I need help with individual tax return problem 6 for tax year 2015. I have part of it done on a spreadsheet but I need to do the appropriate forms to go along with it but I am stuck. Our instructor has indicated that the AGI is $70,265. I am still off and not sure why. I am attaching the file the problem and the Excel file. If possible I would like to get all the appropriate forms completed that go to this tax return problem.

Thanks

Paige Turner Form 1040 2015 Income: Explanation Salary Interest Qualified dividends Taxable refunds Business income or loss Capital gain or loss Rent, Royalty, P/S Other income Gross Income $ $ Deductions for AGI 1/2 SE tax Alimony 62,997 1,000 300 60 8,685 (1,435) 1,820 1,500 74,927 (614) (4,800) AGI See Details See details See details See details See details $ 69,513 (752) Deductions from AGI Itemized Deductions Itemized before limits Phaseout: - See details See details See details See details See details See details See details - 69,513 Personal & Dependency Exemptions Phaseout: 0% 0 - Taxable Income $ 69,513 Tax liability before credits and prepayments Credits Prepayments Withholding - federal Estimated payments - fed $ Taxes owed or (refund due) Forms: 1040 Sch A Sch C Sch D Sch E Sch SE 8949 $ - - - See details DETAILS: INCOME: Salary Wages 401k FSA Disability Pay Whole Life Insurance Health Club Dues 70,000 (7,000) (2,500) 1,200 397 900 62,997 Capital gains and losses Asset 500 Sh Cassill corp stock Nebraska bonds Sales Proceeds Adjusted Basis Gain/Loss Character 2,300 2,050 250 8,500 10,185 (1,685) Gain/Loss 10,800 12,235 (1,435) Netting: Short term Business Income/Loss Sales Revenue Less: COGS = Gross Profit Less: Advertising Telephone Real Estate License Rent Utilities Car Expense Tolls Parking Total XP Net Business income (loss) 28% 25% 15% (1,685) 250 - - - - - - $ 21,250 21,250 (2,200) (95) (130) (6,000) (600) (3,360) (45) (135) (12,565) 8,685 $ 8,685 92.35% 8,021 $ $ $ $ 995 233 1,227 614 $ 2,100 (1,435) $ (1,435) Self Employment tax calculation Net business income x 92.35% Net earnings from SE Earnings up to wage base x 12.4% SS rate Net earnings x 2.9% medicare Sum of SS and Medicare 1/2 SE tax Rental Income/Loss P/S Rental income $ 2,100 x months rent (x,xxx) + last month's rent ($xxx) Fair rental days= Date Date Personal days date date #VALUE! #VALUE! Less: Cleaning and maintenance Insurance expense Management fees Repairs Taxes Other Depreciation Total XP Net rental income (loss) S corporation income Schedule E (285) (495) (350) (300) (770) (1,080) (3,280) (1,180) 3,000 1,820 ITEMIZED DEDUCTIONS (detail calculations): Medical XP 0.01364*($90,000*88% allocated value to rental house) Total Tentative deduction 10% AGI floor Medical expenses in excess of floor 6,951 0 Taxes Total - - - Interest Total interest Charitable Contributions Total CCs Casualty & Theft Less Less Total Reimbursement (100) (6,951) 0 $100 floor 10% AGI floor Deductible Loss Miscellaneous itemized deductions Subject to 2% floor Employee business expenses CPA fees for LY Form 1040 Miscellaneous itemized deductions b/4 limitation 2% AGI limitation Deductible amount 1,390 - Not subject to 2% floor Gambling - Total Itemized Deductions before phaseout: - Personal & Dependency exemption TAX CALCULATION: Taxable income - Qualifying Divs & LTCG Ordinary Income Tax on OI HH Tax on Divs and LTCG NIIT Self employment tax Tax liability before credits child tax credit Total tax liability Alternative Minimum Tax: Taxable income + P&D exemptions - Itemized deductioni phase out Adjustments Tax exempt int private activity ID: Taxes ID: Interest ID: Miscellaneous s.t. 2% State tax refunds AMTI Exemption AMT tax base Tentative minimum tax Regular tax liability AMT NIIT Net investment income Interest Dividends Net gain on sale of prop Net passive income Total Modified AGI Modified AGI threshold Excess modified AGI NIIT tax base NIIT tax 4,000 $ 69,513 (300) 69,213 Business publications No phase out required as AGI