In: Accounting
Could you please prepare tax return form 1040 and other schedules and forms for this problem and upload pictures
Jorge Gomez is a single taxpayer. His SSN is 412-34-5670, and he lives at 5037 Circle Court, Crestview, IL 60543. He is a supervisor and his W2 for 2017 shows gross wages of $94,850 with $5,881 of social security and $1,375 of Medicare taxes withheld. He has $17,147 of federal withholding and $2,595 in state withholding. Jorge does not itemize. He had the following stock transactions for the year:
Stock Shares |
Date Purchased |
Date Sold |
Sale Price |
Cost Basis |
|||||||
5,500 |
7/8/16 |
9/21/17 |
$ |
15,000 |
$ |
18,000 |
|||||
800 |
3/12/17 |
10/21/17 |
43,000 |
47,000 |
|||||||
2,800 |
2/13/10 |
10/21/17 |
30,000 |
22,000 |
|||||||
He also has interest from a savings account with Local Neighborhood Bank of $250 and a dividend from a Form 1099-DIV of $1,600 in ordinary dividends, of which $1,350 are considered qualified dividends.
Prepare a 2017 Form 1040 for Jorge and all related schedules and
forms. Jorge had qualifying health care coverage at all times
during the tax year.
Use the appropriate Tax Tables.