10:50 2019 Tax Return #2... Q Tax Return Problem Name: John Hand Daisy A Ortega, are married and live at 6111 First St., Tulsa OK, 74156. John's social security number is 555-55-5555 and Daisy's is 222-22-2222. John's date of birth is 7/1/77 and Daisy's is 8/1/79. They will file MEJ. They have two dependent children: Erika, date of birth 5/1/2001 and Jonathon, date of birth 9/1/2011. Their ss #s are 333-11-3333, and 444-55-4444 respectively. John works for Manning Industries as an HR manager and Daisy works for Newsome Construction, Inc as their controller Income for 2019 John's 2019 W-2 salary and bonuses reported: $55,000 federal withholding was $4,000; OK state w/holding was $5,250) Daisy's 2019 W-2 salary reported: $102,000 federal withholding was $6,000; OK state w/holding was $9,000) Interest income on a City of Tulsa bond: 2,400 Interest income of CD (certificate of deposit) held at First Bank: 3,100 Exxon Corporation dividends (qualified) 1,000 2019 Expenses Dentist expenses (all paid by Ortegas, they do not have dental insurance): $500 Braces for Erika (charged to credit card on 12/30/19) 2,000 Over the counter vitamins (iron to help with Daisy's diagnosed anemia) 400 Hospital bill (Total bill was $20,000. Insurance covered $16,000 and the Ortegas paid the remainder on 5/1/19) 2018 Property taxes on residence paid on 1/31/19 3,600 2019 Property taxes on residence paid on 12/30/19 3,700 2019 Interest on home mortgage reported on Form 1098 by Bank of America 7,700 Contribution to CASA made by check and mailed on 12/31/19 800 Contributions to First Baptist Church during 2019 10,000 John's unreimbursed employee expenses for an HR conference he attended $500 WARNINGI ADDITIONAL INFORMATION ON THE NEXT PAGE NEEDED TO COMPLETE THE RETURNI ADDITIONAL INFORMATION Daisy also donated household items (furniture & clothing) to their local Goodwill on 1111 Goodson St, Tulsa 74156 on December 5, 2019. The items were purchased new for about $5,000 several years ago. Their current thrift shop value is about $600. John and Daisy also sold some stock they owned. They sold: 1,000 shares of Transocean, Ltd (RIG) on November 28, 2019 sold for $9,750. They purchased the stock on December 21, 2018 for $15,500. The cost basis was reported to the IRS on form 10998. On January 1, 2019, Daisy's mother gifted Daisy and John a piece of land which they have decided to hold as an investment. The land was worth $50,000 at the time of the gift and Daisy's mother originally purchased it in 1989 for $10,000. Daisy and John paid real estate property taxes on the land in 2019 in the amount of $300. To be completed individually using Intuit Proconnect online. Go to TaxEducation.Intuit.com to register for a free account. Use your UTTYler email account and when asked, enter that you are a student or education rather than a firm. You can start by clicking on "create tax return" and then "+add new" for client. Enter your client information and then create a new 2019 tax return. From the "input return" screen, find the necessary pages to input various client information. At any time, you can click on the preview forms" button to see what they return looks like on the actual 1040 and other forms. You may also find it useful to click on the "check return" box and view the critical diagnostics and suggestions. Most of them will be irrelevant since we are not actually filing this return (for example, it may warn you that you did not enter the employer's EIN number). But some of them may help you. To create a PDF of the return, go to "file return", then "print", then create PDF". Save the PDF and upload here in Canvas. This will be completed individually, and each student will turn in their own assignment in class. 10:50 2019 Tax Return #2... Q Tax Return Problem Name: John Hand Daisy A Ortega, are married and live at 6111 First St., Tulsa OK, 74156. John's social security number is 555-55-5555 and Daisy's is 222-22-2222. John's date of birth is 7/1/77 and Daisy's is 8/1/79. They will file MEJ. They have two dependent children: Erika, date of birth 5/1/2001 and Jonathon, date of birth 9/1/2011. Their ss #s are 333-11-3333, and 444-55-4444 respectively. John works for Manning Industries as an HR manager and Daisy works for Newsome Construction, Inc as their controller Income for 2019 John's 2019 W-2 salary and bonuses reported: $55,000 federal withholding was $4,000; OK state w/holding was $5,250) Daisy's 2019 W-2 salary reported: $102,000 federal withholding was $6,000; OK state w/holding was $9,000) Interest income on a City of Tulsa bond: 2,400 Interest income of CD (certificate of deposit) held at First Bank: 3,100 Exxon Corporation dividends (qualified) 1,000 2019 Expenses Dentist expenses (all paid by Ortegas, they do not have dental insurance): $500 Braces for Erika (charged to credit card on 12/30/19) 2,000 Over the counter vitamins (iron to help with Daisy's diagnosed anemia) 400 Hospital bill (Total bill was $20,000. Insurance covered $16,000 and the Ortegas paid the remainder on 5/1/19) 2018 Property taxes on residence paid on 1/31/19 3,600 2019 Property taxes on residence paid on 12/30/19 3,700 2019 Interest on home mortgage reported on Form 1098 by Bank of America 7,700 Contribution to CASA made by check and mailed on 12/31/19 800 Contributions to First Baptist Church during 2019 10,000 John's unreimbursed employee expenses for an HR conference he attended $500 WARNINGI ADDITIONAL INFORMATION ON THE NEXT PAGE NEEDED TO COMPLETE THE RETURNI ADDITIONAL INFORMATION Daisy also donated household items (furniture & clothing) to their local Goodwill on 1111 Goodson St, Tulsa 74156 on December 5, 2019. The items were purchased new for about $5,000 several years ago. Their current thrift shop value is about $600. John and Daisy also sold some stock they owned. They sold: 1,000 shares of Transocean, Ltd (RIG) on November 28, 2019 sold for $9,750. They purchased the stock on December 21, 2018 for $15,500. The cost basis was reported to the IRS on form 10998. On January 1, 2019, Daisy's mother gifted Daisy and John a piece of land which they have decided to hold as an investment. The land was worth $50,000 at the time of the gift and Daisy's mother originally purchased it in 1989 for $10,000. Daisy and John paid real estate property taxes on the land in 2019 in the amount of $300. To be completed individually using Intuit Proconnect online. Go to TaxEducation.Intuit.com to register for a free account. Use your UTTYler email account and when asked, enter that you are a student or education rather than a firm. You can start by clicking on "create tax return" and then "+add new" for client. Enter your client information and then create a new 2019 tax return. From the "input return" screen, find the necessary pages to input various client information. At any time, you can click on the preview forms" button to see what they return looks like on the actual 1040 and other forms. You may also find it useful to click on the "check return" box and view the critical diagnostics and suggestions. Most of them will be irrelevant since we are not actually filing this return (for example, it may warn you that you did not enter the employer's EIN number). But some of them may help you. To create a PDF of the return, go to "file return", then "print", then create PDF". Save the PDF and upload here in Canvas. This will be completed individually, and each student will turn in their own assignment in class