Description
Brenda Carlyle attended Kansas State University during 2010–2014. She incurred education expenses of $10,000 in total for her education, and $1,500 of that amount was incurred in 2014 for her last semester. To finance her education, she borrowed $7,000 through a federal student loan program and borrowed another $3,000 from Kansas State Credit Union for educational purposes. After graduation, she accepted a position with the Dallas office of BDO Seidman and moved there in May 2014. She lives at 4560 Ranchero Lane, Dallas, TX 75201. Her social security number is 412-34-5670 (date of birth 7/10/1992).
Her W-2 contained the following information:
- Wages (box 1) = $67,533.05
- Federal W/H (box 2) = $ 8,994.95
- Social security wages (box 3) = $67,533.05
- Social security W/H (box 4) = $ 4,187.05
- Medicare wages (box 5) = $67,533.05
- Medicare W/H (box 6) = $ 979.23
In 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.
She also received two Forms 1098-E. One was from the federal student loan program, which showed $450 of student loan interest; the other was from Kansas State Credit Union and showed $150.75 of student loan interest.
Prepare a Form 1040, a Form 3903, and a Form 8917. If manually preparing the return, the Student Loan Interest Deduction worksheet can be found in IRS Publication 970, Tax Benefits for Education.
Prepare Brenda's form 1040
Explanation & Answer
Attached.
Form
1040
2015
(99)
Department of the Treasury—Internal Revenue Service
U.S. Individual Income Tax Return
For the year Jan. 1–Dec. 31, 2015, or other tax year beginning
Your first name and initial
Brenda
OMB No. 1545-0074
, 2015, ending
IRS Use Only—Do not write or staple in this space.
See separate instructions.
, 20
Your social security number
Last name
Carlyle
4 1 2 3 4 5 6 7 0
Spouse’s social security number
Last name
If a joint return, spouse’s first name and initial
Apt. no.
Home address (number and street). If you have a P.O. box, see instructions.
▲
4560 Ranchero Lane
City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions).
Presidential Election Campaign
Dallas, TX 75201
Foreign country name
Filing Status
Check only one
box.
Exemptions
Check here if you, or your spouse if filing
jointly, want $3 to go to this fund. Checking
Foreign postal code
a box below will not change your tax or
refund.
You
Spouse
Foreign province/state/county
1
✔
2
3
4
Single
Married filing jointly (even if only one had income)
6a
b
c
child’s name here. ▶
5
Qualifying widow(er) with dependent child
Yourself. If someone can claim you as a dependent, do not check box 6a .
Spouse
.
Dependents:
(1) First name
Head of household (with qualifying person). (See instructions.) If
the qualifying person is a child but not your dependent, enter this
Married filing separately. Enter spouse’s SSN above
and full name here. ▶
✔
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(2) Dependent’s
social security number
Last name
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(4) ✓ if child under age 17
qualifying for child tax credit
(see instructions)
(3) Dependent’s
relationship to you
If you did not
get a W-2,
see instructions.
Adjusted
Gross
Income
1
Dependents on 6c
not entered above
d
Attach Form(s)
W-2 here. Also
attach Forms
W-2G and
1099-R if tax
was withheld.
Boxes checked
on 6a and 6b
No. of children
on 6c who:
• lived with you
• did not live with
you due to divorce
or separation
(see instructions)
If more than four
dependents, see
instructions and
check here ▶
Income
Make sure the SSN(s) above
and on line 6c are correct.
Total number of exemptions claimed
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7
202599
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8b
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8a
14161
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9a
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11
Qualified dividends . . . . . . . . . . .
9b
Taxable refunds, credits, or offsets of state and local income taxes
Alimony received . . . . . . . . . . . . . . .
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10
11
12
13
14
Business income or (loss). Attach Schedule C or C-EZ . . . . . . . . .
Capital gain or (loss). Attach Schedule D if required. If not required, check here ▶
Other gains or (losses). Attach Form 4797 . . . . . . . . . . . . .
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12
13
14
15a
16a
17
IRA distributions .
15a
b Taxable amount
. . .
Pensions and annuities 16a
b Taxable amount
. . .
Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E
15b
16b
17
18
19
20a
Farm income or (loss). Attach Schedule F .
Unemployment compensation . . . .
Social security benefits 20a
18
19
20b
21
22
Other income. List type and amount
Combine the amounts in the far right column for lines 7 through 21. This is your total income
21
22
216760
38
23
Educator expenses
24
Certain business expenses of reservists, performing artists, and
fee-basis government officials. Attach Form 2106 or 2106-EZ
25
Health savings account deduction. Attach Form 8889
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24
25
26
27
28
Moving expenses. Attach Form 3903 . . . . . .
Deductible part of self-employment tax. Attach Schedule SE .
Self-employed SEP, SIMPLE, and qualified plans
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26
27
28
29
30
31a
Self-employed health insurance deduction
Penalty on early withdrawal of savings . .
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33
34
Alimony paid b Recipient’s SSN ▶
IRA deduction . . . . . . .
Student loan interest deduction . .
Tuition and fees. Attach Form 8917 .
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30
31a
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34
35
36
37
Domestic production activities deduction. Attach Form 8903
35
Add lines 23 through 35 . . . . . . . . . . . . .
Subtract line 36 from line 22. This is your adjusted gross income
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37
71313
129446
80
58
1040
(2015)
Wages, salaries, tips, etc. Attach Form(s) W-2
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8a
b
9a
Taxable interest. Attach Schedule B if required .
Tax-exempt interest. Do not include on line 8a .
Ordinary dividends. Attach Schedule B if required
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b Taxable amount
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1
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7
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Add numbers on
lines above ▶
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23
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For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions.
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67533
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1180
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600
2000
75
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Cat. No. 11320B
Form
Page 2
Form 1040 (2015)
38
Amount from line 37 (adjusted gross income)
Tax and
Credits
39a
Check
if:
Standard
Deduction
for—
• People who
check any
box on line
39a or 39b or
who can be
claimed as a
dependent,
see
instructions.
• All others:
Single or
Married filing
separately,
$6,300
Married filing
jointly or
Qualifying
widow(er),
$12,600
Head of
household,
$9,250
.
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Other
Taxes
58
59
60a
Unreported social security and Medicare tax from Form:
a
b
61
First-time homebuyer credit repayment. Attach Form 5405 if required
62
63
Form 8960 c
Taxes from: a
Form 8959 b
Add lines 56 through 62. This is your total tax . .
Payments
If you have a
qualifying
child, attach
Schedule EIC.
Sign
Here
Paid
Preparer
Use Only
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You were born before January 2, 1951,
Spouse was born before January 2, 1951,
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Blind.
Blind.
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39b
42
43
Exemptions. If line 38 is $154,950 or less, multiply $4,000 by the number on line 6d. Otherwise, see instructions
Taxable income. Subtract line 42 from line 41. If line 42 is more than line 41, enter -0- . .
Form 4972 c
Tax (see instructions). Check if any from: a
Form(s) 8814 b
44
45
46
47
48
49
50
51
52
53
54
55
56
57
64
65
66a
b
67
68
69
70
71
72
75
76a
Alternative minimum tax (see instructions). Attach Form 6251 .
Excess advance premium tax credit repayment. Attach Form 8962
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48
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52
Residential energy credits. Attach Form 5695 . . . .
53
3800 b
8801 c
Other credits from Form: a
54
Add lines 48 through 54. These are your total credits . . . . .
Subtract line 55 from line 47. If line 55 is more than line 47, enter -0-
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Self-employment tax. Attach Schedule SE
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Add lines 44, 45, and 46
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Foreign tax credit. Attach Form 1116 if required .
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Additional tax on IRAs, other qualified retirement plans, etc. Attach Form 5329 if required
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8919
Household employment taxes from Schedule H
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129446
58
40
41
42
0
00
129446
4000
58
00
43
125446
58
14161
2...
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