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Appendix D: Jenny Singer Information For the fourth client, Jenny Singer, your boss wants...

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Accounting

Appendix D: Jenny Singer Information

For the fourth client, Jenny Singer, your boss wants you to prepare Form 1040, Schedule A, B and supporting forms (4684).

Facts:

Jenny is a 30-year old single woman. She is a financial planner and also works a side job on weekends in an art gallery. No one else can claim Jenny as a dependent. For 20X1, she had the following information:

Taxpayer:

Jenny Singer

123 French Street

Paris, TX 72000

Social Security No.

123-45-6789

INCOME

W-2 from 1st employer

Gross wages income:

$13,164

Federal withholding

$ 921

W-2 from 2nd employer

Gross wages:

$50,000

Federal withholding

$ 9,500

Interest income from bank

$ 132

Interest income from brokerage firm

$ 2,100

Ordinary "qualified" dividends from a large U.S. corporation

$ 3,000

Using the facts above, prepare Form 1040, Schedule A & B for Jenny for the most recent year for which there is a form (this is almost always the calendar year prior to the present year). Remember to consider both the standard deduction and the personal exemption, if any. Also, you may need other forms, such as the 4684 and instructions.

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