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Does anyone have the solution to this question? please help. Thank you. COMPREHENSIVE PROBLEM 2 With Emphasis on Schedule A Jamie and Cecilia Reyes are
Does anyone have the solution to this question? please help. Thank you.
COMPREHENSIVE PROBLEM 2 With Emphasis on Schedule A Jamie and Cecilia Reyes are husba~d and wife and file a joint return. They live at 5677 Apple Cove Road, Boise, ID 83722. Jamie's social security number is412-34-5670 (date ofbirth 6/15/1964) and Cecilia's is 412-34-5671 (date of birth 4/12/1966). They provide more than half of the support of their daughter, Carmen (age 23), social security number 412-34-5672 (date of birth 9/1/1990), who is a full-time veterinarian school student. Carmen received a $3,200 scholarship covering her room and board at college. She was not required to perform any services to receive the scholarship. Jamie and Cecilia furnish all of the support of Maria (Jamie's grandmother), social security number 412-34-5673 (date of birth 11/6/1943), who is age 70 and lives in a nursing home. They also have a son, Gustavo (age 4), social security number 412-34-5674 (date of birth 3/14/2009). Jamie's W-2 contained the following information: Federal Wages (box I) = $145,625.00 Federal WIH (box 2) = $ 19,612.50 Social Security wages (box 3) = $113,700.00 Social Security WIH (box 4) = $ Medicare Wages (box 5) = $145,625.00 Medicare W/H (box 6) = $ 7,049.00 2,111.56 State Wages (box 16) = $145,725.00 State WIH (box 17) = $ 5,435.00 Other receipts for the couple were as follows: $2,500 $ 220 22 ar stu ed d vi y re aC s ou ou rc rs e eH w er as o. co m Dividends (all qualified dividends) Interest income: Union Bank State of Idaho-interest on tax refund City of Boise school bonds Interest from U.S. savings bonds (not used for educational purposes) 2012 federal income tax refund received in 2013 2012 state income tax refund received in 2013 Idaho lottery winnings Casino slot machine winnings Gambling losses at casino 1,250 410 2.007 218 1,100 2,250 6,500 sh Th is Other information that the Reyeses provided for the 2013 tax year: Mortgage interest on personal residence Loan interest on fully equipped motor home Doctor's fee for a face-lift for Mrs. Reyes Dentist's fee for a new dental bridge for Mr. Reyes Vitamins for the entire family Real estate taxes paid DMV fees on motor home (tax portion) DMV fees on family autos (tax portion) Doctors' bills for grandmother Nursing home for grandmother Wheelchair for grandmother Property taxes on boat Interest on personal credit card Interest on loan to buy public school district bonds Cash contributions to church (all the contributions were in cash and none more than $250 at anyone time) Cash contribution to man at bottom of freeway off-ramp Contribution of furniture to Goodwill-eost basis Contribution of furniture to Goodwill-fair market value Tax return preparation fee for 2012 taxes $11 ,081 3,010 6,800 2,500 110 $ 5,025 1,044 436 2,960 9,200 1,030 134 550 270 4,100 25 4,000 410 525 Required: Prepare a Form 1040, Schedule A, and Schedule B for the completion of the Reyeses' taxretum. They do not want to contribute to the presidential election campaign and do not want anyone to be a third-party designee. For any missing information, make reasonable assumptions. https://www.coursehero.com/file/10410653/COMP-PROBLEM-2/ Powered by TCPDF (www.tcpdf.org) .t r F ~.. Ii.,. I tStep by Step Solution
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