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Tax Return Problem 1 Jason Ready attended the University of San Diego during 2013-2017. He incurred education expenses of $10,000 in total for his education,

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Tax Return Problem 1 Jason Ready attended the University of San Diego during 2013-2017. He incurred education expenses of $10,000 in total for his education, and $1,500 of that amount was incurred in 2017 for his last semester. To finance his education, he borrowed $7,000 through a federal student loan program and borrowed another $3,000 from SoCal Credit Union for educational purposes. After graduation, he accepted a position with the Portland office of KPMG and moved there in May 2017. He lives at 4560 Ranch Drive, Portland, OR 97035 . His social security number is 412-345670 (date of birth 7/10/1995 ). Jason had qualifying health care coverage at all times during the tax year. His W2 contained the following information: Wages(box1)FederalW/H(box2)Socialsecuritywages(box3)SocialsecurityW/H(box4)Medicarewages(box5)MedicareW/H(box6)=$67,533.05=$8,994.95=$67,533.05=$4,187.05=$67,533.05=$979.23 In moving to Portland, he incurred the following moving expenses: $495 in gasoline. \$295 for renting a truck from IGOTYA rentals. $125 in food. $465 for motel lodging on the way to Portland. He also received two Forms 1098-E. One was from the federal student loan program, which showed $450 of student loan interest; the other was from SoCal Credit Union and showed $150.75 of student loan interest. Prepare a Form 1040, a Form 3903, and a Form 8917. If manually preparing the return, the Student Loan Interest Deduction worksheet can be found in IRS Publication 970, Tax Benefits for Education. 303

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