Question

Robert Ramos (age 36) is a single taxpayer, living at 8765 Bay Dr., Monterey, CA 93940. His Social Security number is 976-23-5132. Robert’s earnings and income tax withholding as the manager of a local supermarket store for 2014 are:
Earnings.................. $68,000
Federal income tax withheld.......... 14,800
State income tax withheld........... 2,300
Robert’s other income includes qualifying dividends on Arizona Public Service stock of $3,600 and interest on a long-term certificate of deposits at Bank of America of $5,885.
During the year, Robert paid the following amounts (all of which can be substantiated):
Home mortgage interest............ $10,500
Credit card interest.............. 550
Auto loan interest.............. 1,700
Life insurance (universal policy) ........ 750
Property taxes on personal residence...... 1,350
Blue Cross medical insurance premiums...... 650
Other medical expenses............ 790
Income tax preparation fee.......... 250
Charitable contributions (in cash)......... 550
In his spare time, Robert trades stocks and bonds. During the year, he sold several stocks and received a Form 1099-B, which showed the following:
Required:
Complete Robert’s federal tax return for 2014. Use Form 1040, Schedule A, Schedule B, Schedule D, Form 8949, and the Qualified Dividends and Capital Gain Tax Worksheet on Pages 8-57 to 8-65 to complete this tax return. Make realistic assumptions about any missing data.


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  • CreatedJuly 16, 2015
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