Jim Halpert is married to Pam and they have $3$ children, Adam $13,$ Hank $9,$ and Jonathan $5.$ Jim and Pam both work for Dunder Mifflin. They live at $1725$ Slough Avenue, Scranton PA $18501.$ Jim had wages of $95,000$ with $24,250$ of federal withholdings. Pam wages were $82,500$ with $20,700$ of federal withholdings. Pam has a painting and drawing business. Pam has two investment accounts Wells Fargo and UBS and Jim has one investment account at Charles Schwab. Jim and pam rent out their old house to their friend Andy Bernard for the whole year. During the year Pam and Jim had $24,000$ in medical expenses, state and local taxes $2,900,$ Real Estate taxes of $18,900,$ mortgage interest $48,000$ with a principal mortgage of $1$ million dollars and they purchased the house in $2022.4,500$ cash to charitable organizations. Jim had gambling winnings of $600.$ Wells FargoTaxable Interest $11,000$TE Interest $3,000$Ordinary Dividends $9,80025\%$ was qualifiedST Capital Losses $-14,000$LT Capital Gains $8,000$UBSOrdinary Dividends $24,00050\%$ was qualifiedST capital gains $8,700$LT capital gains $800$Charles SchwabTaxable interest $7,500$TE Interest $18,000$Ordinary Dividend $10,000100\%$ was QuailedPams Painting and Drawing LLCIncome $79,850$ExpensesAdvertising $900$Accounting fees $2,500$Supplies $19,850$Meals $3,000$Insurance $600$Bank Fees $300$Training$/$Seminars $1,700$ Rental Property located at $123$ Scott Way, Scranton PA $18501$Income $30,000$ExpensesCleaning & Maintenance $1,200$Accounting Fees $1,500$Real estate taxes $8,000$Mortgage interest $7,800$Repairs $800$Insurance $1,500$Depreciation $4,500$Utilities $2,400$ Please fill out all forms and schedules associated with the information above. Calculate QBI deduction; however, you do not need to worry about self$-$employment tax or different tax rates for qualified dividends. You need to calculate Adjusted Gross Income, determine if Jim and Pam will take the standard or itemized deduction. Calculate taxable income, total tax and whether they owe Tax or will be receiving a refund. If you have any questions, please reach out to your client $($ME$)$ to inquire additional information.