Individual Tax Return Project (using 2022 numbers)
Rachel Hill (unmarried) is employed as an office manager at the main office of Carter and Associates CPA firm. Rachel lives in a home she purchased 20 years ago. Rachel's older cousin Mara Wright lives with Rachel in the home. Mara is retired and receives $2,400 of Social Security payments each year. Mara is able to save this money because Rachel provides all of Mara's support. Rachel also provided the following information: Rachel does not want to contribute to the presidential election campaign . Rachel lives at 1234 Blue Ridge Way, Tulsa, Oklahoma 74101. Rachel's birthday is 12/18/1958 and her Social Security number is 335-67-8910. Mara's birthday is 11/2/1949 and her Social Security number is 566-77-8899. Rachel does not have any foreign bank accounts or trusts. Rachel 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& Social Security wages Line 4 Social Security tax withheld Line 5 Medicare wages and tips Line 6 Medicare tax withheld Line 16 State wages, tips etc. Line 17 State income tax Carter and Associates address is 1234 CPA Way Tulsa, Oklahoma 74101; its FEIN is 91-0001002; and its State ID number is 123456678 $72,000 7,800 72,000 4,464 72,000 1,044 72,000 2,700
1. Rachel Fill (unmanied) is employed as an office manager at the main office of Carter and Associates CRA firm. Rachel lives in a home she purchased 20 years ago. Rachel's older cousin Mara Wright tives with Rachel in the home. Mara is retired and receives S2,400 of Social Security payments each year. Mara is ablets save this money because Rachel provides all of Mara's support. Rachel also provided the following information: - Rachel does not want to contribute to the presidential election campaign. - Rachel lives at 1234 Blue Ridge Way, Tulsa, Oklahoma 74101. - Rachel's bithday is 12/18/1958 and her Social Security number is 335-67-8910. - Marn's birthday is 11/2/1949 and her Social Security number is 566-77-8899. - Rachel does not have any foreign bank accounts or trusts. 2. Rachel reecived a Form W-2 from Carter and Associates (her employer) that contained the following informntion: - Eine 1 Wages, tips, other compensation. - Line 2 Federal income tax withheld - Iine 3 Social Security wages - Line 4 Social Security tax withheld - Line 5 Medicare wages and tips - Line 6 Medicare tax withheld - Line 16 State wages, tios, etc. - Line 17 State income tax I $72,000 7,800 72,000 4,464 72,000 1,044 72,000 2,700 - Gater and Associates address is 1234 CPA Way Tulsa, Otahoma 74101; its FEN is 91-0001002; and its State ID number is 123456678 3. Rachel received 5250 in interest from Tulsa City bonds, S120 interest from IBM bonds, and 515 from her savings account at UCU Gredit Union. She also received a 5460 dividend from Huggies Company and $500 from Bicker Corporation. Both dividends are qualified dividends. 4. Rachel sold 200 shares of DM stock for S18 a share on June 15,2022 . She purchased the stock on December 12, 2014, for $10 a shate. She also sold 50 shares of RSA stock for and S15 from her savings account at UCU Credit Union. She also received a S460 dividend from Ruggies Company and $500 from Bicker Corporation. Both dividends are qualified dividends. 4. Rachel sold 200 shares of DM stock for $18 a share on June 15,2022 . She purchased the stock on December 12, 2014, for S10 a share. She also sold 50 shares of RSA stock for $15 a share on October 2, 2022. She purchased the stock for $65 a share on February 2, 2022. Stock basis amounts and proceeds have been reported to the IRS with no adjustments required. 5. The following is a record of the medical expenses that Rachel paid for herself during the year. The amounts reported are amounts she paid in excess of insurance reimbursements. Rachel drove 210 miles for medical puposes uniformly over 2022. Insurance premiums Prescription medications $3,700 100 6. Rachel paid 56,800 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. Rachel contributed S5,400 to Heavenly Church during the year. Heavenly Church's address is 1342 Religion Way, Tulsa, Okhhoma 74101. 8. Rachel did not buy, sell, exchange, or otherwise acquire any financial interest in a vitual curencyd 1. Rachel Hill (unmarried) is employed as an office manager at the main office of Carter and Associates CPA firm. Rachel lives in a home she purchased 20 years ago. Rachel's older cousin Mara Wright lives with Rachel in the home. Mara is retired and receives $2,400 of Social Security payments each year. Mara is.able to save this money because Rachel provides all of Mara's support. Rachel also provided the following information: - Rachel does not want to contribute to the presidential election campaign. - Rachel lives at 1234 Blue Ridge Way, Tulsa, Oklahoma 74101. - Rachel's birthday is 12/18/1958 and her Social Security number is 335-67-8910. - Mara's birthday is 11/2/1949 and her Social Security number is 566-77-8899. - Rachel does not have any foreign bank accounts or trusts. 2. Rachel 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 - Line 16 State wages, tips, etc. - Line 17 State income tax $72,000 7,800 72,000 4,464 72,000 1,044 72,000 2,700 - Carter and Associates address is 1234 CPA Way Tulsa, Oklahoma 74101; its FENN is 91-0001002; and its State ID number is 123456678 3. Rachel 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 S460 dividend from Huggies Company and $500 from Bicker Corporation. Both dividends are qualified dividends. 4. Rachel sold 200 shares of DM stock for $18 a share on June 15,2022 . She purchased the stock on December 12, 2014, for $10 a share. She also sold 50 shares of RSA stock for Focus dividend from Huggies Company and $500 from Bicker Corporation. Both dividends are qualified dividends. 4. Rachel sold 200 shares of DM stock for $18 a share on June 15,2022 . She purchased the stock on December 12, 2014, for $10 a share. She also sold 50 shares of RSA stock for $15 a share on October 2, 2022. She purchased the stock for $65 a share on February 2, 2022. Stock basis amounts and proceeds have been reported to the IRS with no adjustments required. 5. The following is a record of the medical expenses that Rachel paid for herself during the year. The amounts reported are amounts she paid in excess of insurance reimbursements. Rachel drove 210 miles for medical purposes uniformly over 2022. Insurance premiums Prescription medications $3,700 100 6. Rachel 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. Rachel contributed \$5,400 to Heavenly Church during the year. Heavenly Church's address is 1342 Religion Way, Tulsa, Oklahoma 74101. 8. Rachel did not buy, sell, exchange, or otherwise acquire any financial interest in a virtual currency
