Compute the tax for 2019 using the 1040 form and schedules

Taxpayer Irene Done, age 40, works as a CPA for Indianapolis Industries, Inc., as well as having a parttime private practice. Her daughter Shirley Done, is age 5, and mom spends $8000 a year for child care at her nursury school.

Irene had the following receipts in 2019:

salary $40,000

medical insurance premiums paid by employer 1,000 group term life insurance face value twice her salary

Pepsi dividends (qualified) 500

Bank Ten CD interest 500

MSD of Perry Township school bond interest 500

Pepsi contest winner: trip to New York City 1,000

Alimony from ex-husband (divorce 1/1/15) 12,000

Child support from ex-husband 4,000

rents from apartment double 12,000

income from private practice 12,000

gift from mother 10,000

Irene had the following expenses in 2019:

CPA business: office rent 6,000

computer purchased 1/1/19 (tax maximum depreciation) 3,000

insurance 1,000

supplies 1,000

Rentals: cost of apartment building $100,000 bought 6/1/99 -

taxes paid 2,000

insurance 1,000

surgery expenses for daughter Shirley 5,000

Indiana income taxes 2,500

property tax for automobile 500

property tax on home 2,000

church contribution 2,000

home mortgage interest 5,000

personal credit card interest 500

Sales of stock Sold Coke Stock held 6 months: AR $10,000; basis $12,000

Sold land held 2 years: AR $20,000; basis $10,000