Restart your subscription to keep accessing solutions Your Chegg Study subscription will expire on April 16, 2017 CONTINUE MY SUBSCRIPTION home study business finance questions and answers derrick and ani jones are married taxpayers, filing Question Derrick and Ani Jones are married taxpayers, filin Bookmark Derrick and Ani Jones are married taxpayers, filing jointly and have a son named Jackson They live at 474 Rustic Drive, Spokane, WA 99201 Derrick works as the director of information systems at Washington Community College District (WCCD) Ani is a stay at home mom Their SSNs are Derrick, 412 34 5670 Ani, 412 34 5671 and Jackson, 412 34 5672 Their birth dates are as follows Derrick, June 7, 1976 Ani, March 20, 1977 and Jackson, October 10, 2009 The Joneses own their home and paid $15,000 in mortgage interest during the year to Chase Bank and property taxes of $3,200 Assume they have no other deductible expenses The Form W 2 Derrick received from WCCD contained the following information Wages (box 1) $79,002 50 Federal W H (box 2) $8,000 14 Social security wages (box 3) $79,002 50 Social security W H (box 4) $ 4,898 16 Medicare wages (box 5) $79,002 50 Medicare W H (box 6) $1,145 54 In addition, the Joneses own a small four unit rental at 12345 Rainbow Way, Sultan, WA 98294 The rental was purchased and placed in service on July 1, 2003, and was rented for the entire year 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 Rental income $24,000 Real estate taxes 2,000 Utilities 1,500 Mortgage interest 3,800 Depreciation 7,200 Repairs and maintenance 1,300 Prepare the Joneses' federal tax return for 2015 Use Form 1040, Schedule A, Schedule E, and any other appropriate schedules Assume they do not qualify for any credits (although they may) If using tax software, the software will calculate Child Tax Credit automatically The taxpayers had qualifying health care coverage at all times during the tax

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Derrick and Ani Jones are married taxpayers, filing jointly and have a son named Jackson. They live at 474 Rustic Drive, Spokane, WA 99201. Derrick works as the director of information systems at Washington Community College District (WCCD). Ani is a stay-at-home mom. Their SSNs are Derrick, 412-34-5670; Ani, 412-34-5671; and Jackson, 412-34-5672. Their birth dates are as follows: Derrick, June 7, 1976; Ani, March 20, 1977; and Jackson, October 10, 2009. The Joneses own their home and paid $15,000 in mortgage interest during the year to Chase Bank and property taxes of $3,200. Assume they have no other deductible expenses.

The Form W-2 Derrick received from WCCD contained the following information:

Wages (box 1)	=	$79,002.50
Federal W/H (box 2)	=	$8,000.14
Social security wages (box 3)	=	$79,002.50
Social security W/H (box 4)	=	$ 4,898.16
Medicare wages (box 5)	=	$79,002.50
Medicare W/H (box 6)	=	$1,145.54

In addition, the Joneses own a small four-unit rental at 12345 Rainbow Way, Sultan, WA 98294. The rental was purchased and placed in service on July 1, 2003, and was rented for the entire year. 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.

Rental income	$24,000
Real estate taxes	2,000
Utilities	1,500
Mortgage interest	3,800
Depreciation	7,200
Repairs and maintenance	1,300

Prepare the Joneses' federal tax return for 2015. Use Form 1040, Schedule A, Schedule E, and any other appropriate schedules. Assume they do not qualify for any credits (although they may). If using tax software, the software will calculate Child Tax Credit automatically. The taxpayers had qualifying health care coverage at all times during the tax