Estimated taxes paid during the year
Julie Hernandez is single and has no dependents. She operates a dairy farm and her Social Security number is 000–00–1111. She lives at 1325 Vermont Street in Costa, Florida.
Consider the following information for 2013:
Schedule C was prepared by her accountant and the net profit from the dairy operations is $48,000.
Nonrecaptured net Section 1231 losses from the five most recent tax years preceding the current year amount to $7,000. Estimated taxes paid during the year amount to $32,000.
Prepare Forms 1040, 4684 Section A, 4797, and Schedule D for the current year. Do not consider self-employment taxes.