Nancy Woods, an advertising executive, earned a salary from XYZ Technology of $$136,000$ in $2022.$ Her employer withheld $$16,000$ in Federal income tax and $$4,400$ in state income tax. Nancy is divorced from her ex$-$husband, Greg, and has legal custody of her two children, Chris, age $15,$ and April, age $18.$ The divorce decree provides that Nancy is to receive the dependency deductions for the children. Chris lives with his father during summer vacation. Greg indicates that his expenses for Chris are $$5,500.$ Nancy can document that she spent $$8,500$ for Chris's support during $2022.$ Nancy provides all of April's support. Nancy's mother died on January $7,2022.$ Nancy inherited assets worth $$625,000$ from her mother. As the sole beneficiary of her mother's life insurance policy, Nancy received insurance proceeds of $$300,000.$ Her mother's cost basis for the life insurance policy was $$120,000.$ Nancy's favorite uncle gave her $$20,000$ for her birthday in May. On November $8,2022,$ Nancy sells for $$22,000$ Brown Co stock that she had purchased for $$24,000$ on December $5,2017.$ On December $1,2022,$ Nancy sold Eagle stock for $$13,500.$ She had acquired the stock on July $2,2018,$ for $$8,000.$ An examination of Nancy's records reveals that she received the following: $$ Interest income of $$2,500$ from First Savings Bank. $$ Interest income of $$5,300$ from Microsoft Corp bonds. $$ Groceries valued at $$750$ from Green Groceries for being the $100,000$th customer. $$ Qualified dividend income of $$1,800$ from Brown Co$.$ Interest income of $$6,000$ on City of Hackensack school bonds. $$ Alimony of $$16,000$ from Greg; divorce finalized in May $2020.$ Nancy tells you that she made the following payments during $2022$: $$ Charitable contributions of $$6,000$ to her church. $$ Mortgage interest on her residence of $$8,860$ to Wells Fargo Bank. $$ Property taxes of $$4,300$ on her residence. $$ $$1,000$ for landscaping expenses for residence. $$ Estimated Federal income taxes of $$2,800$ and estimated state income taxes of $$1,000.$ Medical expenses of $$5,000$ for her and $$800$ for Chris. In December, her medical insurance policy reimbursed $$1,500$ of her medical expenses. She had full$-$year health care coverage. $$ A $$600$ ticket for parking in a handicapped space. $$ Attorney's fees of $$300$ associated with unsuccessfully contesting the parking ticket. $$ Contribution of $$500$ to the campaign of a candidate for Senate .

REQUIRED:

CALCULATE NANCY'S NET TAX PAYABLE OR REFUND DUE FOR $2022.$ Complete all required fields. You may make up Social Security numbers for Nancy and her dependents. $$ Complete all applicable schedules. You will need Form $1040,$ Schedules $1,$ A$,$ B$,$ D$,$ and Form $8812,$ which are attached. You may put any capital gains directly on Schedule D$.$  Don$$t worry about the specific line you put it on$,$ as long as it is in the correct section $($long$-$term vs short$-$term$).$ Make realistic assumptions about any missing data. $$ When computing the tax liability, do not round your immediate calculations. If required, round your final answers to the nearest dollar. $$ Use the Tax Rate Schedules to calculate the tax. You will also need to complete the Qualified Dividends and Capital Gain Tax Worksheet.