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Need help filling out schedule A for this assignment pleae. Dan M. and Cheryl A. Peters are married, file a joint return, and have no

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedNeed help filling out schedule A for this assignment pleae.

Dan M. and Cheryl A. Peters are married, file a joint return, and have no children. Dan, age 45, is an independent contractor working in pharmaceutical sales and Cheryl, age 42, is a nurse at a local hospital. Dan's SSN is 400-20-0000 and Cheryl's SSN is 200-40-0000 and they reside at 2033 Palmetto Drive, Atlanta, GA 30304. Dan is paid according to commissions from sales, and he has no income tax or payroll tax withholdings. Dan oper- ates his business from his home office. During 2019, Dan earned total commissions in his business of $125,000. Cheryl earned a salary during 2019 of $45,400, with the following withholdings: $6,000 federal taxes, $1,800 state taxes, $2,815 OASDI (Social Security), and $658 Medicare taxes. During 2019, Dan and Cheryl had interest income from corporate bonds and bank ac- counts of $1,450 and qualified dividends from stocks of $5,950. Dan also actively trades stocks and had the following results for 2019: LTCG $4,900 LTCL (3,200) STCG 0 STCL (7,800) He had no capital loss carryovers from previous years. Basis for the stocks were re- ported to the IRS by the brokerage firm. Dan does a considerable amount of travel in connection with his business and uses his own car. During 2019, Dan drove his car a total of 38,000 miles, of which 32,000 were business related. He also had business-related parking fees and tolls during the year of $280. Dan uses the mileage method for deducting auto expenses. Dan also had the follow- ing travel expenses while away from home during the year: Hotel $4,200 Meals 820 Entertainment of customers 1,080 Tips 100 Laundry and cleaning 150 Total $6,350 Dan uses the simplified method to deduct expenses for his office-in-home. His office measures 15 feet by 12 feet in size. Cheryl incurred several expenses in connection with her nursing job. She paid $450 in professional dues, $200 in professional journals, and $350 for uniforms. Dan and Cheryl had the following other expenditures during the year: 470 Health insurance premiums (after-tax) $ 4,400* Doctor bills Real estate taxes on home 6,800 Personal property taxes 1,400 Mortgage interest-all deductible 7,400 Charitable contributions-cash 9,000 Charitable contributionsApple stock owned for 5 years: FMV $8,000 Adjusted basis 2,000 Tax preparation fees ($250 allocated to Dan's business) 750 * Paid by Dan in connection with his business. During 2019, Dan and Cheryl paid federal and state estimated tax payments on a quarterly basis. Federal payments for the year amounted to $20,000. State estimated pay- ments for the year amounted to $2,200. Compute Dan and Cheryl's income tax liability for 2019. Disregard the alternative minimum tax but include the self-employment tax. SCHEDULE A OMN 1543-0004 shown on Fm 1060 or 110-R 400-20-0000 Itemized Deductions Form 100 or 1040-S Rev. Jury 2009 Go to www.izgow Scheduled for instructions and the latest information 2019 Department of the Attach to Form 1040 1040-ST. Pre Release Caution: " you are coming and qualified danser low on Form 484 3e the instructions for in 18. Attachment Segan 07 Your social security number Dan M. and Charyl A. Puters Medical Caution: Do not include expenses reimbursed or paid by others. 2 Enter amount from Fom 1040 or 1040-SP, Ine ab 2 132526 Expenses 3 Multiply line 2 by 7.5% (0.075) 4 Subtract line 3 from line 1. Irine 3 is more than line 1, enter-O. 1 Medical and dental expenses se instructions and Dental 5 State and local taxes. Taxes You Paid 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 clect to include general sales taxes instead of income taxes, check this box.. . 50 State and local real estate taxes instructions 5 e State and local personal property taxes 50 dAdd lines sa through sc 5d enter the smaller of line 5d or $10,000 $5,000 if married filing separately 5e 6 Other taxes. List type and amount Interest You Paid 7 Add lines se and . 8 Home mortgage interest and points. If you didn't use all of your home mortgage loans) to buy build, or improve your home, see instructions and check this box a Home mortgage interest and points reported to you on Form 109. See instructions it limited mortgage dan be limited tinctio bHome mortgage interest not reported to you on Fom 1098. See instructions limited. If paid to the person from whom you bought the home, see instructions and show that person's name, identifying no., and address 10 e Points not reported to you on Form 109. See instructions for special rules Be d Mortgage insurance premiums (see instructions - Bd e Add lines Ba through ad Be 9 Investment interest. Attach Form 4952 required. See instructions (0) 10 Add lines Be and Gifts to 11 Gifts by cash or check. If you made any gint of $250 or more, see Charity instructions 11 12 Other than by cash or check. If you made any gift of $250 or more, madead see instructions. You must attach Form 2283 over $500 got a bad for 12 mention 13 Carryover from prior year 13 14 Addnes 11 through 13 Casualty and 15 Casualty and theft lossle from a federally declared disaster (other than not qualified Theft Losses disaster losses. Attach Form 4684 and enter the amount from line 18 of that form. See instructions Other 16 Other from list in instructions. List type and amount Coyou 14 15 Itemized 16 Deductions 17 Add the amounts in the far right column for lines 4 through 16. Also, enter this amount on Deductions 18 if you clect to temiz deductions even though they are less than your standard deduction check this box Total Itemized For 1040 or 1040-SR, ne 9 17 For Paperwork Maduction Act Notice, see the Instructions for Forma 1040 and 1040-SIL Cat. Na 17145C Schedule Afarm 1040 or 1040-SA 2019 Dan M. and Cheryl A. Peters are married, file a joint return, and have no children. Dan, age 45, is an independent contractor working in pharmaceutical sales and Cheryl, age 42, is a nurse at a local hospital. Dan's SSN is 400-20-0000 and Cheryl's SSN is 200-40-0000 and they reside at 2033 Palmetto Drive, Atlanta, GA 30304. Dan is paid according to commissions from sales, and he has no income tax or payroll tax withholdings. Dan oper- ates his business from his home office. During 2019, Dan earned total commissions in his business of $125,000. Cheryl earned a salary during 2019 of $45,400, with the following withholdings: $6,000 federal taxes, $1,800 state taxes, $2,815 OASDI (Social Security), and $658 Medicare taxes. During 2019, Dan and Cheryl had interest income from corporate bonds and bank ac- counts of $1,450 and qualified dividends from stocks of $5,950. Dan also actively trades stocks and had the following results for 2019: LTCG $4,900 LTCL (3,200) STCG 0 STCL (7,800) He had no capital loss carryovers from previous years. Basis for the stocks were re- ported to the IRS by the brokerage firm. Dan does a considerable amount of travel in connection with his business and uses his own car. During 2019, Dan drove his car a total of 38,000 miles, of which 32,000 were business related. He also had business-related parking fees and tolls during the year of $280. Dan uses the mileage method for deducting auto expenses. Dan also had the follow- ing travel expenses while away from home during the year: Hotel $4,200 Meals 820 Entertainment of customers 1,080 Tips 100 Laundry and cleaning 150 Total $6,350 Dan uses the simplified method to deduct expenses for his office-in-home. His office measures 15 feet by 12 feet in size. Cheryl incurred several expenses in connection with her nursing job. She paid $450 in professional dues, $200 in professional journals, and $350 for uniforms. Dan and Cheryl had the following other expenditures during the year: 470 Health insurance premiums (after-tax) $ 4,400* Doctor bills Real estate taxes on home 6,800 Personal property taxes 1,400 Mortgage interest-all deductible 7,400 Charitable contributions-cash 9,000 Charitable contributionsApple stock owned for 5 years: FMV $8,000 Adjusted basis 2,000 Tax preparation fees ($250 allocated to Dan's business) 750 * Paid by Dan in connection with his business. During 2019, Dan and Cheryl paid federal and state estimated tax payments on a quarterly basis. Federal payments for the year amounted to $20,000. State estimated pay- ments for the year amounted to $2,200. Compute Dan and Cheryl's income tax liability for 2019. Disregard the alternative minimum tax but include the self-employment tax. SCHEDULE A OMN 1543-0004 shown on Fm 1060 or 110-R 400-20-0000 Itemized Deductions Form 100 or 1040-S Rev. Jury 2009 Go to www.izgow Scheduled for instructions and the latest information 2019 Department of the Attach to Form 1040 1040-ST. Pre Release Caution: " you are coming and qualified danser low on Form 484 3e the instructions for in 18. Attachment Segan 07 Your social security number Dan M. and Charyl A. Puters Medical Caution: Do not include expenses reimbursed or paid by others. 2 Enter amount from Fom 1040 or 1040-SP, Ine ab 2 132526 Expenses 3 Multiply line 2 by 7.5% (0.075) 4 Subtract line 3 from line 1. Irine 3 is more than line 1, enter-O. 1 Medical and dental expenses se instructions and Dental 5 State and local taxes. Taxes You Paid 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 clect to include general sales taxes instead of income taxes, check this box.. . 50 State and local real estate taxes instructions 5 e State and local personal property taxes 50 dAdd lines sa through sc 5d enter the smaller of line 5d or $10,000 $5,000 if married filing separately 5e 6 Other taxes. List type and amount Interest You Paid 7 Add lines se and . 8 Home mortgage interest and points. If you didn't use all of your home mortgage loans) to buy build, or improve your home, see instructions and check this box a Home mortgage interest and points reported to you on Form 109. See instructions it limited mortgage dan be limited tinctio bHome mortgage interest not reported to you on Fom 1098. See instructions limited. If paid to the person from whom you bought the home, see instructions and show that person's name, identifying no., and address 10 e Points not reported to you on Form 109. See instructions for special rules Be d Mortgage insurance premiums (see instructions - Bd e Add lines Ba through ad Be 9 Investment interest. Attach Form 4952 required. See instructions (0) 10 Add lines Be and Gifts to 11 Gifts by cash or check. If you made any gint of $250 or more, see Charity instructions 11 12 Other than by cash or check. If you made any gift of $250 or more, madead see instructions. You must attach Form 2283 over $500 got a bad for 12 mention 13 Carryover from prior year 13 14 Addnes 11 through 13 Casualty and 15 Casualty and theft lossle from a federally declared disaster (other than not qualified Theft Losses disaster losses. Attach Form 4684 and enter the amount from line 18 of that form. See instructions Other 16 Other from list in instructions. List type and amount Coyou 14 15 Itemized 16 Deductions 17 Add the amounts in the far right column for lines 4 through 16. Also, enter this amount on Deductions 18 if you clect to temiz deductions even though they are less than your standard deduction check this box Total Itemized For 1040 or 1040-SR, ne 9 17 For Paperwork Maduction Act Notice, see the Instructions for Forma 1040 and 1040-SIL Cat. Na 17145C Schedule Afarm 1040 or 1040-SA 2019

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