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Could you please look at this problem? I need this answer in Form 1040,2441,8283,3903,4562. And Schedule A,B,C,D,SE. COMPREHENSIVE TAX RETURN PROBLEM l. Dwid R. and
Could you please look at this problem? I need this answer in Form 1040,2441,8283,3903,4562. And Schedule A,B,C,D,SE.
COMPREHENSIVE TAX RETURN PROBLEM l. Dwid R. and Susan L. Holman a. Da vid and Susan Holman are married and fi le a joint return. David is 38 years of age :Uld Susan is 36. David is a self-employed certified real est.ale appr.ti,er (C.R.E.). and Susan is employed by Wells Fargo Bank :.ts a trust officer. They ha\\e two children: Rich:nd Lawrence. age se,en. and Karen Ann. age four. The Holmans currenth- li,e at 5901 \\\\'. 75th Street. Los Angeles. Californin 90034. in a home they purch;{sed and occupied on September 6. 2014. Until Aucmt I:!. :!014 the Holman familv li,ed at 3085 Windmill Lane in Dallas. Texas. where Da\\"id was employed by vestpar Company. a real estate :1p prais:tl comp:my and Susan was a bank officer for First National Bank. They sold their home in Dallas :md mo,ed to Los Angeles so that Susan could assume her new job as a tmst officer and Da\\"id could become self-employed. h. Da,id and Susan sold their home in Dallas for S315,000 and incurred the following expenses: Sales commission . . .. ... .. . . .... .. ... .. ...... .. . .. Attorney's fee. . . . .. . . ... ...... .... ............... Ttt1.e insurance .. . . .... . ...... .... . ....... .. .. ... .. . Document preparation fee .............................. Recording fee.................................. . Pest inspection fee ......... .................. ... ...... Prepayment penalty for early retirement of home mortga ge (3 points} ......... .... .... . .... . .. . $18,900 1,800 2.650 90 30 190 1.500 The Holmans had purchased the Dallas home on August -t. 2006 and never hdd it for rent or used it for business purposes. The home originally cost S 177.500, and they had paid $6,200 for a cedar fence and S7.900 for landscaping. Within se\\en weeks of receiving a contract of sale on their house, the Holm:ms paid S8.500 for interior and exterior painting and $600 for steam-cleaning of the carpets. The sale was closed on August l. 2014 and the Holmans were required to move out of the home by August 15, 2014. c. In moving from Dallas to Los Angeles, the Holmans incurred the following expenses. nne of which were reimbu-rsed: Cost of moving household goods...................... . Meals.................. .. . .. . . . . .... . . ..... . Lodging........ ..... . .... .. .. ... .. ......... House-hunting expe nses (including S150 for meals} .......... Temporary living expenses (20 days; including meals costing S400) ............................... S9.250 295 350 1,000 1,700 Not included in any of the aboYe expenses are the costs for dri\\'ing two automo biles from Dallas to Los Angeles. David and Susan each dro,e a car. taking turns driving with the children. Although neither one of them kept receipts. Sus noted that her auto mileage was 1,500 miles. In addition. David noted that the number of miles from their old home to their old workplace was 2-l miles, and the number of miles from their old home to their new workplace is l .514 miles. d. The Holmans purchased thtir new homl! for S525,000 by making a S l ::!.5.000 down payment and financing the remaining balance with a 30-year. 6<:t- con mortgage joan from california federal savings and loan. they were required lo prepay two points in return for the favorable tem1s. new furni ture dmpcs cost .in additional comprehensive to rewm d1f e. hofmans received ti1 forms w-2 reporting their salaric::5 . j. david r. holman. social security no. gross salary vestpar. inc. ...... ... income taxes withh eld f.i.c.a. taxe s wllhheld: soci al .. medicare ..... s75.000 withheld susan l. holman first national .... ........... laxes ........ wi thheld: secunty... .............. med icare............ wells fargo bank row s17 s34 s51 bdl1k total f. on october i. rented office space at wacker drive los angeles. terms of one-year lease agreement called a monthly rent with lase month paid advance. decided operate his business name certified real estate appraiser he ele.cced ro use cash method accounting revenues expenses. following items relate receipts.. ................. expenses: advertising ....... ................ service charges dues an d publications insurance............... interest professional services .................... rent............ supplies. meals entertamment..... ............. miscellaneous thr montm covtrage lndudts prepaymtnt september. drove personal automobile i buick verano. miles busi ness purposes j through december l rather than keeping receipts. elected automatic mileage determining auto dnvid yc.1r was miles. octobe r purchased furniture equipment business: fumture. copying machine computers l1ser pri nters telephone system elects expen maximum amount allowed under optional expens ing rules also computc- depreciation allowance using th appropnate macrs percentage appendix conunuous lndividuo tax problems three com prehensive lndividuoltax retmn g. holmans r.:ceihd during follow111g: u.s. treasury bills bank. dallas wel:s tarrant county municipal bonds. b. di ford motor compan y eastman kodak company ibm corporation apple stock d1v1dend shares va s60 per share march have never maintained foreign accounts or created trusts. report transactions sold august da had inherited uncle july valued s170 date death. as birthday present her grand father june grandfather s35 may gift. gift result gif1. note: annual exclusion taken into account taxable intel but did not receive sales proceeds until january fay k. has summarized expenditures canceled checks statements. other documents: prescription medicines drugs medical insurance premiums by doctor hospital reimbursements contact lenses residence angeles ad va.lorem both autos. home mortg age. credit card car contributions united methodist church salvation army baracic obama campaig n fund unreimbursed emplo yee unre t rt preparation fee m.1rtg1gt prtp.iymert idtnt aoo. mt .nt="t" poll ch.lr mocte id cloye iny mo1s tn comp1ehensive usan _also noted that she driven automobiles : nulcs treatment themselves children. receipt loo gave alma mater. southern university november oift block :eceived wedding preset item above details holm:.tns child care expenses kindergarten day school valley view texas ein: happy trails center. airport blvd. s2 karen remaining richard. m. numbers children are provided below: richard a. n. made estimated payments each quarter o. always directed go presidential election campaign checking boxes form required: complete if refund due. would prefer having it credited against taxes.>Step by Step Solution
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