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Seeley and Temperance Booth are married and file a joint return. Their Social Security numbers are 000-00- 1111 and 000-00-2222, respectively. Sealy and Temperance
Seeley and Temperance Booth are married and file a joint return. Their Social Security numbers are 000-00- 1111 and 000-00-2222, respectively. Sealy and Temperance have one daughter, Christine, age 5, and one son, Hank, age 2. Christine's Social Security number is 000-00-3333 and Hank's is 000-00-4444. They live at 1212 Jefferson Dr, Bethesda, MD 20810. During 2021, they report the following items: Salary from W-2 (Sealy $74,000, Temperance $132,000) Federal tax withheld State tax withheld Interest income from money market accounts Qualified dividend income from Reichs Corp. stock Cash contributions to charity Rental of a condominium in Annapolis Rental income (75 daysl Interest Expense Property taxes Maintenance Insurance Days of personal use. $206,000 19,000 12,360 1,900 3,700 9,000 15,000 7,000 5,200 1,700 2,300 25 The address of the condo is 3737 S Figueroa St, Annapolis, MD 21401. It was purchased in 2008 for $200,000 During the year the following events also occur They received a state tax refund of $600. Their total itemized deductions in 2020 Are 542,792 b. On June 20, 2021, Temperance sells 400 shares of Sweets Corporation stock for $20,000. She purchased the stock on December 12, 2009 for $22,000. c. On September 19, 2021, Seeley discovers that the 4,000 shares of penny stock of Parker, Inc. he purchased on January 2 of the prior year is completely worthless. He paid 56.300 for the stock d. Instead of accepting the 560 the utility store offers for their old dishwasher, they donate it to Goodwill on November 21, 2021. They purchased the dishwasher for $750 on March 30, 2014. The new dishwasher costs $900 e. They purchased the residence at 1212 Jefferson Dr on April 15, 2021 for $350,000. As part of the closing costs, they pay two points on the mortgage, which is interest rather than toan processi fees. This payment enables them to obtain a more lavorable interest rate for the term of the loan They also paid $8,400 in mortgage interest and $4,100 in property taxes on their personal residence. 1. On July 20, 2021, they donate 1,000 shares of Squint, inc stock to the local community college. The value of the stack on that date is $13,700, Squint, Inc. is a listed stock. They had purchased the stock on November 10, 2008 for $1.000 They incur 55.000 of hospital expenses when Seeley is injured while hiking. They also spend $250 on prescriptions and 5800 on follow-up doctor visits h. They paid $12,000 for child care during the year, $5,000 for each child, to Lily Pads Child Care, 9205 Fernwood Rd, Bethesda, MD 20817, IDE 99 88 For purposes of this assignment, disregard the alternative minimum tex
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