Erin K. Cole and Shelly C. Cole are husband and wife who live at 8721 Tustin Drive, Los Angeles, CA 90027 with their son and daughter Aaron E. Cole and Marilyn S. Cole. Erin's main source of income comes through his rental properties. Shelly is a part-time accountant for a local accounting firm. For 2021, Shelly received a W2 for her services: Lines 1 Description Wages Amounts $32,000 2 Federal Income Tax W/H $3,200 3 Social Security Wages $32,000 4 Social Security Tax $1,984 5 Medicare Wages $32,000 6 Medicare Tax Withheld $464 14 CA SDI $160 15 State California 16 State Wages 17 State Tax $32,000 $320 Erin has two rental properties which he owns and manages. The first one is 4512 Scully Drive, Anaheim, CA 92801. This one is being operated under the Single Member LLC business by the name of Skull Rental LLC (EIN: 84-1124527). It is a multi-family residence and was a rental for all 365 days. Erin provided the following information about the rental: 1. Gross Rent Received 2. Expenses: a. Real Estate Taxes b. Mortgage Interest c. Insurance d. Cleaning and Maintenance e. Repairs f. State Taxes g. Utilities 3. Mortgage: a. Original Date it was taken b. Original Amount c. Original Duration d. Refinanced on e. Refinanced Duration f. Current Amount (beginning and ending) 4. Assets: a. Total value of the property (80% building and 20% land) b. Placed in Service c. Accumulated Depreciation - Building (on Jan.,1 2021) d. Refinance Loan Costs (08/18/19) e. Accumulated Amortization - Refinance Costs (on Jan. 1, 2021) $145,000 $25,000 $40,000 $5,000 $4,500 $3,500 $800 $700 05/15/15 $1,500,000 30 years 08/18/19 20 years $900,000 $1,700,000 07/01/2015 $271,548 $20,000 $1,292