COMPREHENSIVE TAX RETURN PROBLEM. Your cousin, Antonia, who is 30 years old, single and a restaurant manager, heard that you have enrolled in the Masters of Taxation program at State University. She has asked you for help in preparing her 2014 tax return and provides you with the following information: [3] Antonia borrowed $12,000 and used the proceeds to purchase a new car. [4] The original cost of the clothes were $480 and the current FMV is $200 [5] Of the $888 in expenses, $180 are for meals and entertainment. Compute Antonia's: adjusted gross income, taxable income, and tax liability.

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COMPREHENSIVE TAX RETURN PROBLEM. Your cousin, Antonia, who is 30 years old, single and a restaurant manager, heard that you have enrolled in the Masters of Taxation program at State University. She has asked you for help in preparing her 2014 tax return and provides you with the following information:  [3] Antonia borrowed $12,000 and used the proceeds to purchase a new car. [4] The original cost of the clothes were $480 and the current FMV is $200 [5] Of the $888 in expenses, $180 are for meals and entertainment. Compute Antonia's: adjusted gross income, taxable income, and tax liability.

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The Answer of COMPREHENSIVE TAX RETURN PROBLEM. Your cousin, Antonia, who is 30 years old, single and a restaurant manager, heard that you have enrolled in the Masters of Taxation program at State University. She has asked you for help in preparing her 2014 tax return and provides you with the following information:  [3] Antonia borrowed $12,000 and used the proceeds to purchase a new car. [4] The original cost of the clothes were $480 and the current FMV is $200 [5] Of the $888 in expenses, $180 are for meals and entertainment. Compute Antonia's: adjusted gross income, taxable income, and tax liability.