tax return problem #1

Project Description:

jeffery norville is a single taxpayer. his ssn is 412-34-5670, and he lives at 5037 circle court, crestview, il, 60543. his w-2 for 2012 shows gross wages of $88,400 with $3,713 of social security and $1,281.80 of medicare taxes withheld. he has $17,747 of federal withholding and $2,595 in state withholding. jeffery does not itemize. he had the following stock transactions for the year:

stock date date sale cost
shares purchased sold price basis
5,500 7/8/11 9/12/12 $15,000 $18,000
800 3/12/12 10/21/12 43,000 47,000
2,800 2/13/05 10/21/12 30,000 22,000

he also has interest from a savings account with local neighborhood bank of $235 and a dividend from a form 1099-div of $1,389 in ordinary dividends, of which $1,106 are considered qualified dividends.

prepare a 2012 form 1040 for jeffery and all related schedules and forms.
assume box 3 of the 1099-bs were not checked for all sales transactions.
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