Question
your boss wants you to prepare forms 8949 for Christina Hunter. Facts: Christina is a 30-year old single woman who works full time as a
your boss wants you to prepare forms 8949 for Christina Hunter.
Facts: Christina is a 30-year old single woman who works full time as a hair stylist and part time as the hair stylist at a local theater company. No one else can claim Christina as a dependent. For last year, she had the following information:
Taxpayer
Christina Hunter
123 Candy Land Lane
Cantonment, FL33400
Social Security No.
123-45-6789
INCOME:
W-2 from 1st employer
Gross wages income:
$13,164
Federal Withholding
921
W-2 from 2d employer
Gross wages:
50,000
Federal withholding
9,500
Interest income from bank
132
Interest income from brokerage firm
2,100
Ordinary "qualified" dividends from large U.S. corporation
3,000
She sold the following assets during last year:
1,000 shares of General Motors stock originally purchased January 1, 2010 for $10,000 and sold July 1 of last year for:
16,000
500 shares of Facebook stock originally purchased February 1 of last year for $8,000 and sold August 1 of last year for:
6,000
Car on Craigslist originally purchased July 13, 20X7, for $25,000 and sold October 1 of last year for:
9,000
Her fishing boat, originally purchased July 1, 20X7 for $3,000 and sold November 1 of last year for:
4,000
POSSIBLE DEDUCTIONS
Mortgage interest paid
6,700
State and local income taxes paid
1,400
Charitable contributions to a 501(c)(3) charity
1,800
Casualty loss, her storage shed was destroyed in a hurricane, in a federally certified disaster area. Cost and fair market value were both:
9,000
Insurance pay out for the shed:
3,000
Property taxes on her home:
2,600
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