Comprehensive Problem 42Bes an EIN or inventory e number on the lines 1d 3 an Ryan and Blake Lovely are married filing jointly taxpayers Ryans birthdate is August 10 1983 and Social Security number is 434144448 Blakes birthdate is March 19 1984 and their Social Security number is 763161562 They live at 22 Thornton Road Nashua NH 03063 Both are selfemployed The Lovelys received the following statement from their brokerage account see separate tab The US Treasury interest is associated with bonds that also have market discount The accrued market discount in 2023 was 4702 The Lovelys elect to recognize market discount in the year earned Blake started a new life coach business in 2023 as a sole proprietor The business office is located at 4 Townsend W Suite 8 Nashua NH 03063 The business code is 812990 The financial results are Line Item Description Amount Client revenue 5000 Office rent expense 14000 Supplies 1000 Utilities 500 Telephone 400 During 2023 Ryan invested in Vaporcoin a virtual currency He purchased 40 units of Vaporcoin for 3000 on February 2 2023 On May 15 2023 he exchanged the Vaporcoin into dollars when the value was 3500 He did not receive a 1099B from the Vaporcoin account Ryan also operates a small business teaching fitness classes in a park near their house The business code is 812190 Ryan has a loyal clientele and the books and records show the following Line Item Description Amount Exercise class receipts 5000 Exercise clothes 1000 Various exercise supplies 1800 The exercise clothes that Ryan purchased are not dissimilar to any other type of workout clothing Neither business has employees an EIN or inventory Both businesses are accounted for using the cash basis of accounting Ryan and Blake own a rental property located at 52 Charlotte Ave Nashua NH 03064 The condo was rented all year but is in need of an update The condos finances are as follows Line Item Description Amount Rent 8000 Interest 10000 Property taxes 4000 Utilities 1400 Maintenance 500 Ryan and Blake made a 500 estimated payment on September 15 2023 Required Complete the Lovelys federal tax return for 2023 Use Form 1040 Schedule 1 Schedule 2 Schedule B Schedule C two of them Schedule D Form 8949 Schedule E Schedule SE Form 8995 Form 8582 page 1 only to complete this tax return Also to compute the Lovelys net operating loss carryforward prepare only Schedule A of Form 1045 Assume the taxpayers had health coverage for the entire year Neither taxpayers wants to contribute to the presidential election campaign If an amount box does not require an entry or the answer is zero enter 0 Do not round any percentages If required round your answers to the nearest dollar If required enter a loss as a negative number on the tax form Do not enter deductions as negative numbers Special Instructions for Schedule B In Part I for Interest enter items from 1099 in Box order first then enter any other interest items If required on Form 8582 use the minus sign to enter a loss as a negative number on the lines 1d 3 and 11 However per the instructions on the tax return enter all numbers in Part II as positive amounts