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Questions and Problems 5 In luly 2015, someone broke into Bea's house and stole a diamond ring. The diamond ring had a fair market value
Questions and Problems 5 In luly 2015, someone broke into Bea's house and stole a diamond ring. The diamond ring had a fair market value of $11,000 and a tax basis to Bea of $7,700 The ring was uninsured Required: Complete Bea's federal tax return for 2015. Use Form 1040, Schedule A, Schedule B, and Form 4684, from Pages 5-51 through 5-55 to complete this tax returm. Make realistic assumptions about any missing data. ohn Fuji (age 37) moved from California to Washington in December 2014. He s at 468 Cameo Street, Yakima, WA 98901. John's Social Security job as a manager at a Washington apple-processing plant are number is 571-78-5974 and he is single. His earnings and income tax withholding for 2015 for his Earnings from the Granny Smith Apple Co. Federal income tax withheld State income tax withheld $75,400 9,100 John's other income includes interest on a Certificate of Deposit at Braeburn National Bank of $1,304. Also, he paid $610 per month alimony to his ex-wife (Dora Fuji, Social Security number 573-79-6075). During 2015, John paid the following amounts (all of which can be substantiated) $8,375 1,575 Home mortgage interest Auto loan interest Credit card interest Property taxes on personal residence Unreimbursed hospital bills Doctor bills Other medical expenses Income tax preparation fee ob-hunting expenses Cash charitable donation to the Jonagold Research Center 2,650 5,250 2,550 760 500 925 500 in July 2015, someone broke into John's house and stole a coin collection. Th collection had a fair market value of $11,500 and a tax basis to John of $4,730. Th ollection was uninsured. Required: Complete John's federal tax return for 2015. Use Form 1040, Schedule chedule B, and Form 4684, on Pages 5-51 through 5-55 to complete this tax retu ake realistic assumptions about any missing data. FTWARE PROBLEM llowing additional information is available for the Dr. Ivan and Irene Incisor fa Questions and Problems 5 In luly 2015, someone broke into Bea's house and stole a diamond ring. The diamond ring had a fair market value of $11,000 and a tax basis to Bea of $7,700 The ring was uninsured Required: Complete Bea's federal tax return for 2015. Use Form 1040, Schedule A, Schedule B, and Form 4684, from Pages 5-51 through 5-55 to complete this tax returm. Make realistic assumptions about any missing data. ohn Fuji (age 37) moved from California to Washington in December 2014. He s at 468 Cameo Street, Yakima, WA 98901. John's Social Security job as a manager at a Washington apple-processing plant are number is 571-78-5974 and he is single. His earnings and income tax withholding for 2015 for his Earnings from the Granny Smith Apple Co. Federal income tax withheld State income tax withheld $75,400 9,100 John's other income includes interest on a Certificate of Deposit at Braeburn National Bank of $1,304. Also, he paid $610 per month alimony to his ex-wife (Dora Fuji, Social Security number 573-79-6075). During 2015, John paid the following amounts (all of which can be substantiated) $8,375 1,575 Home mortgage interest Auto loan interest Credit card interest Property taxes on personal residence Unreimbursed hospital bills Doctor bills Other medical expenses Income tax preparation fee ob-hunting expenses Cash charitable donation to the Jonagold Research Center 2,650 5,250 2,550 760 500 925 500 in July 2015, someone broke into John's house and stole a coin collection. Th collection had a fair market value of $11,500 and a tax basis to John of $4,730. Th ollection was uninsured. Required: Complete John's federal tax return for 2015. Use Form 1040, Schedule chedule B, and Form 4684, on Pages 5-51 through 5-55 to complete this tax retu ake realistic assumptions about any missing data. FTWARE PROBLEM llowing additional information is available for the Dr. Ivan and Irene Incisor fa
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