Kai Sato is single and lives at 5411 Melbourne Avenue, Chicago, IL 60455. Kai is a manager and whose SSN is 412-34-5670. Using the
Kai Sato is single and lives at 5411 Melbourne Avenue, Chicago, IL 60455. Kai is a manager and whose SSN is 412-34-5670. Using the following information, complete Kai's tax return for 2021: Kimber Company W-21 Gross Social security tax Medicare tax Federal withholding tax State withholding tax Lee Company W-2: Gross Social security tax Medicare tax $ 90,000 5,580 1,305 16,300 2,700 $ 22,500 1,395 Federal withholding tax State withholding tax Kai has the following itemized deductions: Real estate tax Mortgage interest Charitable contributions Kai has the following investments: 1099-INT 1099-DIV Ordinary dividends Qualified dividends Capital gain distribution 2020 short-term loss carryover 326 2,300 600 $ 7,633 8,445 3,000 $ 2,510 2,389 1,963 4,711 (1,000) She also has received interest from a 1099-INT of $2,510 from Second National Bank and a dividend from a Form 1099-DIV of $2,389 in ordinary dividends received from XYZ brokerage, of which $1,963 are considered qualified dividends. Kai received a gift of 2,000 shares of FNP Incorporated stock from Aunt Jane on January 19, 2021. 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, 2019. On June 30, 2021, Kai sold all the shares for $6,000. Kai is an avid stamp collector and purchased a rare stamp on March 20, 2011, for $4,000. Kai sold the stamp for $6,000 on April 8, 2021. Required: Prepare Form 1040 and all related schedules, forms, and worksheets for 2021. Kai does not donate to the presidential election campaign. Kai is a manager at Kimber Company and had qualifying health care coverage at all times during the tax year. Use the appropriate Tax Tables and Tax Rate Schedules. Note: Indicate losses with minus sign and enter all other values as positive amounts. Round your final answers to nearest whole dollar. 1040 for a Single taxpayer with no dependents. 1040 PG 1 1040 PG 2 Schedule A Schedule B Schedule D Schedule D Form 8949 28 percent PG 1 PG 2 PG 2 Rate Gain Worksheet Tax Worksheet PG1 Tax Worksheet PG2 Page 1 of Form 1040. Use provided information and follow instructions on form. IRS Use Only-Do not write or staple in this space Form 1040 Department of the Treasury-Internal Revenue Service (99) U.S. Individual Income Tax Return 2021 OMB No. 1545-0074 Osingle Married filing jointly OMarried filing separately (MFS) Head of household (HOH) Filing Status Check only one box OQualifying widow(er) (QW) If you checked the MFS box, enter the name of your spouse. If you checked the HOH or QW box, ander the child's name if the qualifying person is a child but not your dependent Your first name and middle initial If joint return, spouse's first name and middle initial Home address (number and street). If you have a PO box, see instructions City, town, or post office. If you have a foreign address, also complete spaces below Last name Last name Apartment number Your social security number (Enter as xxx-xx-xxxx) Spouse's social security number (Enter as xx-xx-xxxx) Presidential Election Campaign Check here if you, or your spouse if fing jointly want $3 to go to this fund Checking a box below will not change your tax or refund You Spouse Foreign country name Foreign province/state/county Foreign postal code At any time during 2021, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency No Check my
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