Determining income tax return

Reference no: EM13141100

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 $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 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 $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 term life insurance. Alice is 42 years old and is not a key employee. The table in the text is applicable.
Received $1,000 cash award from her employer for being designated the Secretary of the Year.
Total itemized deductions are $8,000.

Complete Form 1040 and the accompanying schedules for Alice Johnson's 2011 return

Reference no: EM13141100

Questions Cloud

How could you characterize any non serratia marcescens : within the context of this simulation, how could you characterize any "non Serratia marcescens" growth on slide 1 or 2 of your plate.

Record the conversion of the bonds : Provide the journal entry to record the conversion of the bonds assuming Picard considers the conversion

Consider a direct sequence spread spectrum : Consider a direct sequence spread spectrum (DSSS) system attempting to transfer data. The DSSS system has a data rate of 2 Kbps (2 thousand bits/sec) which is spread to 2 Mcps

Should teachers take time to understand : Question for Maria 10.3 is "Should teachers take time to understand a student's culture? Is it really relevant?" 2. Question for Martha 3.3 is "Should Governments provide compulsory training for parents and guardians to give them opportunities to ta..

Determining income tax return : 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:

Does the agar have an antibiotic beyond zone of inhibition : does the agar have an antibiotic beyond the zone of inhibition? how does your answer tie in with MIC?

Problem regarding lease or buy the pcs : Discuss the implication's related to the CFO's desire to keep the transaction "off" the balance sheet. Base on the information presented make a recommendation as to whether AMG should lease or buy the PCs.

Design a procedure that would make it quantitative : using a volumetric loop is a semiquanitive technique. why is it not quantitative? Design a procedure that would make it quantitative.

Determining convertible bonds and stock warrants : For each of the unrelated transactions described below, present the entry(ies) required to record the bond transactions.

User Account

All Pages