Bea Jones (birthdate March 27, 1984) moved from Texas to Florida in December 2017. She lives...

  

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Bea Jones (birthdate March 27, 1984) moved from Texas to Florida in December 2017. She lives at 654 Ocean Way, Gulfport, FL 33707. Bea's Social Security number is 466-78-7359 and she is single. Her eamings and income tax withhoiding for 2018 for her job as a manager at a Florida shrimp-processing plant are: Earnings from the Guif Shrimp Co. $43,200 Federal income tax withheld 4,600 State income tax withheld Bea's other income includes interest on a savings account at Beach National Bank of $2,200 and $600 per month alimony from her ex-husband in accordance with their 2010 divorce decree. Bea's employer operates a 401(k) plan, and although she is eligible, Bea does not participate. During 2018, Bea paid the following amounts (all of which can be substantiated): Home mortgage interest $8,700 Auto loan interest 2,300 State sales tax 820 Property taxes on personal residence 3,233 Unrelmbursed hospital bills 3,250 Doctor bills 2,612 Other deductible medical expernses 720 Income tax preparation fee 600 Job-hunting expenses 925 Contribution to IRA 2,500 In September 2018, Trapical Storm Yuri struck Gulfport and a tree fell on Bea's home. Bea acquired the home in February 2011 for $110,000. The FMV of her home before the storm was $117,800. The estimated loss in market value from damage was equal to her repair charge of $7,800. The damage caused by TS Yuri was declared a federal disaster (code EM-1212). Bea's deductible was quite high and her insurance company only reimbursed her $1,200. Required: Complete Bea's Form 1040 and Schedules 1, A, and B and Form 4684. • Bea had health coverage for the entire year and does not want to make a contribution to the presidential election campaign. • Make realistic assumptions about any missing data. • Enter all amounts as positive numbers. • If an amount box does not require an entry or the answer is zero, enter "o". • If required round any dollar amount to the nearest dollar. Activa Form 1040 (2018) Bea Jones 466-78-7359 Page 2 1 Wages, salaries, tips, etc. Attach Form(s) W-2 2a Tax-exempt interest 2a b Taxable interest 2b Qualified dividends b Ordinary dividends 3b За 3a Attach Form(s) W- 4a IRAS, pensions, and 2. Also attach b Тахаble amount 4b 4a annuities Form(s) W-2G and 1099-R if tax was Sa Social security benefits Sa b Taxable amount 5b withheld. 6 Total income. Add lines 1 through 5. Add any amount from Schedule 1, line 22 6 Adjusted gross income. If you have no adjustments to income, enter the amount from line 6; otherwise, subtract Schedule 1, line 36, from line 6. Standard Standard deduction or itemized deductions (from Schedule A). Deduction for- Qualified business income deduction (see instructions) 6. • Single or married filing separately, 10 Taxable income. Subtract lines 8 and 9 from line 7. If zero or less, enter -0-.... 10 $12,000 11 a Tax (see inst) (check If any from: 1 o Form(s) 8814 2 D Form 4972 • Married filing jointly or Qualifying widow(er), $24,000 30 b Add any amount from Schedule 2 and check here. 11 • Head of 12 a Child tax credit/credit for other dependents b Add any amount from Schedule 3 and check here. 12 household, Act - Head of b Add any amount from Schedule 3 and check here. 12 household, $18,000 13 Subtract line 12 from line 11. If zero or less, enter -0- 13 • If you checked 14 Other taxes. Attach Schedule 4 14 any box under 15 Total tax. Add lines 13 and 14. 15 Standard deduction, see 16 Federal income tax withheld from Forms W-2 and 1099 16 instructions. 17 Refundable credits: a EIC (see inst.) b Sch 8812 c Form 8863 Add any amount from Schedule 5 17 18 Add lines 16 and 17, These are your total payments. 18 19 If line 18 is more than line 15, subtract line 15 from line 18. This is the amount you Refund overpaid.. 19 ....... 20a Amaunt of line 19 you want refunded to you. If Form 8888 is attached, check here 20a Direct deposit? b Routing number ||| C Type: = Checking - Savings See instructions. d Account number 21 Amount of line 19 you want applied to your 2019 estimated tax..... 21 22 Amount you owe. Subtract line 18 from line 15. For details on how to pay, see Amount instructions... 22 You Owe 23 Estimated tax penalty (see instructions) 23 Activate Windos Bea Jones (birthdate March 27, 1984) moved from Texas to Florida in December 2017. She lives at 654 Ocean Way, Gulfport, FL 33707. Bea's Social Security number is 466-78-7359 and she is single. Her eamings and income tax withhoiding for 2018 for her job as a manager at a Florida shrimp-processing plant are: Earnings from the Guif Shrimp Co. $43,200 Federal income tax withheld 4,600 State income tax withheld Bea's other income includes interest on a savings account at Beach National Bank of $2,200 and $600 per month alimony from her ex-husband in accordance with their 2010 divorce decree. Bea's employer operates a 401(k) plan, and although she is eligible, Bea does not participate. During 2018, Bea paid the following amounts (all of which can be substantiated): Home mortgage interest $8,700 Auto loan interest 2,300 State sales tax 820 Property taxes on personal residence 3,233 Unrelmbursed hospital bills 3,250 Doctor bills 2,612 Other deductible medical expernses 720 Income tax preparation fee 600 Job-hunting expenses 925 Contribution to IRA 2,500 In September 2018, Trapical Storm Yuri struck Gulfport and a tree fell on Bea's home. Bea acquired the home in February 2011 for $110,000. The FMV of her home before the storm was $117,800. The estimated loss in market value from damage was equal to her repair charge of $7,800. The damage caused by TS Yuri was declared a federal disaster (code EM-1212). Bea's deductible was quite high and her insurance company only reimbursed her $1,200. Required: Complete Bea's Form 1040 and Schedules 1, A, and B and Form 4684. • Bea had health coverage for the entire year and does not want to make a contribution to the presidential election campaign. • Make realistic assumptions about any missing data. • Enter all amounts as positive numbers. • If an amount box does not require an entry or the answer is zero, enter "o". • If required round any dollar amount to the nearest dollar. Activa Form 1040 (2018) Bea Jones 466-78-7359 Page 2 1 Wages, salaries, tips, etc. Attach Form(s) W-2 2a Tax-exempt interest 2a b Taxable interest 2b Qualified dividends b Ordinary dividends 3b За 3a Attach Form(s) W- 4a IRAS, pensions, and 2. Also attach b Тахаble amount 4b 4a annuities Form(s) W-2G and 1099-R if tax was Sa Social security benefits Sa b Taxable amount 5b withheld. 6 Total income. Add lines 1 through 5. Add any amount from Schedule 1, line 22 6 Adjusted gross income. If you have no adjustments to income, enter the amount from line 6; otherwise, subtract Schedule 1, line 36, from line 6. Standard Standard deduction or itemized deductions (from Schedule A). Deduction for- Qualified business income deduction (see instructions) 6. • Single or married filing separately, 10 Taxable income. Subtract lines 8 and 9 from line 7. If zero or less, enter -0-.... 10 $12,000 11 a Tax (see inst) (check If any from: 1 o Form(s) 8814 2 D Form 4972 • Married filing jointly or Qualifying widow(er), $24,000 30 b Add any amount from Schedule 2 and check here. 11 • Head of 12 a Child tax credit/credit for other dependents b Add any amount from Schedule 3 and check here. 12 household, Act - Head of b Add any amount from Schedule 3 and check here. 12 household, $18,000 13 Subtract line 12 from line 11. If zero or less, enter -0- 13 • If you checked 14 Other taxes. Attach Schedule 4 14 any box under 15 Total tax. Add lines 13 and 14. 15 Standard deduction, see 16 Federal income tax withheld from Forms W-2 and 1099 16 instructions. 17 Refundable credits: a EIC (see inst.) b Sch 8812 c Form 8863 Add any amount from Schedule 5 17 18 Add lines 16 and 17, These are your total payments. 18 19 If line 18 is more than line 15, subtract line 15 from line 18. This is the amount you Refund overpaid.. 19 ....... 20a Amaunt of line 19 you want refunded to you. If Form 8888 is attached, check here 20a Direct deposit? b Routing number ||| C Type: = Checking - Savings See instructions. d Account number 21 Amount of line 19 you want applied to your 2019 estimated tax..... 21 22 Amount you owe. Subtract line 18 from line 15. For details on how to pay, see Amount instructions... 22 You Owe 23 Estimated tax penalty (see instructions) 23 Activate Windos

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