Question: Please help with the tax forms!! 51. Ashley Panda lives at 1310 Meadow Lane, Wayne, OH 43466, and her Social Security number is 123-45-6789. Ashley

 Please help with the tax forms!! 51. Ashley Panda lives at1310 Meadow Lane, Wayne, OH 43466, and her Social Security number is

Please help with the tax forms!!

51. Ashley Panda lives at 1310 Meadow Lane, Wayne, OH 43466, and her Social Security number is 123-45-6789. Ashley is single and has a 20-year-old son, Bill His Social Security number is 111-11-1112. Bill lives with Ashley, and she fully supports him. Bill spent 2018 traveling in Europe and was not a college student He had gross income of $4,655 in 2018. Bill paid $4,000 of lodging expenses that Ashley reimbursed after they were fully documented. Ashley paid the $4,000 to Bill using a check from her sole proprietorship. That amount is not included in the items listed below. Ashley had substantial health problems during 2018, and many of her expenses were not reimbursed by her health insurance Ashley owns Panda Enterprises, LLC (98-7654321), a data processing service which she operates as a sole proprietorship. Her business is located a 456 Hill Street, Wayne, OH 43466. The business activity code is 514210. Her 2018 Form 1040, Schedule C for Panda Enterprises shows revenues of $315,000, office expenses of $66,759, employee salary of $63,000, employee payroll taxes of $4,820, business meal expenses (before the 50% reduction) of $22,000, and rent expense of $34,000 The rent expense includes payments related to renting an office ($30,000) and payments related to renting various equipment ($4,000). There is no depreciation reciated in previous years. No fringe benefits are provided to the employee. Ashley personally purchases preciable equipment owned has been fully dep because all clep health insurance on herself and Bill. The premiums are $23,000 per year Ashley has an extensive stock portfolio and has prepared the following analysis Number of Shares Purchased Date Date Sold 10/11/18 10/11/18 Per-Share Per-Share Total Cost $80 43 62 Selling Price Dividends $ 74 10/18/17 10/11/11 3/10/18 Garland Peach 30 70 45 Note: Ashley received a Form 1099-B from her stockbroker that included the adjusted basis and sales proceeds for each of her stock transactions. The per-share cost includes commissions, and the per-share selling price is net of commissions. Also, the dividends are the actual dividends received in 2018, and these are both ordinary dividends and qualified dividends. Ashley had $800 of interest income from State of Ohio bonds and $600 of interest income on her Wayne Savings Bank account. She paid $25,000 of alimony to her former husband. His Social Security number is 123-45-6788 Ashley itemizes her deductions and provides the following information, which may be relevant to her return Amount Comment Item Unreimbursed medical expenses for $11,786 Does not include health insurance Ashley State income taxes paid Real property taxes on personal premiums. 1,830 3,230 8,137 1,399 residence Interest paid on home mortgage The loan is secured by the residence and was (Form 1098) incurred when the home was purchased. $940 cash payments to Ashley's church and Charitable contributions $459 cash payments made to homeless persons for whom she felt sorry. She can document all the expenditures. Sales taxes 619 Amount per sales tax table Ashley made a $26,000 estimated Federal income tax payment, does not want any of her taxes to finance presidential elections, has no foreign bank accounts or trusts, and wants any refund to be applied against her 2019 taxes Compute Ashley's net tax payable or refund due for 2018. If you use tax forms for your computations, you will need Form 1040 and its Schedules A, C, D, and SE and Form 8949. Ashley qualifies for the S 199A deduction for qualified busi ness income. Be sure to include that in your calculations 51. Ashley Panda lives at 1310 Meadow Lane, Wayne, OH 43466, and her Social Security number is 123-45-6789. Ashley is single and has a 20-year-old son, Bill His Social Security number is 111-11-1112. Bill lives with Ashley, and she fully supports him. Bill spent 2018 traveling in Europe and was not a college student He had gross income of $4,655 in 2018. Bill paid $4,000 of lodging expenses that Ashley reimbursed after they were fully documented. Ashley paid the $4,000 to Bill using a check from her sole proprietorship. That amount is not included in the items listed below. Ashley had substantial health problems during 2018, and many of her expenses were not reimbursed by her health insurance Ashley owns Panda Enterprises, LLC (98-7654321), a data processing service which she operates as a sole proprietorship. Her business is located a 456 Hill Street, Wayne, OH 43466. The business activity code is 514210. Her 2018 Form 1040, Schedule C for Panda Enterprises shows revenues of $315,000, office expenses of $66,759, employee salary of $63,000, employee payroll taxes of $4,820, business meal expenses (before the 50% reduction) of $22,000, and rent expense of $34,000 The rent expense includes payments related to renting an office ($30,000) and payments related to renting various equipment ($4,000). There is no depreciation reciated in previous years. No fringe benefits are provided to the employee. Ashley personally purchases preciable equipment owned has been fully dep because all clep health insurance on herself and Bill. The premiums are $23,000 per year Ashley has an extensive stock portfolio and has prepared the following analysis Number of Shares Purchased Date Date Sold 10/11/18 10/11/18 Per-Share Per-Share Total Cost $80 43 62 Selling Price Dividends $ 74 10/18/17 10/11/11 3/10/18 Garland Peach 30 70 45 Note: Ashley received a Form 1099-B from her stockbroker that included the adjusted basis and sales proceeds for each of her stock transactions. The per-share cost includes commissions, and the per-share selling price is net of commissions. Also, the dividends are the actual dividends received in 2018, and these are both ordinary dividends and qualified dividends. Ashley had $800 of interest income from State of Ohio bonds and $600 of interest income on her Wayne Savings Bank account. She paid $25,000 of alimony to her former husband. His Social Security number is 123-45-6788 Ashley itemizes her deductions and provides the following information, which may be relevant to her return Amount Comment Item Unreimbursed medical expenses for $11,786 Does not include health insurance Ashley State income taxes paid Real property taxes on personal premiums. 1,830 3,230 8,137 1,399 residence Interest paid on home mortgage The loan is secured by the residence and was (Form 1098) incurred when the home was purchased. $940 cash payments to Ashley's church and Charitable contributions $459 cash payments made to homeless persons for whom she felt sorry. She can document all the expenditures. Sales taxes 619 Amount per sales tax table Ashley made a $26,000 estimated Federal income tax payment, does not want any of her taxes to finance presidential elections, has no foreign bank accounts or trusts, and wants any refund to be applied against her 2019 taxes Compute Ashley's net tax payable or refund due for 2018. If you use tax forms for your computations, you will need Form 1040 and its Schedules A, C, D, and SE and Form 8949. Ashley qualifies for the S 199A deduction for qualified busi ness income. Be sure to include that in your calculations

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