Problem4947cffd7ca35d87f819abf183656b85701e4e09.xlsPage 1 of 1Jane's Tax Return - Complete Columns E, F, and G of Part 1. Compute tax due or refund in Parts 2 and 3.Column B, study the applicable rules in the textbook on the pages identified. Jane is single.Complete Form 1040, page 1 and 2, and Form 1040-Schedule B. Use Form 1040 for 2011. WWW.IRS.govABCDEFGGrossDeduct.Deduct.Text Pg.Part 1. Income & expensesAmountIncomeFor AGIfrom AGI11-17, 3-4Gross Salary$50,000 21-12FICA Withheld (7.65%)($3,825)3Fed. Income Tax W/H($5,000)41-27N.C. Income Tax W/H($2,000)5Take-Home Pay$38,175 63-18Alimony from Jane's second husband$4,800 7Jane's interest income from:83-10Wachovia account$6,000 94-18City of Concord bonds$3,000 104-2Gift received from parents$2,000 11Payments made by Jane121-25Alimony paid to Jane's first husband$9,000 131-25Contribution to IRA$2,500 141-27Gift to United Way (Charity)$2,000 151-27Hospital Insurance premium$4,000 161-27Home mortgage interest$3,000 17Gross Income18Deductions for AGI19Deductions from AGI (Gross)Deduction before limits on ded.
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