Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Taxation Expert

Alice Johnson, Social Security number 222-23-3334, is a single taxpayer and is employed as a secretary by state University of FloridaShe has the following items pertaining to her income tax return for the current year:

Received as $20,000 salary from her employer, who withheld $3,000 federal income tax.

Received a gift of 1,000 shares of Ace Corporation stock with a $100,000 FMV from her motherShe also received $4,000 of cash dividends from the Ace CorporationThe dividends are qualified dividends.

Received $1,000 of interest income on bonds issued by the City of Tampa.

Received a regular stock dividend (nontaxable under Sec305) of 50 shares of Ace Corporation stock with a $5,000 FMV.

Alice's employer paid $2,000 of medical and health insurance premiums on her behalf.

Received $12,000 alimony from her ex-husband.

State University provided $60,000 of group terms life insuranceAlice is 42 years old and is not a key employeeThe table is the text is applicable.

Received a $1,000 cash award from her employer for being designated the Secretary of the year.

Total itemized deductions are $8000.

Complete Form 1040 and accompanying schedules for s 2013 return.

Taxation, Accounting

  • Category:- Taxation
  • Reference No.:- M92089266
  • Price:- $25

Priced at Now at $25, Verified Solution

Have any Question?


Related Questions in Taxation

Assignment - all answers must be supported with references

Assignment - All answers must be supported with references to relevant legislation, caselaw and/or tax rulings QUESTION 1 - Principles and Concepts Between April 1981 and May 2017, Simon Krupcheck held various managerial ...

Business taxation assignment -assignment question - carson

BUSINESS TAXATION ASSIGNMENT - ASSIGNMENT QUESTION - Carson Pty Ltd ("Carson"), an Australian resident company for tax purposes, carries on numerous business activities. In the first half of 2014, Carson has thoughts of ...

Question - in june 2016 tom had signed an agreement in

Question - In June 2016 Tom had signed an agreement in Sydney with XYZ Ltd to act as the company's plantation manager in Brunei until June 2018. At the time of signing the agreement, Tom was advised that it was possible ...

Taxation theory practice amp law assignment -question 1 -

Taxation Theory, Practice & Law Assignment - Question 1 - You are working as a tax consultant in Mayfield, NSW. Your client is an investor and antique collector. You have ascertained that she is not carrying on a busines ...

Question - corporate taxation please respond to the

Question - "Corporate Taxation" Please respond to the following: Analyze the significant rules concerning the manner in which corporations treat the dividends that they are paying. Based on your analysis, recommend at le ...

Taxation law amp practice assignment -part 1 -on 1 july

Taxation Law & Practice Assignment - Part 1 - On 1 July 2016 Frank Lloyd commenced business as an architect. He operated as a sole proprietor from a converted garage at the rear of his residence. Much of his work consist ...

Question - amber owned and operated a boutique chocolate

Question - Amber owned and operated a boutique chocolate shop in Sydney that she purchased for $240,000 in August 2010. The purchase price consisted of equipment and stock worth $110,000 and the balance being goodwill. F ...

Taxation theory practice amp law assignment -question 1 -

Taxation Theory, Practice & Law Assignment - Question 1 - You are working as a tax consultant in Mayfield, NSW. Your client is an investor and antique collector. You have ascertained that she is not carrying on a busines ...

1-several years ago courtney borrowed 100000 of recourse

1-Several years ago, Courtney borrowed $100,000 of recourse debt from the Friendly Local Bank and used it to buy some equipment to start up a business. Courtney's business results have been disappointing and she has not ...

Question 1ruby engineering pty ltd ruby was incorporated in

Question 1 Ruby Engineering Pty Ltd [Ruby] was incorporated in 1990 and produced engine components used in the Australian car industry. In 2016 the business and company assets were sold to Diamond Ltd. Under the terms of ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As