Prepare a current year joint federal income tax return for Joe and Jill Biden using the information, below. Please include all documents that would be included with the Biden's' tax filing $($other than form W$-2$s$,$ since they are prepared by the employers$).$ As such, the filing will include the base IRS form $1040,$ plus all necessary schedules and attachments.

Relevant Client Information:

Social Security Numbers:

Joe: $123-45-6789$

Jill: $333-222-111$

Hunter $($son$)$: $555-77-6666$

Ashley $($daughter$)$: $444-55-6666$

Ages:

Joe: $64$

Jill: $62$

Hunter: $11$

Ashley $($daughter$)$: $19$

Jill paid $$5,000$ in childcare expenses for Hunter while she worked.

Jill & Joe paid $$3,000$ of tuition for Ashley who ends the year as a full$-$time sophomore at Penn State.

Salaries:

Joe: $$70,000$

Jill: $$25,000$

Ashley: $$1,500$

Investment Income:

Interest from Mellon Bank: $$2,000$

Dividends on Microsoft, Inc. stock: $$3,000$

Sold $1,000$ shares of IBM stock for $$8,000$ on July $15,2023.$ Shares were purchased on January $15,2018,$ for $$12,000.$

Business $-$ Self Employment

Jill had the following operating results from her education business, which she operated as a sole proprietorship:

Sales income $-$ $$15,000$

Advertising Expenses $-$ $$2,000$

Expense for Supplies $-$ $$3,000$

Jill$$s education business purchased the following assets in $2023$:

$7$ year equipment $-$ $$6,000$ on April $30$

$($Please maximize her $2023$ depreciation deduction.$)$

Rental Income

Joe & Jill rented their Delaware home for the entire year and received rental income of $$12,000.$

Expenses relating to the Delaware home include: mortgage interest expense of $$6,000$ and real estate taxes of $$4,000$

Miscellaneous:

Joe received $$17,000$ in social security benefits during the year.

Mortgage interest on the white house owned by Joe and lived in by family: $$7,000$

Real estate taxes on the white house: $$6,000.$

State income taxes withheld from Joe$$s wages: $$8,000$

Virginia sales tax on Joe's new car: $$1,200$

Federal income taxes withheld from Joe$$s wages: $$4,000$

Federal income taxes withheld from Jill's wages: $$3,000$

Joe had $$5,000$ of business travel expenses, which were reimbursed by his employer.

Joe contributed $$9,000$ to Syracuse University, and $$8,000$ to University of Delaware during the year.

Jill paid $$6,000$ of student loan interest.will include the base IRS form $1040,$ plus all necessary schedules and attachments.