2024 Tax Document Summary
Filing status: Married Filing Jointly | Dependents: 1 (Sophia M. Wilson, born 2023-02-16) | State: Florida (no state income tax)
1. W-2 — Benjamin A. Wilson (Ray Data LLC)
- Issuer: Ray Data LLC, EIN 87-4413391 (via Gusto)
- Employee: Benjamin A. Wilson, 1212 S Suffolk Dr, Tampa FL 33629
- Box 1 — Wages, tips, other compensation: $55,000.00
- Box 2 — Federal income tax withheld: $4,615.92
- Box 3 — Social security wages: $55,000.00
- Box 4 — Social security tax withheld: $3,410.00
- Box 5 — Medicare wages and tips: $55,000.00
- Box 6 — Medicare tax withheld: $797.50
- Box 12, 13, 14: Empty / no retirement plan checked
- Notes: No 401(k) deferrals, no pre-tax benefits shown. S-Corp owner-employee salary.
2. W-2 — Michelle M. Wilson (Perez Eye Center)
- Issuer: Perez Eye Center P L, EIN 45-3035286, 4506 Wishart Place, Tampa FL 33603 (via ADP)
- Employee: Michelle M. Wilson, 1212 S Suffolk Drive, Tampa FL 33629
- Box 1 — Wages, tips, other compensation: $118,750.06
- Box 2 — Federal income tax withheld: $18,038.54
- Box 3 — Social security wages: $124,999.94
- Box 4 — Social security tax withheld: $7,750.00
- Box 5 — Medicare wages and tips: $124,999.94
- Box 6 — Medicare tax withheld: $1,812.50
- Box 12a — Code D (401k deferrals): $6,249.88
- Box 13 — Retirement plan: Checked (X)
- Gross Pay: $124,999.94
- Notes: 401(k) pre-tax deferral of $6,249.88 reduces Box 1 wages. Retirement plan box checked limits traditional IRA deductibility.
3. Form 1095-B — Health Coverage
- Issuer: Blue Cross Blue Shield of Florida, EIN 59-2015694, PO Box 45074, Jacksonville FL 32232
- Responsible Individual: Michelle Wilson
- Coverage type (Line 8): D — Individual market insurance
- Covered individuals (all 12 months):
- Michelle Wilson (XXX-XX-2360)
- Benjamin Wilson (XXX-XX-4122)
- Sophia M. Wilson (DOB: 2023-02-16)
- Tax impact: Proof of minimum essential coverage; no premium tax credit applies (individual market, not Marketplace/Exchange). No dollar amounts — informational only.
4. Form 1098 — Mortgage Interest (Mr. Cooper / Nationstar)
- Issuer: Nationstar Mortgage LLC d/b/a Mr. Cooper, EIN 75-2921540, 8950 Cypress Waters Blvd., Coppell TX 75019
- Borrowers: Michelle M. Wilson & Benjamin A. Wilson
- Property: 1212 S Suffolk Drive, Tampa FL 33629 (1 property)
- Loan number: 0705087542
- Origination date: 06/12/2019
Form 1098 Boxes:
- Box 1 — Mortgage interest received: $16,990.68
- Box 2 — Outstanding mortgage principal (1/1/2024): $443,175.51
- Box 3 — Origination date: 06/12/2019
- Box 4 — Refund of overpaid interest: $0.00
- Box 5 — Mortgage insurance premiums: $0.00
- Box 6 — Points paid: $0.00
- Box 7 — Address same as borrower: Checked
Escrow Summary (from annual statement):
- Property taxes disbursed from escrow: $9,544.21
- Hazard insurance disbursed: $9,723.00
- Principal paid down (2024): $443,175.51 − $432,835.11 = $10,340.40
- Monthly payment: $4,108.86 | Escrow portion: $1,831.27
5. Form 1099-NEC — Mammoth Growth / Ray Data Co
- Payer: Mammoth Growth LLC, EIN 83-4208114, 145 Corte Madera Town Center #445, Corte Madera CA 94925
- Recipient: Ray Data LLC, EIN XX-XXX3391, 1212 South Suffolk Drive, Tampa FL 33629
- Account number: 666666667
- Calendar year: 2024
Boxes:
Box 1 — Nonemployee compensation: $189,870.00
Box 2 — Direct sales $5,000+: Not checked
Box 4 — Federal income tax withheld: $0.00
Box 5 — State tax withheld: $0.00
State: CA
Notes: This is revenue paid to Ray Data LLC (S-Corp), not personal income. The pass-through income flows to Ben's Schedule K-1 (see item 10). Two copies present (Copy B and Copy 2).
6. Form 1099 Composite — Charles Schwab
- Issuer: Charles Schwab & Co., Inc., EIN 94-1737782, 3000 Schwab Way, Westlake TX 76262
- Account: Schwab One — Benjamin Wilson & Michelle Margaux Wilson JT TEN
- Account number: 5373-5670
- Date prepared: February 7, 2025
Form 1099-DIV
- Box 1a — Total ordinary dividends: $11.52
- Box 1b — Qualified dividends: $11.52
- Box 2a — Total capital gain distributions: $0.00
- Box 4 — Federal income tax withheld: $0.00
- All other boxes: $0.00
Form 1099-INT
- Box 1 — Interest income: $0.12
- Box 4 — Federal income tax withheld: $0.00
- All other boxes: $0.00
Form 1099-B (Summary of Proceeds, Gains & Losses)
All amounts $0.00 — no sales transactions in this account.
7. Form 1099 — Wells Fargo Investment (Wealthfront Brokerage, Account 8W108343)
- Issuer: Wealthfront Brokerage LLC, EIN 27-1967207, 261 Hamilton Ave, Palo Alto CA 94301
- Account: 8W108343 — Benjamin A Wilson, 1212 S Suffolk Drive, Tampa FL 33629
- Statement date: 02/12/2025
Form 1099-DIV
- Box 1a — Total ordinary dividends: $2,638.40
- Box 1b — Qualified dividends: $1,877.13
- Box 2a — Total capital gain distributions: $0.00
- Box 3 — Nondividend distributions: $0.46
- Box 5 — Section 199A dividends: $45.55
- Box 7 — Foreign tax paid: $125.09
- Box 12 — Exempt-interest dividends: $418.78
- Box 4 — Federal income tax withheld: $0.00
Form 1099-INT
- Box 1 — Interest income: $0.00
- Box 4 — Federal income tax withheld: $0.00
Form 1099-B (Summary of Proceeds, Gains & Losses)
| Term | Proceeds | Cost Basis | Wash Sale Disallowed | Net Gain/(Loss) |
|---|---|---|---|---|
| Short-term (covered, Box A) | $17,479.97 | $17,732.86 | $2.18 | ($250.71) |
| Long-term (covered, Box D) | $1,848.80 | $1,847.90 | $0.00 | $0.90 |
| Grand Total | $19,328.77 | $19,580.76 | $2.18 | ($249.81) |
- Federal income tax withheld: $0.00
- Miscellaneous fees: $258.00 (not reported to IRS)
Notable holdings sold (short-term losses):
- iShares TR IBoxx Inv CP ETF: ($24.24)
- iShares Inc Core MSCI EMKT: ($3.40)
- Schwab Strategic TR Intl Eqty ETF: ($43.49)
- Tesla: ($20.18)
- Uber: ($5.42)
- Vanguard Specialized Funds Div App ETF: ($7.51)
- Vanguard Tax-Managed FDS Van FTSE Dev Mkt: ($56.00)
- Vanguard Intl Equity Index FTSE EMR Mkt: ($46.17)
- Vanguard Mun BD FDS Tax Exempt BD (short): ($23.03)
- Advanced Micro Devices: ($4.28)
- Blackstone Inc: ($14.27)
- Vanguard Index FDS Extend Mkt ETF: ($2.72)
8. Form 1099 — Wells Fargo Savings (Wealthfront Brokerage, Account 8W539966)
- Issuer: Wealthfront Brokerage LLC, EIN 27-1967207, 261 Hamilton Ave, Palo Alto CA 94301
- Account: 8W539966 — Benjamin A Wilson & Michelle Wilson, 1212 S Suffolk Drive, Tampa FL 33629
- Statement date: 01/21/2025
Form 1099-INT
- Box 1 — Interest income: $601.58
- Box 4 — Federal income tax withheld: $0.00
- All other boxes: $0.00
Monthly detail: Jan $77.60 | Feb $65.16 | Mar $38.49 | Apr $41.64 | May $58.39 | Jun $55.68 Jul $50.35 | Aug $48.30 | Sep $44.53 | Oct $39.00 | Nov $36.19 | Dec $46.25
Form 1099-DIV / 1099-B
- All zeros — no dividends, no sales transactions in this account.
9. Charitable Contributions — Christ the King Catholic Church
- Organization: Christ the King Catholic Church, 821 S Dale Mabry Hwy, Tampa FL 33609
- Donors: Mr. and Mrs. Benjamin Wilson (account #3766)
- Reporting period: 01/01/2024 – 12/31/2024
- No goods or services were provided.
Contribution totals:
- Online Giving: $1,275.00
- Offertory: $310.00
- Celebrate Youth campaign: $1,200.00
- Total contributions: $2,785.00
10. Schedule K-1 (Form 1120-S) — Ray Data LLC
- Prepared by: Collective HUB, 548 Market St PMB 21938, San Francisco CA 94104
- Corporation: Ray Data LLC, EIN 87-4413391, 1212 S Suffolk Dr, Tampa FL 33629
- Shareholder: Benjamin Andrew Wilson, 1212 S Suffolk Dr, Tampa FL 33629
- Tax year: 01/01/2024 – 12/31/2024
- Shareholder ownership: 100% (10,000 shares)
Part III — Income, Deductions, Credits:
- Box 1 — Ordinary business income (loss): $81,049
- Box 2–10: $0 (no rental income, interest, dividends, capital gains, royalties)
Items affecting shareholder basis:
- Box 16C — Nondeductible expenses (50% disallowed meals): $2,448
- Box 16D — Cash distributions to shareholder: $89,778
Other information:
- Box 17AC — Gross receipts (prior year average, §448(c)): $192,631
- Adjusted taxable income: $81,049
- No §163(j) limitation applies
Notes: The $81,049 ordinary income flows to Schedule E, Page 2. The $89,778 in cash distributions is non-taxable return of basis (not additional income). Ben's W-2 salary of $55,000 from Ray Data LLC is separate.
11. Estimated Tax Payment — Q1 2024
- Payer: Benjamin Wilson (IRS Direct Pay)
- Confirmation: 222-4502-3382-3614
- Payment date: April 10, 2024
- Amount: $4,230.00
- Type: 1040-ES, Tax Year 2024
12. Estimated Tax Payment — Q2 2024
- Payer: Benjamin Wilson (IRS Direct Pay)
- Confirmation: 222-4562-8077-3456
- Payment date: June 10, 2024
- Amount: $4,230.00
- Type: 1040-ES, Tax Year 2024
13. Estimated Tax Payment — Q4 2024
- Payer: Benjamin Wilson (IRS Direct Pay)
- Confirmation: 222-5406-1228-8682
- Payment date: January 3, 2025
- Amount: $4,230.00
- Type: 1040-ES, Tax Year 2024
- Note: Q3 estimated tax payment document not present in this folder — confirm whether a Q3 payment was made.
14. Escrow Details — 2024 (escrow-details-2024.jpg)
- Source: Mr. Cooper escrow account overview
- Property: 1212 S Suffolk Drive, Tampa FL 33629
| Item | Annual Amount | Provider |
|---|---|---|
| County Tax (Hillsborough, Parcel A1206680000) | $9,544.21 | — |
| Hazard Insurance | $7,744.00 | Slide Insurance Company (SIC3055601) |
| Flood Insurance | $1,979.00 | Wright National Flood (09115230923401) |
- Notes: The Mr. Cooper 1098 escrow statement shows $9,544.21 property taxes paid and $9,723.00 hazard insurance disbursed. The escrow screenshot shows a slightly different hazard insurance annual amount ($7,744 vs. $9,723 disbursed) — the $9,723 on the 1098 is the amount actually disbursed in 2024 and is the controlling figure for tax purposes. Flood insurance ($1,979) is not deductible on Schedule A. Property tax deductible amount is $9,544.21.
Tax Return Inputs — 2024 Federal (MFJ, 1 dependent)
Income
| Category | Amount | Source |
|---|---|---|
| Ben W-2 wages (Box 1) | $55,000.00 | Ray Data LLC W-2 |
| Michelle W-2 wages (Box 1) | $118,750.06 | Perez Eye Center W-2 |
| Total W-2 wages | $173,750.06 | |
| S-Corp K-1 ordinary income | $81,049.00 | Ray Data LLC Schedule K-1 |
| 1099-NEC (Ray Data LLC entity level) | $189,870.00 | Mammoth Growth — flows through S-Corp, already reflected in K-1 |
Federal Tax Withheld (W-2)
| Source | Amount |
|---|---|
| Ben W-2 federal withheld | $4,615.92 |
| Michelle W-2 federal withheld | $18,038.54 |
| Total W-2 federal withheld | $22,654.46 |
Investment Income
| Category | Amount | Source |
|---|---|---|
| Interest — Schwab (1099-INT) | $0.12 | Schwab acct 5373-5670 |
| Interest — Wealthfront savings (1099-INT) | $601.58 | Wealthfront acct 8W539966 |
| Total interest income | $601.70 | |
| Ordinary dividends — Schwab (1099-DIV Box 1a) | $11.52 | Schwab acct 5373-5670 |
| Qualified dividends — Schwab (1099-DIV Box 1b) | $11.52 | Schwab acct 5373-5670 |
| Ordinary dividends — Wealthfront invest. (1099-DIV Box 1a) | $2,638.40 | Wealthfront acct 8W108343 |
| Qualified dividends — Wealthfront invest. (1099-DIV Box 1b) | $1,877.13 | Wealthfront acct 8W108343 |
| Total ordinary dividends | $2,649.92 | |
| Total qualified dividends | $1,888.65 | |
| Foreign tax paid (potential credit) | $125.09 | Wealthfront acct 8W108343 |
| Exempt-interest dividends (tax-free) | $418.78 | Wealthfront acct 8W108343 |
| Section 199A dividends | $45.55 | Wealthfront acct 8W108343 |
Capital Gains / Losses
| Category | Net Gain/(Loss) | Source |
|---|---|---|
| Short-term net (Wealthfront 8W108343) | ($250.71) | Covered lots |
| Long-term net (Wealthfront 8W108343) | $0.90 | Covered lots |
| Schwab acct 5373-5670 | $0.00 | No sales |
| Wealthfront acct 8W539966 | $0.00 | No sales |
| Total net capital gain/(loss) | ($249.81) |
Estimated Tax Payments
| Quarter | Date Paid | Amount |
|---|---|---|
| Q1 2024 | April 10, 2024 | $4,230.00 |
| Q2 2024 | June 10, 2024 | $4,230.00 |
| Q3 2024 | Not documented — verify | — |
| Q4 2024 | January 3, 2025 | $4,230.00 |
| Total documented | $12,690.00 |
Itemized Deductions (Schedule A)
| Category | Amount | Source |
|---|---|---|
| Mortgage interest (Box 1, Form 1098) | $16,990.68 | Mr. Cooper |
| Property taxes paid (from escrow) | $9,544.21 | Hillsborough County via escrow |
| Charitable contributions — Christ the King | $2,785.00 | Church statement |
| Total itemized deductions | $29,319.89 |
Standard deduction (MFJ 2024): $29,200
Itemizing vs. standard deduction: The itemized total of $29,319.89 exceeds the $29,200 MFJ standard deduction by approximately $120. This is extremely close — the marginal benefit of itemizing is negligible (~$120 additional deduction). However, this does NOT account for any other potential Schedule A deductions (state/local taxes are capped at $10,000 SALT; Florida has no state income tax, so SALT is limited to the $9,544.21 property tax — already included above). Given the SALT cap includes property taxes and the total is barely above the standard deduction, the practical recommendation is to verify whether any other itemizable expenses exist (unreimbursed medical expenses >7.5% AGI, additional charitable giving to other organizations, etc.). If not, the difference is immaterial and either approach yields nearly identical results. Most tax software will automatically select the higher deduction.
Summary Income Picture
| Line Item | Amount |
|---|---|
| W-2 wages (combined) | $173,750.06 |
| S-Corp K-1 ordinary income | $81,049.00 |
| Interest income | $601.70 |
| Ordinary dividends (net of exempt) | $2,231.14 |
| Net capital loss | ($249.81) |
| Approximate gross income | ~$257,382 |
| Less: estimated tax payments | ($12,690.00) |
| Less: W-2 withholding | ($22,654.46) |
Note on Q3 payment: Only Q1, Q2, and Q4 estimated tax payment documents are present. Confirm whether a Q3 payment (~September 2024 deadline) was made. Total documented estimated payments are $12,690. If Q3 was also $4,230, total would be $16,920.
Note on self-employment / QBI: The K-1 ordinary income of $81,049 may qualify for the 20% Section 199A Qualified Business Income deduction, subject to W-2 wage limits and taxable income thresholds. At approximately $257K gross income MFJ, they are within the phase-in range for the QBI deduction limitation — this requires careful calculation by the tax preparer.
Note on Additional Medicare Tax: Combined wages + K-1 income exceeds the $250,000 MFJ threshold for the 0.9% Additional Medicare Tax. Tax preparer should confirm this is calculated on Form 8959.