During $2022,$ Cassandra Albright, who is single, worked part$-$time at a doctor$$s office and received a W$-2.$ She also had a consulting practice that had the following income and expenses:

Revenue $ $53,000$

Laptop computer purchased $4/23/22(179$ elected$)3,300$

Travel: $2,500$ miles for business, $13,000$ personal $($miles incurred ratably throughout the year$)$

Supplies $500$

Cell phone charge $960$

Cassandra $($SSN $412-34-5670)$ resides at $1400$ Medical Street, Apartment $3$A$,$ Lowland, CA $92273.$

Her W$-2$ shows the following:

Wages $ $49,223$

Federal withholding $5,200$

Social security wages $49,223$

Social security withholding $3,052$

Medicare withholding $714$

State withholding $2,265$

Other income:

$1099-$INT Old Bank $2,200$

$1099-$DIV Bake Company, Incorporated$$Ordinary dividends $3,500$

Qualified dividends $3,500$

Cassandra had the following itemized deductions:

State income tax withholding $ $2,265$

State income tax paid with the $2021$ return $350$

Real estate tax $3,450$

Mortgage interest $12,300$

Cassandra made two federal estimated payments of $$6,500$ each on April $15$ and June $15.$

Required: generate the $2022$ Form $1040$ and supporting schedules for the taxpayer using TaxAct or Proconnect.

Answer rating: 100% (QA)

Preparing a full 2022 Form 1040 and its supporting schedules for Cassandra Albright involves detailed tax software calculations and can be complex However I can provide a stepbystep guide on how to fi... View the full answer