Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

Jamie and Cecilia Reyes are husband and wife and file a joint return. They live at 5677 Apple Cove Road, Boise, ID 83722. Jamies social

Jamie and Cecilia Reyes are husband and wife and file a joint return. They live at 5677 Apple Cove Road, Boise, ID 83722. Jamies social security number is 412-34-5670 (date of birth 06/15/1969) and Cecilias is 412-34-5671 (date of birth 04/12/1971). They provide more than half of the support of their daughter, Carmen (age 23), social security number 412-34-5672 (date of birth 09/01/1995), who is a full-time veterinarian school student. Carmen received a $3,200 scholarship covering her room and board at college. She was not required to perform any services to receive the scholarship. Jamie and Cecilia furnish all of the support of Maria (Jamies grandmother), social security number 412-34-5673 (date of birth 11/06/1948), who is age 70 and lives in a nursing home. They also have a son, Gustavo (age 4), social security number 412-34-5674 (date of birth 03/14/2014). The Reyes and all of their dependents had qualifying health care coverage at all times during the tax year.

Jamie's W-2 contained the following information:

Federal Wages (box 1) = $ 145,625.00
Federal W/H (box 2) = $ 16,112.25
Social Security wages (box 3) = $ 128,400.00
Social Security W/H (box 4) = $ 7,960.80
Medicare Wages (box 5) = $ 145,625.00
Medicare W/H (box 6) = $ 2,111.56
State Wages (box 16) = $ 145,625.00
State W/H (box 17) = $ 5,435.00

Other receipts for the couple were as follows:

Dividends (all qualified dividends) $ 2,500
Interest income:
Union Bank $ 220
State of Idahointerest on tax refund 22
City of Boise school bonds 1,250
Interest from U.S. savings bonds 410
(not used for educational purposes)
2017 federal income tax refund received in 2018 2,007
2017 state income tax refund received in 2018 218
Idaho lottery winnings 1,100
Casino slot machine winnings 2,250
Gambling losses at casino 6,500

Other information that the Reyeses provided for the 2018 tax year:

Mortgage interest on personal residence $ 11,081
Loan interest on fully equipped motor home 3,010
Doctors fee for a face-lift for Mrs. Reyes 8,800
Dentists fee for a new dental bridge for Mr. Reyes 3,500
Vitamins for the entire family 110
Real estate property taxes paid $ 5,025
DMV fees on motor home (tax portion) 1,044
DMV fees on family autos (tax portion) 436
Doctors bills for grandmother 2,960
Nursing home for grandmother 10,200
Wheelchair for grandmother 1,030
Property taxes on boat 134
Interest on personal credit card 550
Interest on loan to buy public school district bonds 270
Cash contributions to church (all the contributions were in cash and none more than $250 at any one time) 6,100
Cash contribution to man at bottom of freeway off-ramp 25
Contribution of furniture to Goodwillcost basis 4,000
Contribution of same furniture listed above to Goodwillfair market value 410
Tax return preparation fee for 2017 taxes 625

(A) Form 1040, Schedule A, and Schedule B for the completion of the Reyes's tax return (2018 forms)?

Please attach the forms please, is the easiest way!!

THANKS!!

They do not want to contribute to the presidential election campaign and do not want anyone to be a third-party designee. For any missing information, make reasonable assumptions.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit Firm Size And Audit Quality In Nigeria An Empirical Review

Authors: LAP Lambert

1st Edition

6139825466, 978-6139825462

More Books

Students explore these related Accounting questions