Mya Lucky Day was unable to work in 2018 (thanks to a workplace injury sustained last year); nonetheless, she still amassed a material amount of gross income in 2018 from various sources.

Mya has asked for your assistance in determining how much of the $511,830 gross income she realized in 2018 must also be recognized as taxable income on her 2018 individual income tax return.She also needs help with the proper presentation of the recognized income amounts on her Form 1040 and Schedule 1.

Directions

• Compute Recognized Gross Income

1. Download Application Assignment - Gross Income.docx.
2. Input the amount of Mya's 2018 recognized gross income (i.e. taxable income) from each source using the "Amount Recognized" column of the table provided in the PBC information (enter 0 if applicable).

• Prepare Schedule 1, Lines 10 - 22

1. Download Schedule 1 - Gross Income Practical Application.pdf.
2. Complete the "Additional Income" section of Mya's 2018Schedule 1 (i.e. Lines 10 - 22).

• Prepare Form 1040, Lines 1 - 6

1. Download Form 1040 - Gross Income Practical Application.pdf.
2. Complete the "Total income" section of Mya's 2018 Form 1040, Page 2 (i.e. Lines 1 - 6).