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Business, 24.04.2020 01:40 sierrastrickland99

Bea Jones (birthdate March 27, 1984) moved from Texas to Florida in December 2015. She lives at 654 Ocean Way, Gulfport, FL 33707. Bea's Social Security number is 466-78-7359 and she is single. Her earnings and income tax withholding for 2016 for her job as a manager at a Florida shrimp-processing plant are:Earnings from the Gulf Shrimp Co. $42,175Federal income tax withheld 7,800State income tax withheld 0Bea's other income includes interest on a savings account at Beach National Bank of $2,175 and $620 per month alimony from her ex-husband. During 2016, Bea paid the following amounts (all of which can be substantiated):Home mortgage interest $8,780Auto loan interest 2,300State sales tax 820Property taxes on personal residence 3,233Unreimbursed hospital bills 3,250Doctor bills 2,564Other deductible medical expenses 720Income tax preparation fee 600Job-hunting expenses 925Union dues 800In July 2016, someone broke into Bea's house and stole a diamond ring she had purchased in 2004. The diamond ring had a fair market value of $11,000 and a tax basis to Bea of $7,700. The ring was uninsured. Required:Complete Bea's federal tax return for 2016. Use Form 1040, Schedule A, Schedule B, and Form 4684, to complete this tax return. Make realistic assumptions about any missing data. If an amount box does not require an entry or the answer is zero, enter "0". Enter all amounts as positive numbers. If required, round any amounts to the nearest dollar.

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Bea Jones (birthdate March 27, 1984) moved from Texas to Florida in December 2015. She lives at 654...

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