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Kelly and Chanelle Chambers, ages 4 7 and 4 5 , are married and live at 5 8 4 Thoreau Drive, Boston, MA 5 9
Kelly and Chanelle Chambers, ages and are married and live at Thoreau Drive, Boston, MA Kellys Social Security number is and Chanelles is The Chambers have two children: Emma, age and Chet, age Their Social Security numbers are and respectively. Emma is a single college student and earned $ during the summer. Kelly and Chanelle help Emma through school by paying for her room, board, and tuition. Emma lives at home during the summer. Chet has a physical handicap and lives at home. He attends a local university and earned $ working for a marketing firm. In sum, Kelly and Chanelle provide more than of both Emmas and Chets total support for the year. Kelly is a commercial pilot for a small airline. His salary is $ from which $ of federal income tax and $ of state income tax were withheld. Kelly also pays premiums for health, disability, and life insurance. $ of the premium was for health insurance, $ for disability, and $ for life insurance. Chanelle owns Alliance Networks, a proprietorship that does network consulting. During the year, Chanelles gross revenues were $ She incurred the following expenses in her business:Liability insurance $Software rental Journals and magazines Training seminars Supplies Donations to a political campaign fund Kelly enjoys playing guitar and plays in a band. Kellys band has developed a local following. This year, his gross revenues were $ for playing shows and $ on CD sales. He incurred the following expenses:Studio rent expense Sound system repairs CD production New guitar and amplifier Kellys father passed away during the year. Kelly and Chanelle received $ from the life insurance policy. Neither Kelly nor Chanelle paid any of the premiums. Chanelle purchased shares of Thurston Co stock on May for $ Thurston Co was declared bankrupt during the current year. Chets physician recommended that he see a physical therapist to help with his disability. Kelly paid the therapist $ during the year because his insurance would not cover the bills.Kelly and Chanelle went to Las Vegas and won $ at the blackjack table. The next night, they lost $Kelly and Chanelle gave $ to their church and, during the year, they had the following other income and expenses:Real estate taxes Property taxes on car determined by valueHome mortgage interest Credit card finance charges Tax return preparation fees $ is allocable to Chanelles businessSales tax on purchases during the year Interest from a savings account Interest from City of Boston Bonds Dividend from M stock
Prepare Kelly and Chanelles tax return Form and Schedules A B C D and SE for Assume the couple had no transactions involving virtual currency.
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