PLEASE COMPLETE TAX RETURN WITH THE FOLLOWING INFO

Please make up any non-financial information needed to complete the tax return that is not provided. Note that extra-credit Information is found below at the bottom. Students doing the extra-credit will hand in two separate tax returns.

Return Information: Social Security Numbers: Donald- 123-45-6789, Melania 333-222-111 Donald is age 64, Melania is age 51. Son Barron age 11 - SS# 555-77-6666. Melania paid $7,000 in childcare expenses for Barron while she worked. Salary: Donald - $40,000, Melania $25,000, Barron $600 Interest from Mellon Bank - $7,000; Interest on New York municipal bonds - $6,000 Dividends on Trump, Inc. stock 1,000 Sold 1,000 shares of IBM stock for $5,000 on January 15, 2020. Shares were purchased on January 15, 2014 for $3,000. Melania had the following operating results from her modeling business, which she operated as a sole proprietorship: Sales income - $12,000 Office supplies - 4,000 Advertising Expenses - 2,000 Entertainment expense 2,000 Donald and Melania rented out the old family home in New York for the entire year: Rental income - $8,000, Mortgage interest - $4,000, Depreciation - The house was purchased in 12/01/18 at a cost of $100,000 and is depreciated on a straight-line basis over 27.5 years. Accumulated Depreciation from prior years was $3,788. Mortgage interest on the white house owned by Donald and lived in by family - $7,000 Real Estate taxes on the white house - $7,000. State income taxes withheld from Donalds wages - $5,000 Federal income taxes withheld from Donalds wages - $3,000 New York City sales tax paid by Donald was $1,800. State income tax refund of 2019 overpayment received in 2020 - $3,000 (2019 state income taxes were fully deductible on the 2019 tax return.) Donald had $5,000 of business travel expenses, which were reimbursed by his employer. Melania paid $4,000 in college tuition for graduate school. Donald contributed $6,000 to the United Way, and $7,000 to Fordham University during the year. Melania paid $4,000 of student loan interest.

Complete a separate tax return for Donald and Melania, adding the additional information found below: Sold 1,000 shares of GM stock for $6,000 on January 15, 2020. Shares were received as a gift from Ivanka, on January 15, 2017. Ivanka purchased stock on January 1, 2009 for $9,000. The value of the stock on January 15, 2017 was $7,000. Donald received $20,000 in social security benefits during the year. Donald paid $10,000 in alimony and $8,000 in child support to his first wife, Stormy. The couple was divorced in 2015. Melanias law business purchased the following assets in 2020: 7-year equipment - $3,000 on Nov 30 5-year equipment - $4,000 on Dec. 15 (Please maximize her 2020 depreciation deduction.) Unreimbursed medical expenses appointments for Donald and Melania - $7,000 appointments for Barron - $8,000 Prescription drugs - $4,000 Melanias eye glasses - $500 Medical insurance premiums - $2,500 Donald and Melania also have a twenty year old daughter, Hilary. Hilary is a full-time graduate student and Donald paid $8,000 of tuition and 2,500 for food, on her behalf. Hilary had no other expenses during the year. Donald bought business suits for $8,000 that he wears only to the office and for official work events. Donald pays $2,500 in union dues related to his employment. Donald and Melania like to eat out and spent $6,000 at various restaurants in the D.C. area.