Question
I need help completing the Schedules A, D, E, and B using the information below. CAN YOU PLEASE HELP ME? Taxpayer Information Name:John Washington &
I need help completing the Schedules A, D, E, and B using the information below. CAN YOU PLEASE HELP ME?
Taxpayer Information
Name:John Washington & Debra Washington Filing Status:Married
The following information is taken from John Washington's 2017 Form W-2 Wage and Tax Statement:
Box 1 - Wages, tips, and other compensation80,000
Box 2 - Federal Withholding12,500
Box 17 - State Income Tax Withholding2,000
The following information is taken from Debra Washington's 2017 Form W-2 Wage and Tax Statement:
Box 1 - Wages, tips, and other compensation42,000
Box 2 - Federal Withholding3,500
Box 17 - State Income Tax Withholding750
John had interest income from a savings account from Everest Bank of $500.00
Debra had dividend income of $550 from Blue Co. stock.
John sold 1,000 shares of Apex Co. for $ 12,000 on June 7, 2017, which he purchased on April 1, 2017 for 25,000
The income and expenses of the rental real estate unit are as follows: Rental income $12,000, Property taxes $1,500, Depreciation $1,000, Repairs and Maintenance $750, Insurance $2,000
1. Debra had educator expenses in 2017 of $450.00
2. John had gambling winnings of $1,000.
3.John was the beneficiary of his mother's life insurance policy.
His mother died in 2017 and he received $50,000 under this policy.
4.Debra paid $700 in student loan interest.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started