Assuming Jay and JoAnn have this same business that they run as a partnership, prepare their joint Federal income tax return for $2024.$ Attached is the copy of the partnership K$-1$ for each of them $($a total of $2$ Forms K$-1.$ Assume that they have no dependents, do not have any other income or itemized deductions, and they made quarterly Federal income tax payments totaling $$7,000.$ Don$$t forget to include a standard deduction. Create the preliminary tax worksheet. $\backslash$begin$\{$tabular$\}\{|$l$|$l$|\}$

$\backslash$hline & Tax Return $\backslash$#$2-$ Prelimnary Tax Worksheet $\backslash \backslash$

$\backslash$hline & $-$ Preliminary Tax Worksheet $\backslash \backslash$

$\backslash$hline & S$/$E Income $-$ K$-1\backslash \backslash$

$\backslash$hline & $1/2$ S$.$E$.$ Tax $\backslash \backslash$

$\backslash$hline & Medical Insurance $\backslash \backslash$

$\backslash$hline & AGI $\backslash \backslash$

$\backslash$hline & Standard Deduction $\backslash \backslash$

$\backslash$hline & Taxable income before QBI $\backslash \backslash$

$\backslash$hline & QBI $\backslash \backslash$

$\backslash$hline & Taxable Income $\backslash \backslash$

$\backslash$hline & $\backslash \backslash$

$\backslash$hline & QBI Lesser of $\backslash \backslash$

$\backslash$hline & S$/$E Income $\backslash \backslash$

$\backslash$hline & Less $1/2$ S$.$E$.$ Tax $\backslash \backslash$

$\backslash$hline & $\backslash \backslash$

$\backslash$hline & $-\backslash \backslash$

$\backslash$hline & $\backslash \backslash$

$\backslash$hline & OR $\backslash \backslash$

$\backslash$hline & Taxable income before QBI $\backslash \backslash$

$\backslash$hline & $\backslash \backslash$

$\backslash$hline & $-\backslash \backslash$

$\backslash$hline & $\backslash \backslash$

$\backslash$hline & Income Tax $\backslash \backslash$

$\backslash$hline & Self$-$Employment Tax $\backslash \backslash$

$\backslash$hline & Tax Liability $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$ Jay Jefferson K$-1$ Statement $($Sch K$1(1065))$ JoAnn Jefferson K$-1$ Statement $($Sch K$1(1065))$