question 1 - FINAL EXAM - Connect https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fne... A FINAL EXAM Saved = M 1 Shelly Beaman (Social Security number 412-34-5670) is single and resides at 540 Front Street, Ashland, NC 27898. Shelly's W-2 wages Federal withholding Social Security wages Social Security withholding Medicare withholding State withholding 1099-INT New Bank 1099-DIV XYZ, Incorporated Ordinary dividends Qualified dividends Shelly had the following itemized deductions: $ 55,800 6,439 55,800 3,460 809 3,148 977 771 522 U + Mc Graw Hill Help Save & Exit Submit State income tax withholding (from W-2) State income tax paid with 2022 return Real estate tax Mortgage interest Charitable contributions $ 3,148 600 4,200 11,739 3,050 Shelly also started her own home design consulting business in March 2023. The results of her business operations (Cash basis) for 2023 follows: Gross receipts from clients Vehicle mileage Postage Office supplies State license fees Supplies Donc Inne e $ 158,773 21,000 business miles (2,100 per month) 32,000 total miles during the year 2016 Chevy Suburban Placed in service 03/01/23 (750) (1,500) (155) (5,300) < Prev 1 of 1 Next > W W zm x P x 7:10 AM 5/1/2024 G 0 M Question 1 - FINAL EXAM - Connect https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fne... A Saved (1,500) (155) Help " Save & Exit Submit = M FINAL EXAM i 1 Office supplies State license fees Supplies Professional fees Design software Professional education programs (registration) Travel to education program Airplane Lodging $119 per night x 3 nights Meals per diem for a day Business Assets Laptop Computer Printer Copier Furniture Building Phone Internet service Rent Insurance + + Mc Graw Hill B Shelly made a $30,000 estimated tax payment on April 10, 2023. (5,300) (2,500) (1,000) (550) (350) 89 Date Purchased 6/08/23 Cost $ 2,500 3/05/23 5,700 3/01/23 1,800 6/02/23 1,700 4/01/23 5,000 3/01/23 175,000 (600) (450) (8,300) (1,700) Required: Prepare Shelly's Form 1040 for 2023, including all appropriate schedules. Schedule A, Schedule C, Form 4562, and Schedule SE are required. Section 179 is elected on all eligible assets in 2023. She wants to contribute to the presidential election campaign and does not want anyone to be a third-party designee. Shelly has not acquired any financial interest in virtual currency last year. For any missing information, make reasonable assumptions. Use the appropriate EIC Tables (6A-6, 6A-7, or 6A-8). Use the appropriate Tax Tables and Tax Rate Schedules. Note: 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 your intermediate computations and your final answers to the nearest whole dollar amount. Do not skip rows while entering in Other Expenses section of Schedule C and in Section B of Part III Form 4562. x < Prev 1 of 1 Next > e W W zm x P 7:19 AM 5/1/2024