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Dave [SSN 412-34-5670] and Alicia [SSN 412-341-5571) Stanley are married and le their return jointly. They have retired at the age of 51. The couple's

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Dave [SSN 412-34-5670] and Alicia [SSN 412-341-5571) Stanley are married and le their return jointly. They have retired at the age of 51. The couple's income consists of rental property, stock investments, and royalties from an invention. They sold their large house that they had purchased six years ago for $530,000 on October 13. 2020, for $1 million. They now live in a condo at 101 Magnolia Lane, Suite 15, Highland Park, FL 33353. The rental property is an apartment complex [building cost $1.5 million and was purchased January 5, 2020] with 30 units that rent for $27,000 per month and are at 90% occupancy. Rental income 3 291,600 Salaries 115,000 Payroll taxes 3,793 Real estate taxes 13,?50 Interest 45,000 Repairs and maintenance 29,000 Depreciation (Calculate) The following information is also for the year: IUBB-IHT Old Bank 5 22,000 IngaDIV Dell, Incorporated Ordinary dividends 15,250 Qualified dividends 15,250 Inga-DIV IBM, Incorporated Ordinary dividends 3,650 Qualified dividends 3,650 1099DIV Pepsi, Incorporated Ordinary dividends 13,235 Qualified dividends 13,105 1099MISC Box 2 royalties 152,300 Purchased Sold Sale Price Basie GainILose Dell (held 9 month) lflflg 09f01!20 5 15,000 5 9,000 5 6,000 Pepsi (held 4 month} 09flf20 12E29f20 17,000 25,000 (3,000} IBM [held 30 month) 06f05fl3 12f05!20 33,000 20,000 13,000 On January 3, 2021, Dave repurchased the exact number of shares he sold on December 29, 2020. The Stanleys paid $12,000 each quarter (four payments} in federal estimated income taxes. Prepare Form 1040 for the Stanleys. Taxpayers had qualifying health care coverage at all times during the tax year. You will also need Schedule 1, Schedule 2, Schedule B, Schedule 0, Schedule E, Form 4552, Form 3949, and Form 3960. {List the names of the taxpayers in the order in which they appear in the problem. Input all the values as positive numbers. Round all intermediate computations and nal answers to nearest whole dollar. Instructions can be found on certain cells within the forms. Do not skip rows while entering in Ordinary Dividends section on Part II of Schedule B and Residential rental property section on Section B of Form 4562. List the names of the properties in the order in which they appear in the problem.) Use the appropriate Table {SA-6. Tax Tables or Tax Rate Schedules

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