Note: This problem is for the 2019 tax year. Beth R. Jordan Ilves at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant with Mesa Manufacturing Company, 1203 Western Avenue, Mesa, AZ 85201 (employer identification number 11-1111111). She also writes computer software programs for tax practitioners and has a part-time tax practice. Beth is single and has no dependents. Beth was born on July 4, 1973, and her Social Security number is 123-45-6785. She wants to contribute $3 to the Presidential Election Campaign Fund. The following information is shown on Beth's Wage and Tax Statement (Form W-2) for 2019. Line Description Amount 1 $65,000.00 2 9,500.00 3 Wages, tips, other compensation Federal income tax withheld Social Security wages Social Security tax withheld Medicare wages and tips Medicare tax withheld 4 5 6 65,000.00 4,030.00 65,000.00 942.50 Arizona 65,000.00 1,054.00 15 Stato State wages, tips, etc. 16 17 State income tax withheld During the year, Beth received interest of $1.300 from Arizona Federal Savings and Loan and $400 from Arizona State Bank. Each financial Institution reported the interest Income on a Form 1099-INT. She received qualified dividends of $800 from Blue Corporation, 5750 from Green Corporation, and $650 from Orange Corporation. Each corporation reported Beth's dividend payments on a Form 1099-DIV. Beth received a $1,100 income tax refund from the state of Arizona on April 29, 2019. On her 2018 Federal income tax retum, she used the standard deduction Fees earned from her part-time tax practice in 2019 totaled $3,800. She paid $600 to have the tax returns processed by a computerized tax return service On February 8, 2019, Beth bought 500 shares of Gray Corporation common stock for $17.60 a share. On september 12, 2019, Beth sold the stock for $14 a share: Beth bought a used sport utility vehicle for $6,000 on June 5, 2019. She purchased the vehicle from her brother-in-law, who was unemploved and was in need of cash. On November 2, 2019, she sold the vehicle to a friend for $6,500. On January 2, 2019, Beth acquired 100 shares of Blue Corporation common stock for $30 a share. She sold the stock on December 19. 2019. for $55 a share bel alquired 100 shares of Blue Corporation common stock for $30 a share. She sold the stock on December 19, 2019, for $55 a share. During the year, Beth records revenues of $15,000 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 $7,000 Cost of printer 2,000 Furniture 3,000 Supplies 650 Fee paid to computer consultant 3,500 Beth elected to expense the maximum portion of the cost of the computer, printer, and furniture allowed under the provisions of $ 179. These items were placed in service on January 15, 2019, and used 100% in her business. Although her employer suggested that Beth attend a convention on current developments in corporate taxation, Beth was not reimbursed for the travel expenses of $1,420 she incurred in attending the convention. The $1,420 included $200 for the cost of meals. During the year, Beth paid $300 for prescription medicines and $2,875 for doctor interest to credit card bills and hospital bills. Medical insurance premiums were paid for her by her employer. Beth paid real property taxes of $1,766 on her home. Interest on her home mortgage (Valley National Bank) was $3,845, and interest to credit card companies was $320. Beth contributed $2,080 to various qualifying charities during the year. Professional dues and subscriptions totaled $350. Beth paid estimated taxes of $1,000. Beth does not own or use any virtual currency Required: Compute the net tax payable or refund due for Beth R. Jordan for 2019. You will need Form 1040, (and its Schedules 1,2,3. B, C, D, and SE) and Forms 4562, 8995 and 8949 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 "o". Enter all amounts as positive numbers, unless instructed otherwise. . It may be necessary to complete the tax schedules before completing Form 1040. When computing the tax liability, do not round your immediate calculations. If required round your final answers to the nearest dollar. Use the 2019 Tax Rate Schedule provided. Do not use the Tax Tables. 1 Wages, salaries, tips, etc. Attach Form(s) W-2 1 65,000 2a Tax-exempt interest .. b 2a Taxable interest. Attach Sch. B if required 2b 1,700 3a Qualified dividends... 3a b Ordinary dividends. Attach Sch. B If required Bb 2,200 4a IRA distributions .. 4a b Taxable amount. 4b Pensions and annuities 4c d Taxable amount 4d 5a Social security benefits 5a b Taxable amount. 5b 6 Capital gain or loss). Attach Schedule Dif required. If not required, check here 6 1,200 Standard Deduction for Single or Married filing separately. $12,200 Married filing jointly or Qualifying widow(er). $24.400 Head of household, $18,350 If you checked any box under Standard Deduction, see instructions. 7a Other income from Schedule 1, line 9 7a b Add lines 1, 2, 3, 4, 40, 5b, 6, and 7a. This is your total income 7b sa Adjustments to income from Schedule 1, line 22 8a 8b b Subtract line 8a from line 7b. This is your adjusted gross income 9 Standard deduction or itemized deductions (from Schedule A) Qualified business income deduction. Attach Form 8995 or Form 8995-A. 9 10 10 11a Add lines 9 and 10. 11a b Taxable income. Subtract line 11a from line 8b. If zero or less, enter -- 11b BAA For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Form 1040 (2019) Form 1040 (2019) Beth R. Jordan 123-45-6785 Page 2 12a Tax (see inst.) Check if any from Form(s): 18814 2 4972 30 12a b Add Schedule 2, line 3, and line 12a and enter the total. 12b Form 1040 (2019) 123-45-6785 Beth R. Jordan 12a Tax (see Inst.) Check if any from Form(s): 108814 20 4972 30 Page 2 12a b Add Schedule 2, line 3, and line 12a and enter the total.. 12b 13a Child tax credit or credit for other dependents b Add Schedule 3, line 7, and line 13a and enter the total 13a 13b 14 Subtract line 13b from line 12b. If zero or less, enter-O- 14 15 Other taxes, including self-employment tax, from Schedule 2, line 10 15 16 Add lines 14 and 15. This is your total tax.. 16 17 Federal Income tax withheld from Forms W-2 and 1099 17 18a If you have a 18 Other payments and refundable credits: qualifying child, attach Sch. EIC. a Earned Income credit (EIC) If you have b Additional child tax credit. Attach Schedule 8812. nontaxable combat pay, see American opportunity credit from Form 8863, line 8. Instructions, d Schedule 3, line 14 18b 18c 18d e Add lines 18a through 18d. These are your total other payments and refundable credits 18e Refund 19 Add lines 17 and 18e. These are your total payments 19 20 If line 19 is more than line 16, subtract line 16 from line 19. This is the amount you overpaid 20 21a Amount of line 20 you want refunded to you. If Form 8888 is attached, check here 21a Routing number c Type: Checking Savings Direct deposit? See instructions d Account number 22 Amount of line 2o you want applied to your 2020 estimated Note: This problem is for the 2019 tax year. Beth R. Jordan Ilves at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant with Mesa Manufacturing Company, 1203 Western Avenue, Mesa, AZ 85201 (employer identification number 11-1111111). She also writes computer software programs for tax practitioners and has a part-time tax practice. Beth is single and has no dependents. Beth was born on July 4, 1973, and her Social Security number is 123-45-6785. She wants to contribute $3 to the Presidential Election Campaign Fund. The following information is shown on Beth's Wage and Tax Statement (Form W-2) for 2019. Line Description Amount 1 $65,000.00 2 9,500.00 3 Wages, tips, other compensation Federal income tax withheld Social Security wages Social Security tax withheld Medicare wages and tips Medicare tax withheld 4 5 6 65,000.00 4,030.00 65,000.00 942.50 Arizona 65,000.00 1,054.00 15 Stato State wages, tips, etc. 16 17 State income tax withheld During the year, Beth received interest of $1.300 from Arizona Federal Savings and Loan and $400 from Arizona State Bank. Each financial Institution reported the interest Income on a Form 1099-INT. She received qualified dividends of $800 from Blue Corporation, 5750 from Green Corporation, and $650 from Orange Corporation. Each corporation reported Beth's dividend payments on a Form 1099-DIV. Beth received a $1,100 income tax refund from the state of Arizona on April 29, 2019. On her 2018 Federal income tax retum, she used the standard deduction Fees earned from her part-time tax practice in 2019 totaled $3,800. She paid $600 to have the tax returns processed by a computerized tax return service On February 8, 2019, Beth bought 500 shares of Gray Corporation common stock for $17.60 a share. On september 12, 2019, Beth sold the stock for $14 a share: Beth bought a used sport utility vehicle for $6,000 on June 5, 2019. She purchased the vehicle from her brother-in-law, who was unemploved and was in need of cash. On November 2, 2019, she sold the vehicle to a friend for $6,500. On January 2, 2019, Beth acquired 100 shares of Blue Corporation common stock for $30 a share. She sold the stock on December 19. 2019. for $55 a share bel alquired 100 shares of Blue Corporation common stock for $30 a share. She sold the stock on December 19, 2019, for $55 a share. During the year, Beth records revenues of $15,000 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 $7,000 Cost of printer 2,000 Furniture 3,000 Supplies 650 Fee paid to computer consultant 3,500 Beth elected to expense the maximum portion of the cost of the computer, printer, and furniture allowed under the provisions of $ 179. These items were placed in service on January 15, 2019, and used 100% in her business. Although her employer suggested that Beth attend a convention on current developments in corporate taxation, Beth was not reimbursed for the travel expenses of $1,420 she incurred in attending the convention. The $1,420 included $200 for the cost of meals. During the year, Beth paid $300 for prescription medicines and $2,875 for doctor interest to credit card bills and hospital bills. Medical insurance premiums were paid for her by her employer. Beth paid real property taxes of $1,766 on her home. Interest on her home mortgage (Valley National Bank) was $3,845, and interest to credit card companies was $320. Beth contributed $2,080 to various qualifying charities during the year. Professional dues and subscriptions totaled $350. Beth paid estimated taxes of $1,000. Beth does not own or use any virtual currency Required: Compute the net tax payable or refund due for Beth R. Jordan for 2019. You will need Form 1040, (and its Schedules 1,2,3. B, C, D, and SE) and Forms 4562, 8995 and 8949 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 "o". Enter all amounts as positive numbers, unless instructed otherwise. . It may be necessary to complete the tax schedules before completing Form 1040. When computing the tax liability, do not round your immediate calculations. If required round your final answers to the nearest dollar. Use the 2019 Tax Rate Schedule provided. Do not use the Tax Tables. 1 Wages, salaries, tips, etc. Attach Form(s) W-2 1 65,000 2a Tax-exempt interest .. b 2a Taxable interest. Attach Sch. B if required 2b 1,700 3a Qualified dividends... 3a b Ordinary dividends. Attach Sch. B If required Bb 2,200 4a IRA distributions .. 4a b Taxable amount. 4b Pensions and annuities 4c d Taxable amount 4d 5a Social security benefits 5a b Taxable amount. 5b 6 Capital gain or loss). Attach Schedule Dif required. If not required, check here 6 1,200 Standard Deduction for Single or Married filing separately. $12,200 Married filing jointly or Qualifying widow(er). $24.400 Head of household, $18,350 If you checked any box under Standard Deduction, see instructions. 7a Other income from Schedule 1, line 9 7a b Add lines 1, 2, 3, 4, 40, 5b, 6, and 7a. This is your total income 7b sa Adjustments to income from Schedule 1, line 22 8a 8b b Subtract line 8a from line 7b. This is your adjusted gross income 9 Standard deduction or itemized deductions (from Schedule A) Qualified business income deduction. Attach Form 8995 or Form 8995-A. 9 10 10 11a Add lines 9 and 10. 11a b Taxable income. Subtract line 11a from line 8b. If zero or less, enter -- 11b BAA For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Form 1040 (2019) Form 1040 (2019) Beth R. Jordan 123-45-6785 Page 2 12a Tax (see inst.) Check if any from Form(s): 18814 2 4972 30 12a b Add Schedule 2, line 3, and line 12a and enter the total. 12b Form 1040 (2019) 123-45-6785 Beth R. Jordan 12a Tax (see Inst.) Check if any from Form(s): 108814 20 4972 30 Page 2 12a b Add Schedule 2, line 3, and line 12a and enter the total.. 12b 13a Child tax credit or credit for other dependents b Add Schedule 3, line 7, and line 13a and enter the total 13a 13b 14 Subtract line 13b from line 12b. If zero or less, enter-O- 14 15 Other taxes, including self-employment tax, from Schedule 2, line 10 15 16 Add lines 14 and 15. This is your total tax.. 16 17 Federal Income tax withheld from Forms W-2 and 1099 17 18a If you have a 18 Other payments and refundable credits: qualifying child, attach Sch. EIC. a Earned Income credit (EIC) If you have b Additional child tax credit. Attach Schedule 8812. nontaxable combat pay, see American opportunity credit from Form 8863, line 8. Instructions, d Schedule 3, line 14 18b 18c 18d e Add lines 18a through 18d. These are your total other payments and refundable credits 18e Refund 19 Add lines 17 and 18e. These are your total payments 19 20 If line 19 is more than line 16, subtract line 16 from line 19. This is the amount you overpaid 20 21a Amount of line 20 you want refunded to you. If Form 8888 is attached, check here 21a Routing number c Type: Checking Savings Direct deposit? See instructions d Account number 22 Amount of line 2o you want applied to your 2020 estimated