1040 plz

Richard Mccarthy (born 2/14/1965; Social Security number 100-10-9090) and Christine Mccarthy (born 6/1/1967; Social security number 101-21- 3434) have a 19-year-old son (born 10/2/2000 Social Security number 555-55-1212), Jack who is a full-time student at the University of Key West The Mccarthys also have a 12-year-old daughter (Social Security number 444-23-1212), Justine, that lives with them. The Mccarthys can claim a $2,000 child tax credit for Justine and a $500 other dependent credit for Jack. Richard is the CEO at a paper company. His Form W-2 is provided. Christine is an optometrist and operates her own practice ("The Eyes of March") in town as a sole proprietor. The shop address is 1030 Morgan Highway, Clarks Summit, PA 18411 and the business code is 621320. Christine keeps her books on the accrual basis and her bookkeeper provided the following information: Gross sales $270,541 Returns 8,994 Inventory : Beginning inventory $24,000 Purchases 120,000 Ending inventory 30,000 Rent 24,000 Insurance 11,019 Professional fees 2,998 Payroll 37,113 Payroll taxes 2,877 Utilities 3,961 Office expenses 1,995 Depreciation 5,000