Question

Appendix G: Christina Hunter Information

For your seventh client, your boss wants you to prepare Form 1040, Schedules A, B, D and supporting forms (8949, 4684, 4797) for Christina Hunter.

Facts:

Christina is a 30-year old single woman who works full time as a hair stylist and part time as the hair stylist at a local theater company.   No one else can claim Christina as a dependent. For 20X1, she had the following information:

Taxpayer	Christina Hunter 123 Candy Land Lane Cantonment, FL 33400
Social Security No.	123-45-6789
INCOME:
W-2 from 1st employer Gross wages income:	$13,164
Federal Withholding	$     921
W-2 from 2d employer Gross wages:	$50,000
Federal withholding	$ 9,500
Interest income from bank	$132
Interest income from brokerage firm	$2,100
Ordinary "qualified" dividends from large U.S. corporation	$3,000
She sold the following assets during last year:
General Motors stock, 1000 shares, bought 1/1/2010 for $10,000, sold July 1, 20X1 for	$16,000
Sold Facebook, 500 shares, bought for $8,000 on February 1, 20X1 of last year, and sold on August 1st 20X1 of last year for	$6,000
Sold her car on Craigslist, bought July 13, 20X3 at $25,000, sold on October 1st, 20X1 of last year for	$9,000
Sold her fishing boat, which she paid $3,000 on July 1, 20X3, on November 1st of last year20X1 for	$4,000
POSSIBLE DEDUCTIONS
Mortgage interest paid	$6,700
State and local income taxes paid	$1,400
Charitable contributions to a 501(c)(3) charity	$1,800
Casualty loss, her storage shed was destroyed when a tree fell on it.   Cost and fair market value:	$9,000
Insurance pay out for the shed:	$3,000
Property taxes on her home	$2,600

Using the facts above, prepare Form 1040, Schedules A, B & D for Christina for the most recent year for which there is a form (this is almost always the year prior to the present year).   Remember to consider both the standard deduction vs. itemized deduction.   Also, you may need other forms, such as the 8949, and 4684, or 4797.

Once you have completed the forms manually

Appendix G: Christina Hunter Information

For your seventh client, your boss wants you to prepare Form 1040, Schedules A, B, D and supporting forms (8949, 4684, 4797) for Christina Hunter.

Facts:

Christina is a 30-year old single woman who works full time as a hair stylist and part time as the hair stylist at a local theater company.   No one else can claim Christina as a dependent. For 20X1, she had the following information:

Taxpayer	Christina Hunter 123 Candy Land Lane Cantonment, FL 33400
Social Security No.	123-45-6789
INCOME:
W-2 from 1st employer Gross wages income:	$13,164
Federal Withholding	$     921
W-2 from 2d employer Gross wages:	$50,000
Federal withholding	$ 9,500
Interest income from bank	$132
Interest income from brokerage firm	$2,100
Ordinary "qualified" dividends from large U.S. corporation	$3,000
She sold the following assets during last year:
General Motors stock, 1000 shares, bought 1/1/2010 for $10,000, sold July 1, 20X1 for	$16,000
Sold Facebook, 500 shares, bought for $8,000 on February 1, 20X1 of last year, and sold on August 1st 20X1 of last year for	$6,000
Sold her car on Craigslist, bought July 13, 20X3 at $25,000, sold on October 1st, 20X1 of last year for	$9,000
Sold her fishing boat, which she paid $3,000 on July 1, 20X3, on November 1st of last year20X1 for	$4,000
POSSIBLE DEDUCTIONS
Mortgage interest paid	$6,700
State and local income taxes paid	$1,400
Charitable contributions to a 501(c)(3) charity	$1,800
Casualty loss, her storage shed was destroyed when a tree fell on it.   Cost and fair market value:	$9,000
Insurance pay out for the shed:	$3,000
Property taxes on her home	$2,600

Using the facts above, prepare Form 1040, Schedules A, B & D for Christina for the most recent year for which there is a form (this is almost always the year prior to the present year).   Remember to consider both the standard deduction vs. itemized deduction.   Also, you may need other forms, such as the 8949, and 4684, or 4797.

This are all the information

Answer 1

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