Question

1:4 61 Alice Johnson, Social Security number 222-23-3334, is a single taxpayer and is employed as a secretary by State University of Florida. She has the following items pertaining to her income tax return for the current year • Received a $30,000 salary from her employer, who withheld $4,200 federal income tax • Received a gift of 1,000 shares of Ace Corporation stock with a $100,000 FMV from her mother. She also received $4,000 of cash dividends from the Ace Corporation. The 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 Sec. 305) 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 $13,000 alimony from her ex-husband. They divorced on August 1, 2014 State University provided $60,000 of group term life insurance Alice is 42 years old and is not a key employee. The table in 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 $10,000 Complete Form 1040 and accompanying schedules for Ahce Johnson's 2019 return a 125 hp ) presc

form 1040, schedule 1, schedule B

2018 or 2019

Answer 1

Q Alice Johanson, social security Numbes 222 - 23 - 334, is a single. ? sol 인 Alice Johnson's 2019 return schedules in form 1040 and accompaning Amount ($) 30,000 1,000 Faxable income under form 1040 By income under the Head salary salary Cash Reward al income undeż the Head otthses sources -qoft of shares from her mother Cit is exempt, since received from The relatives) interest income Dividend C EXEMPTED) Amount from Ex- Husbend (Taxable) 1,000 13,000 45,000 AGI Less: De ductions 2,000 medical insurance 10,000 Othez's 33,000 Taxable income