In: Accounting
pendix E: Kytrina Casio Information
For your fifth client, your boss wants you to prepare Form 1040, Schedule A, B, and
supporting forms (e.g., 4684) for Kytrina Casio for the most recent tax year.
Facts: Kytrina is a 30-year old single person. She is a graphic artist who also works in
an antique store on weekends. For last year, she had the following information:
T
axpayer:
Kytrina Casio
123 Park Avenue
Flowers, TX
75000
Social Security No.
123-45-6789
INCOME
:
W-2 from 1
st
employer
Gross wages income:
$13,164
Federal Withholding
921
W-2 from 2d employer
Gross wages income:
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
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 garage, located in a federally declared
disaster area, was destroyed by the disaster. Cost and fair
market value were:
9,000
Insurance pay out for the garage disaster loss:
3,000
Property taxes on her home
2,600
Using these facts, prepare Form 1040, Schedules A, and B for Kytrina 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 4684 and instructions