Prepare Phillip and Claire's 2022 Federal Tax Return, and fill out the following forms: Form 1040, Schedule 1, Schedule 2, Schedule A, B, C, D, SE, Form 8949, Form 8995

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TAXPAYER INFORMATION 1. Phillip and Claire Kirkland, ages 45 and 43, are married and live at 584 Cherry Drive, Boston, MA 59483. Phillip's Social Security number is 111-11-1111 and Claire's is 222- 22-2222. The Kirkland have two children: Alexa, age 23, and Luke, age 19. Their Social Security numbers are 333-33-3333 and 444-44-4444, respectively. Alexa is a single college student and earned $8,000 during the summer. Phillip and Claire help Alexa through school by paying for her room, board, and tuition. Alexa lives at home during the summer. Luke has a physical handicap and lives at home. He attends a local university and earned $4,000 working for a marketing firm. In sum, Phillip and Claire provide more than 50% of both Alexa's and Luke's total support for the year. 2. Phillip is a Data Analyst for a small firm. His salary is $95,000, from which $19,000 of federal income tax and $8,000 of state income tax were withheld. 3. Claire owns Zane Consulting, a sole proprietorship that does fashion consulting. During the year, Claire's gross revenues were $23,000. She incurred the following expenses: Insurance Software rental Journals and magazines Training seminars Supplies Donations to political campaign fund $ 700 5,400 150 1,200 1,300 800 4. Phillip and Claire paid $2,000 of health insurance premiums for the year for their family. In addition, Luke's physician recommended that he see a physical therapist to help with his disability. Phillip paid the therapist $7,000 during the year because his insurance would not cover the bills. 5. Phillip enjoys playing guitar as a hobby and plays in a band. Phillip's band has developed a local following. This year, his gross revenues were $1,200 for playing shows and $700 on CD sales. He incurred the following expenses: Studio rent expenses Sound system repairs CD Production New guitar and amplifier $1,300 200 500 800 6. Claire purchased 100 shares of Grubhub Co. stock on May 1, 1992, for $1,000. Grubhub Co. was declared bankrupt during the current year. TAXPAYER INFORMATION 1. Phillip and Claire Kirkland, ages 45 and 43, are married and live at 584 Cherry Drive, Boston, MA 59483. Phillip's Social Security number is 111-11-1111 and Claire's is 222- 22-2222. The Kirkland have two children: Alexa, age 23, and Luke, age 19. Their Social Security numbers are 333-33-3333 and 444-44-4444, respectively. Alexa is a single college student and earned $8,000 during the summer. Phillip and Claire help Alexa through school by paying for her room, board, and tuition. Alexa lives at home during the summer. Luke has a physical handicap and lives at home. He attends a local university and earned $4,000 working for a marketing firm. In sum, Phillip and Claire provide more than 50% of both Alexa's and Luke's total support for the year. 2. Phillip is a Data Analyst for a small firm. His salary is $95,000, from which $19,000 of federal income tax and $8,000 of state income tax were withheld. 3. Claire owns Zane Consulting, a sole proprietorship that does fashion consulting. During the year, Claire's gross revenues were $23,000. She incurred the following expenses: Insurance Software rental Journals and magazines Training seminars Supplies Donations to political campaign fund $ 700 5,400 150 1,200 1,300 800 4. Phillip and Claire paid $2,000 of health insurance premiums for the year for their family. In addition, Luke's physician recommended that he see a physical therapist to help with his disability. Phillip paid the therapist $7,000 during the year because his insurance would not cover the bills. 5. Phillip enjoys playing guitar as a hobby and plays in a band. Phillip's band has developed a local following. This year, his gross revenues were $1,200 for playing shows and $700 on CD sales. He incurred the following expenses: Studio rent expenses Sound system repairs CD Production New guitar and amplifier $1,300 200 500 800 6. Claire purchased 100 shares of Grubhub Co. stock on May 1, 1992, for $1,000. Grubhub Co. was declared bankrupt during the current year.

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To prepare Phillip and Claire Kirklands 2022 Federal Tax Return I will fill out the following forms ... View the full answer