Just need assistance with completing the project. Can you help with the completion of the relevant forms?

ACT 330, Fall, 2016 Tax Return Project George and Adria Worthington reside at 2357 Sweet Maple Ln, Fort Collins CO (80524) with their fourteen-year-old daughter Olivia (333-44-5555) and eleven-year-old daughter Lily (55543-1212). George's social security number is 777-22-1234 and Adria's is 987-65-4321. George is a self-employed plumber doing business as \"George the Plumber\" and Adria is a web developer working for a local IT firm. Her W-2 is attached. Her employer does not offer medical fringe benefits or a pension plan. Adria is also an owner in a retail business in which she does not materially participate. Her K-1 is also attached. The Worthingtons had interest income from Key Bank of $505. They own shares in Vault Mutual Fund, which reported to them $1,530 of ordinary qualified dividends, $1,813 of municipal bond interest, and $1,562 of long-term capital gain distributions. They have a long-term capital loss carryover from 2014 of $512. The Worthingtons have a brokerage account with Charlie Shwob & Co. Their 1099 from Shwob reported qualified dividends as follows: HGH Corp., $557; AAA Corp., $1,143; BP Corp., $877. The 1099 also reported two stock sales in 2015: PUP Corp, $3,230 on February 5; FAI Corp., $3,012 on November 12. Shwob did not report any information about the purchase of these shares, but the Worthingtons' records show that the PUP stock was acquired for $3,428 on October 20, 2010, and the FAI stock for $519 on March 15, 2005. The Worthingtons have two houses: one on Sweet Maple Lane in which they reside, and one at 555 Buffs Court in Fort Collins Colorado (80521), which they have rented out since 1/1/2012 and actively manage. Rent income was 20,900, for the year. Information about the two houses: Sweet Maple Ln. Cost( Land) Cost(Building) Mortgage Interest Property Tax Insurance Repairs & Maintenance Utilities 80,000 350,000 5,867 2,593 965 3,570 4,376 Buffs Ct. 50,000 200,000 3,800 1,838 864 6,896 1,815 Personal expenses for the Worthingtons include: personal property tax, $1427; cash charitable donations, $3,590; Adria's unreimbursed work expenses, $4,932; medical expenses, $25,943. Their estimated tax payments paid during 2015 were: federal, $2,000; state, $1,850. In 2015, they paid their state income tax balance due for 2014 of $1,555. George paid $10,800 for medical insurance for his family during the year. He contributed $5,500 to his Roth IRA, and Adria contributed $5,500 to her traditional IRA. George had gross income from his business of $92,500. His expenses include: Advertising $ 2,000 Equipment rental 3,734 Liability insurance 789 Legal and acct fees 1,000 Licenses and permits 650 Supplies 18,765 Telephone 1,800 Miscellaneous 600 During the year he bought tools for $4,756. George put 46,502 miles on his business van (1/1/2013) during the year, for which he kept adequate records. He does not use the van for personal purposes. He operates out of an office in his home, which occupies 283 of the 2,970 square feet of the residence. George uses the cash method of accounting to maintain his business records, and does not have any inventory. He does not have any depreciable personalty because he always uses Sec. 179. Required: Prepare the 2015 federal income tax return for George and Adria Worthington, including any necessary schedules, including any necessary IRS schedules, as well as Forms 2106-EZ, 4562, 8582, 8829, and 8949. Include Schedule B even if not required to do so. You may assume that the taxpayer has adequate records for all items, as required by IRS. You may work by yourself, or cooperatively with one or two other persons. In the latter case, turn in one solution with all names. A handwritten hard copy should be turned in to the professor, or TA, by 9:00am on Tuesday, November 15th. Some practical notes: 1. Put the names of the student(s) preparing the return in the upper right-hand corner of the first page (Form 1040). Do not sign as taxpayer or preparer. Be sure the rest of the forms/schedules are in IRS sequence number, with any other schedules at the end. Those without a number should be placed at the end. See Form 1040 instructions on how to assemble the return. 2. You must also attach a schedule showing how you computed the income tax liability. You may use either the worksheet in the Form 1040 instructions, or a hand-written schedule. 3. Do not enter zero on a line unless instructed to do so or implied by a calculation. (leave blank instead). 4. Round all amounts to the nearest dollar. 5. Returns are to be prepared by hand, not using software. 6. You will need to refer to the instructions for Form 1040 and the related schedules, especially Schedule D. IRS Publication 17 contains general information on preparing individual returns. a Employee's social security number 987-65-4321 OMB No. 1545-0008 Safe, accurate, FAST! Use Visit the IRS website at www.irs.gov/efile b Employer identification number (EIN) 1 Wages, tips, other compensation 2 Federal income tax withheld c Employer's name, address, and ZIP code 3 Social security wages 4 Social security tax withheld 5 Medicare wages and tips 6 Medicare tax withheld 7 Social security tips 8 Allocated tips 85,500 95-111111 85,500 Webmasters, Inc. 5612 Elm Street Fort Collins, CO 80524 9 2,480 10 Dependent care benefits Suff. 11 Nonqualified plans Last name Worthington Adria 10,602 85,500 d Control number e Employee's first name and initial 13,216 13 Statutory employee Retirement plan 12a See instructions for box 12 C o d e Third-party sick pay 12b C o d e 12c 14 Other C o d e 12d C o d e f Employee's address and ZIP code 15 State Employer's state ID number CO 555555555 Form W-2 Wage and Tax Statement 16 State wages, tips, etc. 85,500 17 State income tax 3,386 2015 Copy BTo Be Filed With Employee's FEDERAL Tax Return. This information is being furnished to the Internal Revenue Service. 18 Local wages, tips, etc. 19 Local income tax 20 Locality name Department of the TreasuryInternal Revenue Service 671113 Schedule K-1 (Form 1120S) 2015 Department of the Treasury Internal Revenue Service For calendar year 2015, or tax year beginning ending Information About the Corporation Corporation's employer identification number B Corporation's name, address, city, state, and ZIP code 84-111111 Deductions, Credits, and Other Items 1 Ordinary business income (loss) 2 Net rental real estate income (loss) 3 Other net rental income (loss) 4 Interest income 13 Credits 14 Foreign transactions 25,000 5b Qualified dividends Tech Works, LLC 11111 Sunshine Lane Fort Collins, CO 80521 6 Royalties 7 Net short-term capital gain (loss) 8a Net long-term capital gain (loss) IRS Center where corporation filed return Part II Part III Shareholder's Share of Current Year Income, 5a Ordinary dividends A C OMB No. 1545-0123 Amended K-1 , 2015 , 20 Shareholder's Share of Income, Deductions, See back of form and separate instructions. Credits, etc. Part I Final K-1 8b Collectibles (28%) gain (loss) Information About the Shareholder 8c Unrecaptured section 1250 gain D Shareholder's identifying number E Shareholder's name, address, city, state, and ZIP code 987-65-4321 9 Net section 1231 gain (loss) 10 Other income (loss) 15 Alternative minimum tax (AMT) items 11 Section 179 deduction 16 Items affecting shareholder basis A 15,000 12 Other deductions Adria Worthington 2357 Sweet Maple Lane Fort Collins, CO 80524 F Shareholder's percentage of stock ownership for tax year . . . . . . . 10 % 500 For IRS Use Only A 17 Other information * See attached statement for additional information. For Paperwork Reduction Act Notice, see Instructions for Form 1120S. IRS.gov/form1120s Cat. No. 11520D Schedule K-1 (Form 1120S) 2015