Bea Jones (birthdate March 27, 1984) moved from

Question # 00515687 Posted By: rey_writer Updated on: 04/22/2017 01:47 AM Due on: 04/22/2017
Subject Accounting Topic Accounting Tutorials:
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Bea Jones (birthdate March 27, 1984) moved from Texas to Florida in December 2015. She lives at 654 Ocean Way, Gulfport, FL 33707. Bea's social security number is 466-78-7359 and she is single. Her earnings and income tax withholding for 2016 for her job as a manager at a Florida shrimp processing plant are:


Earnings from the Gulf Shrimp Co. - $42, 175

Federal Income Tax withheld - 7,800

State income tax withheld - 0


Bea's other income includes interest on a savings account at Beach National Bank of $2,175 and $620 per month alimony from her ex-husband.


During 2016, Bea paid the following amounts (all of which can be substantiated):


Home mortgage interest - $8,780

Auto loan interest - 2,300

State sales tax - 820

Property taxes on personal residence - 3,233

Unreimbursed hospital bills - 3, 250

Doctor bills - 2,564

Other deductible medical expenses - 720

Income tax preparation fee - 600

Job hunting expenses - 925

Union Dues - 800


In July 2016, someone broke into Bea's house and stole a diamond ring she had purchased in 2004. The diamond ring had a fair market value of $11,000 and a tax basis to Bea of $7,700. The ring was uninsured.


Required: Complete Bea's federal tax return for 2016. Use Form 1040, Schedule A, Schedule B, and Form 4684. Make realistic assumptions about any missing data.

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