Please prepare a 2018 Tax Form 1040 for the Jones Family income for 2018 including all applicable 1040 schedules and any other tax forms based on the following given information for the Jones family. This should be a complete tax return with all US IRS Tax Forms filled out.
Please prepare a boautiful tax return based on the following information: Jerry (age 51 SGH 123-45-789) and Joan (age 48 SSN 987-67-4321) Jones are married They five at 2513 Arterican Avenue Fargo, Norch nakota 9ES10 Both taxpayers eiect to contribute to the Presidential election campaign fund Their household includes Julie, their 8 year old daughter (SSN 456-12-7810) and Ed Jones, Jerry's father, age 71, (SSN 157-43-2587). Jerry and Joan provide more than half of the support of Julie and Ed. Jerry is a carpenter. Through his employer he buys health care insurance for his family. He is a participant in his company's 401(k) plan. His wage information follows: social security and medicare tax withheld 2500 wages 208 federal income tax withheld state income tax withheld Joan has her own business. Her business code is 454390. She uses the accrual basis of accounting for her business. She operated the business all twelve months of the year. She has an office in her home used exclusively for business. Joan materially participates in her business The name of the business is J&J Networking. The information relating to her business follows: 50000 200 Gross receipts returns and allowances beginning inventory purchases ending inventory Expenses advertising bank fees contribution to SIMPLE plan (0,0 2300 depreciation on equipment purchased commissions 00 in 2017 190 dues and publications insurance /8OO office expense 350 supplies 2400 travel meals and entertainment business seminars 500 other business taxes 900 90 / O miscellaneous expenses postage expense Joan uses the standard mileage rate for her car. During 2018 she drove total miles Bo00 business miles 2400 Information about the Jone's personal residence follows total area of the home 2400 area used for business Fair market value of home 250,00 0 adjusted basis of home value of land 2016 year home office placed in service mortgage interest real estate tax 6250 2400 pairs suppties whlhes The Jone's own residential rental property. /50,0 They purchased the rental property in 2014 for: amount allocated to land OS 00 d (you will need to depreciate this property) 32003 Rental revenue Rental expenses real estate tax utilities 1550 insurance cleaning and maintenance G200 legal and professional fees /a20 mortgage interest Po00 repairs supplies interest from the Columbia Bank 1050 Interest on Howard County Bond a/00 qualified dividends from ABC Corp Y00 qualified dividends from XYZ Corp.300 The Jone's had other income Other of Capital on return 1700 ABC stock Winnings Rom raffle Stock transactions Tollow date date sales company aqu'd cost sold price # of shares 100 Roper Corp 50 Fastco Corp 200 Eagle Corp 3500 9o00 31.118 6200 14/14 3/4/15 60003/,/18 100 South Corp 5/./17 Jerry Joan Julie Ed A summary of disbursements follow: 200 500 o00 550 670 l200 7600 150 medical expenses doctor bills dentist bills hospital bills transportation over the counter drugs hearing aid vitamins 800 210 900 96 32 100 es: sales tax 650 balance due with 2017 state return balance due with 2017 federal return /aD0 real estate tax 2400 Interest: 4250 mortgage interest credit card interest 5900 Cash contributions Chapelgate Church United Way Presidential election campaign la00 240 S0 The Jones' also donated 5 shares of S&W Common Stock to their church on 6/30/18. The stock had been purchased for on 1/1/14. The fair market value of the stock on 6/30/18 was 8200 4200 Other payments include safe deposit rental box fee 60 tax preparation fee Jerry's union dues automobile registration aoO 900 *545 payments an ufe insurance pokry End Please prepare a boautiful tax return based on the following information: Jerry (age 51 SGH 123-45-789) and Joan (age 48 SSN 987-67-4321) Jones are married They five at 2513 Arterican Avenue Fargo, Norch nakota 9ES10 Both taxpayers eiect to contribute to the Presidential election campaign fund Their household includes Julie, their 8 year old daughter (SSN 456-12-7810) and Ed Jones, Jerry's father, age 71, (SSN 157-43-2587). Jerry and Joan provide more than half of the support of Julie and Ed. Jerry is a carpenter. Through his employer he buys health care insurance for his family. He is a participant in his company's 401(k) plan. His wage information follows: social security and medicare tax withheld 2500 wages 208 federal income tax withheld state income tax withheld Joan has her own business. Her business code is 454390. She uses the accrual basis of accounting for her business. She operated the business all twelve months of the year. She has an office in her home used exclusively for business. Joan materially participates in her business The name of the business is J&J Networking. The information relating to her business follows: 50000 200 Gross receipts returns and allowances beginning inventory purchases ending inventory Expenses advertising bank fees contribution to SIMPLE plan (0,0 2300 depreciation on equipment purchased commissions 00 in 2017 190 dues and publications insurance /8OO office expense 350 supplies 2400 travel meals and entertainment business seminars 500 other business taxes 900 90 / O miscellaneous expenses postage expense Joan uses the standard mileage rate for her car. During 2018 she drove total miles Bo00 business miles 2400 Information about the Jone's personal residence follows total area of the home 2400 area used for business Fair market value of home 250,00 0 adjusted basis of home value of land 2016 year home office placed in service mortgage interest real estate tax 6250 2400 pairs suppties whlhes The Jone's own residential rental property. /50,0 They purchased the rental property in 2014 for: amount allocated to land OS 00 d (you will need to depreciate this property) 32003 Rental revenue Rental expenses real estate tax utilities 1550 insurance cleaning and maintenance G200 legal and professional fees /a20 mortgage interest Po00 repairs supplies interest from the Columbia Bank 1050 Interest on Howard County Bond a/00 qualified dividends from ABC Corp Y00 qualified dividends from XYZ Corp.300 The Jone's had other income Other of Capital on return 1700 ABC stock Winnings Rom raffle Stock transactions Tollow date date sales company aqu'd cost sold price # of shares 100 Roper Corp 50 Fastco Corp 200 Eagle Corp 3500 9o00 31.118 6200 14/14 3/4/15 60003/,/18 100 South Corp 5/./17 Jerry Joan Julie Ed A summary of disbursements follow: 200 500 o00 550 670 l200 7600 150 medical expenses doctor bills dentist bills hospital bills transportation over the counter drugs hearing aid vitamins 800 210 900 96 32 100 es: sales tax 650 balance due with 2017 state return balance due with 2017 federal return /aD0 real estate tax 2400 Interest: 4250 mortgage interest credit card interest 5900 Cash contributions Chapelgate Church United Way Presidential election campaign la00 240 S0 The Jones' also donated 5 shares of S&W Common Stock to their church on 6/30/18. The stock had been purchased for on 1/1/14. The fair market value of the stock on 6/30/18 was 8200 4200 Other payments include safe deposit rental box fee 60 tax preparation fee Jerry's union dues automobile registration aoO 900 *545 payments an ufe insurance pokry End
