Please complete the 2019 Form 1040 (Stop after completing Line 12a, round up to the nearest dollar),

Schedule-1 and Schedule A for the taxpayer:

Julie Anderson is a project manager and her wage is 74,200. Julie's father passed away on April 14. She inherited her fathers cottage (vacation home) in Montana and 80,000 cash. She used the 80,000 to invest in an annuity product that pays her $ 10,000 per year for the next 10 years. The first yearly payment ($10,000) was received on December 15th, 2019

Her 2019 filing status is Single. She also has the following items for 2019:

Interest income from:

Capital One 200

City of San Francisco municipal bond 600

US Treasury bond. 800

Ordinary dividends from her investment in Wells Fargo 500. All the dividends are qualified for the 15% tax rate.

She also bought 50 shares Apple Inc. stock (AAPL) when the price was $100 per share. AAPL's market closing price for December 2019 is $250 per share. No shares were sold during the year.

During the year she went to Wynn Las Vegas and won $ 1,300 in a poker game. However, she lost $2,000 at another casino.

She received $4,000 insurance payout from AFLAC. The insurance policy was bought by herself.

She has the following refunds and withholdings in 2019, and took the standard deduction on her 2018 federal tax return.

California state income tax refund 250

State income tax withheld from her paycheck. .4200

Federal income tax withheld from her paycheck. 9000

Social security tax paid as an employee............. 5340

She owns and lives in her house in Fresno, CA and has the following expenses:

Home mortgage loan interest 8700

Home mortgage loan points (not reported on Form 1098).. 200

Real estate tax on her house 4000

Personal-use car loan interest.. 2000

She also paid 2000 of qualified student loan interest.

Ms. Anderson had a medical procedure and incurred qualified medical costs of $30,000. Her health insurance policy pays 80% of the medical cost and Julie paid the remaining 20% out of her own pocket.

Question 1 (2 points)

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Form 1040 Line 1 _____ (Wages, enter without comma or $)

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Question 2 (1 point)

Saved

Form 1040 Line 2a (Tax-exempt interest)

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Question 3 (2 points)

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Taxable interest on 1040 Line 2b _______

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Question 4 (2 points)

Saved

1040 Line 3b (Dividends) ________

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Question 5 (1 point)

Form 1040 Line 4c (Annuities)

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Question 6 (2 points)

Form 1040 Line 4d (Taxable amount)

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Question 7 (2 points)

Form 1040 Line 6 (capital gains or loss, enter zero if none)

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Question 8 (2 points)

Schedule 1, Line 1 Taxable refunds (enter 0 if none) ______

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Question 9 (2 points)

The payment from Aflac is taxable

Question 9 options:

	True
	False

Question 10 (2 points)

Schedule 1, Line 8 Other income (enter 0 if none) ______

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Question 11 (1 point)

The applicable student loan interest phase-out percentage is

Question 11 options:

	20%
	40%
	60%
	80%

Question 12 (1 point)

Schedule 1, Line 20 (Deductible student loan interest) ______

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Question 13 (1 point)

Form 1040, Line 8b (Adjusted Gross Income) ______

Question 13 options:

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Question 14 (1 point)

Schedule-A Line 1 (round off decimal points if applicable. Do not include $ or ,)

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Question 15 (1 point)

Schedule-A Line 4 (Deductible Medical Expense)

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Question 16 (1 point)

The federal tax withheld is deductible on Schedule-A

Question 16 options:

	True
	False

Question 17 (2 points)

Schedule A Line 5a ______

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Question 18 (2 points)

Schedule A Line 5b ____

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Question 19 (1 point)

She can deduct the $5340 social security tax paid as an itemized deduction on Schedule-A

Question 19 options:

	True
	False

Question 20 (3 points)

Schedule A Line 8a (Deductible interest) _____

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Question 21 (2 points)

Schedule-A Line 8c (Deductible mortgage interest points)

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Question 22 (1 point)

The $2000 Personal-use car loan interest can be a deduction From AGI

Question 22 options:

	True
	False

Question 23 (2 points)

Schedule-A Line 16 Other Itemized Deductions _____

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Question 24 (1 point)

Schedule-A Total Itemized Deductions ______

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Question 25 (1 point)

The total itemized deduction is larger than standard deduction

Question 25 options:

	True
	False

Question 26 (1 point)

Form 1040 Line 9 (Standard or Itemized Deduction) ______

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Question 27 (1 point)

Taxable income _______

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Question 28 (3 points)

Total Tax (Round up to the nearest dollar) _______

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Question 29 (2 points)

Where could Julie deduct the utilities and insurance on the cottage in Montana? She does not live there and plans to rent it out for income next year.

Question 29 options:

	On Schedule-A as Itemized Deduction next year
	On Schedule-C as Deduction For AGI next year
	On Schedule-E as Deduction For AGI next year
	None of the above

Question 30 (2 points)

Saved

Julie cannot deduct the attorney fees to execute her father's will

Question 30 options:

	True
	False

Question 31 (2 points)

Julie can deduct the fees paid to you to prepare her tax return this year

Question 31 options:

	True
	False