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Schedule B Karenl (age 40) is an employee in XYZ Consulting Group. She is requesting...

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Accounting

Schedule B Karenl (age 40) is an employee in XYZ Consulting Group. She is requesting you, as one of the company's tax accountants, to handle her taxes for the current year. Review the following information for the current tax year that is pertinent to Karen in the following 5 table and below is the income that Karen realized during the year. 6 Karen Income Income Sources Amounts 8 W-2 income $120,000 9 Form 1099-INT 5,000 10 Qualified cash dividend 4,200 11 Distribution from IRA 12,000 12 Jury duty compensation 100 13 State income tax refund for prior year 1,000 14 Additional Information: Karen purchased Ally Corporation bonds between interest 15 periods and paid $1,000 in accrued interest. Karen received a qualified dividend payment from XYZ 16 Corporation of $4,200. 17 Karen itemized in the prior year. 18 19 A. Complete the Schedule B form linked in the lesson with the above listed items. 20 B. Compute below the total taxable income. Detail your answers and show your 1 calculations

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