Without Critical Thinking Assignments this week, this is your opportunity (and a requirement) to work on your Portfolio Project. Obtain the supporting information from your Portfolio Project option. You will also use the Schedule A template included under that same option.

Show all calculations within the cells of the template. This means that you must use formulas and links so that the thought process can be examined. Make good use of comments to convey your thought process as well; no hard coding of solutions. Submit a single MS Excel file for grading.

Review the Portfolio Project Milestone Rubric in the Module 5 Materials folder to understand how you will be graded on the project. You must address instructor feedback when submitting your complete Portfolio Project during week 8.

The deliverable is as follows:

The completed Form 1040-Schedule A template.

Information Provided:

Taxpayer Information

Name: Bryan Jones

Address: 1200 Main St.

Green Bay, Wisconsin 12345

DOB: 5/6/1976

Filing Status: Single

SSN: 500-10-2000

Occupation: Staff Accountant

Wages and Compensation

The following information is taken from Bryan Jones 2017 Form W-2 Wage and Tax Statement:

Box 1 Wages, tips, and other compensation	52,000
Box 2 Federal Withholding	8,750
Box 17 State Income Tax Withholding	1,000

Interest and Dividends

Bryan has some Certificates of Deposits are Main Street bank which yielded 3,750 in interest in

2017. In addition, Bryan has interest income from municipal bonds in the amount of 1,250.

Also, Bryan received $2100 in qualified dividends from Plum Electronic Co.

Profit/Loss from Business

Bryan has a part-time accounting services business. In 2017, his income and expenses are as f follows:

Service Revenue 7,000

Office Expense 500

Advertising 750

Capital Gains

Bryan had the following stock transactions in 2017:

He sold 1,000 shares of Apex Co. for $ 12,000 on June 7, 2016, which he purchased on April 1, 2014 for 25,000. In addition, he sold 750 shares of Velocity Inc. for $10,000 on September 1, 2016, which he purchased on December 1, 2015 for $5,000.

Rental Real Estate

Bryan owns a rent house which he purchased on July 1, 2014. The income and expenses of the rental real estate unit for 2017 are as follows:

Rental income $12,000

Property taxes $1,500

Depreciation $1,000

Repairs and Maintenance $750

Insurance $2,000

Other Transactions in 2017

1. Bryan received a gift of $4,000 from his brother.

2. Bryan paid $3,000 for the year in alimony to his ex-wife, per divorce decree.

3. Bryan had gambling winnings of $1,000.

4. Bryan was the beneficiary of his mothers life insurance policy.

His mother died in 2017 and he received $50,000 under this policy.