Shelly Beaman (social security number 412 34 5670) is single and resides at 540 Front Street, Ashland, NC 27898 Shellys W 2 wages $ 55,800 Federal withholding 6,544 Social security wages 55,800 Social security withholding 3,460 Medicare withholding 809 State withholding 3,148 1099 INT New Bank 632 1099 DIV XYZ, Incorporated Ordinary dividends 258 Qualified dividends 258 Shelly had the following itemized deductions State income tax withholding (from W 2) $ 3,148 State income tax paid with 2019 return 600 Real estate tax 4,200 Mortgage interest 11,800 Charitable contributions 2,500 Shelly also started her own home design consulting business in March 2020 The results of her business operations (Cash basis) for 2020 follows Gross receipts from clients $ 154,000 Vehicle mileage 21,000 business miles (2,100 per month) 32,000 total miles during the year 2012 Chevy Suburban Placed in service 03 01 20 Postage (750) Office supplies (1,500) State license fees (155) Supplies (5,300) Professional fees (2,500) Design software (1,000) Professional education programs (registration) (550) Travel to education program Airplane (350) Lodging $119 night 3 nights Meals per diem for a day 55 Business Assets Date Purchased Cost Laptop 6 08 20 $ 2,500 Computer 3 05 20 5,700 Printer 3 01 20 1,800 Copier 6 02 20 1,700 Furniture 4 01 20 5,000 Building 3 01 20 175,000 Phone (600) Internet service (450) Rent (8,300) Insurance (1,700) Shelly made a $29,000 estimated tax payment on June 15, 2020 Required Prepare Shellys Form 1040 for 2020 including all appropriate schedules Schedule A, Schedule C, Form 4562, and Schedule SE are required Section 179 is elected on all eligible assets in 2020 She wants to contribute to the presidential election campaign and does not want anyone to be a third party designee For any missing information, make reasonable assumptions (List the names of the taxpayers and any income they receive in the order in which they appear in the problem Input all the values as positive numbers unless otherwise stated in the forms Instructions can be found on certain cells within the forms Round your intermediate computations and your final answers to the nearest whole dollar amount Do not skip rows while entering in Other Expenses section of Schedule C and in Section B of Part III Form 4562 )

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Shelly Beaman (social security number 412-34-5670) is single and resides at 540 Front Street, Ashland, NC 27898. Shellys W-2 wages $ 55,800 Federal withholding 6,544

Shelly Beaman (social security number 412-34-5670) is single and resides at 540 Front Street, Ashland, NC 27898.

Shellys W-2 wages	$ 55,800
Federal withholding	6,544
Social security wages	55,800
Social security withholding	3,460
Medicare withholding	809
State withholding	3,148
1099-INT New Bank	632
1099-DIV XYZ, Incorporated
Ordinary dividends	258
Qualified dividends	258

Shelly had the following itemized deductions:

State income tax withholding (from W-2)	$ 3,148
State income tax paid with 2019 return	600
Real estate tax	4,200
Mortgage interest	11,800
Charitable contributions	2,500

Shelly also started her own home design consulting business in March 2020. The results of her business operations (Cash basis) for 2020 follows:

Gross receipts from clients		$ 154,000
Vehicle mileage	21,000 business miles (2,100 per month)
	32,000 total miles during the year
	2012 Chevy Suburban
	Placed in service 03/01/20
Postage		(750)
Office supplies		(1,500)
State license fees		(155)
Supplies		(5,300)
Professional fees		(2,500)
Design software		(1,000)
Professional education programs (registration)		(550)
Travel to education program
Airplane		(350)
Lodging $119/night 3 nights
Meals per diem for a day		55

Business Assets	Date Purchased	Cost
Laptop	6/08/20	$ 2,500
Computer	3/05/20	5,700
Printer	3/01/20	1,800
Copier	6/02/20	1,700
Furniture	4/01/20	5,000
Building	3/01/20	175,000
Phone		(600)
Internet service		(450)
Rent		(8,300)
Insurance		(1,700)

Shelly made a $29,000 estimated tax payment on June 15, 2020.

Required:

Prepare Shellys Form 1040 for 2020 including all appropriate schedules. Schedule A, Schedule C, Form 4562, and Schedule SE are required. Section 179 is elected on all eligible assets in 2020. She wants to contribute to the presidential election campaign and does not want anyone to be a third-party designee. For any missing information, make reasonable assumptions. (List the names of the taxpayers and any income they receive in the order in which they appear in the problem. Input all the values as positive numbers unless otherwise stated in the forms. Instructions can be found on certain cells within the forms. Round your intermediate computations and your final answers to the nearest whole dollar amount. Do not skip rows while entering in Other Expenses section of Schedule C and in Section B of Part III Form 4562.)