The Schedule A tax form allows taxpayers to itemize their deductions, rather than using the standard deduction. For this assessment, you will determine itemized deductions for the Weavers for Schedule A.

Scenario

Jacob and Taylor Weaver, ages 45 and 42 respectively, are married and are filing jointly in 2018.

• They have three children, Ashley, age 9; Patrick, age 6; and John, age 17.
  • Social Security numbers are: Jacob, 222-33-4444; Taylor, 555-66-7777; Ashley, 888-99-1234; Patrick, 789-56-4321; John, 123-45-6789.
• Taylor works part-time as a paralegal.
  • She earned $31,000 in 2018.
• Income Taxes: $4,200 withheld.
• Interest received from Local Bank: $6,575.
• Estimated tax payments: $25,000.
  • $350 paid with their 2017 state tax return.
• Jacob and Taylor bought their first house in 2018.
  • Home mortgage interest: $12,246.
  • Property tax: $12,230.
• Federal income withholding: $2,350.
• Charities: $4,500.
• $435 to rent a moving truck.
• $8,000 to put new siding on the house.
• $11,600 for child care expenses ($5,800 for each child).
  • It was paid to Lil Tigers Daycare, 1115 S. Garrison St., Muncie, IN 47305 (EIN 98-7654321).
• Taylor is a part-time student at Ball State University in Muncie.
  • She received a 1098-T indicating tuition and fees for 2018 in the amount of $6,011.
• Health insurance for the family, through Taylor's job, cost $7,500 for all 12 months of 2018.
• They paid deductibles and co-payments of $2,550.