29 Jun Complete Rhonda Hill’s 2012 federal income tax return.
Question
Complete Rhonda Hill’s 2012 federal income tax return.
Fact:
1. Rhonda Hill (unmarried) is employed as an office manager at the main office of Carter and Associates CPA firm. Rhonda lives in a home she purchased 20 years ago. Rhonda’s older cousin Mabel Wright lives with Rhonda in the home. Mabel is retired and receives $2,400 of Social Security payments each year. Mabel is able to save this money because Rhonda provides all of Mabels support. Rhonda also provided the following info:
Rhonda does not want to contribute to the presidential election campaign.
Rhonda lives at 1234 Blue Ridge Way, Tulsa, OK 74101.
Rhonda’s birthday is 12/18/1957 and her social security number is 335-67-8910.
Mablel’s birthday is 11/2/1945 and her social security number is 566-77-8899.
Rhonda does not have any foreign bank accounts or trusts.
2. Rhonda received a Form W-2 from Carter and Associates (her employer) that
contained the following information:
• Line 1 Wages, tips, other compensation: $72,000
• Line 2 Federal income tax withheld: 9,300
• Line 3 Social Security wages: 72,000
• Line 4 Social Security tax withheld: 3,024
• Line 5 Medicare wages and tips: 72,000
• Line 6 Medicare tax withheld: 1,044
• Line 16 State wages, tips, etc.: 72,000
• Line 17 State income tax: 2,700
• Carter and Associates address is 1234 CPA Way
Tulsa, OK 74101; its FEIN is 91:0001002; and its
State ID number is 123456678
3. Rhonda received $250 in interest from Tulsa City bonds, $120 interest from
IBM bonds, and $15 from her savings account at UCU Credit Union. She also
received a $460 dividend from Huggies Company and $500 from Bicker Corpo-
ration. Both dividends are qualified dividends.
4. Rhonda sold 200 shares of DM stock for $18 a share on June 15, 2012. She
purchased the stock on December 12, 2007, for $10 a share. She also sold
50 shares of RSA stock for $15 a share on October 2, 2012. She purchased the
stock for $65 a share on February 2, 2012. Stock basis amounts have been
reported to the IRS.
5. The following is a record of the medical expense that Rhonda paid for herself
during the year. The amounts reported are amounts she paid in excess of insur-
ance reimbursements.
Insurance premiums $900
Prescription medications 100
Over-the-counter medications 250
Doctor and dentist visits 485
Eyeglasses 300
Physical therapy 200
6. Rhonda paid $2,800 in mortgage interest during the year to UCU credit union.
She also paid $1,200 in real property taxes during the year.
7. Rhonda contributed $2,350 to Heavenly Church during the year. Heavenly
Church’s address is 1342 Religion Way, Tulsa, OK 74101.
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