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To complete this assignment, read the scenario below then complete the 2019 Schedule A, thanks. Scenario John and Julia are married and have two children.

To complete this assignment, read the scenario below then complete the 2019 Schedule A, thanks. image text in transcribed
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Scenario John and Julia are married and have two children. John works as a graphic designer for a design firm and Julia is a massage therapist. She is an employee and is not self-employed. They own a vacation home in Colorado that is used 30% for personal purposes (assume it is used 70% as a rental property and the income and expenses related to the rental have been accounted). During the year they receive $700 in reimbursements from their medical plan and report $5,000 of investment income (included in AGI). They contributed stock, with a fair market value of $3,150, which they acquired in 2005 at a cost of $1,800 to Ohlone College. Their gambling winnings for the year were $1,500 and are included in their adjusted gross income. Their adjusted gross income for the year is $101,000 and they provide you with the following data: Automobile insurance Homeowners insurance Life insurance Disability insurance Health insurance premiums (paid on an after-tax basis) Country club dues Gym membership Hospital bills Doctor bills Aroma Therapy Dentist bills Prescription medications Over-the-counter medications State taxes withheld Property taxes (ad valorem) Investment interest Mortgage interest (primary residence) Real estate taxes (primary residence) Mortgage interest (vacation residence - unallocated) Real estate taxes (vacation residence- unallocated) Charitable contributions (cash; they have receipts) Charitable contribution (clothes at FMV) Chenin instanterianale 1,450 625 1,200 475 1,650 1,600 850 5,100 1,475 700 3,710 285 470 8,350 500 1,600 7.100 2,040 2.650 1,520 7,850 200 Automobile insurance Homeowners insurance Life insurance Disability insurance Health insurance premiums (paid on an after-tax basis) Country club dues Gym membership Hospital bills Doctor bills Aroma Therapy Dentist bills Prescription medications Over-the-counter medications State taxes withheld Property taxes (ad valorem) Investment interest Mortgage interest (primary residence) Real estate taxes (primary residence) Mortgage interest (vacation residence - unallocated) Real estate taxes (vacation residence - unallocated) Charitable contributions (cash; they have receipts) Charitable contribution (clothes at FMV) Subscriptions to investment journals Dues to professional organizations Tax prep fees Investment advice Parking at work Safe-deposit box 1,450 625 1,200 475 1,650 1,600 850 5,100 1,475 700 3,710 285 470 8,350 500 1,600 7,100 2,040 2,650 1,520 7,850 200 150 400 550 650 250 700 Gambling losses Unreimbursed employee business expenses (the full amounts paid and unreimbursed) Airfare 500 Lodging 450 Meals 290 Entertainment 280 Incidentals 250 Questions to answer on D2L: Enter the following amounts from the 2019 Schedule A. Fill in the Blanks: Remember to enter only whole numbers with no commas, periods, or symbols. Linel: Line 2: Line 3: Line 4: Line 5a: Line Sb: Line 5c: Line 5d: Questions to answer on D2L: Enter the following amounts from the 2019 Schedule A. Fill in the Blanks: Remember to enter only whole numbers with no commas, periods, or symbols. Linel: Line 2: Line 3: Line 4: Line 5a: Line 5b: Line 5c: Line 5d: Line 5e: Line 6: Line 7: Line 8a: Line 8b: Line 8c: Line 8e: Line 9: Line 10: Line 11: Line 12: Line 14: Line 15: Line 16: Line 17: Multiple Choice Will they itemize or use the standard deduction? Multiple choice options itemize, standard deduction How many personal and dependency exemptions will they receive? Multiple choice options 0, 1, 2, 3, 4, 5 By how much are their charitable contributions limited? a. $0 b. $20,387 c. $30,300 d. $101,000 What would reduce their tax liability more? a. An additional $500 state taxes paid. b. An additional $200 mortgage interest paid. c. a and b are both the same. True or False The box by 5a should be checked. TF The box by Sa should be checked. TF The box on line 18 should be checked. TF Scenario John and Julia are married and have two children. John works as a graphic designer for a design firm and Julia is a massage therapist. She is an employee and is not self-employed. They own a vacation home in Colorado that is used 30% for personal purposes (assume it is used 70% as a rental property and the income and expenses related to the rental have been accounted). During the year they receive $700 in reimbursements from their medical plan and report $5,000 of investment income (included in AGI). They contributed stock, with a fair market value of $3,150, which they acquired in 2005 at a cost of $1,800 to Ohlone College. Their gambling winnings for the year were $1,500 and are included in their adjusted gross income. Their adjusted gross income for the year is $101,000 and they provide you with the following data: Automobile insurance Homeowners insurance Life insurance Disability insurance Health insurance premiums (paid on an after-tax basis) Country club dues Gym membership Hospital bills Doctor bills Aroma Therapy Dentist bills Prescription medications Over-the-counter medications State taxes withheld Property taxes (ad valorem) Investment interest Mortgage interest (primary residence) Real estate taxes (primary residence) Mortgage interest (vacation residence - unallocated) Real estate taxes (vacation residence- unallocated) Charitable contributions (cash; they have receipts) Charitable contribution (clothes at FMV) Chenin instanterianale 1,450 625 1,200 475 1,650 1,600 850 5,100 1,475 700 3,710 285 470 8,350 500 1,600 7.100 2,040 2.650 1,520 7,850 200 Automobile insurance Homeowners insurance Life insurance Disability insurance Health insurance premiums (paid on an after-tax basis) Country club dues Gym membership Hospital bills Doctor bills Aroma Therapy Dentist bills Prescription medications Over-the-counter medications State taxes withheld Property taxes (ad valorem) Investment interest Mortgage interest (primary residence) Real estate taxes (primary residence) Mortgage interest (vacation residence - unallocated) Real estate taxes (vacation residence - unallocated) Charitable contributions (cash; they have receipts) Charitable contribution (clothes at FMV) Subscriptions to investment journals Dues to professional organizations Tax prep fees Investment advice Parking at work Safe-deposit box 1,450 625 1,200 475 1,650 1,600 850 5,100 1,475 700 3,710 285 470 8,350 500 1,600 7,100 2,040 2,650 1,520 7,850 200 150 400 550 650 250 700 Gambling losses Unreimbursed employee business expenses (the full amounts paid and unreimbursed) Airfare 500 Lodging 450 Meals 290 Entertainment 280 Incidentals 250 Questions to answer on D2L: Enter the following amounts from the 2019 Schedule A. Fill in the Blanks: Remember to enter only whole numbers with no commas, periods, or symbols. Linel: Line 2: Line 3: Line 4: Line 5a: Line Sb: Line 5c: Line 5d: Questions to answer on D2L: Enter the following amounts from the 2019 Schedule A. Fill in the Blanks: Remember to enter only whole numbers with no commas, periods, or symbols. Linel: Line 2: Line 3: Line 4: Line 5a: Line 5b: Line 5c: Line 5d: Line 5e: Line 6: Line 7: Line 8a: Line 8b: Line 8c: Line 8e: Line 9: Line 10: Line 11: Line 12: Line 14: Line 15: Line 16: Line 17: Multiple Choice Will they itemize or use the standard deduction? Multiple choice options itemize, standard deduction How many personal and dependency exemptions will they receive? Multiple choice options 0, 1, 2, 3, 4, 5 By how much are their charitable contributions limited? a. $0 b. $20,387 c. $30,300 d. $101,000 What would reduce their tax liability more? a. An additional $500 state taxes paid. b. An additional $200 mortgage interest paid. c. a and b are both the same. True or False The box by 5a should be checked. TF The box by Sa should be checked. TF The box on line 18 should be checked. TF

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