*PLEASE ANSWER 13,14,15,16 AND 18

Note: This problem is for the 2020 tax year. Janice Morgan, age 24, is single and has no dependents. She is a freelance writer. In January 2020, 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. Janice received the appropriate coronavirus recovery rebates (economic impact payments); related questions in ProConnect Tax should be ignored. During 2020, Janice reported the following income and expense items connected with her business. Income from sale of articles Rent Utilities $95,000 16,500 7,900 1,800 5,000 Supplies Insurance Travel (including meals of $1,200) 3,500 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 2020. Required: Compute Janice Morgan's 2020 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 "O". 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 x 1 Wages, salaries, tips, etc. Attach Form(s) W-2 1 2a Tax-exempt interest .. 2a b Taxable interest 2b 4,000 Attach Sch. B if required. 3a Qualified dividends ... b Ordinary dividends 3b 4a IRA distributions ... 4a b Taxable amount 4b 5a Pensions and annuities 5a b Taxable amount 5b andard 6b 6a Social security benefits b Taxable amount 7 Capital gain or loss). Attach Schedule D if required. If not required, check here 8 eduction for- Single or Married filing separately, $12,400 Married filing Other income from Schedule 1, line 9 8 27,500 9 Add lines 1, 2b, 3b, 4b, 5b, 6b, 7, and 8. This is your total income. 9 31,500 10 Adjustments to income: a From Schedule 1, line 22 10a 1,943 b Charitable contributions if you take the standard deduction. See instructions ....... 10b jointly or Qualifying widow(er), $24,800 Head of household, $18,650 If you checked any box under Standard Deduction, see instructions. c Add lines 10a and 10b. These are your total adjustments to income.. 100 1,943 11 Subtract line 10c from line 9. This is your adjusted gross income 11 29,557 12 Standard deduction or itemized deductions (from Schedule A) 12 14,650 13 Qualified business income deduction. Attach Form 8995 or Form 8995-A 13 14 Add lines 12 and 13 14 15 Taxable income. Subtract line 14 from line 11. If zero or less, enter-O- 15 or Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Form 1040 (2020) 1040 (2020) Janice Morgan 123-45-6782 Page 2 16 Tax (see instructions). Check if any from Form(s): 108814 20 4972 30 16 17 Amount from Schedule 2, line 3 17 18 Add lines 16 and 17 18 19 Child tax credit or credit for other dependents 19 20 Amount from Schedule 3, line 7....... 20 Note: This problem is for the 2020 tax year. Janice Morgan, age 24, is single and has no dependents. She is a freelance writer. In January 2020, 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. Janice received the appropriate coronavirus recovery rebates (economic impact payments); related questions in ProConnect Tax should be ignored. During 2020, Janice reported the following income and expense items connected with her business. Income from sale of articles Rent Utilities $95,000 16,500 7,900 1,800 5,000 Supplies Insurance Travel (including meals of $1,200) 3,500 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 2020. Required: Compute Janice Morgan's 2020 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 "O". 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 x 1 Wages, salaries, tips, etc. Attach Form(s) W-2 1 2a Tax-exempt interest .. 2a b Taxable interest 2b 4,000 Attach Sch. B if required. 3a Qualified dividends ... b Ordinary dividends 3b 4a IRA distributions ... 4a b Taxable amount 4b 5a Pensions and annuities 5a b Taxable amount 5b andard 6b 6a Social security benefits b Taxable amount 7 Capital gain or loss). Attach Schedule D if required. If not required, check here 8 eduction for- Single or Married filing separately, $12,400 Married filing Other income from Schedule 1, line 9 8 27,500 9 Add lines 1, 2b, 3b, 4b, 5b, 6b, 7, and 8. This is your total income. 9 31,500 10 Adjustments to income: a From Schedule 1, line 22 10a 1,943 b Charitable contributions if you take the standard deduction. See instructions ....... 10b jointly or Qualifying widow(er), $24,800 Head of household, $18,650 If you checked any box under Standard Deduction, see instructions. c Add lines 10a and 10b. These are your total adjustments to income.. 100 1,943 11 Subtract line 10c from line 9. This is your adjusted gross income 11 29,557 12 Standard deduction or itemized deductions (from Schedule A) 12 14,650 13 Qualified business income deduction. Attach Form 8995 or Form 8995-A 13 14 Add lines 12 and 13 14 15 Taxable income. Subtract line 14 from line 11. If zero or less, enter-O- 15 or Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Form 1040 (2020) 1040 (2020) Janice Morgan 123-45-6782 Page 2 16 Tax (see instructions). Check if any from Form(s): 108814 20 4972 30 16 17 Amount from Schedule 2, line 3 17 18 Add lines 16 and 17 18 19 Child tax credit or credit for other dependents 19 20 Amount from Schedule 3, line 7....... 20