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Note: This problem is for the 2 0 2 2 tax year. Beth R . Jordan lives at 2 3 2 2 Skyview Road, Mesa,
Note: This problem is for the tax year.
Beth R Jordan lives at Skyview Road, Mesa, AZ She is a tax accountant with Mesa Manufacturing Company, Western Avenue, Mesa, AZ employer identification number She also writes computer software programs for tax practitioners and has a parttime tax practice. Beth is single and has no dependents. Beth was born on July and her Social Security number is She did not engage in any digital asset transactions during the year, and she wants to contribute $ to the Presidential Election Campaign Fund.
The following information is shown on Beth's Wage and Tax Statement Form W for
Line Description Amount
Wages, tips, other compensation $
Federal income tax withheld
Social Security wages
Social Security tax withheld
Medicare wages and tips
Medicare tax withheld
State Arizona
State wages, tips, etc.
State income tax withheld
During the year, Beth received interest of $ from Arizona Federal Savings and Loan and $ from Arizona State Bank. Each financial institution reported the interest income on a Form INT She received qualified dividends of $ from Blue Corporation, $ from Green Corporation, and $ from Orange Corporation. Each corporation reported Beth's dividend payments on a Form DIV
Beth received a $ income tax refund from the state of Arizona on April On her Federal income tax return, she used the standard deduction.
Fees earned from her parttime tax practice in totaled $ She paid $ to have the tax returns processed by a computerized tax return service.
On February Beth bought shares of Gray Corporation common stock for $ a share. On September Beth sold the stock for $ a share.
On January Beth acquired shares of Blue Corporation common stock for $ a share. She sold the stock on December for $ a share. Both stock transactions were reported to Beth on Form B; basis was not reported to the IRS.
Beth bought a used sport utility vehicle for $ on June She purchased the vehicle from her brotherinlaw, who was unemployed and was in need of cash. On November she sold the vehicle to a friend for $
During the year, Beth records revenues of $ from the sale of a software program she developed. Beth incurred the following expenses in connection with her software development business.
Cost of personal computer $
Cost of printer
Furniture
Supplies
Fee paid to computer consultant
Beth elected to expense the maximum portion of the cost of the computer, printer, and furniture allowed under the provisions of These items were placed in service on January and used in her business.
Although her employer suggested that Beth attend an inperson conference on current developments in corporate taxation, Beth was not reimbursed for the travel expenses of $ she incurred in attending the meeting. The $ included $ for the cost of meals.
During the year, Beth paid $ for prescription medicines and $ for doctor bills and hospital bills. Medical insurance premiums were paid by her employer. Beth paid real property taxes of $ on her home. Interest on her home mortgage Valley National Bank was $ and credit card interest was $ Beth contributed $ in cash to various qualifying charities during the year. Professional dues and subscriptions totaled $
Beth paid estimated taxes of $
Required:
Compute Beth Jordans Federal income tax payable or refund due and complete her tax return using appropriate forms and schedules and the Qualified Dividends and Capital Gain Tax Worksheet.
Make realistic assumptions about any missing data.
If an amount box does not require an entry or the answer is zero, enter
Enter all amounts as positive numbers, unless instructed otherwise.
It may be necessary to complete the tax schedules before completing Form
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 Schedule provided. Do not use the Tax Tables. line tax i need answer?
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