NEED ASSISTANCE WITH LINE 6 AND LINE 29

Kurt and Ashley Tallo (SSNs 412-34-5670 and 412-34-5671), mamied fi ng jointly, reside at 1901 Princess Ave., Park City, UT84060. Ashley does not work outside the home. Kurt's W-2 shows the following: $340,000 Wages 76,800 Federal withholding Social security wages 118,500 Social security withholding 7,347 Medicare withholding 6,190 State withholding 23,800 The Tallos also have the following: $12,600 Mortgage interest Charitable contributions $10,000 Kurt and Ashley have four passive activities. They received K-1s from four partnerships with the following income or loss on line They are at risk in each activity, so the passive loss rules are the only obstacle Activity 1 40,000) Activity 2 (20,000) Activity 3 (10,000) 63,000 Activity 4 Prepare Form 1040 for the Tallos for 2016. The Taxpayers had qualifying health care coverage at all times during the tax year. You will need Form 1040, Schedule A, Schedule E (page 2), Form 6251, and Form 8582. Do not compute the underpayment penalty, if any. (List the names of the taxpayers in the order in which they appear in the problem. Input all the values as positive numbers. However losses should be indicated by a minus sign.) Use the appropriate Tables or Tax Rate Schedules Kurt and Ashley Tallo (SSNs 412-34-5670 and 412-34-5671), mamied fi ng jointly, reside at 1901 Princess Ave., Park City, UT84060. Ashley does not work outside the home. Kurt's W-2 shows the following: $340,000 Wages 76,800 Federal withholding Social security wages 118,500 Social security withholding 7,347 Medicare withholding 6,190 State withholding 23,800 The Tallos also have the following: $12,600 Mortgage interest Charitable contributions $10,000 Kurt and Ashley have four passive activities. They received K-1s from four partnerships with the following income or loss on line They are at risk in each activity, so the passive loss rules are the only obstacle Activity 1 40,000) Activity 2 (20,000) Activity 3 (10,000) 63,000 Activity 4 Prepare Form 1040 for the Tallos for 2016. The Taxpayers had qualifying health care coverage at all times during the tax year. You will need Form 1040, Schedule A, Schedule E (page 2), Form 6251, and Form 8582. Do not compute the underpayment penalty, if any. (List the names of the taxpayers in the order in which they appear in the problem. Input all the values as positive numbers. However losses should be indicated by a minus sign.) Use the appropriate Tables or Tax Rate Schedules