1. The following information is available for the Albert and Allison Gaytor family in addition to that provided in Chapters 1–6.

The Gaytors paid tuition and fees for both Crocker and Cayman to attend college. Recall that Crocker is a freshman at Brickell State and Cayman is a part-time student in community college. Crocker received a $1,000 scholarship from Brickell State. Crocker’s Form 1098-T is shown below. The Gaytors paid tuition and fees of $1,400 for Cayman in 2018.

In December 2017, Albert’s 82 year-old aunt, Virginia Everglades (Social Security number 699-19-9000), was unable to support herself and moved in with the Gaytors. She lived with them for all of 2018. The Gaytors provided more than one-half of Aunt Virginia’s support. Virginia’s only source of income is a small annuity that paid her $3,100 in 2018. While Albert and Allison were working, the Gaytors hired a nanny service from time to time to take care of Aunt Virginia. The Gaytors paid $3,400 to Nannys R Us in 2018. Nannys R Us (EIN 34-1234123) is located at 80 SW 22nd Avenue, Miami, FL 33133.

Required:

Combine this new information about the Gaytor family with the information from Chapters 1–6 and complete a revised 2018 tax return for Albert and Allison. Be sure to save your data input files since this case will be expanded and completed with more tax information in Chapter 8.

Transcribed Image Text:

CORRECTED FILER'S name, street address, city or town, state or province, country, ZIP or 1 Payments received for foreign postal code, and telephone number OMB No. 1545-1574 quálified tuition and related еxpenses $ 4,700.00 Brickell State University 2018 Tuition 605 Crandon Blvd. Statement Key Biscayne, FL 33149 Form 1098-T STUDENT'S TIN 261-55-1212 3 lf this box is checked, your educational institution changed its reporting method for 2018 Copy B FILER'S employer identification no. 44-3421456 For Student STUDENT'S name 4 Adjustments made for a prior year 5 Scholarships or grants This is important tax information and is being furnished to the IRS. This form must be used to Crocker Gaytor s 1,000.00 Street address (including apt. no.) 12340 Cocoshell Rd. 24 6 Adjustments to scholarships or grants for a prior year 7 Checked if the amount in box 1 includes amounts for an всаdemic period beginning January- March 2019 complete Form 8863 to claim education credits. Give it to the City or town, state or province, country, and ZIP or foreign postal code Coral Gables, FL 33134 Service Provider/Acct. No. (see instr.) %24 9 Checked if a graduate tax preparer or use it to prepare the tax retum. 8 Check if at least 10 Ins. contract reimb./refund half-time student student Form 1098-T (keep for your records) Department of the Treasury - Intemal Revenue Service www.irs.gow/Form1098T