I need help!!!

This is the final part of a six part problem that allows you to prepare the 2014 tax return for Laurie and Lynn Norris. As with the previous parts, this part of the problem will ask you to prepare a portion of their tax return. You should then complete the Norrises' tax return for 2014. The following information is provided for preparing their 2014 tax return:

1. Recall from Chapter 3 that Lynn and Laurie are married and have two children, Josh (15 years old) and Julie (19 years old). Julie is a sophomore at Baynard University and they pay the following education expenses on behalf of Julie:

Tuition and fees $4,300

Textbooks475

Room and board2,800

2. They make timely federal quarterly estimated tax payments of $2,000.

3. They contribute stock with a fair market value of $5,000 to Alamoso Tech. The stock was acquired in 2004 at a cost of $1,400.

4. Their gambling winnings for the year were $1,000 while their losses were $1,750.

5. In 2013, they refinanced their home and incurred $2,250 in points to secure a 15 year mortgage.

6. They receive $2,000 in reimbursements from their medical plan.

7. In addition they provide you with the following expenses:

Automobile insurance $2,950

Homeowners insurance1,140

Life insurance 870

Disability insurance465

Health insurance premiums1,650

Country club dues2,100

Health club dues500

Hospital1,400

Doctor675

Chiropractor650

Dentists1,930

Prescription drugs340

Over-the-counter drugs 140

State taxes withheld2,775

Property taxes (ad valorem)190

Mortgage interest 7,000

Real estate taxes2,200

Charitable contributions (cash)3,120

Charitable contribution (clothes at FMV) 100

Investment advice 320

Subscriptions to investment journals240

Dues to professional organizations415

Attorney fee for tax advice on dispute with IRS 585

Safe-deposit box 45

Tax return preparation460

Required: Based on the information provided above, complete Form 1040 Schedule A, Form 8283, and Form 8863 and finish the 2014 tax return for Laurie and Lynn Norris.

Can you provide me calculation too, please! Thank you!!!

SCHEDULE A (Form 1040) OMB No. 1545-0074 Itemized Deductions Department of the Treasury Internal Revenue Service (99) Information about Schedule A and its separate instructions is at www.irs.gov/schedulea. Attach to Form 1040. Name(s) shown on Form 1040 Medical and Dental Expenses Taxes You Paid Interest You Paid Note: Your mortgage interest deduction may be limited (see instructions). Caution: Do not include expenses reimbursed or paid by others. 1 Medical and dental expenses (see instructions) . . . . . 1 2 Enter amount from Form 1040, line 38 2 3 Multiply line 2 by 10% (.10). But if either you or your spouse was 3 born before January 2, 1951, multiply line 2 by 7.5% (.075) instead 4 Subtract line 3 from line 1. If line 3 is more than line 1, enter -0- . . 5 State and local (check only one box): a Income taxes, or . . . . . . . . . . . 5 b General sales taxes 6 Real estate taxes (see instructions) . . . . . . . . . 6 7 Personal property taxes . . . . . . . . . . . . . 7 8 Other taxes. List type and amount 8 9 Add lines 5 through 8 . . . . . . . . . . . . . . . . 10 Home mortgage interest and points reported to you on Form 1098 10 11 Home mortgage interest not reported to you on Form 1098. If paid to the person from whom you bought the home, see instructions and show that person's name, identifying no., and address . . . . . . 4 . . . . . . 9 . . . . . . 15 . . . . . . 19 . . . . . . 20 . . . . . 27 } 11 12 Points not reported to you on Form 1098. See instructions for special rules . . . . . . . . . . . . . . . . . 12 13 Mortgage insurance premiums (see instructions) . . . . . 13 14 Investment interest. Attach Form 4952 if required. (See instructions.) 14 15 Add lines 10 through 14 . . . . . . . . . . . . . . . Gifts to 16 Gifts by cash or check. If you made any gift of $250 or more, see instructions . . . . . . . . . . . . . . . . 16 Charity 17 Other than by cash or check. If any gift of $250 or more, see If you made a gift and got a instructions. You must attach Form 8283 if over $500 . . . 17 benefit for it, 18 Carryover from prior year . . . . . . . . . . . . 18 see instructions. 19 Add lines 16 through 18 . . . . . . . . . . . . . . . Casualty and Theft Losses 2015 Attachment Sequence No. 07 Your social security number 20 Casualty or theft loss(es). Attach Form 4684. (See instructions.) . . Job Expenses 21 Unreimbursed employee expensesjob travel, union dues, and Certain job education, etc. Attach Form 2106 or 2106-EZ if required. Miscellaneous 21 (See instructions.) Deductions 22 Tax preparation fees . . . . . . . . . . . . . 22 23 Other expensesinvestment, safe deposit box, etc. List type and amount Other Miscellaneous Deductions 24 25 26 27 28 23 Add lines 21 through 23 . . . . . . . . . . . . 24 Enter amount from Form 1040, line 38 25 Multiply line 25 by 2% (.02) . . . . . . . . . . . 26 Subtract line 26 from line 24. If line 26 is more than line 24, enter -0- . Otherfrom list in instructions. List type and amount 28 29 Is Form 1040, line 38, over $154,950? Total Itemized No. Your deduction is not limited. Add the amounts in the far right column for lines 4 through 28. Also, enter this amount on Form 1040, line 40. Deductions } . Yes. Your deduction may be limited. See the Itemized Deductions Worksheet in the instructions to figure the amount to enter. 30 If you elect to itemize deductions even though they are less than your standard deduction, check here . . . . . . . . . . . . . . . . . . . For Paperwork Reduction Act Notice, see Form 1040 instructions. Cat. No. 17145C . 29 Schedule A (Form 1040) 2015 8283 Noncash Charitable Contributions Form Attach to your tax return if you claimed a total deduction (Rev. December 2014) of over $500 for all contributed property. Department of the Treasury Information about Form 8283 and its separate instructions is at www.irs.gov/form8283. Internal Revenue Service Name(s) shown on your income tax return OMB No. 1545-0908 Attachment Sequence No. 155 Identifying number Note. Figure the amount of your contribution deduction before completing this form. See your tax return instructions. Section A. Donated Property of $5,000 or Less and Publicly Traded SecuritiesList in this section only items (or groups of similar items) for which you claimed a deduction of $5,000 or less. Also list publicly traded securities even if the deduction is more than $5,000 (see instructions). Part I Information on Donated PropertyIf you need more space, attach a statement. (b) If donated property is a vehicle (see instructions), check the box. Also enter the vehicle identification number (unless Form 1098-C is attached). (a) Name and address of the donee organization 1 (c) Description of donated property (For a vehicle, enter the year, make, model, and mileage. For securities, enter the company name and the number of shares.) A B C D E Note. If the amount you claimed as a deduction for an item is $500 or less, you do not have to complete columns (e), (f), and (g). (d) Date of the contribution (e) Date acquired by donor (mo., yr.) (f) How acquired by donor (g) Donor's cost or adjusted basis (h) Fair market value (see instructions) (i) Method used to determine the fair market value A B C D E Part II Partial Interests and Restricted Use PropertyComplete lines 2a through 2e if you gave less than an entire interest in a property listed in Part I. Complete lines 3a through 3c if conditions were placed on a contribution listed in Part I; also attach the required statement (see instructions). 2a Enter the letter from Part I that identifies the property for which you gave less than an entire interest If Part II applies to more than one property, attach a separate statement. b Total amount claimed as a deduction for the property listed in Part I: (1) For this tax year (2) For any prior tax years c Name and address of each organization to which any such contribution was made in a prior year (complete only if different from the donee organization above): Name of charitable organization (donee) Address (number, street, and room or suite no.) City or town, state, and ZIP code d For tangible property, enter the place where the property is located or kept e Name of any person, other than the donee organization, having actual possession of the property 3a Is there a restriction, either temporary or permanent, on the donee's right to use or dispose of the donated property? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No b Did you give to anyone (other than the donee organization or another organization participating with the donee organization in cooperative fundraising) the right to the income from the donated property or to the possession of the property, including the right to vote donated securities, to acquire the property by purchase or otherwise, or to designate the person having such income, possession, or right to acquire? . . . . . . . . . . . . . c Is there a restriction limiting the donated property for a particular use? . . . . . . . . . . . . . . For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 62299J Form 8283 (Rev. 12-2014) Page 2 Form 8283 (Rev. 12-2014) Identifying number Name(s) shown on your income tax return Section B. Donated Property Over $5,000 (Except Publicly Traded Securities)Complete this section for one item (or one group of Part I 4 similar items) for which you claimed a deduction of more than $5,000 per item or group (except contributions of publicly traded securities reported in Section A). Provide a separate form for each property donated unless it is part of a group of similar items. An appraisal is generally required for property listed in Section B. See instructions. Information on Donated PropertyTo be completed by the taxpayer and/or the appraiser. Check the box that describes the type of property donated: a b c Art* (contribution of $20,000 or more) Qualified Conservation Contribution Equipment d e f g h i Art* (contribution of less than $20,000) Other Real Estate Securities j Collectibles** Intellectual Property Vehicles Other *Art includes paintings, sculptures, watercolors, prints, drawings, ceramics, antiques, decorative arts, textiles, carpets, silver, rare manuscripts, historical memorabilia, and other similar objects. **Collectibles include coins, stamps, books, gems, jewelry, sports memorabilia, dolls, etc., but not art as defined above. Note. In certain cases, you must attach a qualified appraisal of the property. See instructions. (a) Description of donated property (if you need more space, attach a separate statement) 5 (b) If tangible property was donated, give a brief summary of the overall physical condition of the property at the time of the gift (c) Appraised fair market value A B C D (d) Date acquired by donor (mo., yr.) (e) How acquired by donor (f) Donor's cost or adjusted basis See instructions (g) For bargain sales, enter amount received (h) Amount claimed as a deduction (i) Date of contribution A B C D Part II Taxpayer (Donor) StatementList each item included in Part I above that the appraisal identifies as having a value of $500 or less. See instructions. I declare that the following item(s) included in Part I above has to the best of my knowledge and belief an appraised value of not more than $500 (per item). Enter identifying letter from Part I and describe the specific item. See instructions. Signature of taxpayer (donor) Part III Date Declaration of Appraiser I declare that I am not the donor, the donee, a party to the transaction in which the donor acquired the property, employed by, or related to any of the foregoing persons, or married to any person who is related to any of the foregoing persons. And, if regularly used by the donor, donee, or party to the transaction, I performed the majority of my appraisals during my tax year for other persons. Also, I declare that I perform appraisals on a regular basis; and that because of my qualifications as described in the appraisal, I am qualified to make appraisals of the type of property being valued. I certify that the appraisal fees were not based on a percentage of the appraised property value. Furthermore, I understand that a false or fraudulent overstatement of the property value as described in the qualified appraisal or this Form 8283 may subject me to the penalty under section 6701(a) (aiding and abetting the understatement of tax liability). In addition, I understand that I may be subject to a penalty under section 6695A if I know, or reasonably should know, that my appraisal is to be used in connection with a return or claim for refund and a substantial or gross valuation misstatement results from my appraisal. I affirm that I have not been barred from presenting evidence or testimony by the Office of Professional Responsibility. Sign Here Signature Business address (including room or suite no.) Title Date Identifying number City or town, state, and ZIP code Part IV Donee AcknowledgmentTo be completed by the charitable organization. This charitable organization acknowledges that it is a qualified organization under section 170(c) and that it received the donated property as described in Section B, Part I, above on the following date Furthermore, this organization affirms that in the event it sells, exchanges, or otherwise disposes of the property described in Section B, Part I (or any portion thereof) within 3 years after the date of receipt, it will file Form 8282, Donee Information Return, with the IRS and give the donor a copy of that form. This acknowledgment does not represent agreement with the claimed fair market value. Does the organization intend to use the property for an unrelated use? . . . . . . . . . . . Name of charitable organization (donee) Employer identification number Address (number, street, and room or suite no.) City or town, state, and ZIP code Authorized signature Title . . . . Yes No Date Form 8283 (Rev. 12-2014) Form 8863 Department of the Treasury Internal Revenue Service (99) Education Credits (American Opportunity and Lifetime Learning Credits) OMB No. 1545-0074 CAUTION Part I Complete a separate Part III on page 2 for each student for whom you are claiming either credit before you complete Parts I and II. Refundable American Opportunity Credit 1 2 After completing Part III for each student, enter the total of all amounts from all Parts III, line 30 Enter: $180,000 if married filing jointly; $90,000 if single, head of household, or qualifying widow(er) . . . . . . . . . . . . . 2 3 Enter the amount from Form 1040, line 38, or Form 1040A, line 22. If you are filing Form 2555, 2555-EZ, or 4563, or you are excluding income from Puerto Rico, see Pub. 970 for the amount to enter . . . . . . . . 3 Subtract line 3 from line 2. If zero or less, stop; you cannot take any education credit . . . . . . . . . . . . . . . . . . . 4 Enter: $20,000 if married filing jointly; $10,000 if single, head of household, or qualifying widow(er) . . . . . . . . . . . . . . . . . 5 If line 4 is: Equal to or more than line 5, enter 1.000 on line 6 . . . . . . . . . . . . Less than line 5, divide line 4 by line 5. Enter the result as a decimal (rounded to at least three places) . . . . . . . . . . . . . . . . . . . . . 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 } . . 1 . . . Multiply line 1 by line 6. Caution: If you were under age 24 at the end of the year and meet the conditions described in the instructions, you cannot take the refundable American opportunity credit; skip line 8, enter the amount from line 7 on line 9, and check this box . . . . Refundable American opportunity credit. Multiply line 7 by 40% (.40). Enter the amount here and on Form 1040, line 68, or Form 1040A, line 44. Then go to line 9 below. . . . . . . . . . Part II Attachment Sequence No. 50 Your social security number Name(s) shown on return ! 2015 Attach to Form 1040 or Form 1040A. Information about Form 8863 and its separate instructions is at www.irs.gov/form8863. 6 . 7 8 Nonrefundable Education Credits Subtract line 8 from line 7. Enter here and on line 2 of the Credit Limit Worksheet (see instructions) After completing Part III for each student, enter the total of all amounts from all Parts III, line 31. If zero, skip lines 11 through 17, enter -0- on line 18, and go to line 19 . . . . . . . . . . Enter the smaller of line 10 or $10,000 . . . . . . . . . . . . . . . . . . . . Multiply line 11 by 20% (.20) . . . . . . . . . . . . . . . . . . . . . . . Enter: $130,000 if married filing jointly; $65,000 if single, head of household, or qualifying widow(er) . . . . . . . . . . . . . 13 Enter the amount from Form 1040, line 38, or Form 1040A, line 22. If you are filing Form 2555, 2555-EZ, or 4563, or you are excluding income from Puerto Rico, see Pub. 970 for the amount to enter . . . . . . . . 14 Subtract line 14 from line 13. If zero or less, skip lines 16 and 17, enter -0on line 18, and go to line 19 . . . . . . . . . . . . . . . 15 Enter: $20,000 if married filing jointly; $10,000 if single, head of household, or qualifying widow(er) . . . . . . . . . . . . . . . . . 16 If line 15 is: Equal to or more than line 16, enter 1.000 on line 17 and go to line 18 Less than line 16, divide line 15 by line 16. Enter the result as a decimal (rounded to at least three places) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Multiply line 12 by line 17. Enter here and on line 1 of the Credit Limit Worksheet (see instructions) Nonrefundable education credits. Enter the amount from line 7 of the Credit Limit Worksheet (see instructions) here and on Form 1040, line 50, or Form 1040A, line 33 . . . . . . . . . . For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 25379M 9 10 11 12 17 18 19 . Form 8863 (2015) Page 2 Form 8863 (2015) Your social security number Name(s) shown on return ! CAUTION Part III Complete Part III for each student for whom you are claiming either the American opportunity credit or lifetime learning credit. Use additional copies of page 2 as needed for each student. Student and Educational Institution Information See instructions. 20 Student name (as shown on page 1 of your tax return) 22 21 Student social security number (as shown on page 1 of your tax return) Educational institution information (see instructions) a. Name of first educational institution b. Name of second educational institution (if any) (1) Address. Number and street (or P.O. box). City, town or post office, state, and ZIP code. If a foreign address, see instructions. (1) Address. Number and street (or P.O. box). City, town or post office, state, and ZIP code. If a foreign address, see instructions. (2) Did the student receive Form 1098-T (2) Did the student receive Form 1098-T Yes No Yes No from this institution for 2015? from this institution for 2015? (3) Did the student receive Form 1098-T (3) Did the student receive Form 1098-T Yes No Yes No from this institution for 2014 with Box from this institution for 2014 with Box 2 2 filled in and Box 7 checked? filled in and Box 7 checked? If you checked \"No\" in both (2) and (3), skip (4). If you checked \"No\" in both (2) and (3), skip (4). (4) If you checked \"Yes\" in (2) or (3), enter the institution's (4) If you checked \"Yes\" in (2) or (3), enter the institution's federal identification number (from Form 1098-T). federal identification number (from Form 1098-T). - - 23 24 25 26 Has the Hope Scholarship Credit or American opportunity credit been claimed for this student for any 4 tax years before 2015? Yes Stop! Go to line 31 for this student. Was the student enrolled at least half-time for at least one academic period that began or is treated as having begun in 2015 at an eligible educational institution in a program leading towards a postsecondary degree, certificate, or other recognized postsecondary educational credential? (see instructions) Yes Go to line 25. No Go to line 24. No Stop! Go to line 31 for this student. Did the student complete the first 4 years of postsecondary education before 2015 (see instructions)? Yes Stop! Go to line 31 for this student. No Go to line 26. Was the student convicted, before the end of 2015, of a felony for possession or distribution of a controlled substance? Yes Stop! Go to line 31 for this student. No Complete lines 27 through 30 for this student. ! CAUTION You cannot take the American opportunity credit and the lifetime learning credit for the same student in the same year. If you complete lines 27 through 30 for this student, do not complete line 31. American Opportunity Credit 27 28 29 30 Adjusted qualified education expenses (see instructions). Do not enter more than $4,000 . . . . Subtract $2,000 from line 27. If zero or less, enter -0- . . . . . . . . . . . . . . . . . Multiply line 28 by 25% (.25) . . . . . . . . . . . . . . . . . . . . . . . . . If line 28 is zero, enter the amount from line 27. Otherwise, add $2,000 to the amount on line 29 and enter the result. Skip line 31. Include the total of all amounts from all Parts III, line 30, on Part I, line 1 . 27 28 29 30 Lifetime Learning Credit 31 Adjusted qualified education expenses (see instructions). Include the total of all amounts from all Parts III, line 31, on Part II, line 10 . . . . . . . . . . . . . . . . . . . . . . . . . 31 Form 8863 (2015)