Please complete the 2014 federal income tax return for Jonathan Hales. Be sure to include only required

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Please complete the 2014 federal income tax return for Jonathan Hales. Be sure to include only required tax forms when completing the tax return. Ignore the requirement to attach the form(s) W-2 to the front page of the Form 1040. If required information is missing, use reasonable assumptions to fill in the gaps. All of the numbers you will use are the same as the date on the forms, 2014. The deductions for standard and personal are all listed on the forms and the instructions for the forms and the instructions for the forms, and the worksheet will have the rest.
Jonathan Hales attended State University as a part-time student during the year. Jonathan lived at home with his parents while working a part-time job. The following information relates to 2014:
Jonathan's Social Security number is 546-87-9876
His mailing address is 123 Spring Lane, Willow, Texas 77521
Jonathan is a U.S. citizen
Jonathan was single during the entire year
Jonathan turned 24 on July 1
Jonathan does not have any children or provide support for anyone but himself
Jonathan received the following income during the year:
Gross Wages Federal Income Tax Withholding Employer State Income Tax Withholding The Colony 42,675 3,000 1,000 Rock Clim

All applicable and appropriate payroll taxes were withheld by his various employers.
Jonathan received $3,115 in interest income from the First Bank of Texas during the year. Jonathan did not own, control or manage any foreign bank accounts nor was he a grantor or beneficiary of a foreign trust during the tax year.
Jonathan has the following itemized deductions: $5,000 health insurance, $3,500 home mortgage interest, $1,000 property taxes, $400 in charitable donations to Goodwill, and $100 in tax return preparation fees.
Jonathan also operated a small business called Rock Climber Tours. His small business collected $5,000 in revenue. There was no cost of goods sold as the business is a service business. The following expenses were recorded: $1,000 equipment purchases, $300 in gasoline and $200 in license fees.
Jonathan does not want to contribute to the Presidential Election Campaign. He would like to receive a refund (if any) of any tax he may have overpaid for the year. His preferred method of receiving the refund is by check.

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Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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