Note: This problem is for the 2022 tax year.

Janice Morgan, age 24, is single and has no dependents. She is a freelance writer. In January 2022, Janice opened her own office located at 2751 Waldham Road, Pleasant Hill, NM 88135. She called her business Writers Anonymous. Janice is a cash basis taxpayer. She lives at 132 Stone Avenue, Pleasant Hill, NM 88135. Her Social Security number is 123-45-6782. Janice's parents continue to provide health insurance for her under their policy. Janice did not engage in any virtual currency transactions during the year and wants to contribute to the Presidential Election Campaign Fund.

During 2022, Janice reported the following income and expense items connected with her business.

Income from sale of articles	$95,000
Rent	16,500
Utilities	7,900
Supplies	1,800
Insurance	5,000
Travel (including restaurant meals of $600)	2,900

Janice purchased and placed in service the following fixed assets for her business. Janice wants to elect immediate expensing under 179, if possible.

• Furniture and fixtures (new) costing $21,000 on January 10.
• Computer equipment (new) costing $12,400 on July 28.

Janice's itemized deductions include:

State income tax	$2,950
Home mortgage interest paid to First National Bank	8,000
Property taxes on home	2,500
Charitable contribution to her alma mater, State College	1,200

Janice did not keep a record of the sales tax she paid. The amount allowed by the sales tax table is $437. Janice reports interest income of $4,000 on certificates of deposit at Second National Bank. She made estimated tax payments of $5,000 for 2022.

Required: Compute Janice Morgan's 2022 Federal income tax payable (or refund due).

• Make realistic assumptions about any missing data.
• If an amount box does not require an entry or the answer is zero, enter "0".
• Enter all amounts as positive numbers.
• The taxpayer wants $3 to go to the to Presidential Election Campaign.
• It may be necessary to complete the other tax forms and schedules before completing Form 1040.
• Use the tax schedules (not the tax tables) included with this problem to compute the tax.
• If required, round your final answers to the nearest dollar.

Form 1040 Form 1040 (2022) Tax and 16 Janice Morgan Tax (see instructions). Check if any from Form(s): 1 8814 2 4972 30 123-45-6782 Page 2 16 17 Credits 17 Amount from Schedule 2, line 3 ... 18 Add lines 16 and 17... 18 19 Child tax credit or credit for other dependents from Schedule 8812. 19 20 Amount from Schedule 3, line 8. . . 20 21 Add lines 19 and 20 . . . 21 0 22 Subtract line 21 from line 18. If zero or less, enter -0- 22 23 Other taxes, including self-employment tax, from Schedule 2, line 21. 23 3,885 224 24 Add lines 22 and 23. This is your total tax . 14 24 Payments 25 Federal income tax withheld from: a Form(s) W-2.... b Form(s) 1099 25a 25b