Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need to complete all related forms with 2018 tax rates. INDIVIDUAL TAX RETURN PROBLEM 3 the complice od 2018 tax return. If any information
I need to complete all related forms with 2018 tax rates.
INDIVIDUAL TAX RETURN PROBLEM 3 the complice od 2018 tax return. If any information is missing we e smiesten . The heade d the www. Facts: 1 Rhonda Hol a nd) is employed as an office per the main office of Carter and Associe CPA firm h a s been she purchased 20 years ago. Rhonda's older cousin Mabel Wright lives with Rhonda le the Mahal is retired and receives $2.400 of Social Security py scach yea Mihelise to save this money because hond provides of Mabel's appor honda Rhodia does not want to the declectice campaign - Rhonda tives1234 Blue Ridge W. Tulsa, Oklahoma 74101 the birthday is 1954 and her Social Secu ri 15632910 - Mesidy is 111965 and her Social Security is 77-H Rhond qualifying for 2. Rhonda received a Form W.2 from edhe following in Line I Wages, p er compensation the Affordable Care Act (ACA and Ancies heren Line 4 Social Security w wield + Line 6 Medicare tax withheld . Line 16 Stewas, tips. Line 17 Scatore Carter and Associates adress is 1234 CPA Way Tulsa, Oklahoma 74101: its FEINI OG 3. Rhonda received $250 in interest fro Tulsa City bodi 120 metru IM bonds, and $15 from her savings account at UCU Credit Union Se r ies 3460 dividend from Here Company and $500 from Bicker Corporation Bo dividends are qualified dividends. 4. Rhonda sold 200 shares of DM stock for $15 a share use 15. 2016. She purchased the stock on December 12, 2013, for $10 a share. She also sold 50 shares of RSA stock for $15 a share on October 2, 2018 She purchased Arc the stock for $65 a share on February 2, 2018 Stock basis amounts have been reported to the IRS. 5. The following is a record of the medical expenses that Rhonda paid for herself during the year. The amounts reported are amounts she paid in excess of reimbursements. Rhonda drove 210 miles for medical purposes in 2018 Insurance premium 5700 Prescription medications Over-the-counter medications Doctor and dentist visits 1450 Eyeglasses Physical therapy 6. Rhonda paid $6.00 in mortgage during the yew UCUCdinice reported to her Form 1095. She also paid $1.240 is mal property during the year 7. Rhonda cotid 5.400 Hewly Church during the year. Heavenly and address is 1342 Religion Way, Tue, Oklahoma 74101 I need to complete all related tax forms with 2018 tax rates. INDIVIDUAL TAX RETURN PROBLEM 3 Required: Use the following information to complete Rhonda Hill's 2018 federal income tax return. If any information is missing, use reasonable assumptions to fill in the gaps. The forms, schedules, and instructions can be found at the IRS website (www.irs.gov). The instructions can be helpful in completing the forms. Facts: 1. Rhonda Hill (unmarried) is employed as an office manager at the main office of Carter and Associates CPA firm. Rhonda lives in a home she purchased 20 years ago. Rhonda's older cousin Mabel Wright lives with Rhonda in the home. Mabel is retired and receives $2,400 of Social Security payments each year. Mabel is able to save this money because Rhonda provides all of Mabel's support. Rhonda also provided the following information: Rhonda does not want to contribute to the presidential election campaign. Rhonda lives at 1234 Blue Ridge Way, Tulsa, Oklahoma 74101. Rhonda's birthday is 12/18/1954 and her Social Security number is 335-67-8910. Mabel's birthday is 11/2/1945 and her Social Security number is 566-77-8899. Rhonda does not have any foreign bank accounts or trusts. Rhonda has qualifying insurance for purposes of the Affordable Care Act (ACA). 2. Rhonda received a Form W-2 from Carter and Associates (her employer) that con- tained the following information: Line 1 Wages, tips, other compensation $72,000 Line 2 Federal income tax withheld 9,300 Line 3 Social Security wages 72,000 Line 4 Social Security tax withheld 4,464 Line 5 Medicare wages and tips 72,000 Line 6 Medicare tax withheld 1,044 Line 16 State wages, tips, etc. 72,000 Line 17 State income tax 2,700 Carter and Associates address is 1234 CPA Way Tulsa, Oklahoma 74101: its FEIN is 91:0001002; and its State ID number is 123456678 3. Rhonda received $250 in interest from Tulsa City bonds, $120 interest from IBM bonds, and $15 from her savings account at UCU Credit Union. She also received a $460 dividend from Huggies Company and $500 from Bicker Corporation. Both dividends are qualified dividends. 4. Rhonda sold 200 shares of DM stock for $18 a share on June 15, 2018. She purchased the stock on December 12, 2013, for $10 a share. She also sold 50 shares of RSA stock for $15 a share on October 2, 2018. She purchased Appendix C the stock for $65 a share on February 2, 2018. Stock basis amounts have been reported to the IRS. 5. The following is a record of the medical expenses that Rhonda paid for herself during the year. The amounts reported are amounts she paid in excess of insurance reimbursements. Rhonda drove 210 miles for medical purposes in 2018. Insurance premiums $3,700 Prescription medications 100 Over-the-counter medications 250 Doctor and dentist visits 1,450 Eyeglasses 300 Physical therapy 6. Rhonda paid $6,800 in mortgage interest during the year to UCU credit union (reported to her on Form 1098). She also paid $1,240 in real property taxes during the year. 7. Rhonda contributed $5,400 to Heavenly Church during the year. Heavenly Church's address is 1342 Religion Way, Tulsa, Oklahoma 74101. 200 INDIVIDUAL TAX RETURN PROBLEM 3 the complice od 2018 tax return. If any information is missing we e smiesten . The heade d the www. Facts: 1 Rhonda Hol a nd) is employed as an office per the main office of Carter and Associe CPA firm h a s been she purchased 20 years ago. Rhonda's older cousin Mabel Wright lives with Rhonda le the Mahal is retired and receives $2.400 of Social Security py scach yea Mihelise to save this money because hond provides of Mabel's appor honda Rhodia does not want to the declectice campaign - Rhonda tives1234 Blue Ridge W. Tulsa, Oklahoma 74101 the birthday is 1954 and her Social Secu ri 15632910 - Mesidy is 111965 and her Social Security is 77-H Rhond qualifying for 2. Rhonda received a Form W.2 from edhe following in Line I Wages, p er compensation the Affordable Care Act (ACA and Ancies heren Line 4 Social Security w wield + Line 6 Medicare tax withheld . Line 16 Stewas, tips. Line 17 Scatore Carter and Associates adress is 1234 CPA Way Tulsa, Oklahoma 74101: its FEINI OG 3. Rhonda received $250 in interest fro Tulsa City bodi 120 metru IM bonds, and $15 from her savings account at UCU Credit Union Se r ies 3460 dividend from Here Company and $500 from Bicker Corporation Bo dividends are qualified dividends. 4. Rhonda sold 200 shares of DM stock for $15 a share use 15. 2016. She purchased the stock on December 12, 2013, for $10 a share. She also sold 50 shares of RSA stock for $15 a share on October 2, 2018 She purchased Arc the stock for $65 a share on February 2, 2018 Stock basis amounts have been reported to the IRS. 5. The following is a record of the medical expenses that Rhonda paid for herself during the year. The amounts reported are amounts she paid in excess of reimbursements. Rhonda drove 210 miles for medical purposes in 2018 Insurance premium 5700 Prescription medications Over-the-counter medications Doctor and dentist visits 1450 Eyeglasses Physical therapy 6. Rhonda paid $6.00 in mortgage during the yew UCUCdinice reported to her Form 1095. She also paid $1.240 is mal property during the year 7. Rhonda cotid 5.400 Hewly Church during the year. Heavenly and address is 1342 Religion Way, Tue, Oklahoma 74101 I need to complete all related tax forms with 2018 tax rates. INDIVIDUAL TAX RETURN PROBLEM 3 Required: Use the following information to complete Rhonda Hill's 2018 federal income tax return. If any information is missing, use reasonable assumptions to fill in the gaps. The forms, schedules, and instructions can be found at the IRS website (www.irs.gov). The instructions can be helpful in completing the forms. Facts: 1. Rhonda Hill (unmarried) is employed as an office manager at the main office of Carter and Associates CPA firm. Rhonda lives in a home she purchased 20 years ago. Rhonda's older cousin Mabel Wright lives with Rhonda in the home. Mabel is retired and receives $2,400 of Social Security payments each year. Mabel is able to save this money because Rhonda provides all of Mabel's support. Rhonda also provided the following information: Rhonda does not want to contribute to the presidential election campaign. Rhonda lives at 1234 Blue Ridge Way, Tulsa, Oklahoma 74101. Rhonda's birthday is 12/18/1954 and her Social Security number is 335-67-8910. Mabel's birthday is 11/2/1945 and her Social Security number is 566-77-8899. Rhonda does not have any foreign bank accounts or trusts. Rhonda has qualifying insurance for purposes of the Affordable Care Act (ACA). 2. Rhonda received a Form W-2 from Carter and Associates (her employer) that con- tained the following information: Line 1 Wages, tips, other compensation $72,000 Line 2 Federal income tax withheld 9,300 Line 3 Social Security wages 72,000 Line 4 Social Security tax withheld 4,464 Line 5 Medicare wages and tips 72,000 Line 6 Medicare tax withheld 1,044 Line 16 State wages, tips, etc. 72,000 Line 17 State income tax 2,700 Carter and Associates address is 1234 CPA Way Tulsa, Oklahoma 74101: its FEIN is 91:0001002; and its State ID number is 123456678 3. Rhonda received $250 in interest from Tulsa City bonds, $120 interest from IBM bonds, and $15 from her savings account at UCU Credit Union. She also received a $460 dividend from Huggies Company and $500 from Bicker Corporation. Both dividends are qualified dividends. 4. Rhonda sold 200 shares of DM stock for $18 a share on June 15, 2018. She purchased the stock on December 12, 2013, for $10 a share. She also sold 50 shares of RSA stock for $15 a share on October 2, 2018. She purchased Appendix C the stock for $65 a share on February 2, 2018. Stock basis amounts have been reported to the IRS. 5. The following is a record of the medical expenses that Rhonda paid for herself during the year. The amounts reported are amounts she paid in excess of insurance reimbursements. Rhonda drove 210 miles for medical purposes in 2018. Insurance premiums $3,700 Prescription medications 100 Over-the-counter medications 250 Doctor and dentist visits 1,450 Eyeglasses 300 Physical therapy 6. Rhonda paid $6,800 in mortgage interest during the year to UCU credit union (reported to her on Form 1098). She also paid $1,240 in real property taxes during the year. 7. Rhonda contributed $5,400 to Heavenly Church during the year. Heavenly Church's address is 1342 Religion Way, Tulsa, Oklahoma 74101. 200 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started