The following information relates to Serena Williams (age 40; single). Serena works as a marketing...
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The following information relates to Serena Williams (age 40; single). Serena works as a marketing manager for GoTennis, but she also has rental property and owns a small business as a sole proprietorship.
Serena earned a salary of $100,000.
Employee taxable discount on GoTennis Shoes $5,000.
Serena had $1,000 of (taxable) interest income from investments in corporate bonds.
Qualified dividends $850.
Serena had a taxable state income tax refund, of $450.
Net business income from sole proprietorship $5,000.
Net rental income $3,000.
Serena made a $3,300 deductible contribution to a traditional individual retirement account (IRA).
Serena had no itemized deduction.
Serena had $12,901 of federal income taxes withheld from her paychecks by her employers.
Based on the information above, fill in (1) Form 1040 and (2) Schedule 1 for Serena Williams
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