tax return preparation, accounting homework help
Brenda Carlyle attended Kansas State University during 2010–2014. Sheincurred education expenses of $10,000 in total for her education, and$1,500 of that amount was incurred in 2014 for her last semester. Tofinance her education, she borrowed $7,000 through a federal studentloan program and borrowed another $3,000 from Kansas State Credit Unionfor educational purposes. After graduation, she accepted a position withthe Dallas office of BDO Seidman and moved there in May 2014. She livesat 4560 Ranchero Lane, Dallas, TX 75201. Her social security number is412-34-5670 (date of birth 7/10/1992).Her W-2 contained the following information:Wages (box 1) = $67,533.05Federal W/H (box 2) = $ 8,994.95Social security wages (box 3) = $67,533.05Social security W/H (box 4) = $ 4,187.05Medicare wages (box 5) = $67,533.05Medicare W/H (box 6) = $ 979.23In moving to Dallas, she incurred the following moving expenses:$475 in gasoline.$295 for renting a truck from IGOTYA rentals.$75 in food.$410 for motel lodging on the way to Dallas.Shealso received two Forms 1098-E. One was from the federal student loanprogram, which showed $450 of student loan interest; the other was fromKansas State Credit Union and showed $150.75 of student loan interest.Preparea Form 1040, a Form 3903, and a Form 8917. If manually preparing thereturn, the Student Loan Interest Deduction worksheet can be found inIRS Publication 970, Tax Benefits for Education. Prepare Brenda's form 1040
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