Dave (SSN 412-34-5670) and Alicia (SSN 412-34-5671) Stanley are married and file 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 $580,000 on October 18, 2020, for $1 million. They now live in a condo at 101 Magnolia Lane, Suite 15, Highland Park, FL 33853. 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 Salaries Payroll taxes Real estate taxes Interest Repairs and maintenance Depreciation $ 291,600 115,000 8,798 18,750 45,000 29,000 (Calculate) The following information is also for the year: 1099-INT 1099-DIV 1099-DIV old Bank Dell, Incorporated Ordinary dividends Qualified dividends IBM, Incorporated Ordinary dividends Qualified dividends Pepsi, Incorporated Ordinary dividends Qualified dividends Box 2 royalties $ 22,000 15, 250 15, 250 8,650 8,650 18,785 18,785 152,300 1099-DIV 1099-MISC Dell (held 9 month) Pepsi (held 4 month) IBM (held 30 month) Purchased 12/01/19 09/01/20 06/05/18 Sold 09/01/20 12/29/20 12/05/20 Sale Price $ 15,000 17,000 38,000 Basis $ 9,000 25,000 20,000 Gain/Loss $ 6,000 (8,000) 18,000 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 D, Schedule E, Form 4562, Form 8949, and Form 8960. (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 final 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 6A-6, Tax Tables or Tax Rate Schedules. Dave (SSN 412-34-5670) and Alicia (SSN 412-34-5671) Stanley are married and file 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 $580,000 on October 18, 2020, for $1 million. They now live in a condo at 101 Magnolia Lane, Suite 15, Highland Park, FL 33853. 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 Salaries Payroll taxes Real estate taxes Interest Repairs and maintenance Depreciation $ 291,600 115,000 8,798 18,750 45,000 29,000 (Calculate) The following information is also for the year: 1099-INT 1099-DIV 1099-DIV old Bank Dell, Incorporated Ordinary dividends Qualified dividends IBM, Incorporated Ordinary dividends Qualified dividends Pepsi, Incorporated Ordinary dividends Qualified dividends Box 2 royalties $ 22,000 15, 250 15, 250 8,650 8,650 18,785 18,785 152,300 1099-DIV 1099-MISC Dell (held 9 month) Pepsi (held 4 month) IBM (held 30 month) Purchased 12/01/19 09/01/20 06/05/18 Sold 09/01/20 12/29/20 12/05/20 Sale Price $ 15,000 17,000 38,000 Basis $ 9,000 25,000 20,000 Gain/Loss $ 6,000 (8,000) 18,000 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 D, Schedule E, Form 4562, Form 8949, and Form 8960. (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 final 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 6A-6, Tax Tables or Tax Rate Schedules