Reference no: EM13792255
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 2013 return.
How to complete question 2 "Received a gift of 1,000 shares of Ace Corporation stock with a $100,000 FMV from her mother" and question 4 "Alice’s employer paid $2,000 of medical and health insurance premiums on her behalf." in 1040 form?
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