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what goes on the tax return and where Besides the items previously noted, the Taxpayers had the following additional receipts for 2019: $2.800 Interest income:
what goes on the tax return and where
Besides the items previously noted, the Taxpayers had the following additional receipts for 2019: $2.800 Interest income: City of Carbondale bonds $1.200 General Motors corporate bonds 1,400 Castle Bank certificate of deposit 200 Loan repayment received from a friend, Sarah Taxpayer-Caine Cash gifts from Mary's parents State income tax refund (2018 return) 4,500 32,000 1,290 9. In addition to the items already noted, the Taxpayers had the following expenditures for 2019: Mary's contribution to her traditional IRA Net gambling loss Life insurance premiums Medical and dental expenses not covered by insurance $3,000 2,000 1,800 4,200 $6,700 3,000 3,200 Taxes: Real estate taxes on personal residence Real estate taxes on 40 acres in Missouri State and local sales taxes Interest on home mortgage Cash Contributions: Goodwill (Carbondale branch) Illinois governor's election campaign 5,800 1,200 300 1,500 The $2,000 net gambling loss for 2019 is the difference between the Taxpayers' gambling winnings of $4,000 and losses of $6,000. Included in the medical expenses are $1,200 incurred in 2018, which was paid in early June 2019. The Taxpayers can substantiate the $3,200 in sales taxes paid based on their purchase receipts for the year. Besides the items previously noted, the Taxpayers had the following additional receipts for 2019: $2.800 Interest income: City of Carbondale bonds $1.200 General Motors corporate bonds 1,400 Castle Bank certificate of deposit 200 Loan repayment received from a friend, Sarah Taxpayer-Caine Cash gifts from Mary's parents State income tax refund (2018 return) 4,500 32,000 1,290 9. In addition to the items already noted, the Taxpayers had the following expenditures for 2019: Mary's contribution to her traditional IRA Net gambling loss Life insurance premiums Medical and dental expenses not covered by insurance $3,000 2,000 1,800 4,200 $6,700 3,000 3,200 Taxes: Real estate taxes on personal residence Real estate taxes on 40 acres in Missouri State and local sales taxes Interest on home mortgage Cash Contributions: Goodwill (Carbondale branch) Illinois governor's election campaign 5,800 1,200 300 1,500 The $2,000 net gambling loss for 2019 is the difference between the Taxpayers' gambling winnings of $4,000 and losses of $6,000. Included in the medical expenses are $1,200 incurred in 2018, which was paid in early June 2019. The Taxpayers can substantiate the $3,200 in sales taxes paid based on their purchase receipts for the year Step by Step Solution
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