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Roberta Santos, age 41. is single and lives at 120 Sanbomc Avenue. Springfield. IL 60781. Her Social Security number is 123-45-6789. Roberta has been divorced

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Roberta Santos, age 41. is single and lives at 120 Sanbomc Avenue. Springfield. IL 60781. Her Social Security number is 123-45-6789. Roberta has been divorced from her former husband. Wayne, for three years. She has a son. Jason, who is 17. and a daughter. June, who is 18. Jason's Social Security number is 111-11-1111 and June's is l23-45-6788.Robcrta docs not want to contribute S3 to the Presidential Election Campaign Fund. Roberta, an advertising executive, earned a salary of $75,000 in 2011. Her employer withheld S8.500 in Federal income tax. S3.100 in state income tax. and the appropriate amount of FICA tax: S3.150 for Social Security tax and SI.0S7.50 for Medicare tax. Roberta has Icagl custody of Jason and June. The divorce decree provides that Roberta is to receive the dependency deduction for the children. Jason lives with his father during summer vacation. Wayne indicates that his experiences for Jason arc SI0.500. Roberta can document that she spent S6.500 for Jason's support during 2011. In prior years. Roberta gave a signed Form 8332 to Wayne regarding Jason. For 2011. she has decided not to do so. Roberta provides all of June's support. Roberta's mother died on January 7. 2011. Roberta inherited assets worth S625.000 from her mother. As the sole beneficiary of her mother's life insurance policy. Roberta received insurance proceeds of $300.000. Her mother's cost basis for the life insurance policy was $120,000. Roberta's favorite aunt gave her SI3.000 for her birthday in October. On November 8. 2011. Roberta sells for S20.000 Amber stock that she had purchased for S24.000 from her first cousin. Walt, on December 5.2006. Waifs cost basis for the stock was $26,000. and the stock was worth S23.000 on December 5, 2006. On December 1,2011, Roberta sold Falcon stock for $13,500. She had acquired the stock on July 2. 2008. for $7.000. An examination of Roberta's records reveals that she received the following: ?Interest income of S2.000 from First Saving Bank. TGroccrics valued at S750 from a local grocery store for being the 100.000th customer. ?Qualified dividem income of $1,800 from Amber. ?Interest income of S3.750 on City of Springfield school bonds. ?Alimoby of S15.000 from Wayne. ?Distribution of S4.K00 from ST Partnership. Her distributive share of the partnership passive taxable income was $5,300. From her checkbook, she determines that she made the following payments during 2011: ?Charitable contributions of S3.500 to First Presbyterian Church and SI.500 to the American Red Cross (proper receipts obtained). ?Mortagac interest on her residence of $7,800. ?Property taxes of S3.100 on her residence and SI. 100 on her car. ?Estimatcd Federal income taxes of S3.800 and estimated satate income taxes of S1.000. ?Medical expenses of $5,000 for her and $800 for Jason. In December, her medical insurance policy reimbursed $ 1.500 of her medical expenses. ?A $1.000 ticket for parking in a handicapped space. ?Attorney's fees of $500 associated with unsuccessfully contesting the parking ticket. ?Contribution of S250 to the campaign of candidate for governor/ ?Because she did not maintain records of the sales tax she paid, she calculates the amount from the sales tax table to be S994. Calculate Roberta's net tax payable or refund due for 2011. If you use tax forms, you will need Form 1040 and Schedules A.B. I), and E Roberta Santos, age 41. is single and lives at 120 Sanbomc Avenue. Springfield. IL 60781. Her Social Security number is 123-45-6789. Roberta has been divorced from her former husband. Wayne, for three years. She has a son. Jason, who is 17. and a daughter. June, who is 18. Jason's Social Security number is 111-11-1111 and June's is l23-45-6788.Robcrta docs not want to contribute S3 to the Presidential Election Campaign Fund. Roberta, an advertising executive, earned a salary of $75,000 in 2011. Her employer withheld S8.500 in Federal income tax. S3.100 in state income tax. and the appropriate amount of FICA tax: S3.150 for Social Security tax and SI.0S7.50 for Medicare tax. Roberta has Icagl custody of Jason and June. The divorce decree provides that Roberta is to receive the dependency deduction for the children. Jason lives with his father during summer vacation. Wayne indicates that his experiences for Jason arc SI0.500. Roberta can document that she spent S6.500 for Jason's support during 2011. In prior years. Roberta gave a signed Form 8332 to Wayne regarding Jason. For 2011. she has decided not to do so. Roberta provides all of June's support. Roberta's mother died on January 7. 2011. Roberta inherited assets worth S625.000 from her mother. As the sole beneficiary of her mother's life insurance policy. Roberta received insurance proceeds of $300.000. Her mother's cost basis for the life insurance policy was $120,000. Roberta's favorite aunt gave her SI3.000 for her birthday in October. On November 8. 2011. Roberta sells for S20.000 Amber stock that she had purchased for S24.000 from her first cousin. Walt, on December 5.2006. Waifs cost basis for the stock was $26,000. and the stock was worth S23.000 on December 5, 2006. On December 1,2011, Roberta sold Falcon stock for $13,500. She had acquired the stock on July 2. 2008. for $7.000. An examination of Roberta's records reveals that she received the following: ?Interest income of S2.000 from First Saving Bank. TGroccrics valued at S750 from a local grocery store for being the 100.000th customer. ?Qualified dividem income of $1,800 from Amber. ?Interest income of S3.750 on City of Springfield school bonds. ?Alimoby of S15.000 from Wayne. ?Distribution of S4.K00 from ST Partnership. Her distributive share of the partnership passive taxable income was $5,300. From her checkbook, she determines that she made the following payments during 2011: ?Charitable contributions of S3.500 to First Presbyterian Church and SI.500 to the American Red Cross (proper receipts obtained). ?Mortagac interest on her residence of $7,800. ?Property taxes of S3.100 on her residence and SI. 100 on her car. ?Estimatcd Federal income taxes of S3.800 and estimated satate income taxes of S1.000. ?Medical expenses of $5,000 for her and $800 for Jason. In December, her medical insurance policy reimbursed $ 1.500 of her medical expenses. ?A $1.000 ticket for parking in a handicapped space. ?Attorney's fees of $500 associated with unsuccessfully contesting the parking ticket. ?Contribution of S250 to the campaign of candidate for governor/ ?Because she did not maintain records of the sales tax she paid, she calculates the amount from the sales tax table to be S994. Calculate Roberta's net tax payable or refund due for 2011. If you use tax forms, you will need Form 1040 and Schedules A.B. I), and E

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