Rick and Jessica are a married couple with one child Margaret Margaret is 11 years old and lives at home with Rick and Jessica. It is best for Rick and Jessica to use the married filing joint filing status.

Rick still paying off some debt from when he was in college he received a tax form in the mail stating that he paid $2100 of student loan interest in 2022. Jessica does not have any student loans. However, she is currently taking a bakery classes at a local community college, her employer pay for all of her tuition in the tax year which total of $4000.

Ricks W-2 reported $101,000 of federal taxable income and $8300 of federal tax withheld. Ricks W-2 also report $1000 of state tax withheld and $600 of local tax withheld just because W-2 reported $91,000 of federal taxable income, 9500 of the federal tax withheld, 1420 of state tax withheld and 800 of local tax withheld

Rick and Jessica owner home they paid $2500 of home mortgage interest in 2022. They made 4400 of qualified charitable contributions in 2022 Rick and Jessica purchased some bitcoin in 2018. They sold all of it in 2022. Their cost basis in the big coin was $3000. They sold it for $35,000.

Jessica on the side business in which she makes cupcakes that are sold a few local grocery stores are businesses call Jessicas fabulous cupcakes in 2022 Jessica fabulous cupcakes brought in $5800 in revenue in encourage $2700 of expenses

Notes for your return you will need to assess whether the standard deduction for itemized deductions for Rick and Jessica

Please remember that Jessica side business is subject for the self-employment tax

Remember the child tax credit

You will need to use the form 8949 and schedule d for the bitcoin sale