Jane Smith, age 40, is single and has no dependents. She is employed as a legal secretary by Legal Services, Inc. She owns and operates Typing Services located near the campus of Florida Atlantic University at 1986 Campus Drive. Jane is a material participant in the business. She is a cash basis taxpayer. Jane lives at 2020 Oakcrest Road, Boca Raton, FL 33431. Jane's Social Security number is 123-45-6789. Jane indicates that she wants to designate $3 to the Presidential Election Campaign Fund. Jane had health insurance for all months of 2018. During 2018, Jane had the following income and expense items:

a.$100,000 salary from Legal Services, Inc.b.$20,000 gross receipts from her typing services business.c.$700 interest income from Third National Bank.d.$1,000 Christmas bonus from Legal Services, Inc.e.$60,000 life insurance proceeds on the death of her sister.f.$5,000 check given to her by her wealthy aunt.g.$100 won in a bingo game.h.Expenses connected with the typing service:Office rent$7,000Supplies4,400Utilities and telephone4,680Wages to part-time typists5,000Payroll taxes500Equipment rentals3,000i.$9,500 interest expense on a home mortgage (paid to San Jose Savings and Loan).j.$15,000 fair market value of silverware stolen from her home by a burglar on October 12, 2018. Jane had paid $14,000 for the silverware on July 1, 2008. She was reimbursed $10,000 by her insurance company.k.Jane had loaned $2,100 to a friend, Joan Jensen, on June 3, 2014. Joan declared bankruptcy on August 14, 2018, and was unable to repay the loan. Assume that the loan is a bona fide debt.l.Legal Services, Inc., withheld Federal income tax of $15,000 and the appropriate amount of FICA tax from her wages.m.Alimony of $10,000 received from her former husband, Ted Smith; divorce was finalized in 2012, and no changes have been made to the divorce decree since that time.n.Interest income of $800 on City of Boca Raton bonds.o.Jane made estimated Federal tax payments of $2,000.p.Sales taxes from the sales tax table of $946.q.Property taxes on her residence of $3,200.r.Charitable contribution of $2,500 to her alma mater, Citrus State College.s.on November 1, 2018, Jane was involved in an automobile accident. At the time of the accident, Jane's automobile had an FMV of $45,000. After the accident, the automobile's FMV was $38,000. Jane acquired the car at a cost of $52,000. Jane's car was covered by insurance, but because the policy had a $5,000 deduction clause, Jane decided not to file a claim for the damage.

Required:

Compute Jane Smith's 2018 Federal income tax payable (or refund due) by providing the requested information that would be reported on Form 1040, Schedule A, Schedule C, Schedule D and Form 4684.

• Make realistic assumptions about any missing data.
• If an answer is zero, enter "0".
• Enter all amounts as positive numbers.
• When computing the tax liability, do not round your immediate calculations. If required round your final answers to the nearest dollar.