Terry has the following sources of income: Wages $55,000; interest from State of South Carolina $800; interest from Wells Fargo savings account $80; Dividends from BMW stock of $120: Increase in value of BMW stock during the year of $1,700; Gift from her Grandmother of $1,000; Income from a restaurant that she is a partner in of $2,000; Value of qualified fringe benefit from employer of $2,200 and unemployment compensation while in between jobs of $1,200. Compute Form 1040 for Terry. If a particular source was not used – list that source and explain why not used.
