Comprehensive Problems 4 Skylar and Walter Black have been married for 25 years. They live at 883 Scrub Brush Street, Apt. 52B, Las Vegas, NV 89125. Skylar is a homemaker and Walt is a high school teacher. Skylar's Social Security number is 222-43-7690 and Walt's is 700-01-0002. Neither are age 65 or older. The Blacks provide all the support for Skylar's mother, Rebecca Backin (Social Security number 411-66-2121), who lives in a nursing home in Reno, NV and has no income. Walter's father, Alton Black (Social Security number 343-22-8899), lives with the Blacks in Las Vegas. Although Alton received Social Security benefits of $7,600 in 2018, the Blacks provide over half of Alton's support. Walt's earnings from teaching are: 700-01-0062 CM. 188.000 FT e-file 50,900.00 4,320.00 50,900.00 50.900.00 Las Vegas, NV 89169 m chum 31-1238967 my d pood Las Vegas School District 2234 Vegas Valley Drive 3.155.80 738.05 DD 7.800.00 Walter Black 883 Scrub Brush Street, Apt #52B Las Vegas, NV 89125 BE SP NV 2018 I W-2 Cowo- To Theo Wage and Tax Statement n g FEDERAL Tatum cungulo real ice The Blacks moved from Maine to Nevada. As a result, they sold their house in Maine on January 4, 2018. They originally paid $76,000 for the home on July 3, 1993, but managed to sell it for $604,000. They spent $13,000 on improvements over the years. They are currently renting in Las Vegas while they look for a new home. The Blacks received the following 1099-DIV from their mutual fund investments: CORRECTED checked $ 1.400.00 2018 Dividends and Distributions Cyber Funds Equities Fund 41 Wall Street New York, NY 10005 $ 998.00 000 6.543.12 Copy 17-1234326 222-43-7690 COPO Skylar B. Black 883 Scrub Brush Street 252B Ce prodoro Las Vegas, NV 89125 FATCA campus de padre www.in. of Depre m Form 1000-DIV keep for your The Blacks own a ski condo located at 123 Buncombe Lane, Brian Head, UT 84719. The condo was rented for 184 days during 2018 and used by the Blacks for 16 days. Pertinent information about the condo rental is as follows: Rental income $12,000 Mortgage interest reported on Form 1098 8,600 Homeowners' association dues 5,200 Utilities 1,200 Maintenance 3.800 Depreciation (assume fully depreciated) O The above amounts do not reflect any allocation between rental and personal use of the condo. The Blacks are active managers of the condo. Required: Complete the Black's federal tax return for 2018. Use Form 1040, Schedule 1, Schedule D, Form 8949, Schedule E, Form 8582 (page one only) and the Qualified Dividends and Capital Gain Worksheet to complete their tax return. Comprehensive Problems 4 Skylar and Walter Black have been married for 25 years. They live at 883 Scrub Brush Street, Apt. 52B, Las Vegas, NV 89125. Skylar is a homemaker and Walt is a high school teacher. Skylar's Social Security number is 222-43-7690 and Walt's is 700-01-0002. Neither are age 65 or older. The Blacks provide all the support for Skylar's mother, Rebecca Backin (Social Security number 411-66-2121), who lives in a nursing home in Reno, NV and has no income. Walter's father, Alton Black (Social Security number 343-22-8899), lives with the Blacks in Las Vegas. Although Alton received Social Security benefits of $7,600 in 2018, the Blacks provide over half of Alton's support. Walt's earnings from teaching are: 700-01-0062 CM. 188.000 FT e-file 50,900.00 4,320.00 50,900.00 50.900.00 Las Vegas, NV 89169 m chum 31-1238967 my d pood Las Vegas School District 2234 Vegas Valley Drive 3.155.80 738.05 DD 7.800.00 Walter Black 883 Scrub Brush Street, Apt #52B Las Vegas, NV 89125 BE SP NV 2018 I W-2 Cowo- To Theo Wage and Tax Statement n g FEDERAL Tatum cungulo real ice The Blacks moved from Maine to Nevada. As a result, they sold their house in Maine on January 4, 2018. They originally paid $76,000 for the home on July 3, 1993, but managed to sell it for $604,000. They spent $13,000 on improvements over the years. They are currently renting in Las Vegas while they look for a new home. The Blacks received the following 1099-DIV from their mutual fund investments: CORRECTED checked $ 1.400.00 2018 Dividends and Distributions Cyber Funds Equities Fund 41 Wall Street New York, NY 10005 $ 998.00 000 6.543.12 Copy 17-1234326 222-43-7690 COPO Skylar B. Black 883 Scrub Brush Street 252B Ce prodoro Las Vegas, NV 89125 FATCA campus de padre www.in. of Depre m Form 1000-DIV keep for your The Blacks own a ski condo located at 123 Buncombe Lane, Brian Head, UT 84719. The condo was rented for 184 days during 2018 and used by the Blacks for 16 days. Pertinent information about the condo rental is as follows: Rental income $12,000 Mortgage interest reported on Form 1098 8,600 Homeowners' association dues 5,200 Utilities 1,200 Maintenance 3.800 Depreciation (assume fully depreciated) O The above amounts do not reflect any allocation between rental and personal use of the condo. The Blacks are active managers of the condo. Required: Complete the Black's federal tax return for 2018. Use Form 1040, Schedule 1, Schedule D, Form 8949, Schedule E, Form 8582 (page one only) and the Qualified Dividends and Capital Gain Worksheet to complete their tax return
