Please prepare a $2022$ Form $1040$ with the accompanying schedules and forms based on the following Please prepare a $2022$ Form $1040$ with the accompanyin

information. The standard deduction and tax rate schedules should be $2023.$ Please be sure and calculate

the tax on ordinary income and the capital gains tax and show your calculation on a separate piece of

paper

There are items that are not included in the tax return. Please provide on a separate

Mark and Martha Jameson are married on November $25.$ They have three children whom she and Mr$.$ Jameson

can claim as dependents on their joint return. The children's names are Stephanie $(14),$ Stephen $(12)$ and Stancil

$(10).$ Mr$.$ and Mrs$.$ Jameson are $64$ and $62$ respectfully.

Mr$.$ Jameson is a school administrator and has gross salary on his W$-2$ Box $1$ of $$52,000.$ His federal

income tax withholding is $$12,000.$

Mr$.$ Jameson has interest income from State of Alabama bonds in the amount of $$4,200.$

Mr$.$ Jameson has interest income from a money market account at UBS in the amount of $$5,600.$

Mrs$.$ Jameson is receiving retirement of $$1,700$ a month. All of the retirement income is taxable. She

received the retirement the entire year. She also had $$2,500$ withheld in federal income tax.

Mrs$.$ Jameson works part$-$time and has gross salary on her W$-2$ Box $1$ in the amount of $$24,000.$ She

has $$4,000$ withheld in federal income tax.

Mrs$.$ Jameson owns a number of stocks. She received dividends from AT&T in the amount of $$425.$

She also received dividends in the amount of $$375$ from Regions Bank and $$585$ from Wachovia.

None of these are qualified dividends.

In addition to his job at the high school, Mr$.$ Jameson also has a lawn service. He is self$-$employed.

His net income from the business was $$23,000.$

Mrs$.$ Jameson owns a rental house on Camden Lane in Linden, Alabama. Her net rental income,

after expenses was $$34,000.$ She materially participates in the management of this home.

Mr$.$ Jameson is a partner in ABC partnership. His share of ordinary income for the partnership for

the year is $$22,000.$ His share of ordinary dividends is $$800$ and his share of taxable interest is $$650.$

Mr$.$ Jamison's employer paid his health insurance premiums. This benefit was worth $$18,000.$ Mr$.$

Jameson's employer also paid premiums of $$360$ for disability insurance for Mr$.$ Jameson.

Mrs$.$ Jameson writes music in her free time. She receives royalties of $$4,875$ from ASCAP.

Mr$.$ and Mrs$.$ Jameson paid the following estimates $1^{st}$ quarter $$7,500,2^{nd}$ quarter $$8,000,3^{rd}$

quarter $$5,000$ and $4^{th}$ quarter $$5,000.$

Mr$.$ Jameson sold stock for $$125,000.$ He bought the stock for $$35,000$ in $1999.$

The couple has itemized deductions of $$15,800.$

Mr$.$ Jameson was unemployed during part of the year. He received $$6,000$ in unemployment

compensation.

Mrs$.$ Jameson received a gift of land from her Uncle Ted during the year. The land has been in the

family for $4$ generations and is valued at $$1,200,000.$

Mrs$.$ Jameson was also a beneficiary of her grandmother's estate. She received IBM stock valued at

$$2,400$ and $$45,000$ in cash from the estate.

Mrs$.$ Jameson has decided to go back to school and start a second career. She received a scholarship

for her books in the amount of $$800.$ She also received a scholarship for her tuition in the amount of

$$6,000.$

Mr$.$ Jameson is hurt at his job. He received $$2,200$ in worker's compensation benefits.

Mrs$.$ Jameson decides to sell the family land described in #$16.$ She received the land on January $22$

and sold the land on November $24.$ She is paid $$1,400,000$ and the land had a basis to her Uncle Ted of

$$250,000.$ Read in Chapter $11,$ page $3$ to determine the basis of the property.

Mrs$.$ Jameson decides to sell the IBM stock she received from her grandmother's estate in #$17.$ The

basis to her grandmother is $$500$ and she sells it for $