Joe and Jessie are married and have one dependent child, Lizzie. Lizzie is currently in college at State University, Joe works as a design engineer for a manufacturing firm while Jessie runs a craft business from their home. Jessie's craft business consists of making craft items for sale at craft shows that are held periodically at various locations. Jessie spends considerable time and effort on her craft business, and it has been consistently profitable over the years. Joo and Jessie own a home and pay interest on their home loan (balance of $220,000) and a personal loan to pay for Lizzie's college expenses (balance of $35,000). Neither Joe nor Jessie is blind or over age 65, and they plan to file as married joint. Assume that the employer portion of the self-employment tax on Jessie's income is 5844. Joe and Jessie have summarized the income and expenses they expect to report this year as follows: 5 130,400 18,530 1,780 742 946 Incon Joe's salary Jessie's craft sales Interest from certificate of deposit Interest from Treasury bond funds Interest fron municipal bond funds Expenditures Tederal income tax withheld from Joos wages State Income tax withheld from goo's wager Social Security tax withheld from Joe's Real estate taxes on residence Automobile Ileanace based on weight) State sales tax paid Home mortage interest Interest on osterdebt credit card Medical expenses (unreinburned) So's employee expenses (unreimbursed) Cost of Jessie's craft supplies Postage for mailing crafts Travel and lodging for craft show self-employment tax on Jessio' craft income College tuition paid for the Itecent on loans to pay the tuition L's room and board at college Cash contributions to the Red Cross $ 13,700 6,660 7.534 6.460 336 1.200 17.300 2.560 1.820 2,660 158 5.656 2.560 1.68 6.000 3.460 12.680 590 D 19 18 20 20 IN B R . Y C U o 0 P E S G G J H K V B N M V. A. Comond Required information 10 Morgon A though Orlanom od 10 Altres beds Gifts to 11 Gs by cather check it yourse any of of 250 ron.com Charity 12 Oferty heck if you made of 280 ronio You nach Format over 500 Cauty and then 13 Corowerowy fortsett 14 Alu Casualty and 15 werd het ons day cadered someone ha recorte Theft Losses morto e fatform. Senin Other -minion and mort Hemized Deductions 13 13 14 15 16 Total 17 And the word in de winters 16.400 1045 R 13 Itemized Deductions che Forward the intervento 1040 1040 BA THIS FORM IS A SIMULATION OF AN ORICULUS TAX FORM. IT IS NOT THE OFFICIAL FORMU DO NOT USE NGS FORM FOR TAK PUNON OR FOR ANY PURPOSE ON EDUCATIONALE 2011 19 18 20 20 IN B R . Y C U o 0 P E S G G J H K V B N M V. A. Comond Required information 10 Morgon A though Orlanom od 10 Altres beds Gifts to 11 Gs by cather check it yourse any of of 250 ron.com Charity 12 Oferty heck if you made of 280 ronio You nach Format over 500 Cauty and then 13 Corowerowy fortsett 14 Alu Casualty and 15 werd het ons day cadered someone ha recorte Theft Losses morto e fatform. Senin Other -minion and mort Hemized Deductions 13 13 14 15 16 Total 17 And the word in de winters 16.400 1045 R 13 Itemized Deductions che Forward the intervento 1040 1040 BA THIS FORM IS A SIMULATION OF AN ORICULUS TAX FORM. IT IS NOT THE OFFICIAL FORMU DO NOT USE NGS FORM FOR TAK PUNON OR FOR ANY PURPOSE ON EDUCATIONALE 2011
