pendix E: Kytrina Casio Information

For your fifth client, your boss wants you to prepare Form 1040, Schedule A, B, and

supporting forms (e.g., 4684) for Kytrina Casio for the most recent tax year.

Facts: Kytrina is a 30-year old single person. She is a graphic artist who also works in

an antique store on weekends. For last year, she had the following information:

T

axpayer:

Kytrina Casio

123 Park Avenue

Flowers, TX

75000

Social Security No.

123-45-6789

INCOME

:

W-2 from 1

st

employer

Gross wages income:

$13,164

Federal Withholding

921

W-2 from 2d employer

Gross wages income:

50,000

Federal withholding

9,500

Interest income from bank

132

Interest income from brokerage firm

2,100

Ordinary "qualified" dividends from large U.S. corporation:

3,000

POSSIBLE DEDUCTIONS

:

Mortgage interest paid

6,700

State and local income taxes paid

1,400

Charitable contributions to a 501(c)(3) charity

1,800

Casualty loss, her garage, located in a federally declared

disaster area, was destroyed by the disaster. Cost and fair

market value were:

9,000

Insurance pay out for the garage disaster loss:

3,000

Property taxes on her home

2,600

Using these facts, prepare Form 1040, Schedules A, and B for Kytrina for the most

recent year for which there is a form (this is almost always the year prior to the present

year). Remember to consider both the standard deduction vs. itemized deduction. Also,

you may need other forms, such as the 4684 and instructions