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Dave Stevens, age 3 4 , is a self - employed physical therapist. His wife Sarah, age 3 1 , teaches English as a Second
Dave Stevens, age is a selfemployed physical therapist. His wife Sarah, age teaches English as a Second Language at a local language school. Dave's Social Security number is Sarah's Social Security number is Sarah and Dave have three childrenAndrew, age ; Isaac, age ; and Mira, age The children's Social Security num bers are, respectively, and They live at Pheasant Run, West Bend, Oregon They paid $ in qualified residence interest and $ in property taxes on their home. They had cash charitable contributions of $ They also paid $ to a CPA for preparing their federal and state income tax returns for the prior year, $ of which was for the preparation of Dave's Schedule C Sarah and Dave earned interest on CDs of $ Sarah's salary for the year is $ trom which $ in federal income tax and $ in state income tax were withheld. Dave's office is located at Suite Woodview Drive, Portland, Oregon and his employer ID number is Dave has been practicing for four years, and he uses the cash method of accounting. During Dave recorded the following items of income: Revenue from patient visits $Interest earned on the office $checking balance The following expenses were recorded for the office: Property taxes $Mortgage interest $Depreciation $Malpractice insurance $Utilities $Office staff salaries $Rent payments on equipment $Office magazine subscriptions $Office supplies $Medical journals $Dave pays $ annually for use of a safety deposit box to store certain confidential docu ments related to his business. In addition to his medical practice, Dave spends hours every week managing his real estate investments. To make sure he is aware of all current investment strategies and best practices, he subscribes to the following journals: Wall Street Journal $ US News & World Report $ Money Magazine $ Dave also prepaid $ in estimated federal income taxes. Prepare Dave and Sarah's tax return Form Schedules A B C SE and Form Disregard any tax credits for which they may be eligible and assume the couple has no transactions involving virtual currency. Use the most recent forms on the irs website.
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