Question
Noah and Joan Arc live with their family in Dayton, OH. Noahs Social Security number is 434-11-3311. Noah was born on February 22, 1982 and
Noah and Joan Arc live with their family in Dayton, OH. Noah’s Social Security number is 434-11-3311. Noah was born on February 22, 1982 and Joan was born on July 1, 1983. Both enjoy good health and eyesight. Noah owns and operates a pet store and Joan is a firefighter for the city of Dayton.
1) The Arcs have two children, a son named Billie Bob (Social Security number 598-01-2345) born on March 21, 2010, and a daughter named Mary Sue (Social Security number 554-33-2411) born on December 3, 2013.
2) Joan and Noah broght a folder of tax documents
3) Noah's pet store is located at 1415 S. Patterson Blvd., Dayton, OH 45409. The name of the store is "The Arc" and its taxpayer identification number is 95-9876556. Since you handle Noah's bookkeeping, you printed the income statement from your Quickbooks software, shown below.
4) Noah and Joan paid the following amounts during the year (all by check)
Political Contributions | $250 |
Church donations (for which a written acknowledgment was received) | $2,625 |
Real estate taxes on their home | $1,375 |
Medical co-pay for doctor visits | $700 |
Mortgage interest for purchase of home | $11,130 |
Tax return preparation fees | $350 |
Credit card interest | $220 |
Automobile insurance premiums | $600 |
Uniforms for Joan | $125 |
5) Noah has a long-term capital loss carryover from last year of $2,375
6) Noah and Joan own rental property located at 16 Oakwood Ave, Unit A, Dayton, OH 45409. The revenue and expenses for the year are as follows:
Rental Income | $13,800 |
Insurance | $575 |
Interest expense | $6,870 |
Property taxes | $1,000 |
Miscellaneouse expenses | $700 |
Depreciation (the house was aquired in 1992) | $3,000 |
7) All members of the Arc household were covered for the entire year under health care insurance through Joan's employer.
8) The Arcs paid Ohio general sales tax of $976 during the year.
Required:
You are to prepare there federal income tax return in good form, signing the returns as the preparer. Do not complete an Ohio state income tax return. Make realistic assumptions about any missing data (addresses, ect.) that you may need. The following forms and schedules are required.
Form 1040 | Schedule E |
Schedule A | Schedule SE |
Schedule B | Form 2441 |
Schedule C | Form 8949 |
Schedule D | Qualified Dividends and Capital Gains Tax Worksheet |
a Employee's anc security numoer 456-87-5432 Safe, accurate, FAST! Use Vst the IRS website at nefile www.ingowielie OME No. 1545-008 b Enployer identification aumber (N 33-4382966 1 Wages, s, other compersation 27,800.00 3 Sodal secunty wages 27,800.00 2 Federal income tax withihe 5,025.00 4 Socal secunity tax withhed 1,723.60 e Emoloyer'a name, address, and 2P oods City of Dayton Fire and Rescue 5 Modicere wages and tips 27,800.00 7 Social security tips 6 Medicare tax withheld 403.10 8 Alocated tips 123 Warren Street Dayton, OH 45402 d Control number 9 Verication code 10 Dependant cae banet ts Employee's first e ard initial Last nane Suff. 11 Norqukied plans 12a See instructions for box 12 13 y 12b Joan Arc 1265 W. Riverview Avenue Dayton, OH 45402 14 Other 120 12d I Employee's address and ZIP oode 15 S Employer's state ID Toer OH 1126-87021 18 Loc weges, tpe, utc. 16 Sute wages, s, etc. 17 State Inceme tax 27,800.00 19 Lece 20 Lecaity nana 1,240.00 W-2 Wage and Tax Statement 2017 Department of the Treasury-Intarral Rovenue Service Fom Copy B-To Be Filed With Employee's FEDERAL Tax Return.
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