Instructions Form 1040 Schedule 1 Schedule C Instructions Income: Comprehensive Problem 3-1 Ken (birthdate July 1, 1990) and Amy (birthdate July 4, 1992) Both have brought you the following information regarding their incom and withholding for the year. They are unsure which of these items must be used to calculate taxable income. Ken's salary (salesman) Amy's wages (part-time nurse) Insurance reimbursement for repairs from an auto accident Gift from Uncle George Interest income from Lodge State Bank Federal income taxes withheld: From Ken's salary From Amy's wages Schedule D Sales of books Expenses $38,900 17,600 500 2,000 910 2,800 650 Form 8949 Tax Table Amy owns and operates a computer bookstore named "The Disk Drive". The store is located at 2000 Broadway Street, Menomonie, WI During 2021, Amy had the following income and expenses: $321,400

Comprehensive Problem 3-1 Ken (birthdate July 1, 1990) and Amy (birthdate July 4, 1992) Both have brought you the following information regarding their incon and withholding for the year. They are unsure which of these items must be used to calculate taxable income. Amy owns and operates a computer bookstore named "The Disk Drive". The store is located at 2000 Broadway Street, Menomonie, W1 During 2021, Amy had the following income and expenses: Comprehensive problem 31 informithdate July 1,1990 ) and Amy (birthdate July 4, 1992) Both have brought you the following cury street Menomonmprer oookstore named "The Disk Drive". The store is located at 2000 - meny street, Menomonie. Wr 54764 numimamed The Disk. Drive". The store is located at 2000 : Tans. Amy treats inventory as non-incidental materials and supplies. This year, Amy loaned a friend $10,000 so that he could make an investment. Instead of making the investment, the friend lost all the money gambling and left for parts unknown. Amy has no hope of ever collecting on this bad debt. 600 at a casino birthday party for one of his friends. Ken, who ordinarily never gambles, won $10,600 at a casino birthday party for one of 124-80-8050) and The Booths provide the sole support for Ken's parents, Rod (Social Security number Mary (Social Security number 489-37-6673) Booth, who live in their own home. Ken and Am- 3456 2345 Wilson Avenue, Menomonie, WI, 54751, and their Social Security numbers are 343 for each (Ken) and 123-45-7890 (Amy). Ken and Amy can claim a $500 other dependent credit for each parent. Ken and Amy received a $5,600 EIP in 2021. Required: Complete the Booth's Form 1040 and the related schedules and forms provided. Assume the taxpayers had full-year health coverage and neither taxpayer wants to contribute to the presidential election campaign