Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Keisha Sanders, a divorced single taxpayer, and practicing attorney, lives at 9551 Oak Leaf Lane in Pine Cove, AZ 86035. Her social security number is

Keisha Sanders, a divorced single taxpayer, and practicing attorney, lives at 9551 Oak Leaf Lane in Pine Cove, AZ 86035. Her social security number is 412-34-5670 (date of birth 2/27/1972). Keisha had qualifying health care coverage at all times during the tax year.

Her W-2 contained the following information:

Wages (box 1) = $ 83,401.55
Federal W/H (box 2) = $ 9,782.15
Social security wages (box 3) = $ 83,401.55
Social security W/H (box 4) = $ 5,170.90
Medicare wages (box 5) = $ 83,401.55
Medicare W/H (box 6) = $ 1,209.32

In addition, Keisha made alimony payments totaling $9,600 for the year to her former husband Alex, an unemployed mine worker, whose social security number is 412-34-5671.

She also received a 1099 INT from Pine Cove Credit Union in the amount of $204.75.

Keisha also has the following information for her Schedule A, itemized deductions:

Interest expense
Home mortgage (qualified residence interest) $ 8,100
MasterCard (used exclusively for personal expenses and purchases) 425
Car loan (personal use) 600
Student loan interest 1,750
Taxes paid
State income tax withheld 2,950
State income tax deficiency (for 2014) 350
Real estate taxesprincipal residence 1,700
Personal property taxescar 75
Registration feecar 135
Medical expenses
Doctors fees 500
Prescription drugs 200
Vitamins and over-the-counter drugs 250
Dental implant to correct a bite problem 1,600
Health club fee 400
Charitable contributions
(all required documentation is maintained)
Cash:
Church 3,100
(made ratably throughout the year)
United Way 100
PBS annual campaign 200
Property:
Pine Cove Goodwillused clothing and household items
Date of donation November 15, 2016
Thrift shop value at date of donation 350
Purchase price of the items 1,300
Other
Investment publications 150
Tax return preparation fee 275
Business dues and subscriptions 350
Safe deposit box 75

Prepare a Form 1040, a student loan worksheet, a Schedule A, and a Form 8283 for Keisha using any other appropriate worksheets. (Input all the values as positive numbers.)

Use the appropriate Tax Tables.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit Security How To Plan Implement And Audit Netsuite Security

Authors: Zenobia Plautz

1st Edition

B0B5KQKXSY, 979-8840043851

More Books

Students also viewed these Accounting questions