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 $55,800 Federal withholding 6,544

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 $55,800 Federal withholding 6,544 Social security wages 55,800 Social security withholding. 3,468 Medicare withholding 809 State withholding 3,148 1099-INT New Bank 977 1099-DIV XYZ, Incorporated Ordinary dividends 258 Qualified dividends 258 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 $ 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 $ 156,500 21,000 business miles (2,100 per month) 32,000 total miles during the year 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 dien for a day 2014 Chevy Suburban Placed in service 03/01/21 (750) (1,500) (155) (5,300) (2,500) (1,000) (550) (350) 55

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Fundamental Accounting Principles

Authors: Larson Kermit, Tilly Jensen

Volume I, 14th Canadian Edition

71051503, 978-1259066511, 1259066517, 978-0071051507

More Books

Students also viewed these Accounting questions