Form 1040, along with Schedule 1, Schedule A, and Schedule C using 2022 tax forms

Peter and Elizabeth Whitman are married and live in Arizona. They have one dependent child, Mark Whitman. Mark is a college student at Arizona University and is in his third year. Peter works as an accountant for a manufacturing company while Elizabeth runs a photography business from their home. Elizabeth's photography business has been consistently profitable over the years, and Elizabeth spends significant time running this business. Peter and Elizabeth own a home and pay interest on their home loan (balance of $450,000) and a personal loan to pay for Mark's college expenses (balance of $50,000).

• The Whitmans live at 2200 East McDowell Road, Phoenix, AZ 85205.
• For their home phone number, enter 602.888.0526
• Indicate "not applicable" for the taxpayer social security numbers for Peter and Elizabeth. Peters birthday is 6/1/78 and Elizabeths birthday is 7/15/1978. Marks social security number is 456-12-6789. Mark was born on November 15, 2003.
• Enter Peters occupation as Accountant and Elizabeths as Photographer.
• Neither Peter nor Elizabeth is blind, and they plan to file as married filing jointly.
• If information is not otherwise provided, assume it is $0.

W-2

• Box 1: Wages, tips, other compensation $125,000
• Box 2: Federal income tax withheld $15,000
• Box 3: Social security wages $125,000
• Box 4: Social security tax withheld $7,750
• Box 5: Medicare wages and tips $125,000
• Box 6: Medicare tax withheld $1,813
• Box 16: State wages, tips, etc. $125,000
• Box 17: State income tax $6,000

Business

• Revenue $19,000
• Photography supplies $5,700
• Travel and lodging for photography sessions $2,300
• Postage for mailing photographs $175
• Self-employment tax on Elizabeth's photography income $1,656
• Employer-equivalent portion of self-employment tax $828

Other

• Real estate taxes on residence $6,480
• Sales tax paid $1,290
• Automobile license (based on weight) $338
• Mortgage interest on principal residence $17,400
• Interest on credit card balance $2,580
• Unreimbursed medical expenses $1,830
• Unreimbursed business expenses (for Peter) $2,680
• Cash contributions to the Salvation Army $595
• Mark's room and board at Arizona University $12,900
• College tuition paid for Mark $6,060 (assuming a qualifying institution)
• Interest paid on Mark's college tuition loans $0
• Interest income on Treasury bond funds $744
• Interest income on municipal bond funds $948
• Interest on certificate of deposit $1,790