quring tne year.

Warren and Young Kim are married taxpayers, filing jointly. They live at $777$ Kingston Place, Anaheim, CA $92805.$ They are both retired.

Their SSNs are Warren, $412-34-5670$; and Young, $412-34-5671.$ Their birth dates are as follows: Warren, January $8,1953$; and Young,

August $21,1953.$

They own their home, which they paid off in $2014,$ and another home that they paid for in cash as an investment $($Warren considers it

his pension$).$ Their investment home was rented for the entire year and is located just one block over at $9021$ Jasmine Way. The

following income and expense information relates to the rental activity. For the purpose of this return problem, do not consider passive

activity rules or limitations$.$

They placed the rental home into service on March $1,2017,$ and of the $$515,000$ purchase price, $$426,000$ was allocated to the land.

In addition to the rental, they received interest of $$1,086$ from American Credit Union and $$2,200$ from Bank of California. Social

Security benefits were $$13,910$ for Warren and $$8,822$ for Young, respectively.

Required:

Prepare the Kims' federal tax return for $2023.$ Use Form $1040,$ Schedule $1,$ Schedule B$,$ Schedule E$,$ Form $4562,$ and Form $8995.$

Assume they do not qualify for any credits $($although they may$).$ For any missing information, make reasonable assumptions. Use the

appropriate Tax Tables or Tax Rate Schedules and Table $6$A$-6.$

Note: List the names of the taxpayers and any income they receive in the order in which they appear in the problem. Input all the

values as positive numbers. Instructions can be found on certain cells within the forms. Round your final answers to the nearest

whole dollar amount. Do not skip rows, while entering in Interest section of Schedule B$.$ Enter zero where applicable.