Question
Complete a Schedule A for these made up people: Judy and Eddie Kell live in Chickasha, Oklahoma. They are married and have two children. Eddie
Complete a Schedule A for these made up people:
Judy and Eddie Kell live in Chickasha, Oklahoma. They are married and have two children. Eddie works as a sales manager for a national pharmaceutical company and Judy is a nurse. During the year they receive $1,600 in reimbursements from their health insurance plan. They contributed Apple stock, worth $2,000, to Oklahoma State University on December 30, 2020 that they acquired on January 18, 2012 for $1,700. In addition, they contributed Visa stock to the American Cancer Society on November 1, 2020 that had a FMV of $1,100. It was acquired on February 10, 2020 for $800. The Kells gambling winnings for the year were $1,000 and are included in their adjusted gross income of $88,000. In addition, they provide you with the following data for the amounts they paid during the year:
Automobile insurance $ 1,450
Homeowners insurance 625
Life insurance 980
Country club dues 1,800
State taxes withheld 5,475
Property taxes (ad valorem) 6,320
Mortgage interest 6,850
Charitable contributions (cash) 8,435
Charitable contribution (clothes at FMV) 100
Gambling losses 650
Loan origination fees on their new home 250
Points paid to acquire mortgage on home 5,000
The Kells had the following health costs this year:
Health insurance premiums 1,420
Health club dues 750
Hospital 5,500
Doctor 1,500
Chiropractor 650
Dentists 1,750
Prescription drugs 275
Over-the-counter drugs 460
Complete Schedule A for the Kells. Eddies Social Security number is 063-79-4185 and Judys Social Security number is 530-22-6584.
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