I need some help doing this tax project for 2018 period. Thank you.

2018 TAX RETURN PROJECT

REQUIREMENT

You are a paid preparer of tax returns.

As paid preparer, you must sign and date the return and give your PTIN number

Your PTIN number is 666.

Prepare a 2018 individual tax return for Peter Paul Jones and Amy Aviana Jones

Compute their 2018 federal income tax liability.

Use the following forms

Form 1040,

Schedule A (Form 1040)

Schedule B (Form 1040) and

Form 8283.

This is information relates to Peter and Amy Jones for 2018. Peter (age 39) and Amy

(age 37) are married and have 3 children, Olivia (a girl), Jacob and James (boys).

They live at 3771 Apollo Road, West Linn OR 97068.

Peter is a lawyer who works for a law firm. Amy works part-time in a genetic research

lab.

The Jones Social Security numbers and ages are as follows:

Peter

111-11-1111

39

Amy

222-22-2222

37

Olivia

333-33-3333

6

Jacob

444-44-4444

4

James

555-55-5555

2

Receipts

Peters salary

$70,000

Amys salary

32,000

Municipal bond interest

2,400

Interest on C.D.s at Universal Savings 3,100

Dividend on GM stock

1,600 (a qualified dividend)

1

Expenditures

Eye exam and eyeglasses for Olivia

600

Orthodontic work to correct Jacobs congenital defect

2,500

Medical insurance premiums (paid on an after-tax basis)

1,800

State withholding for income tax

7,200

Federal withholding for income tax

7,800

State income taxes paid with last years return

500

Property tax on home

1,100

Ad valorem Property tax on automobile

300

Home mortgage interest

9,700

Interest on credit cards

200

Cash contribution to church

3,900

Charitable donation of stock

On September 17, Peter and May donated 10 shares of Beta Trade Inc. stock to

Clackamas Community College. Beta Trader, Inc. is publicly traded. Peter and Amy

had purchased the 10 shares on November 7, 2003 for $300. On the date of donation,

the 10 shares had a fair market value of $700.

Miscellaneous

The taxpayers did not make any contributions to an IRA.

The taxpayers did not incur any child dependency costs in order for Amy to work.

The taxpayers did not have signature authority over a foreign bank account.

The taxpayers did not receive a distribution from a foreign trust.