Question
The completed Form 1040-Schedule A template. Information Provided: Taxpayer Information Name: Bryan Jones Address: 1200 Main St. Green Bay, Wisconsin 12345 DOB: 5/6/1976 Filing Status:
The completed Form 1040-Schedule A template. Information Provided:
Taxpayer Information Name: Bryan Jones
Address: 1200 Main St. Green Bay, Wisconsin 12345
DOB: 5/6/1976 Filing Status:
Single SSN: 500-10-2000 Occupation: Staff Accountant Wages and Compensation.
The following information is taken from Bryan Jones 2017 Form W-2 Wage and Tax Statement: Box 1 Wages, tips, and other compensation 52,000 Box 2 Federal Withholding 8,750 Box 17 State Income Tax Withholding 1,000 Interest and Dividends Bryan has some Certificates of Deposits are Main Street bank which yielded 3,750 in interest in 2017. In addition, Bryan has interest income from municipal bonds in the amount of 1,250. Also, Bryan received $2100 in qualified dividends from Plum Electronic Co. Profit/Loss from Business Bryan has a part-time accounting services business. In 2017, his income and expenses are as f follows: Service Revenue 7,000 Office Expense 500 Advertising 750 Capital Gains Bryan had the following stock transactions in 2017: He sold 1,000 shares of Apex Co. for $ 12,000 on June 7, 2016, which he purchased on April 1, 2014 for 25,000. In addition, he sold 750 shares of Velocity Inc. for $10,000 on September 1, 2016, which he purchased on December 1, 2015 for $5,000. Rental Real Estate Bryan owns a rent house which he purchased on July 1, 2014. The income and expenses of the rental real estate unit for 2017 are as follows: Rental income $12,000 Property taxes $1,500 Depreciation $1,000 Repairs and Maintenance $750 Insurance $2,000 Other Transactions in 2017 1. Bryan received a gift of $4,000 from his brother. 2. Bryan paid $3,000 for the year in alimony to his ex-wife, per divorce decree. 3. Bryan had gambling winnings of $1,000. 4. Bryan was the beneficiary of his mothers life insurance policy. His mother died in 2017 and he received $50,000 under this policy.
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