Question Details

Answered: - I have to fill out a 1040 tax form for my accounting course,

I have to fill out a 1040 tax form for my accounting course,?



Please complete the 2015 federal income tax return for Magdalena Schmitz. Ignore the requirement to


attach the form(s) W-2 to the front page of the Form 1040. If required information is missing, use


reasonable assumptions to fill in the gaps.


Magdalena Schmitz has undergone some major changes in her life recently. In 2013, at the age of 46, her


husband, Roger, passed away. Magdalena has not remarried as of the end of 2015. Magdalena currently


lives in Bedford, Pennsylvania. She was living in Pittsburgh when her husband passed away but she


moved back to her childhood home so she could get help from her family raising her children.


Magdalena was employed in Pittsburgh early in the year but left that job and relocated 100 miles away


to pursue a new life and start her new job. Magdalena has three children (ages as of the end of the


year): Alyssa (23), Tyler (16), and Connor (11). Magdalena would like to determine her federal income


tax under the filing status that is most advantageous for her.


Magdalena reported the following information:








Magdalena?s social security number is 294-83-2845


Alyssa?s social security number is 824-84-8456


Tyler?s social security number is 824-34-9584


Connor?s social security number is 824-56-2984


Magdalena?s mailing address is 623 S. Liberty Road Bedford, Pennsylvania 15522



Alyssa is unmarried and a full-time graduate student at Pennsylvania State University (PSU) (EIN 339876543). PSU?s address is 1250 Happy Valley, State College, PA 16801. She received her bachelor?s


degree the year her father passed away. This year represents her fifth year of full-time higher education


schooling. Alyssa works part-time in State College to help with some of her living expenses. Alyssa


earned $2,300 in gross income during the year and had her income tax return prepared on campus by


Volunteer Income Tax Assistance (VITA) volunteers. Magdalena provided support for Alyssa including


paying for rent, books, tuition, food, clothes, medicine, and other support items. In total, Magdalena


provided $12,700 of support for the year. PSU provided Alyssa with a Form 1098-T at year end.


Alyssa?s higher education expenses for her university studies were as follows:











In order to permit Magdalena to maintain a full-time job, she sends Connor to a day care program after


school five days a week. During the year, Magdalena paid the day care operator $4,250 for Connor?s




The day care details are as follows:


Horizon Day Care


452 S. Patriot Road


Bedford, PA 15522




Magdalena incurred the following moving-related expenses during the year:


Household items


Meals in transit


House hunting trip










In addition she drove her car the 100 miles to Bedford as part of the move. Her previous workplace was


located 10 miles from the previous home she was renting and her new job is exactly 100 miles away


from her prior residence.


Magdalena?s W-2s for the year reported the following:




Juniata Development




Pittsburgh Real Estate



Gross Wages





Federal Income Tax







State Income Tax
















Magdalena?s employers withheld all applicable and appropriate payroll taxes. The entire Schmitz family


was covered by minimum essential health insurance during each month in 2015. The insurance was


provided by Magdalena?s employers.


On January 1, 2014 (prior year), Magdalena started a photography business in which she takes bridal and


wedding photographs. She does not do any of the professional printing. However, she provides all of


the original negatives to her clients on a password-protected web site as part of her service. This unique


service along with her skill and reputation has allowed her to earn additional money on the weekends,


primarily in the summer, to help support her daughter in college. Magdalena rents all of the camera


equipment from a friend and does not currently own any equipment herself. The photography business


uses the cash method of accounting. The business did not have any obligation to file a Form 1099 to any


payee during the year. Magdalena reported the following revenue and expenses for her business for the




Gross Revenue


Photographic supplies


Camera rental


Web site hosting fee





$ 430




$ 200



Magdalena also received the following during the year:



Cash gift from her father


Interest income-First Bank of Bedford


Interest income-General Electric Bond


Interest income-Bedford School District Municipal Bond


Interest income-Johnstown Rural Improvement District Bond

























Magdalena did not own, control or manage any foreign bank accounts nor was she a grantor or


beneficiary of a foreign trust during the tax year.


Magdalena paid or incurred the following expenses during the year:


Dentist (unreimbursed by insurance)


Doctors (unreimbursed by insurance)


Prescriptions (unreimbursed by insurance)


Real property taxes on residence


Vehicle registration fee based upon age of vehicle


Mortgage interest on principal residence (Form 1098 received)


Contribution to the American Lung Association


Contribution to the Habitat for Humanity


Contribution to Methodist Church of PA


Contribution to Penn State University





$ 475


$ 255


$ 950


$ 175




$ 600






$ 400



Magdalena wants to contribute to the Presidential Election Campaign. She would like to receive a refund


(if any) of any tax she may have overpaid for the year. Her preferred method of receiving the refund is by






Solution details:

This question was answered on: Oct 07, 2020

PRICE: $15 (25.37 KB)

Buy this answer for only: $15

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free copy (Deadline assured. Flexible pricing. TurnItIn Report provided)

Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .

About this Question






Oct 07, 2020





We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

  • As a reference for in-depth understanding of the subject.
  • As a source of ideas / reasoning for your own research (if properly referenced)
  • For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.


Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.


Order Now