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(Answered) Use the following information to complete Rhonda Hill?s 2012


Use the following information to complete Rhonda Hill?s 2012
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Use the following information to complete Rhonda Hill?s 2012 federal,

 

income tax return. If information is missing, use reasonable assumptions,

 

to fill in the gaps.,

 

? The forms, schedules, and instructions can be found at the IRS,

 

Web site (www.irs.gov). The instructions can be helpful in completing,

 

the forms.,

 

,

 

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 Mabel?s,

 

support. Rhonda also provided the following information:,

 

? 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.,

 

? Mabel?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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