Roberta 5antos, age 41, is single and lNes at 120 Sanborbe Avenue, 5pringfield, IL 62701 , Her 50 ocial 5ecuntr number is 12345 - 6780 , Roberta thas been divorced from her former trusband, Woyne, for three years She has a son, Jason, who is 17, and a daughter, June, who is 18. Jason's Social Secirty number is 111111112; and June's is 12345.67b6. Roberta hos never owned or used any vatual currency, She does not want to contribute 53 to the Presidential Election Campaign Fund. Roberta received the appropriate recovery rebstes (econorric impact payments); related questons in ProConnect Tox should bo ignoret. Roberta, an advertising executive, earned a salary from ABC Advertising of $120,000 in 2020, Her employer with held 519,000 in Federal incornet tox and 54,400 in state income tax Roberta has legal custody of Jason and June. The dworice decree provides that Roberta is to recerve the dependency deductions for the children Jason lives with his father durung summer vacation, Warne indicates that hes eveenses far lasen are 95,500 , Roberta can document that she spent $8,500 for lasoo's support durmg 2020 . In prior years, Roberta gave a signed form 8337 to Wayne regarding 3ason. For 2020 , she has decided not to do so. Aoberta provides alb of lune's sueport: Aobetta's mether died on January 7, 2020, Hoberta anherited assets worth 5625,000 trom her mother, As the soler becinficarr at her mother's life insurance policy, Robetta recewed insurance proceeds of $300,000. Her mother's cost basis for the life invurnince policy was 5120,000 . Robertas favonte anut oavether $13,000 lor her bithday in October. On Novernber 8, 2020, Raberti sells for $22,000 Amber stock that she had purchwed for 524,000 from her first coukin, Walr, on Decembier 5, 2015, Walks colt bass for the stock was 536,060. On Decenter 1, 20j0, Roberta sold falcon stock for 513,500,5 he had acteured the stock on whly 2,2016, for $8,000. An eximination of Robesta's recerds reveals that she recerved the following: - Imecest incame of $2,500 frorns f irat Savings thank. - Groceties valued at 5750 from Kroger Girvceries for being the 100,000th custurner. - interest income of 52,500 from First Savings bank. - Groceries valued at $750 from Kroger Groceries for being the 100,000th customer. - Qualified dividend incorne of 51,800 from Amber. - Interest incorne of 53,750 on City of Springheld school bonds. - Aimony of $16,000 from Wayne; divorce faralized in May 2017. - Distribation of 54,600 from 5T Parthership (Employer fdentification Wumber: 46-4567b93). Her distributive share of the parthership passive taxable incorve was $5,300. She had no prior passive activity losses. Assume that the quahined business income deduction apples and the W2 wage limitation does not. From ther checkbook records, she determines that she made the following payroents during 2020: - Chartable contributions of 54,500 to First Presbyterian Church and $1,500 to the Aemerican Aed Cross (proper teceipts obtained). - Payment of 55,000 to tCM hosptal for the medical expenses of a found fram wosk. - Mortgage imerest or fver residence of $7,800 to Peoples Bank. - Preperty tawes of $3,200 on her residence and $1,100 (ad valorem) on her car. $800 for landscaping expenses far residence. - Istirnated federal income taxes of $2,600 and estimated state income takes of 41,000. - Medical expenses of 55,000 for her and s800 for Jason. In December, her medical insorance policy reimbursed 51,500 or her medical expenses. She had full year health care coverage. - As1,000 ticket for parkeng in a handicapped space. - Atrorney's fees of 5500 associated with unsuccessfully contesting the parking ticket. - Contribution of 5250 to the cempaign of a candidate for povernor. Because she sid not maintain records of the sales tax she paid, she colculates the brnount from the sales tax table to be $1, Bob. Mequired Calculate Roberta's net tax payable or refund doe for 2020
