Question
Mark and Marci incurred and paid the following personal expenses during the year: Taxes: Sales tax rate (365 days in Texas; State 6.25%; Local 2.00%)
Mark and Marci incurred and paid the following personal expenses during the year: Taxes: Sales tax rate (365 days in Texas; State 6.25%; Local 2.00%) ......................... 8.25% Real estate property tax on home ........................................................................ 8,500 Interest: Mortgage used to purchase home (principal balance $400,000; origination date June 10, 2015; reported by State Street Bank on Form 1098 - see taxes, above) ................................................................. 17,500 Margin account with TD Ameritrade (investment interest expense) . . . . . 500 15. Mark and Marci contracted with Kinder Care Child Care Service to care for Darci and Amber, while they were at work. Kinder Care was paid $4,200 for the care of Darci and $3,600 for the care of Amber. Kinder Care is located at 7112 Glenview Avenue, Sugar Land, Texas 77069 (EIN 45-6159819; phone number 713-480-6666). Care for Darci and Amber was provided at the Kinder Care location. 16. Mark and Marci made timely estimated Federal income tax payment of $16,000 for the year ($4,000 each quarter; paid on April 15, June 15, September 15, 2022, and January 15, 2023). 17. If preparing the return with a professional tax preparation software for which you are considered a paid preparer, you may need to complete form 8867 (Paid Preparers Due Diligence Checklist). If so, assume you have interviewed Mark and Marci and asked the appropriate questions and obtained appropriate documentation to support the income, deductions, and credits claimed on the return, including the couples filing status.
Its for a tax project what do I have to put on each and in what form ?
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