Question - Bea Jones (age 32) moved from Texas to Florida in December 2013. She lives at 654 Ocean Way, Gulfport, FL 33707. Bea's Social Security number is 466-78-7359 and she is single. Her earnings and income tax withholding for 2014 for her job as a manager at a Florida shrimp-processing plant are:
Bea's other income includes interest on a savings account at Beach National Bank of $2,200 and $600 per month alimony from her ex-husband.
During 2014, Bea paid the following amounts (all of which can be substantiated):
In July 2014, someone broke into Bea's house and stole a diamond ring. The diamond ring had a fair market value of $10,000 and a tax basis to Bea of $7,600. The ring was uninsured.
Required: Complete Bea's federal tax return for 2014. Use Form 1040, Schedule A, Schedule B, and Form 4684, to complete this tax return. Make realistic assumptions about any missing data.
If an amount box does not require an entry or the answer is zero, enter "0". Enter all amounts as positive numbers.