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How do you complete Form 1040 and accompanying schedules for Alice Johnson's 2014 return with the following information in the document? Alice Johnson, Social Security
How do you complete Form 1040 and accompanying schedules for Alice Johnson's 2014 return with the following information in the document?
Alice Johnson, Social Security number 222-23-3334, is a single taxpayer and is employed as a secretary by State University of Florida. She has the following items pertaining to her income tax return for the current year: Received a $20,000 salary from her employer, who withheld $3,000 federal income tax. Received a gift of 1000 shares of Ace Corporation stock with a $100,000 FMV from her mother. She also received $4,000 of cash dividends from the Ace Corporation. The dividends are qualified dividends. Received $1,000 of interest income on bonds issued by the City of Tampa. Received a regular stock dividend (nontaxable under Sec. 305) of 50 shares of Ace Corporation stock with a $5,000 FMV. Alice's employer paid $2,000 of medical and health insurance premiums on her behalf. Received $12,000 alimony from her ex-husband. State University provided $60,000 of group term life insurance. Alice is 42 years old and is not a key employee. The table in the text is applicable. Received a $1,000 cash award from her employer for being designated the Secretary of the Year. Total itemized deductions are $8,000. Complete Form 1040 and accompanying schedules for Alice Johnson's 2014 returnStep by Step Solution
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