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Kia Lopez is single (SSN 412-34-5670) and resides at 101 Poker Street, Apartment 12A, Hickory,...

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Accounting

Kia Lopez is single (SSN 412-34-5670) and resides at 101 Poker Street, Apartment 12A, Hickory, FL 34714. Her W-2 shows the following:

Wages $ 56,500
Federal withholding 5,100
Social security wages 56,500
Social security withholding 3,503
Medicare withholding 819
State withholding -0-

In 2022, Kia contributed cash of $7,000 to Apartment Rentals Limited Partnership (ARLP) in return for a 13% limited partnership interest. She is an active participant. Kias shares of ARLP income and losses for the year per her K-1 were as follows:

Interest $ 35
Dividends (qualified) 290
Capital gains (long-term) 700
Rental loss (8,300)

ARLP had no liabilities. Kia does not itemize and has no other investments or passive activities.

Prepare Form 1040 for Kia Lopez for 2022. You will need Form 1040, Schedules 1, D, E (page 2), Form 6198, and Form 8582. Use the appropriate Tax Tables and Tax Rate Schedules.

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