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Please help me fill out the 2 0 2 2 1 0 4 0 form ASAP. Thanks in advance! Kelly and Chanelle Chambers, ages 4
Please help me fill out the form ASAP. Thanks in advance! Kelly and Chanelle Chambers, ages and are married and live at Thoreau Drive,
Boston, MA Kellys Social Security number is and Chanelles is The Chambers have two children: Emma, age and Chet, age Their Social
Security numbers are and respectively. Emma is a single
college student and earned $ during the summer. Kelly and Chanelle help Emma
through school by paying for her room, board, and tuition. Emma lives at home during
the summer. Chet has a physical handicap and lives at home. He attends a local university.
and earned $ working for a marketing firm. In sum, Kelly and Chanelle provide.
more than of both Emmas and Chets total support for the year.
Kelly is a commercial pilot for a small airline. His salary is $ from which.
$ of federal income tax and $ of state income tax were withheld. Kelly also
pays premiums for health, disability, and life insurance. $ of the premium was for
health insurance, $ for disability, and $ for life insurance.
Chanelle owns Alliance Networks, a proprietorship that does network consulting.
During the year, Chanelles gross revenues were $ She incurred the following expenses in her business:
Liability insurance $
Software rental
Journals and magazines
Training seminars
Supplies
Donations to a political campaign fund Kelly enjoys playing guitar and plays in a band. Kellys band has developed a local following. This year, his gross revenues were $ for playing shows and $ on CD
sales. He incurred the following expenses:
Studio rent expense $
Sound system repairs
CD production
New guitar and amplifier
Kellys father passed away during the year. Kelly and Chanelle received $ from
the life insurance policy. Neither Kelly nor Chanelle paid any of the premiums.
Chanelle purchased shares of Thurston Co stock on May for $
Thurston Co was declared bankrupt during the current year.
Chets physician recommended that he see a physical therapist to help with his disability. Kelly paid the therapist $ during the year because his insurance would not.
cover the bills.
Kelly and Chanelle went to Las Vegas and won $ at the blackjack table. The next
night, they lost $
Kelly and Chanelle gave $ to their church, and, during the year, they had the following other income and expenses:
Real estate taxes $
Property taxes on car determined by value
Home mortgage interest
Credit card finance charges
Tax return preparation fees $ is allocable to Chanelles business
Sales tax on purchases during the year
Interest from a savings account
Interest from City of Boston Bonds
Dividend from M stock
Prepare Kelly and Chanelles tax return Form and Schedules A B C D
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