Question: wendy oquotneil ssn 412345670 who is single work full time...
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
federal withholding 6930
social security wages 46200
social security withholding 2864
medicare withholding 670
state withholding 2310
1099 div ordinary 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
real estate taxes 6500
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.