Julie Hernandez is single and has no dependents. She operates a dairy farm and her Social Security number is 000-00-1111. She lives at 1325 Vermont Street in Costa, Florida. Consider the following information for the current year: . Schedule C was prepared by her accountant and the net profit from the dairy operations is $48,000. Itemized deductions amount to $4,185 . Dividend income (qualified dividend) amounts to $280. . State income tax refund received during the year is $125. She did not itemize last year. . In June, a burglar broke into her house and stole the following two assets, which were acquired in 1988: Basis FMV Insurance Proceeds Received $9,000 Paintin Sculpture $2,000 1,700 $10,000 1,500 The following assets used in her business were sold during the year: OriginalDepreciation to Date of Date of Sale Selling Price Date Cost Sale $25,000 90,000 15,000 20,000 8,300 87,000 27,000 21,000 $25,000 61,000 Tractor Barn Land Cows June 10, 2006 May 23, 1996 May 23, 1996 Sept 7, 2014 Oct 20 May 13 May 13 13,000 In August, three acres of the farm were taken by the state under the right of eminent domain for the purpose of building a highway. The basis of the three acres is $1,500, and the state paid the FMv $22,000, on February 10. The farm was purchased on August 12, 1986. Nonrecaptured net Section 1231 losses from the five most recent tax years preceding the current year amount to $7,000. Estimated taxes paid during the year amount to $32,000. Prepare Forms 1040, 4684 Section A, 4797, and Schedule D. (Do not consider the alternative minimum tax or self-employment taxes)