Kae Sato is single and lives at 5411 Melbourne Avenue, Chicago, IL 60455. She is a supervisor,
and her SSN is 412-34-5670. Using the following information, complete her tax return for 2023:
Kimber Company W-2:Gross $ 90,000, Social security tax 5,580, Medicare tax 1,305, Federal
withholding tax 15,700, State withholding tax 2,700. Lee Company W-2:Gross $ 22,500, Social
security tax 1,395, Medicare tax 326, Federal withholding tax 2,300, State withholding tax 600.
Kai has the following itemized deductions: Real estate tax $ 7,438. Mortgage interest 8,195.
Charitable contributions 3,250. Kai has the following investments:1099-INT $ 2,510, 1099-DIV
Ordinary dividends 2,564, Qualified dividends 1,974, Capital gain distribution 4,711, 2019 short-
term loss carryover (1,000) Kai also has received a gift 2,000 shares of FNP Incorporated stock
from her Aunt Jane on January 19, 2022. The basis of the shares to Aunt Jane was $4,300, and
they had an FMV of $4,600 on the date of the gift. Aunt Jane purchased the stock on December
30, 2020. On June 30, 2022, Kai sold all the shares for $6,000. Kai is an avid stamp collector and
purchased a rare stamp on March 20, 2012, for $4,000. Kai sold the stamp for $6,000 on April 8,
2022. Prepare Form 1040 and all related schedules, form and worksheets for 2022. Kai does not
donate to the presidential election campaign. Kai is a manager at Kimber Company and had
qualifying health care coverage at all times during the tax year..
Kae Sato is single and lives at 5411 Melbourne Avenue, Chicago, IL 6.pdf
1. Kae Sato is single and lives at 5411 Melbourne Avenue, Chicago, IL 60455. She is a supervisor,
and her SSN is 412-34-5670. Using the following information, complete her tax return for 2023:
Kimber Company W-2:Gross $ 90,000, Social security tax 5,580, Medicare tax 1,305, Federal
withholding tax 15,700, State withholding tax 2,700. Lee Company W-2:Gross $ 22,500, Social
security tax 1,395, Medicare tax 326, Federal withholding tax 2,300, State withholding tax 600.
Kai has the following itemized deductions: Real estate tax $ 7,438. Mortgage interest 8,195.
Charitable contributions 3,250. Kai has the following investments:1099-INT $ 2,510, 1099-DIV
Ordinary dividends 2,564, Qualified dividends 1,974, Capital gain distribution 4,711, 2019 short-
term loss carryover (1,000) Kai also has received a gift 2,000 shares of FNP Incorporated stock
from her Aunt Jane on January 19, 2022. The basis of the shares to Aunt Jane was $4,300, and
they had an FMV of $4,600 on the date of the gift. Aunt Jane purchased the stock on December
30, 2020. On June 30, 2022, Kai sold all the shares for $6,000. Kai is an avid stamp collector and
purchased a rare stamp on March 20, 2012, for $4,000. Kai sold the stamp for $6,000 on April 8,
2022. Prepare Form 1040 and all related schedules, form and worksheets for 2022. Kai does not
donate to the presidential election campaign. Kai is a manager at Kimber Company and had
qualifying health care coverage at all times during the tax year.
