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Logan B$.$ Taylor is a widower whose spouse, Sara, died on June $6,.$ He lives at $4680$ Dogwood Lane, Springfield, MO $65801.$ He is employed

as a paralegal by a local law firm. During, he had the following receipts:

Logan inherited securities worth $$60,000$ from his uncle, Daniel, who died in $.$ Logan also was the designated beneficiary of an insurance

policy on Daniel's life with a maturity value of $$200,000.$ Logan purchased $500$ shares of Insight, Inc. stock on May $2,$ for $$85,000$; he

held the stock as an investment. He sold the stock on January $5,$ for $$80,000.$ The estate sale consisted largely of items belonging to Sara

and Daniel $($e$.$g$.,$ camper, boat, furniture, and fishing and hunting equipment$).$ Logan estimates that the property sold originally cost at

least twice the $$9,000$ he received and has declined or stayed the same in value since Sara and Daniel died.

Logan's expenditures for include the following:

While Logan and his dependents are covered by his employer's health insurance policy, he is subject to a deductible, and dental care is not

included. The $$10,500$ dental charge was for Helen's implants. Helen is Logan's widowed mother, who lives with him $($see below$).$ Logan

normally pledges $$3,600($$$300$ per month$)$ each year to his church. On December $5,,$ upon the advice of his pastor, he prepaid his pledge

for $.$

Logan's household, all of whom he supports, includes the following:

Helen receives a modest Social Security benefit. Asher, a son, is a full$-$time student in dental school and earns $$5,300$ as a part$-$time dental

assistant. Mia, a daughter, does not work and is engaged to be married.

Federal income tax of $$3,900$ was withheld from his wages.

Required:

Compute Logan's income tax for. If Logan has any overpayment on his income tax, he wants the refund sent to him. Assume that the

proper amounts of Social Security and Medicare taxes were withheld. Logan does not own and did not use any digital assets during the

year, and he does not want to contribute to the Presidential Election Campaign Fund.

Make realistic assumptions about any missing data.

Enter all amounts as positive numbers except any losses. Use the minus sign to indicate a loss.

If an amount box does not require an entry or the answer is zero, enter $"0".$

It may be necessary to complete the other tax schedules before completing Form $1040.$

Use the included tax rate schedules to compute the tax. When computing the tax liability, do not round your immediate

calculations. If required, round your final answers to the nearest dollar. Logan B$.$ Iaylor is a widower whose spouse, Sara, died on June $0,2021.$

He lives at $4680$ Dogwood Lane, Springfield, MO $65801.$ He is employed

as a paralegal by a local law firm. During $2023,$ he had the following

receipts:

Communications

Decision Making

Planning

Tax Forms

Problem

ProConnect" Tax

Salary

Interest income$-$

Money market account at Omni Bank

Savings account at Boone State Bank

City of Springfield general purpose bonds

Inheritance from Daniel

Life insurance proceeds

Proceeds from sale of Insight, Inc. stock

Proceeds from estate sale

Federal income tax refund $($for $2021$ tax overpayment$)$ Logan inherited securities worth $$60,000$ from his uncle, Daniel, who died in $2022.$ Logan also was the

designated beneficiary of an insurance policy on Daniel's life with a maturity value of $$200,000.$ Logan

purchased $500$ shares of Insight, Inc. stock on May $2,2018$ for $$85,000$; he held the stock as an

investment. He sold the stock on January $5,2023$ for $$80,000.$ The estate sale consisted largely of items

belonging to Sara and Daniel $($e$.$g$.,$ camper, boat, furniture, and fishing and hunting equipment$).$ Logan

estimates that the property sold originally cost at least twice the $$9,000$ he received and has declined or

stayed the same in value since Sara and Daniel died.

Logan's expenditures for $2023$ include the following:

While Logan and his dependents are covered by his employer's health insurance policy, he is subject to a

deductible, and dental care is not included. The $$10,500$ dental charge was for Helen's implants. Helen is

Logan's widowed mother, who lives with him $($see below$).$ Logan normally pledges $$3,600($$$300$ per

month$)$ each year to his church. On December $5,2023,$ on the advice of his pastor, he prepaid his pledge

for $2024.$

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