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Can you please fill out the attached tax form for the following prompt? Kelly's father passed away during the year. Kelly and Chanelle received $
Can you please fill out the attached tax form for the following prompt? Kelly's father passed away during the year. Kelly and Chanelle received $ from the life
insurance policy. Neither Kelly nor Chanelle paid any of the premiums. Chanelle purchased
shares of Thurston Co stock on May for $ Thurston Co was declared bankrupt
during the current year. Chet's physician recommended that he see a physical therapist to help
with his disability. Kelly paid the therapist $ during the year because his insurance would
not cover the bills.
Kelly and Chanelle went to Las Vegas and won $ at the blackjack table. The next night,
they lost $
Kelly and Chanelle gave $ to their church and, during the year, they had the following other
income and expenses:
Prepare Kelly and Chanelle's tax return Form and Schedules A B C D and SE for
Assume the couple had no transactions involving virtual currency Kelly and Chanelle Chambers, ages and are married and live at Thoreau Drive,
Boston, MA Kelly's Social Security number is and Chanelle's is
The Chambers have two children: Emma, age and Chet, age Their Social
Security numbers are and respectively. Emma is a single college
student and earned $ during the summer. Kelly and Chanelle help Emma through school
by paying for her room, board, and tuition. Emma lives at home during the summer. Chet has a
physical handicap and lives at home. He attends a local university and earned $ working
for a marketing firm. In sum, Kelly and Chanelle provide more than of both Emma's and
Chet's total support for the year.
Kelly is a commercial pilot for a small airline. His salary is $ from which $ of
federal income tax and $ of state income tax were withheld. Kelly also pays premiums for
health, disability, and life insurance. $ of the premium was for health insurance, $ for
disability, and $ for life insurance.
Chanelle owns Alliance Networks, a proprietorship that does network consulting. During the
year, Chanelle's gross revenues were $ She incurred the following expenses in her
business:
Kelly enjoys playing guitar and plays in a band. Kelly's band has developed a local following. This year, his gross
revenues were $ for playing shows and $ on CD sales. He incurred the following expenses:
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