Dear Tutor,
Can you please tell me if I have completed this IRS tax form Schedule A correctly as per the Professor's instructions?
SCHEDULE A Itemized Deductions OMB No. 1545-0074 (Form 1040 or 1040-SR) (Rev. January 2020) Go to www.irs.gov/ScheduleA for instructions and the latest information. Attach to Form 1040 or 1040-SR. 2019 Department of the Treasury Caution: If you are claiming a net qualified disaster loss on Form 4684, see the instructions for line 16. Attachment Internal Revenue Service (99)| Sequence No. 07 Name() shown on Form 1040 or 1040-SR Your social security number Medical Caution: Do not include expenses reimbursed or paid by others. and 1 Medical and dental expenses (see instructions) Dental 2 Enter amount from Form 1040 or 1040-SR, line 8b |2 |8/ 9523 Expenses 3 Multiply line 2 by 7.5% (0.075) . . . 4 Subtract line 3 from line 1. If line 3 is more than line 1, enter -0- . 4 Taxes You 5 State and local taxes. Paid a State and local income taxes or general sales taxes. You may include either income taxes or general sales taxes on line 5a, but not both. If you elect to include general sales taxes instead of income taxes, check this box . . . 5a 4,400 b State and local real estate taxes (see instructions). c State and local personal property taxes . 50 d Add lines 5a through 5c . 50 4, 401 Enter the smaller of line 5d or $10,000 ($5,000 if married filling separately) . . 50 4,400 Other taxes. List type and amount _ 7 Add lines 5e and 6 7 4 400 Interest 8 Home mortgage interest and points. If you didn't use all of your home You Paid mortgage loan(s) to buy, build, or improve your home, see Caution: Your Instructions and check this box . mortgage interest deduction may be a Home mortgage interest and points reported to you on Form 1098. limited (see See instructions if limited 8a Instructions). b Home mortgage interest not reported to you on Form 1098. See Instructions If limited. If paid to the person from whom you bought the home, see instructions and show that person's name, identifying no., and address . 8b c Points not reported to you on Form 1098. See instructions for special rules 8c d Mortgage insurance premiums (see instructions) . 8d Add lines 8a through 8d . . 9 Investment interest. Attach Form 4952 if required. See instructions . 10 Add lines Be and 9 10 Gifts to 11 Gifts by cash or check. If you made any gift of $250 or more, see Charity instructions . 11 Caution: If you 12 Other than by cash or check. If you made any gift of $250 or more, made a gift and got a benefit for it, see instructions. You must attach Form 8283 if over $500. 12 see instructions. 13 Carryover from prior year 13 14 Add lines 11 through 13 . 14 Casualty and 15 Casualty and theft loss(es) from a federally declared disaster (other than net qualified Theft Losses disaster losses). Attach Form 4684 and enter the amount from line 18 of that form. See Instructions 15 Other 16 Other-from list in instructions. List type and amount Itemized Deductions 16 Total Add the amounts in the far right column for lines 4 through 16. Also, enter this amount on Itemized Form 1040 or 1040-SR, line 9 . 17 4,400 Deductions 18 If you elect to itemize deductions even though they are less than your standard deduction, check this box . .DO For Paperwork Reduction Act Notice, see the Instructions for Forms 1040 and 1040-SR. Cat. No. 171450 Schedule A (Form 1040 or 1040-SR) 201911/7/2020 Individual Tax CRN 85211 Project 2 75 points Due Tuesday, December 8, 2020 Bob and Jill, a married couple, need to le their 2012-1I taxes. Their income and expense information for the tax year follows. They wish to use the \"Married Filing Jointly\" ling status. They have one child, Dave, who is 5 years old and lives with them at home. They pay 4,000 a year for after school care for Dave (hint Form 2441 and Schedule 3) Their relevant W-2 information follows 0 82,000 of combined federal taxable income 0 They had 12,500 of federal taxes withheld 0 They paid [had withheld] 2,600 of state taxes I They received a state tax refund in 2019 from their 2018 taxes of 328 dollars. 0 They paid [had withheldi1,800 of local taxes They rent their home and pay no mortgage interest They paid 2,500 of student loan interest in 2019 Jill has a side business named "Jill's Fabulous Cupcakes\" in which she earned 3,000 in income and incurred 700 dollars of expenses in 2019 (hint schedules c and 5E}. All addresses and SSNs can be made up by the student in preparing this return. Requirements Grading To complete Bob and Jill's 2019 tax return. All forms necessary are provided. All information necessary is provided in this document. If you need assistance with completing this tax return, see any ofthe prior chapter Homework tax return problems. They can help you in understanding the numerical flow on a tax return, that is, how one page flows to another. Grading is done by sheet, and in consideration of the overall quality of the tax return. One mistake does not carry forward to other mistakes on the return where that mistake goes
