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 10,044 Social security wages 55,800 Social security withholding 3,460 Medicare withholding 809 State withholding 3,348 1099 INT New Bank 532 1099 DIV XYZ, Inc Ordinary dividends 258 Qualified dividends 258 Shelly had the following itemized deductions State income tax withholding (from W 2) $ 3,348 State income tax paid with 2015 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 2016 (Business code, 238990, Cash basis) The results of her business operations for 2016 follow Gross receipts from clients $ 154,000 Vehicle mileage 21,000 business miles (2,100 per month) 32,000 total miles during the year 2009 Chevy Suburban Placed in service 03 01 16 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 $46 per day x 3 days Business Assets Date Purchased Cost Laptop 6 08 16 $ 2,500 Computer 3 05 16 5,700 Printer 3 01 16 1,800 Copier 6 02 16 1,700 Furniture 4 01 16 5,000 Building 3 01 16 175,000 Phone (600 ) Internet service (450 ) Rent (8,300 ) Insurance (1,700 ) Shelly made a $27,000 estimated tax payment on September 15, 2016 Prepare Shellys Form 1040 for 2016 including all of the supplementary schedules Schedule A, Schedule B, Schedule C, Form 4562, and Schedule SE are required Section 179 is elected on all eligible assets in 2016 She wants to contribute to the presidential election campaign and does not want anyone to be a third party designee Shelly had qualifying health care coverage at all times during the tax year 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 Round your intermediate computations to nearest whole dollar value )

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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 10,044

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		10,044
Social security wages		55,800
Social security withholding		3,460
Medicare withholding		809
State withholding		3,348
1099-INT New Bank		532
1099-DIV XYZ, Inc.
Ordinary dividends		258
Qualified dividends		258

Shelly had the following itemized deductions:


State income tax withholding (from W-2)	$	3,348
State income tax paid with 2015 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 2016 (Business code, 238990, Cash basis). The results of her business operations for 2016 follow:


Gross receipts from clients		$	154,000
Vehicle mileage	21,000 business miles (2,100 per month)
	32,000 total miles during the year
	2009 Chevy Suburban
	Placed in service 03/01/16
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 $46 per day x 3 days

Business Assets	Date Purchased		Cost
Laptop	6/08/16	$	2,500
Computer	3/05/16		5,700
Printer	3/01/16		1,800
Copier	6/02/16		1,700
Furniture	4/01/16		5,000
Building	3/01/16		175,000

Phone			(600	)
Internet service			(450	)
Rent			(8,300	)
Insurance			(1,700	)

Shelly made a $27,000 estimated tax payment on September 15, 2016. Prepare Shellys Form 1040 for 2016 including all of the supplementary schedules. Schedule A, Schedule B, Schedule C, Form 4562, and Schedule SE are required. Section 179 is elected on all eligible assets in 2016. She wants to contribute to the presidential election campaign and does not want anyone to be a third-party designee. Shelly had qualifying health care coverage at all times during the tax year. 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. Round your intermediate computations to nearest whole dollar value.)