I would like this done for the 2015 tax year (this current year)

Carlos and Maria Gomez live in Lubbock, Texas. The Gomezes have two children: Luis (age 14) and Amanda (age 12). Both children qualify as federal income tax dependents of Carlos and Maria. The Gomezes provided the following information: Luis's social security number is 589-24-8432 Amanda's social security number is 599-74-8733 The Gomez's current mailing address is 543 West La Patera, Lubbock, Texas 79401 Carlos is a civil engineer. For the first two months of the year, he was employed by West Texas Engineering (WTE). However, he resigned his position with WTE to start his own engineering firm called Gomez Professional Engineers (GPE). GPE is conducted as a sole proprietorship with Carlos being the sole owner. GPE started business on January 1, 2014 and is located at 1515 West Industrial Road Lubbock, Texas 79401 (EIN 20-1616167). Maria works for herself as a part-time bookkeeper. Carlos provided the following W-2 from WTE. Carlos reported the following information for GPE's business activities (GPE uses the cash method of accounting): Revenues: Credit card receipts $352,000 Cash receipts 648,000 Subtotal revenue $1,000,000 Other revenue - Interest Income earned - on business bank account at Guaranty Bank (no 1099 was received) 1,250 Expenses: Advertising $5,450 Insurance-professional 15,750 Office building rent 62,000 Equipment leases 6,050 Travel 14,200 Meals and entertainment 2,975 Wages 498,725 Taxes and licenses 44,875 Employee health insurance 42,000 Employee benefit programs 14,500 Utilities 37,425 Office supplies 18,900 Legal and professional fees 15,550 Repairs and maintenance 10,000 Total Expenses $ 788,400 GPE purchased and placed in service the following fixed assets: Item Date Purchased Amount Laptop computers March 1 $20,500 Printers June 1 $6,500 Office furniture October 10 $19,000 GPE does not want to claim any bonus depreciation or Section 179 expensing on any of these assets. Carlos worked part-time on GPE business activities until he finished his employment with WTE early in the year. Carlos worked full-time on GPE business activities for the rest of the year. GPE filed Forms 1099 for payments made to contractors when required to do so. Carlos and Maria paid $22,000 for health insurance for his family (for the time he was working at GPE). This amount is not included in the totals for GPE above. Neither Carlos nor Maria had access to employer-provided health insurance during the year while they were paying the premiums for this policy. In need of cash, in February, Carlos withdrew $20,000 from his 401(k) account. He received the following Form 1099-R: In addition, Carlos has established a SEP-IRA retirement plan using his business earnings from GPE.. He would like to make the maximum contribution possible to this plan for the 2014 tax year. Assume that you will file this tax return by April 15 of 2015 and Carlos will be able to fund the SEP IRA with the full amount allowable by the date he files the return. Maria received the following Form 1099-Misc from her bookkeeping activities for her largest client: Maria received an additional $4,000 from clients who were not required to issue Maria a Form 1099. During the tax year, Maria paid the following business-related expenses: Paper $365 Toner $450 Meals $580 On March 1, 2014 Maria purchased a new laptop computer for her business at a cost of $1,850. Maria also purchased a new laser printer/photocopier combination at a cost of $840 on the same date. In April, Maria purchased computer software to use in her business for $400. Maria would like to recover the cost of these assets as soon as possible (using Sec. 179 depreciation). Maria owns a 2011 Acura. She started to use the Acura for her business on January 1, 2011. She drove 2,050 business miles during 2014 (she has documentation to verify). She drove the vehicle for a total of 10,000 miles during the year (7,950 personal miles). She also has access to another vehicle that she can use for personal purposes. Maria started her bookkeeping service in 2010 and she uses the cash method of accounting. She is the only person performing services in the business. She did not make any payments that would have required her to file a Form 1099. The Gomez family purchased (and moved into) their current residence at 543 West La Patera, Lubbock, Texas 79401 in late January of 2014. The La Patera residence is 2,000 square feet. The purchase price of the residence was $500,000 (building value was $350,000 and the lot value was $150,000). The mortgage on the purchase was $300,000. Expenses relating to the La Patera residence were as follows: Property taxes $10,750 Utilities $3,000 Insurance $2,000 In addition to the primary mortgage on the home, the Gomezes borrowed $150,000 on a home equity line of credit (\"HELOC\") against the La Patera home. They received the following Form 1098 relating to the line of credit: They used the funds from the line of credit borrowed funds to pay off personal debts on credit cards, and take a European vacation. Hint: this will affect ALT Min Tax. Maria utilized a room in the La Patera home for her bookkeeping business. The room was used exclusively on a regular basis as the principal place of business for Maria's business. Maria wants to maximize her home office deduction related to this use. The room she uses is 200 square feet. On September 15, 2014 Maria purchased a condominium in Lubbock that was valued at $160,000 with funds she received from an inheritance. For purposes of depreciation, the building is valued at $120,000 and the land is valued at $40,000. The condominium is located at 990 El Mar, Unit A, Lubbock Texas 79401. Maria first rented out the El Mar unit on October 1, 2014. The revenue and expenses from the rental unit from October through December is as follows: Rental revenue $3,600 HOA fee expense $300 Property taxes paid $225 Utilities expense $350 No Form(s) 1099 were required to be filed for this rental. The Gomezes also received the following Forms 1099 for the year: The Grand Junction City bond was issued in 2008. These were all specified private activity bonds. Hint: affects Alt Min tax. The Lubbock Texas School District bond was issued in 2011. The Gomezes did not own, control, or manage any foreign bank accounts nor were they a grantor or beneficiary of a foreign trust during the tax year. The Gomezes paid the following expenses during the year (in addition to the personal residence-related items listed above): Dentist (unreimbursed by insurance) $ 500 Doctors (unreimbursed by insurance) $1,750 Prescriptions (unreimbursed by insurance) $ 425 Vehicle property tax on Cadillac based upon value $ 950 Contribution to qualified charities $3,500 The Gomezes did not pay any state individual income taxes during the year. Other Information The Gomezes made federal estimated tax payments related to the 2014 tax year as follows during the current year: April 15, 2014 $11,000 June 15 $11,000 September 15 $11,000 January 15, 2015 $11,000 The Gomezes want to contribute to the Presidential Election Campaign. The Gomezes would like to receive a refund (if any) of tax they may have overpaid for the year. Their preferred method of receiving the refund is by check. Required: Please complete the required federal individual income tax return forms for Carlos and Maria Gomez for the 2014 tax year. Ignore the requirement to attach the Form(s) W-2 to the front page of the Form 1040. If required information is missing, use reasonable assumptions to fill in the gap and be sure to document for me those assumptions. Here are the tax forms required to complete: Pages 1 and 2 of Form 1040 and schedules A, B, C, D, E, SE and forms 2106, 3903, 4562, 6251, 8829, and any additional tax forms that you believe are necessary. Be sure to document any assumptions and calculations that you make