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Question: wendy oquotneil ssn 412345670 who is single work full time...

Question details

Wendy O"neil (SSN 412-34-5670), who is single, work full time as the director at a local charity. She resides at 1501 Front St Highland, AZ 85711 for the year. she had the following on her w2

wages 46200

federal withholding 6930

social security wages 46200

social security withholding 2864

medicare withholding 670

state withholding 2310

other information

1099-int 300

1099 div ordinary 400

qualified 400


state income 2310

state income tax paid with the 2016 return 100

real estate tax 2600

mortgage interest 8060

Wendy inherited a beach house in north carolina (rental only) on 1/02/2017 from her father, The FMV at the father death was 850000. He had purchase the house 20years earlier for 100000.

summer rental income 450000

repairs 25000

real estate taxes 6500

utilities 2400

depreciation ????

on december 29,2017 wendy properly conducted a like kind exchange for rent real estate located at 128 lake blvd hot town, AZ/

she receive rental property with an FMV of 950000 and 20000 cash in exchange for the north carolina beach house. The arizona property did not produce any income until 2018. Prepare form 1040 schedule D, Schedule E form 4562, and 8824.

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