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Richard and Tina Bench live at 230 Main Street, Platteville, WI 53818, and their Social Security numbers are 233-43-4523 and 342-22-3476. They have one child,

Richard and Tina Bench live at 230 Main Street, Platteville, WI 53818, and their Social Security numbers are 233-43-4523 and 342-22-3476. They have one child, Tony, who is eight years old. Tonys Social Security number is 456-34-6578. Richard's salary from a night guard job and income tax withholding for the year are as follows:

Wages $56,000

Interest earned on savings account $1,600

Federal income tax withheld $5,000

State income tax withheld $2,000

Richard contributed $4,000 to his IRA account. The Benches moved from Florida to Wisconsin in the beginning of the current year. Their moving expenses include (all non-reimbursed):

Cost of moving furniture $3,500

Transportation costs $400

Lodging $200

Meals $160

House hunting trip before the move $900

Tina started and managed the Istanbul Caf. Revenue and expenses for the year are presented below:

Revenue $70,000

Beginning inventory of merchandise inventory $0

Ending inventory of merchandise inventory $3,500

Merchandise supplied purchased $17,000

Wages $8,500

Utilities $1,500

Rent expenses $7,800

Advertisement expenses $2,000

Payroll taxes $680

Subcontractor $2,200

Other $500

Richard and Tina own a house in Platteville that they rent to the students for $800 per month. They incur the following expenses for the year (11 months):

Real estate taxes $3,000

Mortgage interest $4,200

Repairs $400

Depreciation $3,000

Prepare Form 1040 for the most current year for the Benches along with Schedules C and E. Submit the tax return to your instructor for evaluation.

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