Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Shelly Beaman (social security number 412-34-5670) Is single and resides at 540 Front Street, Ashland, NC 27898. Shelly's W-2 wages Federal withholding Social security

image text in transcribedimage text in transcribed

Shelly Beaman (social security number 412-34-5670) Is single and resides at 540 Front Street, Ashland, NC 27898. Shelly's W-2 wages Federal withholding Social security wages Social security withholding Medicare withholding State withholding 1099-INT New Bank 1099-0IV XYZ, Incorporated Ordinary dividends Qualified dividends $ 55,800 Shelly had the following itemized deductions: State income tax withholding (from W-2) State income tax paid with 2020 return Real estate tax Mortgage interest Charitable contributions 6,544 55,800 3,460 809 3,148 977 258 258 $ 3,348 400 4,200 11,800 3,050 Shelly also started her own home design consulting business in March 2021. The results of her business operations (Cash basis) for 2021 follows: Gross receipts from clients Vehicle mileage Postage office supplies State license fees: Supplies Professional fees Design software Professional education programs (registration) Travel to education program Airplane Lodging $119 per night 3 nights Meals per diem for a day $ 156,500 21,000 business miles (2,100 per month) 32,000 total miles during the year 2014 Chevy Suburban, Placed in service 03/01/21 (750) (1,500) (155) (5,300) (2,500) (1,000) (558) (350) 55

Step by Step Solution

There are 3 Steps involved in it

Step: 1

StepByStep Solution To prepare Shelly Beamans Form 1040 for 2021 including all appropriate schedules Schedule A Schedule C Form 4562 and Schedule SE f... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Forensic Accounting and Fraud Examination

Authors: Mary Jo Kranacher, Richard Riley, Joseph T. Wells

1st edition

047043774X, 978-0470437742

More Books

Students also viewed these Accounting questions

Question

What is the improve step in DMAIC?

Answered: 1 week ago

Question

.14

Answered: 1 week ago

Question

but less than

Answered: 1 week ago

Question

.10

Answered: 1 week ago