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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 401 Weeks Ago, 5 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Alice Johnson, Social Security number 222-23-3334, is 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 employee, who withheld a $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 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 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. ' The itemized deduction are $8,000 Complete Form 1040 and accompanying schedules for Alice Johnson's 2011 return. 1. List the forms and accompanying schedules for Alice Johnson's federal tax return 2. Line 9a ' Total ordinary dividends 3. Line 22 ' Total Income 4. Line 43 ' Taxable Income 5. Line 60 ' Total Tax
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