Use the following information to compute Ashley Panda's 2019 federal income tax payable amount or tax refund amount. Complete your calculations manually on the designated pdf excel worksheet, and follow the instructions on the comprehensive problem information sheet. You may find it useful to reference the following forms while completing this comprehensive problem: Form 1040, Schedule 1, Schedule A and Schedule C. Facts: Ashley Panda is single and has a 20 year old son named Bill. Bill lives with Ashley and she fully supports him. Bill spent 2019 traveling in Asia and was not a student. In 2019 Bill had gross income of $4,225. Ashley owns and operates Panda Enterprises, LLC, a data processing service company. Panda Enterprises' cash basis 2019 P&L Statement, generated in QuickBooks accounting software, shows the following: revenues of $354,000, office expense of $61,780, employee salary of $63,000, employee payroll taxes of $4,820, health insurance premiums of $26,800, total legitimate business meal expenses of $11,000, and rent expense of $34,850. There is no depreciation for either book or tax in 2019 because all depreciable equipment owned has been fully depreciated in previous years. The portion of the health insurance premiums paid to cover the employee was $9,300. The portion of the premium paid to cover Ashley was $11,700, and the remainder of the cost was for Bill's coverage. Ashley has an extensive stock portfolio and has prepared the following analysis. Stock # of Shares FF 10 UU 30 NN 15 Date Purchased Date Sold Per Share Cost Per Share Selling Price Total Dividends 8/16/18 8/10/19 | $85 $60 $30 19/5/09 8/10/191 52 179 70 2/17/ 193/10/1968 I 42 150 Note: Ashley received a Form 1099-B from her stockbroker that included the adjusted basis and sales proceeds for each of her stock transactions. The per-share cost includes commissions, and the per-share selling price is net of commissions. Also, the dividends are the actual cash dividends received in 2019 and are both ordinary dividends (rather than liquidating dividends) and qualified dividends. Ashley received $800 of interest income from state of Ohio bonds and $600 of interest income on her First Savings Bank account. She paid $25,000 of alimony to her former husband whom she divorced in 2016, and $40,000 of estimated federal income tax payments for 2019. Ashley itemizes her deductions and had the following items, which may be relevant to her return: Item Amount Notes Unreimbursed medical expenses $1,950 all for Ashley's visits to her doctors 5,240 State income taxes paid Real property taxes on personal residence 4,100 Interest paid on home mortgage Charitable contributions State sales taxes 3,758 2,650 $100K acquisition loan secured by residence checks paid to Ashley's church amount from IRS sales tax table

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