Question Noah and Joan Arc's Tax Return Noah and Joan Arc live with their family in Dayton, OH Noah's Social Security number is 434 11 3311 Noah was born on February 22, 1984 and Joan was born on July 1, 1985 Both enjoy good health and eyesight Noah owns and operates a pet store and Joan is a firefighter for the city of Dayton The Arcs have two children, a son named Billie Bob (Social Security number 598 01 2345), born on March 21, 2012, and a daughter named Mary Sue (Social Security number 554 33 2411), born on December 3, 2015 Joan and Noah brought a folder of tax documents located Noah's pet store is located at 1415 S Patterson Blvd, Dayton, OH 45409 The name of the store is The Arc, and its taxpayer identification number is 95 9876556 Since you handle Noah's bookkeeping, you have printed theincome statementfrom your Quickbooks software Detail of The Arc's meals and entertainment Travel costs are business related and do not include meals Noah and Joan paid the following amounts during the year (all by check) Political contributions $ 250 Church donations (for which a written acknowledgment was received) 5,025 Real estate taxes on their home 2,375 Medical co pays for doctor visits 700 Mortgage interest for purchase of home SeeForm 1098 Tax return preparation fees 350 Credit card interest 220 Automobile insurance premiums 600 Uniforms for Joan 125 Contribution to Noah's individual retirement account (made on April 1, 2020) 6,000 Noah has a long term capital loss carryover from last year of $2,400 Noah and Joan own a condo and use it as a rental property The condo is located at 16 Oakwood Ave, Unit A, Dayton, OH 45409 Noah provides the management services for the rental including selection of tenants, maintenance, repairs, rent collection, and other services as needed On average, Noah spends about 2 hours per week on the rental activity The revenue and expenses for the year are as follows Rental income $13,800 Insurance 575 Interest expense 6,870 Property taxes 1,016 Miscellaneous expenses 700 The home was acquired for $85,000 in 2003 No improvements have been made to the property The Arcs paid Ohio general sales tax of $976 during the year Required You are to prepare the Arc's federal income tax return in good form, signing the return as the preparer Do not complete Ohio state income tax return Make realistic assumptions about any missing data (addresses, etc ) that you may need The following forms and schedules are required Form 1040 Schedule SE Schedule 1 Form 2441 Schedule 2 Form 4562 Schedule 3 Form 8812 Schedule A Form 8949 Schedule B Form 8995 Schedule C Child Tax Credit Worksheet Schedule D Qualified Dividends and Capital Gain Tax Worksheet Schedule E Note The forms included in Appendix D are provided for the student to work on only one of the two additional comprehensive problems If desired, additional tax forms may be obtained from the IRS website atwww irs gov

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Question: Noah and Joan Arc's Tax Return Noah and Joan Arc live with their family in Dayton, OH. Noah's Social Security number is 434-11-3311. Noah

Question:

Noah and Joan Arc's Tax Return

Noah and Joan Arc live with their family in Dayton, OH. Noah's Social Security number is 434-11-3311. Noah was born on February 22, 1984 and Joan was born on July 1, 1985. Both enjoy good health and eyesight. Noah owns and operates a pet store and Joan is a firefighter for the city of Dayton.

The Arcs have two children, a son named Billie Bob (Social Security number 598-01-2345), born on March 21, 2012, and a daughter named Mary Sue (Social Security number 554-33-2411), born on December 3, 2015.
Joan and Noah brought a folder of tax documents located.
Noah's pet store is located at 1415 S. Patterson Blvd, Dayton, OH 45409. The name of the store is "The Arc," and its taxpayer identification number is 95-9876556. Since you handle Noah's bookkeeping, you have printed theincome statementfrom your Quickbooks software.
Detail of The Arc's meals and entertainment:
Travel costs are business related and do not include meals.
Noah and Joan paid the following amounts during the year (all by check):
Political contributions
$ 250
Church donations (for which a written acknowledgment was received)
5,025
Real estate taxes on their home
2,375
Medical co-pays for doctor visits
700
Mortgage interest for purchase of home
SeeForm 1098
Tax return preparation fees
350
Credit card interest
220
Automobile insurance premiums
600
Uniforms for Joan
125
Contribution to Noah's individual retirement account (made on April 1, 2020)
6,000
Noah has a long-term capital loss carryover from last year of $2,400.
Noah and Joan own a condo and use it as a rental property. The condo is located at 16 Oakwood Ave, Unit A, Dayton, OH 45409. Noah provides the management services for the rental including selection of tenants, maintenance, repairs, rent collection, and other services as needed. On average, Noah spends about 2 hours per week on the rental activity. The revenue and expenses for the year are as follows:
Rental income
$13,800
Insurance
575
Interest expense
6,870
Property taxes
1,016
Miscellaneous expenses
700
The home was acquired for $85,000 in 2003. No improvements have been made to the property.
The Arcs paid Ohio general sales tax of $976 during the year.

Required: You are to prepare the Arc's federal income tax return in good form, signing the return as the preparer. Do not complete Ohio state income tax return. Make realistic assumptions about any missing data (addresses, etc.) that you may need. The following forms and schedules are required:

Form 1040

Schedule SE

Schedule 1

Form 2441

Schedule 2

Form 4562

Schedule 3

Form 8812

Schedule A

Form 8949

Schedule B

Form 8995

Schedule C

Child Tax Credit Worksheet

Schedule D

Qualified Dividends and Capital Gain Tax Worksheet

Schedule E

Note:The forms included in Appendix D are provided for the student to work on only one of the two additional comprehensive problems. If desired, additional tax forms may be obtained from the IRS website atwww.irs.gov.