Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant with Mesa Manufacturing Company, 1203

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Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She
is a tax accountant with Mesa Manufacturing Company, 1203 Western
Avenue, Mesa, AZ 85201 (employer identification number 11-1111111).
She also writes computer software programs for tax practitioners
and has a part-time tax practice. Beth is single and has no
dependents. Beth was born on July 4, 1974, and her Social Security
number is 123-45-6785. She wants to contribute $3 to the
Presidential Election Campaign Fund. Beth received the appropriate
coronavirus recovery rebates (economic impact payments); related
questions in ProConnect Tax should be ignored.
The following information is shown on Beth's Wage and Tax
Statement (Form W–2) for 2020.
During the year, Beth received interest of $1,300 from Arizona
Federal Savings and Loan and $400 from Arizona State Bank. Each
financial institution reported the interest income on a Form
1099–INT. She received qualified dividends of $800 from Blue
Corporation, $750 from Green Corporation, and $650 from Orange
Corporation. Each corporation reported Beth's dividend payments on
a Form 1099–DIV.
Beth received a $1,100 income tax refund from the state of
Arizona on April 29, 2020. On her 2019 Federal income tax return,
she claimed the standard deduction.
Fees earned from her part-time tax practice in 2020 totaled
$3,800. She paid $600 to have the tax returns processed by a
computerized tax return service.
On February 8, 2020, Beth bought 500 shares of Gray Corporation
common stock for $17.60 a share. On September 12, 2020, Beth sold
the stock for $14 a share.
Beth bought a used sport utility vehicle for $6,000 on June 5,
2020. She purchased the vehicle from her brother-in-law, who was
unemployed and was in need of cash. On November 2, 2020, she sold
the vehicle to a friend for $6,500.
On January 2, 2020, Beth acquired 100 shares of Blue Corporation
common stock for $30 a share. She sold the stock on December 19,
2020, for $55 a share.
During the year, Beth records revenues of $16,000 from the sale
of a software program she developed. Beth incurred the following
expenses in connection with her software development business.
Beth elected to expense the maximum portion of the cost of the
computer, printer, and furniture allowed under the provisions of §
179. These items were placed in service on January 15, 2020, and
used 100% in her business.
Although her employer suggested that Beth attend an in-person
conference on current developments in corporate taxation, Beth was
not reimbursed for the travel expenses of $1,420 she incurred in
attending the meeting. The $1,420 included $200 for the cost of
meals.
During the year, Beth paid $300 for prescription medicines and
$2,875 for doctor bills and hospital bills. Medical insurance
premiums were paid by her employer. Beth paid real property taxes
of $1,766 on her home. Interest on her home mortgage (Valley
National Bank) was $3,845, and credit card interest was $320. Beth
contributed $2,080 to various qualifying charities during the year.
Professional dues and subscriptions totaled $350.
Beth paid estimated taxes of $1,000.
Required:
Compute Beth Jordan’s 2020 Federal income tax payable (or refund
due), and complete her 2020 tax return using appropriate forms and
schedules and the Qualified Dividends and Capital Gain Tax
Worksheet.