Solve the following problem:

Depreciation on the house would be $2,909 for 2019 computed as follows: $80,000 X .03636 = $2,909. The rate of 3.636% is per table A-6 [ years 2 to 9 ], page 70 of Publication 946 (2018 version) and page 6-30 to 6-31 of text (27 1/2 years). [ the 2019 version will be out in 1/2020 ] 0 Proceeds from the November 5, 2019 sale of Lori's personal automobile, for which she paid $4,500 in 2012, $3, 100. Potential itemized deductions, in addition to items already mentioned, were: Charitable contributions $6,600 Mortgage interest on residence 11,600 Real property taxes 5,700 Personal property taxes 300 State and local sales taxes 3,000 Medical expenses (less reimbursements) 350 Albert receives a bonus of $5,000 in January 2020 associated with the outstanding performance of his unit in 2019. Lori Ann and Albert made estimated tax payments of $4,000. ompute their net tax payable or refund due for 2019 OTES: (1) Complete forms 1040, schedules A, B and D. (2 ) If needed. instructions can be viewed at IRS.gov ) . (3) Explain why any amounts above were not included in your calculations. (4) Show all computations on a supporting schedule. (5 ) Assume that Albert's father purchased the land on 1/15/2004. (6) The net income or loss from the mountain home would be recorded on Schedule E and Form 4562, if the forms are needed. If the forms are needed, enter the net profit or loss on Form 1040, line 6(a). Do not complete Schedule E and Form 4562 (instructor to provide these with the solution). See pages 7-24 to 7-26 of the text for a discussion on this topic. (7) Enter the estimated tax payments on line 16 of Form 1040