Question
Janis Blakeley is single and lives at 5411 Melbourne Avenue, Chicago, IL 60455. Her SSN is 412-34-5670. Using the following information, complete her tax return
Janis Blakeley is single and lives at 5411 Melbourne Avenue, Chicago, IL 60455. Her SSN is 412-34-5670. Using the following information, complete her tax return for 2014: Kimber Company W-2: Gross $90,000 Social security tax 5,580 Medicare tax 1,305 Federal withholding tax 17,100 State withholding tax 2,700 Lee Company W-2: Gross $22,500 Social security tax 1,395 Medicare tax 326 Federal withholding tax 2,250 State withholding tax 600 Janis has the following itemized deductions: Real estate tax $7,633 Mortgage interest 8,445 Charitable contributions 3,000 Janis has the following investments: 1099-INT (Bank 1) 2,510 1099-DIV (Stock 1) Ordinary dividends 2,389 Qualified dividends 1,963 Capital gain distribution 4,711 2013 short-term loss carryover (1,000) Janis received a gift of 2,000 shares of FNP Inc. stock from her Aunt Jane on January 19, 2014. The basis of the shares to Aunt Jane was $4,300, and they had an FMV of $4,600 on the date of the gift. Aunt Jane purchased the stock on December 30, 2013. On June 30, 2014, Janis sold all the shares for $6,000. Janis is an avid stamp collector and purchased a rare stamp on March 20, 2006, for $4,000. She sold the stamp for $6,000 on April 8, 2014. Prepare Form 1040 and all related schedules, forms, and worksheets for 2014. Janis does not donate to the presidential election campaign.
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