Bea Jones (birthdate March 27, 1984) moved from Texas to Florida in December 201

Question

Bea Jones (birthdate March 27, 1984) moved from Texas to Florida in December 2016. 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 2017 for her job as a manager at a Florida shrimp-processing plant are: Earnings from the Gulf Shrimp Co. $42,325 Federal income tax withheld 6,200 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 2017, Bea paid the following amounts (all of which can be substantiated): Home mortgage interest $8,620 Auto loan interest 2,300 State sales tax 820 Property taxes on personal residence 3,233 Unreimbursed hospital bills 3,250 Doctor bills 2,612 Other medical expenses 720 Income tax preparation fee 600 Job-hunting expenses 925 Union dues 800 In July 2017, 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 $9,600 and a tax basis to Bea of $8,000. The ring was uninsured. Required: Complete Bea's federal tax return for 2017. Use Form 1040, Schedule A, Schedule B, and Form 4684, to complete this tax return. Make realistic assumptions about any missing data.

Explanation / Answer

Form 1040

Hime mortgage expenses $8620-schedule A

Auto loan expenses $2300-schedule C

State sales tax $820-schedule A

Property tax on ptofessional residence $3233-Schedule A

Unreimbursed hospital bill $3250-Schedule A

Doctor bill $2612-schedule A

Other mediacl exp $720-schedule A

Incometax preparation $600-schedule A

Job hunting expenses $925-schedule A

Union dues $800-schedule B

Diamond ring stolen $9600-schedule A

Uninsured ring $8000- schedule A

All expenses are in schedule A

All earnings should come under schedule E in form 1040

Form 4684

Losses

Uninsured ring$8000

Doctor bill $2612

Due return -$800

Int on savings account 0$2175

Stolen ring but uninsured should not added in form4684

Unreimburwed hospital bill-$3250

Other medical expenses-$720

Auti loan intrrest -$ 2300-schdule B

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