Kia Lopez is single (SSN 412-34-5670) and resides at 101 Poker Street, Apartment 12A, Hickory, FL 34714. Her W-2 shows the following:WagesFederal withholdingSocial security wagesSocial security withholdingMedicare withholdingState withholding$ 56,5005,10056,5003,503819-0-In 2022, Kia contributed cash of $7,000 to Apartment Rentals Limited Partnership (ARLP) in return for a 13% limited partnership interest.She is an active participant. Kia's shares of ARLP income and losses for the year per her K-1 were as follows:InterestDividends (qualified)Capital gains (long-term)Rental loss$ 35290700(8,300)ARLP had no liabilities. Kia does not itemize and has no other investments or passive activities.Prepare Form 1040 for Kia Lopez for 2022. You will need Form 1040, Schedules 1, D, E (page 2), Form 6198, and Form 8582. Use theappropriate Tax Tables and Tax Rate Schedules.Note: Input all the values as positive numbers. However, losses should be indicated by a minus sign. Instructions can be found oncertain cells within the forms. Round your intermediate computations and final answers to the nearest whole dollar amount. Donot skip rows while entering in Passive Income and Loss in Schedule E PG2.

Form IRS 1040 is used by US taxpayers to an file their income tax return.…

Prepare Form 1040 for Kia Lopez for 2022. You will need Form 1040, Schedules 1, D, E (page 2), Form 6198, and Form 8582. Use the appropriate Tax Tables and Tax Rate Schedules. Note: Input all the values as positive numbers. However, losses should be indicated by a minus sign. Instructions can be found on certain cells within the forms. Round your intermediate computations and final answers to the nearest whole dollar amount. Do not skip rows while entering in Passive Income and Loss in Schedule E PG2.

Prepare Form 1040 for Kia Lopez for 2022. You will need Form 1040, Schedules 1, D, E (page 2), Form 6198, and Form 8582. Use the appropriate Tax Tables and Tax Rate Schedules. Note: Input all the values as positive numbers. However, losses should be indicated by a minus sign. Instructions can be found on certain cells within the forms. Round your intermediate computations and final answers to the nearest whole dollar amount. Do not skip rows while entering in Passive Income and Loss in Schedule E PG2.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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