Question
Chegg- Please help with the 2019 filing (NOT 2017!). Please do not copy and paste the forms from 2017. That does me no help at
Chegg- Please help with the 2019 filing (NOT 2017!). Please do not copy and paste the forms from 2017. That does me no help at all. Thanks!
During 2019, Jason and Vicki Hurting, who are married with two children and filing jointly, had the following tax information. Jason owns a cash-basis landscaping business, and Vicki works as a sales executive for a manufacturing business. Jason (SSN 412-34-5670) and Vicki (SSN 412-34-5671) reside at 123 Bate Street, Bright, AL 36116. Both children are under the age of 17: Jason Jr. (412-34-5672), date of birth 7/20/11 Catlin (412-34-5673), date of birth 1/08/15 Vickis W-2 information is as follows:
Wages | $ | 94,000 |
Federal withholding | 22,000 | |
Social security wages | 94,000 | |
Social security withholding | 5,828 | |
Medicare withholding | 1,363 | |
State withholding | 4,700 | |
Other income: | ||
1099-G Alabama state tax refund is taxable because $4,700 was deducted on last years return | $ | 423 |
1099-INT First Bank of Alabama | 225 | |
1099-DIV IBM, Inc.Ordinary dividends | 125 | |
Qualified dividends | 125 | |
Jasons landscaping business (business code 811490):
Revenue | $ | 153,000 |
Wages | 41,600 | |
Payroll tax | 3,182 | |
Cell phone charge | 425 | |
Assets ( 179 elected) | ||
Item | Date Purchased | Business Use Amount | Percentage | ||
Truck (100% business) | 2/05/19 | $ | 28,000 | 100 | % |
Mower 1 | 3/08/19 | 12,000 | 100 | ||
Mower 2 | 3/08/19 | 3,400 | 100 | ||
Equipment | 6/25/19 | 1,595 | 100 | ||
The truck was over 6,000 lbs. The Hurtings had the following itemized deductions:
State income tax withholding (from above) | $ | 4,700 |
Real estate tax | 2,100 | |
Personal property tax | 425 | |
Mortgage interest | 8,300 | |
Charitable contributions | 2,400 | |
The Hurtings made four federal estimated payments of $2,500 each on their due dates.
Required:
Prepare Form 1040 plus appropriate schedules for the Hurtings for 2019. The Hurtings had qualifying health care coverage at all times during the tax year. Use the appropriate Tax Rate Schedules. (List the names of the taxpayers in the order in which they appear in the problem. Enter the required information in the Dependents section in a chronological order of "Dependent's social security number". Input all the values as positive numbers. Use Rounded values for tax computation. Do not round other intermediate computations. Round your final answers to nearest whole dollar.)
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