Complete the following forms for 2018:

1040

Schedule A

Schedule 1

Form 8889

Georgia Form 500

owing federal and state tax 1040 b. Schedule 1 (Form 1040) 10. Schedule a d. Form 889 Health Savings Accounts (HSAs) c. Georgia Form 500 Individual Income Tax Return Personal Your name is Courtney Sean Chandler SSN 789-54-6321 Your poussane is Robin Blake Chandler SSN 456-12-1234 You have 2 children: Bailey (777-12.8989) bom 5/5/2012: Drew (963-12-4321) bom TV10 2015 3 Courtney Income - $68,000 b. 401- contribution 5% of salary plus 10% from employer 4. Robin Income - 558,000 b. 401-K contribution 6% of salary plus 5% from employer 5. You purchased your home in Crossroads. GA on January 1.2007 for $250,000 and financed $200,000 al 4.75% over 30 ye . The current market value of the home is $330,000 6. Property taxes rate is 0.90% per $1,000 of home value 7. Charitable Gifts Clothing to Goodwill Industries $90 b. Hearts & Hands Clinic $500 c. GS Alumni Assoc. $600 8. State tax refunded in 2018 was $680 9. On January 1, 2014, you and Robin used a home equity loan (2 mortage: 10 years at 5.75%) to purchase a condominium in Hilton Head for $106,250. You financed $85.000 at 5.1 25% for 15 years. You rent the condo year-round for $1,300 per month. The HOA monthly fee is $300. Hazard insurance is included in the HOA fee. In 2018, maintenance expenses were $378. Property taxes for 2018 were $1,750. The depreciable basis on the condo is $85,000. You manage the rental yourself. Is the condo a profitable investment? What is the current (January 1, 2019) value of the equity in the condo? What is the current (January 1, 2019) value of the equity in your home? What is the maximum mortgage for which you can quality, assuming: a. 80% loan b. 95% loan Given current salaries and current savings percentages and an expected annual growth rate of 3.00%, what will be the balances in your 401(k) accounts in 30 years? Assume Courtney has $25,000 and Robin has $17,000 in their respective accounts, already. Assume an average annual return of 8.5% owing federal and state tax 1040 b. Schedule 1 (Form 1040) 10. Schedule a d. Form 889 Health Savings Accounts (HSAs) c. Georgia Form 500 Individual Income Tax Return Personal Your name is Courtney Sean Chandler SSN 789-54-6321 Your poussane is Robin Blake Chandler SSN 456-12-1234 You have 2 children: Bailey (777-12.8989) bom 5/5/2012: Drew (963-12-4321) bom TV10 2015 3 Courtney Income - $68,000 b. 401- contribution 5% of salary plus 10% from employer 4. Robin Income - 558,000 b. 401-K contribution 6% of salary plus 5% from employer 5. You purchased your home in Crossroads. GA on January 1.2007 for $250,000 and financed $200,000 al 4.75% over 30 ye . The current market value of the home is $330,000 6. Property taxes rate is 0.90% per $1,000 of home value 7. Charitable Gifts Clothing to Goodwill Industries $90 b. Hearts & Hands Clinic $500 c. GS Alumni Assoc. $600 8. State tax refunded in 2018 was $680 9. On January 1, 2014, you and Robin used a home equity loan (2 mortage: 10 years at 5.75%) to purchase a condominium in Hilton Head for $106,250. You financed $85.000 at 5.1 25% for 15 years. You rent the condo year-round for $1,300 per month. The HOA monthly fee is $300. Hazard insurance is included in the HOA fee. In 2018, maintenance expenses were $378. Property taxes for 2018 were $1,750. The depreciable basis on the condo is $85,000. You manage the rental yourself. Is the condo a profitable investment? What is the current (January 1, 2019) value of the equity in the condo? What is the current (January 1, 2019) value of the equity in your home? What is the maximum mortgage for which you can quality, assuming: a. 80% loan b. 95% loan Given current salaries and current savings percentages and an expected annual growth rate of 3.00%, what will be the balances in your 401(k) accounts in 30 years? Assume Courtney has $25,000 and Robin has $17,000 in their respective accounts, already. Assume an average annual return of 8.5%