Question
Shelly Beaman (social security number 412-34-5670) is single and resides at 540 Front Street, Ashland, NC 27898. Shelly Beaman (social security number 412-34-5670) is single
Shelly Beaman (social security number 412-34-5670) is single and resides at 540 Front Street, Ashland, NC 27898. 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) $ 3,348 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. Shelly had the following itemized deductions: State income tax withholding (from W-2) $ 3,348 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. 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. 1040 PG 1 1040 PG 2 Schedule 1 Schedule 2 Schedule A Schedule C Schedule SE Form 4562 P1 Form 4562 P2 Form 8995
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