expenses in 2018 for 685 Atlantic Avenue. The property was placed in service on October 01, 2018. Other Rental Income and Expenses for 2018 included: Rental Income Pinebrook Property Mortgage Interest Expense $70,000.00 Avenue A Property Real Estate Taxes $12,000.00 $135,000.00 $18,000.00 Utilities $7,000.00 Insurance $2,500.00 $14,000.00 $8,500.00 Water & Sewer $2,750.00 $5,700.00 Place in Service $1,100.00 $3,350.00 Purchase Price 01/01/2010 01/01/2018 $675,000.00 950,000.00 Bruce and Alice 2018 W-2 statement shows the following wages and withholdings: Alice 1) Wages Bruce $45,000 2) FWT $65,000 5,000 3) SWT 3,000 3,500 4) CWT urc 6,500 2,500 1,900 . The Jones also paid the following personal expenses in 2018: a. Contributions to Museum of Modern Art (a 50% Organization): 1 . Cash $25,000 ii. JP Morgan Chase Stock -FMV $32,000 (Long Term) -A/B $30,800 b. Real Estate Taxes on primary residence $10,500 c. Mortgage Interest on primary residence $15,600 d. Student loan Interest $4,800 Instructions: Make realistic assumptions about any missing or inconsistent data and state your assumptions on a separate typed schedule. Required: i. Prepare form 1040, including all schedules and forms for 2018. (Do not prepare NYS or NYC tax returns). ii. Taxpayers wishes to use the Reduce Deduction Election for charitable donations. iii. All work must be typed onto approved IRS forms (no hand written forms will be accepted). iv. Read chapter 8 to determine how to handle depreciation/amortization. V. Only hand in the appropriate forms and schedules. 4