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complete a 2 0 2 3 tax return based on info below Joe and Jessie are married and have one dependent child, Lizzie. Lizzie is
complete a tax return based on info below
Joe and Jessie are married and have one dependent child, Lizzie. Lizzie is currently in college at State University. Joe works as a design engineer for a manufacturing firm white Jessie runs a craft business from their home. Jessie's craft business consists of making craft items for sale at craft shows that are held periodically at various locations. Jessie spends considerable time and effort on her craft business and it has been consistently profitable over the years. Joe and Jessie own a home and pay interest on their home loan balance of $ and a personal loan to pay for Lizzie's college expenses balance of $
Neither Joe nor Jessie are blind or over age and they plan to file as married filing joint. Assume that the employer portion of the selfemployment tax on Jessie's income is $ Joe and Jessie have summarized the income and expenses they expect to report this year as follows:
Income:
Joe's salary $
Jessie's craft sales $
Interest from certificate of deposit,
Interest from Treasury bond funds,
Interest from Municipal bonds,
Expenditures:
Federal income tax withheld from Joes wages $
State income tax withheld from Joe's wages,
Social Security tax withheld from Joe's wages
Real estate taxes on residence,
Automobile licenses based on weight
State sales tax paid,
Home mortgage interest,
Medical expenses unreimbursed
Joe's employee expenses unreimbursed
Cost of Jessie's craft supplies
Postage for mailing crafts
Travel and lodging for craft'shows
Selfemployment tax on Jessie's craft income
College turition paid for Lizzie Interest on loans to pay Lizzie's tuition,
Lizzie's room and board at college,
Cash contributions to Red Cross,
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