Hello, i need help with the Paige Turner 2015 Case, the attached Document is all the information needed for the case and the following are the questions i need answered. Please help as i am struggling to get this done.

QUESTION 1

1. 1. In the Comprehensive Individual Tax Return Problem for Paige Turner (Base case-2015), what is the Net Form W-2 Wages?

2 points

QUESTION 2

1. In the Comprehensive Individual Tax Return Problem for Paige Turner (Base case-2015), what is the miscellaneous income?

2 points

QUESTION 3

1. In the Comprehensive Individual Tax Return Problem for Paige Turner (Base case-2015), what is the Schedule B interest and dividend income?

2 points

QUESTION 4

1. In the Comprehensive Individual Tax Return Problem for Paige Turner (Base case-2015), what is the Schedule C trade or business net income?

2 points

QUESTION 5

1. In the Comprehensive Individual Tax Return Problem for Paige Turner (Base case-2015), what is the Schedule D capital gain or (loss)?

2 points

QUESTION 6

1. In the Comprehensive Individual Tax Return Problem for Paige Turner (Base case-2015), what is the Schedule E net rental income or (loss)?

2 points

QUESTION 7

1. In the Comprehensive Individual Tax Return Problem for Paige Turner (Base case-2015), what is the Adjusted Gross Income?

2 points

QUESTION 8

1. In the Comprehensive Individual Tax Return Problem for Paige Turner (Base case-2015), what is the total itemized deduction for taxes?

2 points

QUESTION 9

1. In the Comprehensive Individual Tax Return Problem for Paige Turner (Base case-2015), what is the total itemized deduction for interest expense?

2 points

QUESTION 10

1. In the Comprehensive Individual Tax Return Problem for Paige Turner (Base case-2015), what is the total itemized deduction for charitable contributions?

2 points

QUESTION 11

1. In the Comprehensive Individual Tax Return Problem for Paige Turner (Base case-2015), what is the total itemized deductions?

2 points

QUESTION 12

1. In the Comprehensive Individual Tax Return Problem for Paige Turner (Base case-2015), what is the number of personal and dependent exemptions which can be claimed?

2 points

QUESTION 13

1. In the Comprehensive Individual Tax Return Problem for Paige Turner (Base case-2015), what is the Taxable Income?

2 points

QUESTION 14

1. In the Comprehensive Individual Tax Return Problem for Paige Turner (Base case-2015), what is the ordinary tax liability? (4 points)

4 points

QUESTION 15

1. In the Comprehensive Individual Tax Return Problem for Paige Turner (Base case-2015), what is the tax liability for the long-term capital gains and qualified dividends?

2 points

QUESTION 16

1. In the Comprehensive Individual Tax Return Problem for Paige Turner (Base case-2015), what is the tax liability for the self-employment tax? (4 points)

4 points

QUESTION 17

1. In the Comprehensive Individual Tax Return Problem for Paige Turner (Base case-2015), what is the tax liability for the kiddie tax?

2 points

QUESTION 18

1. In the Comprehensive Individual Tax Return Problem for Paige Turner (Base case-2015), what is the balance due or (tax refund)?

INDIVIDUAL TAX RETURN PROBLEM 6 Required: Use the following information to complete Paige Turner's 2013 federal income tax return. If information is missing, use reasonable assumptions to fill in the gaps. Any required forms, schedules, and instructions can be found at the IRS Web site (www.irs.gov). The instructions can be helpful in completing the forms. Facts: 1. Paige Turner is single and has two children from her previous marriage. Ali lives with Paige, and Paige provides more than half of her support. Leif lives with his father, Will (Lief lived with Will for all of 2013). Will provides more than half of Leif's support. Paige pays \"alimony\" of $400 per month to Will. The payments are to continue until Leif reaches age 18, when they will be reduced to $150. Paige provides you with the following additional information: She uses the cash method of accounting and a calendar year for reporting. She wishes to contribute to the presidential election campaign. Paige lives at 523 Essex Street, Bangor, ME 04401. Page C-10 Paige's birthday is May 31, 1975. Ali's birthday is October 5, 2004. Leif's birthday is December 1, 2002. Paige's Social Security number is 007164727. Ali's Social Security number is 005617232. Leif's Social Security number is 004233419. Will's Social Security number is 006456333. She does not have any foreign bank accounts or trusts. 12. Paige is employed as a nuclear engineer with Atom Systems Consultants, Inc. (ASCI). ASCI's federal employer identification number is 791234466. Her annual salary is $70,000. ASCI has an extensive fringe benefits program for its employees. Paige's pay stubs indicate that she had $7,230 withheld in federal taxes, $4,987 in state taxes, $4,495 in Social Security taxes, and $1,051 in Medicare taxes. 13. Paige received salary of $70,000 (before subtracting her 401(k) and flexible spending plan contributions). She contributed $7,000 to her 401(k) account, and she contributed $3,600 to her flexible spending account. 14. ASCI paid $397 of whole life insurance premiums to cover Paige's personal whole life insurance policy. ASCI also paid health club dues of $900 to a nearby health club on Paige's behalf. 15. Taking advantage of ASCI's educational assistance program, during the fall Paige enrolled in two graduate engineering classes at a local college. ASCI paid her tuition, fees, and other courserelated costs of $2,300. 16. Paige received free parking in the company's security garage that would normally cost $200 per month. 17. Paige manages the safety program for ASCI. In recognition of her superior handling of three potential crises during the year, Paige was awarded the Employee Safety Award on December 15. The cash award was $500. 18. On January 15, 2013, Paige's father died. From her father's estate, she received stock valued at $30,000 (his basis was $12,000) and her father's house valued at $90,000 (his basis in the house was $55,000). 19. Paige owns several other investments and in February 2014 received a statement from her brokerage firm reporting the interest and dividends earned on the investments for 2013. (See Exhibit A.) 20. In addition to the investments discussed above, Paige owns 1,000 shares of Grubstake Mining & Development common stock. Grubstake is organized as an S corporation and has 100,000 shares outstanding (S corp. ID number 454567890). Grubstake reported taxable income of $200,000 and paid a distribution of $1.00 per share during the current year. Paige tells you that Grubstake typically does not send out its K1 reports until late April. However, its preliminary report has been consistent with the K1 for many years. (See Exhibit A.) Paige does not materially participate in Grubstake's activities. 21. Paige slipped on a wet spot in front of a computer store last July. She broke her ankle and was unable to work for two weeks. She incurred $1,300 in medical costs, all of which were paid by the owner of the store. The store also gave her $1,000 for pain and suffering resulting from the injury. ASCI continued to pay her salary during the two weeks she missed because of the accident. ASCI's plan also paid her $1,200 in disability pay for the time she was unable to work. Under this plan ASCI pays the premiums for the disability insurance as a taxable fringe benefit. Replace \"2011\" with \"2013\" I couldn't edit it EXHIBIT A Forms 1099 and 1098 Page C-11 22. Paige received a Form 1099B from her broker for the sale of the following securities during 2012. The adjusted basis amounts were reported to the IRS. Sale Purchase Sales Commission Paid on Her Security Date Date Price Sale Basis Nebraska state 03/14/13 10/22/07 $2,300 $160 $1,890 bonds Cassill Corp (500 10/20/13 02/19/12 $8,500 $425 $9,760 shares) 23. In addition to the taxes withheld from her salary, she also made timely estimated federal tax payments of $175 per quarter and timely estimated state income tax payments of $150 for the first three quarters. The $150 fourthquarter state payment was made on December 28, 2013. Paige would like to receive a refund for any overpayment. 24. Because of her busy work schedule, Paige was unable to provide her accountant with the tax documents necessary for filing her 2012 state and federal income tax returns by the due date (April 17, 2013). In filing her extension on April 17, 2013, she made a federal tax payment of $750. Her return was eventually filed on June 25, 2013. In August 2013, she received a federal refund of $180 and a state tax refund of $60. Her itemized deductions for 2012 were $12,430. 25. Paige found a renter for her father's house on August 1. The monthly rent is $400, and the lease agreement is for one year. The lease requires the tenant to pay the first and last months' rent and a $400 security deposit. The security deposit is to be returned at the end of the lease if the property is in good condition. On August 1, Paige received $1,200 from the tenant per the terms of the lease agreement. In November, the plumbing froze and several pipes burst. The tenant had the repairs made and paid the $300 bill. In December, he reduced his rental payment to $100 to compensate for the plumbing repairs. Paige provides you with the following additional information for the rental in 2013. Property taxes Other maintenance expenses Insurance expense Management fee Depreciation (to be computed) $770 285 495 350 ? Page C-12 The rental property is located at 35 Harvest Street, Orono, ME 04473. Local practice is to allocate 12 percent of the fair market value of the property to the land. (See #8.) Paige makes all decisions with respect to the property. 26. Paige paid $2,050 in real estate taxes on her principal residence. The real estate tax is used to pay for town schools and other municipal services. 27. Paige drives a 2012 Acura TL. Her car registration fee (based on the car year) is $50 and covers the period 1/1/13 through 12/31/13. In addition, she paid $280 in property tax to the state based on the book value of the car. 28. In addition to the medical costs presented in #11, Paige incurred the following unreimbursed medical costs: Dentist $310 Doctor 390 Prescription drugs 215 Over-the-counter drugs 140 Optometrist 125 Emergency room charges 440 LASIK eye surgery 2,000 Chiropractor 265 29. On March 1, Paige took advantage of low interest rates and refinanced her $75,000 home mortgage with her original lender. The new home loan is for 15 years. She paid $215 in closing costs and $1,500 in discount points (prepaid interest) to obtain the loan. The house is worth $155,000, and Paige's basis in the house is $90,000. As part of the refinancing arrangement, she also obtained a $10,000 homeequity loan. She used the proceeds from the homeequity loan to reduce the balance due on her credit cards. Paige received several Form 1098 statements from her bank for interest paid by her in 2011. Details appear below. (See also Exhibit A on page C11.) Primary home mortgage $7,10 0 Home-equity loan 435 Credit cards 498 Car loan 390 30. On May 14, 2013, Paige contributed clothing to the Salvation Army. The original cost of the clothing was $740. She has substantiation valuing the donation at $360. The Salvation Army is located at 350 Stone Ridge Road, Bangor, ME 04401. In addition, she made the following cash contributions and received a statement from each of the following organizations acknowledging her contribution: Larkin College $850 United Way 125 First Methodist Church 790 Amos House (homeless 200 shelter) Local Chamber of Commerce 100 Page C-13 31. On April 1, 2013, Paige's house was robbed. She apparently interrupted the burglar because all that's missing is an antique brooch she inherited from her grandmother (June 12, 2006) and $300 in cash. Unfortunately, she didn't have a separate rider on her insurance policy covering the jewelry. Therefore, the insurance company reimbursed her only $500 for the brooch. Her basis in the brooch was $6,000, and its fair market value was $7,500. Her insurance policy also limits to $100 the amount of cash that can be claimed in a theft. 32. Paige sells real estate in the evening and on weekends. She runs her business from a rental office she shares with several other realtors (692 River Road Bangor, ME 04401). The name of her business is Turner Real Estate and the federal identification number is 058799561. Her business code is 531210. Paige has been operating in a businesslike way since 2003 and has always shown a profit. She had the following income and expenses from her business: Commissions earned $21,250 Expenses: Advertising 2,200 Telephone 95 Real estate license 130 Rent 6,000 Utilities 600 33. She has used her Acura TL in her business since July 1, 2013. During 2013, she properly documented 6,000 business miles (1,000 miles each month). The total mileage on her car (i.e., business and personaluse miles) during the year was 15,000 miles (including 200 miles commuting to and from the real estate office). In 2013, Paige elects to use the standard mileage method to calculate her car expenses. She spent $45 on tolls and $135 on parking related to the real estate business. 34. Paige's company has an accountable expense reimbursement plan for employees from which Paige receives $12,000 for the following expenses: Airfare $4,700 Hotel 3,400 Meals 2,000 Car rentals 600 Entertainmen 900 t Incidentals 400 35. During 2013, Paige also paid $295 for business publications other than those paid for by her employer and $325 for a local CPA to prepare her 2012 tax return