{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T04:35:39-04:00", "answer_date": "2024-06-28 04:35:39", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4238993", "url": "\/study-help\/questions\/individual-tax-return-problem-required-use-the-following-information-to-4238993", "question_creation_date_js": "2024-06-28T04:35:39-04:00", "question_creation_date": "Jun 28, 2024 04:35 AM", "meta_title": "[Solved] INDIVIDUAL TAX RETURN PROBLEM Required: U | SolutionInn", "meta_description": "Answer of - INDIVIDUAL TAX RETURN PROBLEM Required: Use the following information to complete Rhonda Hill's 2014 federal income ta | SolutionInn", "meta_keywords": "individual,tax,return,problem,required,information,complete,rhonda,hill,s,2014,federal", "question_title_h1": "INDIVIDUAL TAX RETURN PROBLEM Required: Use the following information to complete Rhonda Hill's 2014 federal income tax return. If information is missing, use reasonable assumptions", "question_title": "INDIVIDUAL TAX RETURN PROBLEM Required: Use the following information to complete Rhonda", "question_title_for_js_snippet": "INDIVIDUAL TAX RETURN PROBLEM Required Use the following information to complete Rhonda Hill's 2014 federal income tax return If 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 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, OK 74101 Rhonda's birthday is 12 18 1949 and her Social Security number is 335 67 8910 Mabel's birthday is 11 2 1941 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) Rhonda received a Form W 2 from Carter and Associates (her employer) that contained 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, OK 74101 its FEIN is 91 0001002 and its State ID number is 123456678 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 Page C 5 Rhonda sold 200 shares of DM stock for $18 a share on June 15, 2014 She purchased the stock on December 12, 2009, for $10 a share She also sold 50 shares of RSA stock for $15 a share on October 2, 2014 She purchased the stock for $65 a share on February 2, 2014 Stock basis amounts have been reported to the IRS The following is a record of the medical expense 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 2014 Insurance premiums $3,700 Prescription medications 100 Over the counter medications 250 Doctor and dentist visits 1,450 Eyeglasses 300 Physical therapy 200 Rhonda paid $2,800 in mortgage interest during the year to UCU credit union (reported to her on Form 1098) She also paid $1,200 in real property taxes during the year Rhonda contributed $2,350 to Heavenly Church during the year Heavenly Church's address is 1342 Religion Way, Tulsa, OK 74101 IEB Wireframe 1 of 2 http textflow mheducation com parser php secload bm 3 3 fake print INDIVIDUAL TAX RETURN PROBLEM 3 Required Use the following information to complete Rhonda Hill's 2014 federal income tax return If 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, OK 74101 Rhonda's birthday is 12 18 1949 and her Social Security number is 335 67 8910 Mabel's birthday is 11 2 1941 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 contained the following information Line 1 Wages, tips, other compensation Line 2 Federal income tax withheld Line 3 Social Security wages Line 4 Social Security tax withheld Line 5 Medicare wages and tips Line 6 Medicare tax withheld $72,000 9,300 72,000 4,464 72,000 1,044 11 29 2016 12 56 PM IEB Wireframe 2 of 2 http textflow mheducation com parser php secload bm 3 3 fake print Line 16 State wages, tips, etc 72,000 Line 17 State income tax 2,700 Carter and Associates address is 1234 CPA Way Tulsa, OK 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 Page C 5 4 Rhonda sold 200 shares of DM stock for $18 a share on June 15, 2014 She purchased the stock on December 12, 2009, for $10 a share She also sold 50 shares of RSA stock for $15 a share on October 2, 2014 She purchased the stock for $65 a share on February 2, 2014 Stock basis amounts have been reported to the IRS 5 The following is a record of the medical expense 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 2014 Insurance premiums $3,700 Prescription medications 100 Over the counter medications 250 Doctor and dentist visits 1,450 Eyeglasses 300 Physical therapy 200 6 Rhonda paid $2,800 in mortgage interest during the year to UCU credit union (reported to her on Form 1098) She also paid $1,200 in real property taxes during the year 7 Rhonda contributed $2,350 to Heavenly Church during the year Heavenly Church's address is 1342 Religion Way, Tulsa, OK 74101 11 29 2016 12 56 PM", "question_description": "

<\/p>

INDIVIDUAL TAX RETURN PROBLEM <\/p>

Required:<\/p>