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Skylar and Walter Black have been married for 2 5 years. They live at 8 8 3 Scrub Brush Street, Unit 5 2 B ,
Skylar and Walter Black have been married for years. They live at Scrub Brush Street, Unit B Las Vegas, NV Skylar is selfemployed and Walt is a high school teacher. Skylars Social Security number is and Walts is Walters birthdate is January and Skylars is February The Blacks provide all the support for Skylars mother, Rebecca Backin Social Security number who lives in a nursing home in Reno, NV and has no income.
Walters father, Alton Black Social Security number lives with the Blacks in Las Vegas. Although Alton received Social Security benefits of $ in the Blacks provide more than half of Altons support. If Rebecca or Alton qualify as dependents, Skylar and Walt can claim a $ other dependent credit for each.
Walts earnings from teaching are:
A W form shows details of Walter Blacks earnings and income tax withholdings for The form is divided into two Panels. The O M B number is The first panel contains a to f sections. It shows filledin fields for the following: a employees social security number: highlighted b employer identification number E I N: c employers name, address, and ZIP code: information about Las Vegas School District, e employees first name, initial, and last name, and f employees address and ZIP code. To be filledin field in this panel is d control number. The second panel contains to sections. It shows filledin fields for Wages, tips, other compensation: highlighted Federal income tax withheld: highlighted Social security wages: Social security tax withheld: Medicare wages and tips: Medicare tax withheld: a See instructions for box : D D Retirement plan checked, and State: N V employees state I D number. To be filledin fields for this panel are: Social security tips, Allocated tips, Dependent care benefits, Nonqualified plans, b c d Other, State wages, tips, etc., State income tax, Local wages, tips, etc., Local income tax, and Locality name. A footnote below the form reads, Form W Wage and Tax Statement Copy BTo Be Filed With Employees FEDERAL Tax Return. This information is being furnished to the Internal Revenue Service. Department of the TreasuryInternal Revenue Service.
The Blacks moved from Maine to Nevada. As a result, they sold their house in Maine on January They originally paid $ for the home on July but managed to sell it for $ They spent $ on improvements over the years.
The Blacks own a ski condo located at Buncombe Lane, Brian Head, UT The condo was rented for days during and used by the Blacks for days. The rental activity does not rise to the level to qualify for the QBI deduction. Pertinent information about the condo rental is as follows:
Rental income
$
Mortgage interest reported on Form
Homeowners association dues
Utilities
Maintenance
Depreciation assume fully depreciated
The above amounts do not reflect any allocation between rental and personal use of the condo. The Blacks are active managers of the condo.
Skylar runs a small car wash in Las Vegas as a sole proprietor. The business name is AA Car Wash and is located at Cutler Ave NE Las Vegas, NV The employer identification number is She uses the cash method of accounting and does not track inventory of the sundries she sells air fresheners, etc. She therefore does not have beginning or ending inventories and recognizes the cost as supplies expense. The business code for a car wash is Her financial results for were as follows:
The business office at the car wash is not conducive to any type of work. It is basically a glorified broom closet. As a result, Skylar has a home office in their primary residence which they rent The office is square feet in their square foot home. They pay rent of $ per year and their utilities are $
In Walter loaned his friend, Hank Shorter $ In Hank declared bankruptcy and Walter is certain he will never get paid.
Walt is attending the Las Vegas Polytechnical University, pursuing a masters degree in chemistry. His employer has an education assistance program that paid Walt $ in His total tuition was $ The remaining tuition was paid for through the Los Gatos Hermanos Foundation scholarship for adult learners.
Walter has been experimenting with a new candy formula in his garage chemistry lab. He has been working on a new blueberry flavor that tastes more like real blueberries. For the past few years, he has spent between $ and $ per year on this venture but has
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