Shelly Beaman (social security number 412-34-6670) is single and resides at 540 Front Street, Ashland, NC...

 

 

Transcribed Image Text:

Shelly Beaman (social security number 412-34-6670) is single and resides at 540 Front Street, Ashland, NC 27898 Shely's W-2 wages Federal withholding Social security wages Social security withholding Medicare withholding State withholding 1099-INT New Bank 1099-DIV XYZ, Inc. Ordinary dividends Qualified dividends $56,800 10,044 55,800 3,460 3,348 532 258 258 Shelly had the following itemized deductions: State income tax withholding (from W-2) State income tax paid with 2016 return Real estate tax Mortgage interest Charitable contributions $ 3,348 600 4,200 11,800 2,500 Shelly also started her own home design consulting business in March 2017 (Business code, 238990, Cash basis). The results of her business operations for 2017 follow Gross receipts from clients Vehicle mileage $154,000 21,000 business miles (2,100 per month) 32,000 total miles during the year 2010 Chevy Suburban Placed in service 03/01/17 Postage Office supplies (750) (1,500) (155) (5,300) (2.500) (1,000) (550) State license fees Supplies Professional fees Design software Professional education programs (registration) Travel to education program Airplane Lodging $119/night x 3 nights Meals per diem 3 days (350) Business Assets Laptop Computer Printer Copier Furniture Building Date Purchased 6/08/17 3/05/17 3/01/17 6/02/17 4/01/17 3/01/17 Cost $ 2,500 5,700 1,800 1,700 5,000 175,000 Phone Internet service Rent Insurance (600) (450) (8,300) (1,700) Shelly made a $29,000 estimated tax payment on September 15, 2017. Prepare Shelly's Form 1040 for 2017 including all of the supplementary schedules. Schedule A, Schedule B, Schedule C, Form 4562, and Schedule SE are required. Section 179 is elected on all eligible assets in 2017. She wants to contribute to the presidential election campaign and does not want anyone to be a third-party designee. Shelly had qualifying health care coverage at all times during the tax year. For any missing information, make reasonable assumptions. Shelly Beaman (social security number 412-34-6670) is single and resides at 540 Front Street, Ashland, NC 27898 Shely's W-2 wages Federal withholding Social security wages Social security withholding Medicare withholding State withholding 1099-INT New Bank 1099-DIV XYZ, Inc. Ordinary dividends Qualified dividends $56,800 10,044 55,800 3,460 3,348 532 258 258 Shelly had the following itemized deductions: State income tax withholding (from W-2) State income tax paid with 2016 return Real estate tax Mortgage interest Charitable contributions $ 3,348 600 4,200 11,800 2,500 Shelly also started her own home design consulting business in March 2017 (Business code, 238990, Cash basis). The results of her business operations for 2017 follow Gross receipts from clients Vehicle mileage $154,000 21,000 business miles (2,100 per month) 32,000 total miles during the year 2010 Chevy Suburban Placed in service 03/01/17 Postage Office supplies (750) (1,500) (155) (5,300) (2.500) (1,000) (550) State license fees Supplies Professional fees Design software Professional education programs (registration) Travel to education program Airplane Lodging $119/night x 3 nights Meals per diem 3 days (350) Business Assets Laptop Computer Printer Copier Furniture Building Date Purchased 6/08/17 3/05/17 3/01/17 6/02/17 4/01/17 3/01/17 Cost $ 2,500 5,700 1,800 1,700 5,000 175,000 Phone Internet service Rent Insurance (600) (450) (8,300) (1,700) Shelly made a $29,000 estimated tax payment on September 15, 2017. Prepare Shelly's Form 1040 for 2017 including all of the supplementary schedules. Schedule A, Schedule B, Schedule C, Form 4562, and Schedule SE are required. Section 179 is elected on all eligible assets in 2017. She wants to contribute to the presidential election campaign and does not want anyone to be a third-party designee. Shelly had qualifying health care coverage at all times during the tax year. For any missing information, make reasonable assumptions.

Answer rating: 100% (QA)

2017 99 I 1040 US Individual Income Tax Retum OMB No 15450074 RS Uze Only Do not wte a staple in thi... View the full answer