Steve Jackson age 51 is a single taxpayer living at #796

Steve Jackson (age 51) is a single taxpayer living at 3215 Pacific Dr., Del Mar, CA 92014. His
Social Security number is 465-88-9415. In 2012, Steve's earnings and income tax withholding
as the manager of a local hotel are: Earnings from the Ocean View
Hotel..........................................$425,000Federal income tax
withheld......................................................115,000State income tax
withheld...........................................................40,000Steve's other income includes interest from
SDG&E bonds of $2,500 and interest on a savings account at Wells Fargo Bank of $3,190.
Also, Steve received taxexempt interest of $29,200 on private activity bonds that is subject to
alternative minimum tax.During the year, Steve paid the following amounts (all of which can be
substantiated):Home mortgage interest...................................................$31,700Credit card
interest.............................................................1,760Auto
insurance......................................................................900State income taxes paid in 2012 (for
2010 audit) .........................12,540Property taxes on personal
residence...............................................6,200Kaiser HMO
premiums....................................................................4,800Other medical
expenses......................................................................790CPA fees paid to handle 2010 state
audit...........................................7,000 Charitable contributions:Girl
Scouts...............................................................................................800San Diego State
University (contribution) ........................................10,000Italian Red
Cross.....................................................................................250Required: Complete Steve's
federal tax return for 2012. Use Form 1040, Schedule A, Schedule B, Form 6251, and any other
appropriate schedule(s) you need on pages 6-53 through 6-58. Make realistic assumptions
about any missing data.View Solution:
Steve Jackson age 51 is a single taxpayer living at

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