I need help with Cumulative problem (chapters 1-12) Pg. 12-36 of Federal Income Taxation (2017 edition). Questions requires forms 1040, schedule A, schedule D, Schedule B, Schedule E, schedule SE, schedule C, and 8829 to be completed.
Essentials of Federal income Taxation CUMULATIVE PROBLEM (CHAPTERS 1-12) Jerry R. (age 52, SSN 367-83-9403) and Janet K. (age 48, SSN 361- renurn. They reside at 410 E. Vernon Avenue, Carlock. Ilinois 61725-1287. Use t 12-36 file a joint 12 samples 10-12 in both elect to have $3 to go to 73-4098)A ion to prepare the Appses' tax return. Use the approach shown in 11 to edection campaign fund and file thei houschold includes David A. Apps, their 12-year-old son (Ss r return on April 10, 2017 to compute the Appses tax liability q1101.03). They both elect the N 965-26-4381), and Janet and Jerry provide over half of his own; Edwin received s4 Edwin R. Apps (SSN 157-43-2587) Jerry's 78 the support of both David and Edwin. David has no income of in nontaxable social security benefits during the year Jerry works as a carpenter. The information on his Form w.2 is shown below. Jerry is an for his family that complies with the ACA ma te in his employer's 401(k) plan. $52,000 3,978 4,970 2,490 Taxable wages Social security and Medicare tax withheld Federal income tax withheld State income tax withheld Janet owns and operates J&J Nerworking. The principal business code is 454390. no employer ID number. She uses the accrual basis in her business and the cost has is in her business and the cost method for valuing the inventory: No changes have been made in the inventory system. Janet operated he business for all 12 months and has an office in her home that she uses exclusively and regularir for business. Janet materially participates in the business. Information relating to her business operation is as follows. Gross receipts Returns and allowances Beginning inventory Purchases Ending inventory S60,950 900 2,700 28,625 3,825 $ 400 10,000 Office expense Travel Bank service es Contribution to SIMPLE plan Commissions ies 1,035 3,200 Meals and entertainment 490 Depreciation on equipment Business seminars Other business taxes placed in service in 2015 1,700 220 650 1,000 560 35 Dues and publications Insurance (business) Miscellaneous expenses Postage expense In addition to the above expenses, Janet uses her personal car in her business. She keeps good records of her business mileage and uses the standard mileage method. The car was first used in the business on May 1, 2013. During 2016 Janet drove 7,631 miles, of which 1,250 were driven for business. The rest were personal miles. Essentials of Federal income Taxation CUMULATIVE PROBLEM (CHAPTERS 1-12) Jerry R. (age 52, SSN 367-83-9403) and Janet K. (age 48, SSN 361- renurn. They reside at 410 E. Vernon Avenue, Carlock. Ilinois 61725-1287. Use t 12-36 file a joint 12 samples 10-12 in both elect to have $3 to go to 73-4098)A ion to prepare the Appses' tax return. Use the approach shown in 11 to edection campaign fund and file thei houschold includes David A. Apps, their 12-year-old son (Ss r return on April 10, 2017 to compute the Appses tax liability q1101.03). They both elect the N 965-26-4381), and Janet and Jerry provide over half of his own; Edwin received s4 Edwin R. Apps (SSN 157-43-2587) Jerry's 78 the support of both David and Edwin. David has no income of in nontaxable social security benefits during the year Jerry works as a carpenter. The information on his Form w.2 is shown below. Jerry is an for his family that complies with the ACA ma te in his employer's 401(k) plan. $52,000 3,978 4,970 2,490 Taxable wages Social security and Medicare tax withheld Federal income tax withheld State income tax withheld Janet owns and operates J&J Nerworking. The principal business code is 454390. no employer ID number. She uses the accrual basis in her business and the cost has is in her business and the cost method for valuing the inventory: No changes have been made in the inventory system. Janet operated he business for all 12 months and has an office in her home that she uses exclusively and regularir for business. Janet materially participates in the business. Information relating to her business operation is as follows. Gross receipts Returns and allowances Beginning inventory Purchases Ending inventory S60,950 900 2,700 28,625 3,825 $ 400 10,000 Office expense Travel Bank service es Contribution to SIMPLE plan Commissions ies 1,035 3,200 Meals and entertainment 490 Depreciation on equipment Business seminars Other business taxes placed in service in 2015 1,700 220 650 1,000 560 35 Dues and publications Insurance (business) Miscellaneous expenses Postage expense In addition to the above expenses, Janet uses her personal car in her business. She keeps good records of her business mileage and uses the standard mileage method. The car was first used in the business on May 1, 2013. During 2016 Janet drove 7,631 miles, of which 1,250 were driven for business. The rest were personal miles
