Mike (SSN # 222-22-2222) and Brenda (333-33-3333) Carlton live in Alva, OK and have two kids, Davis and Heather. Mike works as an investment advisor and Brenda is a consultant. They won $2,500 gambling in Las Vegas in March and this amount was included in their income. The Carltons AGI is $105,000. They provide you with the following financial information and unreimbursed expenses:
Oklahoma state income taxes $ 6,255
Mortgage interest 11,492
Health club dues 600
Health insurance premiums 4,825
Prescription drugs 665
Contact lenses for Davis 300
Property taxes 4,789
Charitable contributions in cash to the Catholic church 1,200
Medical insurance paid 4,397 of their medical claims 4,397
Contributed Visa stock acquired in 2011 for $800 with FMV of 1,100 to American Cancer Society
Gambling losses during trip to Lake Tahoe 1,100
Chiropractor fees 400
Unreimbursed hospital and doctor charges from Mikes surgery 3,910
Safe-deposit box to hold various investments and jewelry 360
Tax return preparation fee 250
Contributed 1 acre of land owned 2 years (FMV $10,000 basis 6,500) to OSU
Loan origination fees on their new home 250
Mortgage insurance premiums 2,500
Mikes union dues 800
Fees for an investment advisor 200
Dentist fees 1,200
Points paid to acquire the new mortgage on their home 5,000
Complete Schedule A for the Mike and Brenda Carlton. You also need to include a TYPED Schedule A Attachment that includes a breakdown of all lines on the form where you have combined items to arrive at a number. For example, Line 1, Medical and Dental Expenses, will have several expenses combined to arrive at this number. Thus, the calculation should be included on your attachment. Forms and instructions can be downloaded from the IRS web site.
SCHEDULE A Itemized Deductions OML (Form 1040 or 1040-SR) Go to www.irs.gov/Schedule A for instructions and the latest information. (Rev. January 2020) Attach to Form 1040 or 1040-SR. Department of the Treasury Attachment Internal Revenue Service (99) Caution: If you are claiming a net qualified disaster loss on Form 4684, see the instructions for line 16. Sequence No. 07 Name(s) shown on Form 1040 or 1040-SR Your social security number 2019 1 Medical and Dental Expenses 3 4 Taxes You Paid Caution: Do not include expenses reimbursed or paid by others. 1 Medical and dental expenses (see instructions) 2 Enter amount from Form 1040 or 1040-SR, line 8b 2 3 Multiply line 2 by 7.5% (0.075). 4 Subtract line 3 from line 1. If line 3 is more than line 1, enter -O- 5 State and local taxes. a State and local income taxes or general sales taxes. You may include either income taxes or general sales taxes on line 5a, but not both. If you elect to include general sales taxes instead of income taxes, check this box b State and local real estate taxes (see instructions) c State and local personal property taxes d Add lines 5a through 5c e Enter the smaller of line 5d or $10,000 ($5,000 if married filing separately) 6 Other taxes. List type and amount 5a 5b 5c 5d 5e 6 7 Add lines 5e and 6 7 Interest You Paid Caution: Your mortgage interest deduction may be limited (see instructions). 8 Home mortgage interest and points. If you didn't use all of your home mortgage loan(s) to buy, build, or improve your home, see instructions and check this box a Home mortgage interest and points reported to you on Form 1098. See instructions if limited b Home mortgage interest not reported to you on Form 1098. See instructions if limited. If paid to the person from whom you bought the home, see instructions and show that person's name, identifying no., and address. 8a 8b 8c 8d c Points not reported to you on Form 1098. See instructions for special rules d Mortgage insurance premiums (see instructions). e Add lines 8a through 8d . 9 Investment interest. Attach Form 4952 if required. See instructions. 10 Add lines 8e and 9 8e 9 10 Gifts to 11 Gifts by cash or check. If you made any gift of $250 or more, see Charity instructions 11 Caution: If you 12 Other than by cash or check. If you made any gift of $250 or more, made a gift and got a benefit for it, see instructions. You must attach Form 8283 if over $500. 12 see instructions. 13 Carryover from prior year 13 14 Add lines 11 through 13. 14 Casualty and 15 Casualty and theft loss(es) from a federally declared disaster (other than net qualified Theft Losses disaster losses). Attach Form 4684 and enter the amount from line 18 of that form. See instructions 15 Other 16 Otherfrom list in instructions. List type and amount Itemized Deductions 16 Total 17 Add the amounts in the far right column for lines 4 through 16. Also, enter this amount on Itemized Form 1040 or 1040-SR, line 9 17 Deductions 18 If you elect to itemize deductions even though they are less than your standard deduction, check this box For Paperwork Reduction Act Notice, see the Instructions for Forms 1040 and 1040-SR. Cat. No. 17145C Schedule A (Form 1040 or 1040-SR) 2019 SCHEDULE A Itemized Deductions OML (Form 1040 or 1040-SR) Go to www.irs.gov/Schedule A for instructions and the latest information. (Rev. January 2020) Attach to Form 1040 or 1040-SR. Department of the Treasury Attachment Internal Revenue Service (99) Caution: If you are claiming a net qualified disaster loss on Form 4684, see the instructions for line 16. Sequence No. 07 Name(s) shown on Form 1040 or 1040-SR Your social security number 2019 1 Medical and Dental Expenses 3 4 Taxes You Paid Caution: Do not include expenses reimbursed or paid by others. 1 Medical and dental expenses (see instructions) 2 Enter amount from Form 1040 or 1040-SR, line 8b 2 3 Multiply line 2 by 7.5% (0.075). 4 Subtract line 3 from line 1. If line 3 is more than line 1, enter -O- 5 State and local taxes. a State and local income taxes or general sales taxes. You may include either income taxes or general sales taxes on line 5a, but not both. If you elect to include general sales taxes instead of income taxes, check this box b State and local real estate taxes (see instructions) c State and local personal property taxes d Add lines 5a through 5c e Enter the smaller of line 5d or $10,000 ($5,000 if married filing separately) 6 Other taxes. List type and amount 5a 5b 5c 5d 5e 6 7 Add lines 5e and 6 7 Interest You Paid Caution: Your mortgage interest deduction may be limited (see instructions). 8 Home mortgage interest and points. If you didn't use all of your home mortgage loan(s) to buy, build, or improve your home, see instructions and check this box a Home mortgage interest and points reported to you on Form 1098. See instructions if limited b Home mortgage interest not reported to you on Form 1098. See instructions if limited. If paid to the person from whom you bought the home, see instructions and show that person's name, identifying no., and address. 8a 8b 8c 8d c Points not reported to you on Form 1098. See instructions for special rules d Mortgage insurance premiums (see instructions). e Add lines 8a through 8d . 9 Investment interest. Attach Form 4952 if required. See instructions. 10 Add lines 8e and 9 8e 9 10 Gifts to 11 Gifts by cash or check. If you made any gift of $250 or more, see Charity instructions 11 Caution: If you 12 Other than by cash or check. If you made any gift of $250 or more, made a gift and got a benefit for it, see instructions. You must attach Form 8283 if over $500. 12 see instructions. 13 Carryover from prior year 13 14 Add lines 11 through 13. 14 Casualty and 15 Casualty and theft loss(es) from a federally declared disaster (other than net qualified Theft Losses disaster losses). Attach Form 4684 and enter the amount from line 18 of that form. See instructions 15 Other 16 Otherfrom list in instructions. List type and amount Itemized Deductions 16 Total 17 Add the amounts in the far right column for lines 4 through 16. Also, enter this amount on Itemized Form 1040 or 1040-SR, line 9 17 Deductions 18 If you elect to itemize deductions even though they are less than your standard deduction, check this box For Paperwork Reduction Act Notice, see the Instructions for Forms 1040 and 1040-SR. Cat. No. 17145C Schedule A (Form 1040 or 1040-SR) 2019
