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hello, i need help solving this project Bob and Melissa Grant 1. Bob (age 43) and Melissa (age 43) Grant are married and live in

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Bob and Melissa Grant 1. Bob (age 43) and Melissa (age 43) Grant are married and live in Lexington, Kentucky. The Grants have two children: Jared, age 15, and Alese, age 12. The Grants would like to file a joint tax return for the year. The following information relates to the Grants' tax year: Bob's social security number is 598-94-2583 Melissa's social security number is 301-52-2942 Jared's social security number is 887-44-8710 Alese's social security number is 810-42-9092 The Grants' mailing address is 95 Hickory Road, Lexington, Kentucky 40502. Jared and Alese are tax dependents for federal tax purposes. 2. Bob Grant's Forms W-2 provided the following wages and withholding for the year: Employer Gross Wages Federal Income Tax Withholding $8,000 State Income Tax Withholding $3,750 National Storage Lexington Little League $66,200 $4,710 0 0 Melissa Grant's Form W-2 provided the following wages and withholding for the year: Employer Jensen Photography Gross Wages $44,500 Federal Income Tax State Income Tax Withholding Withholding $5,450 $2,225 The above amounts do not reflect any income items described below. The Grants' employer withheld all payroll taxes it was required to withhold. All the Grant family was covered by minimum essential health insurance during each month in 2019. The insurance was provided by Bob's primary employer, National Storage. 3. The Grants also received the following during the year: Interest income from First Kentucky Bank Interest income from City of Lexington, KY Bond Interest income from U.S. Treasury Bond Interest income from Nevada State School Board Bond Workers' compensation payments to Bob $130 $450 $675 $150 $4,350 Disability payments received by Bob due to injury $3,500 Bob paid 100% of the premiums on the policy Melissa received the following payments due to a lawsuit she filed for damages sustained in a car accident: Medical Expenses for physical injuries $2,500 Emotional Distress (from having been physically injured) $12,000 Punitive Damages $10,000 Total $24,500 4. Eight years ago, Melissa purchased an annuity contract for $88,000. She received her first annuity payment on January 1, 2019. The annuity will pay Melissa $15,000 per year for ten years (beginning with this year). The $15,000 payment was reported to Melissa on Form 1099-R for the current year (box 7 contained an entry of "7" on the form). 5. The Grants did not own, control or manage any foreign bank accounts nor were they grantors or beneficiaries of a foreign trust during the tax year. 6. The Grants paid or incurred the following expenses during the year: Dentist/Orthodontist (unreimbursed by insurance) $ 10,500 Doctor fees (unreimbursed by insurance) $ 2,625 Prescriptions (unreimbursed by insurance) $ 1,380 KY state tax payment made on 4/15/19 for 2018 tax return liability $ 1,350 KY state income taxes withheld during 2019 $5,975 Real property taxes on residence $ 3,800 Vehicle registration fee based upon value of vehicle $ 1,250 Mortgage interest on principal residence (reported on Form 1098. $ 18,560 The grants borrowed $420,000 to by their principle residence.) Interest paid on borrowed money to purchase U.S. Treasury bonds $ 240 Contribution to the Red Cross $1,000 Contribution to First Baptist Church of Kentucky $ 6,200 7. The Grants drove 465 miles in total to receive medical treatment at a hospital in April. Transportation cost to medical services may be deductible at actual cost or 200 per mile in 2019. Assignment Complete Federal income tax return for 2019. Assume that The Grants is filing the return on time (before April 15, 2020). Prepare the return without using the tax return software. In preparing the return, you will need to use form 1040, Schedule 1, Schedule A, and form 4952. You may ignore any Alternative Minimum Tax (AMT) calculations and should not prepare any AMT-related forms. Ignore the requirement to attach the form(s) W-2 to the front page of the Form 1040. If required information is missing, use reasonable assumptions to fill in the gaps. Bob and Melissa Grant 1. Bob (age 43) and Melissa (age 43) Grant are married and live in Lexington, Kentucky. The Grants have two children: Jared, age 15, and Alese, age 12. The Grants would like to file a joint tax return for the year. The following information relates to the Grants' tax year: Bob's social security number is 598-94-2583 Melissa's social security number is 301-52-2942 Jared's social security number is 887-44-8710 Alese's social security number is 810-42-9092 The Grants' mailing address is 95 Hickory Road, Lexington, Kentucky 40502. Jared and Alese are tax dependents for federal tax purposes. 2. Bob Grant's Forms W-2 provided the following wages and withholding for the year: Employer Gross Wages Federal Income Tax Withholding $8,000 State Income Tax Withholding $3,750 National Storage Lexington Little League $66,200 $4,710 0 0 Melissa Grant's Form W-2 provided the following wages and withholding for the year: Employer Jensen Photography Gross Wages $44,500 Federal Income Tax State Income Tax Withholding Withholding $5,450 $2,225 The above amounts do not reflect any income items described below. The Grants' employer withheld all payroll taxes it was required to withhold. All the Grant family was covered by minimum essential health insurance during each month in 2019. The insurance was provided by Bob's primary employer, National Storage. 3. The Grants also received the following during the year: Interest income from First Kentucky Bank Interest income from City of Lexington, KY Bond Interest income from U.S. Treasury Bond Interest income from Nevada State School Board Bond Workers' compensation payments to Bob $130 $450 $675 $150 $4,350 Disability payments received by Bob due to injury $3,500 Bob paid 100% of the premiums on the policy Melissa received the following payments due to a lawsuit she filed for damages sustained in a car accident: Medical Expenses for physical injuries $2,500 Emotional Distress (from having been physically injured) $12,000 Punitive Damages $10,000 Total $24,500 4. Eight years ago, Melissa purchased an annuity contract for $88,000. She received her first annuity payment on January 1, 2019. The annuity will pay Melissa $15,000 per year for ten years (beginning with this year). The $15,000 payment was reported to Melissa on Form 1099-R for the current year (box 7 contained an entry of "7" on the form). 5. The Grants did not own, control or manage any foreign bank accounts nor were they grantors or beneficiaries of a foreign trust during the tax year. 6. The Grants paid or incurred the following expenses during the year: Dentist/Orthodontist (unreimbursed by insurance) $ 10,500 Doctor fees (unreimbursed by insurance) $ 2,625 Prescriptions (unreimbursed by insurance) $ 1,380 KY state tax payment made on 4/15/19 for 2018 tax return liability $ 1,350 KY state income taxes withheld during 2019 $5,975 Real property taxes on residence $ 3,800 Vehicle registration fee based upon value of vehicle $ 1,250 Mortgage interest on principal residence (reported on Form 1098. $ 18,560 The grants borrowed $420,000 to by their principle residence.) Interest paid on borrowed money to purchase U.S. Treasury bonds $ 240 Contribution to the Red Cross $1,000 Contribution to First Baptist Church of Kentucky $ 6,200 7. The Grants drove 465 miles in total to receive medical treatment at a hospital in April. Transportation cost to medical services may be deductible at actual cost or 200 per mile in 2019. Assignment Complete Federal income tax return for 2019. Assume that The Grants is filing the return on time (before April 15, 2020). Prepare the return without using the tax return software. In preparing the return, you will need to use form 1040, Schedule 1, Schedule A, and form 4952. You may ignore any Alternative Minimum Tax (AMT) calculations and should not prepare any AMT-related forms. Ignore the requirement to attach the form(s) W-2 to the front page of the Form 1040. If required information is missing, use reasonable assumptions to fill in the gaps

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