Question: ***Hello, I need instructions on how to do this. I am confused on how to include all the information. Assume SSN is 324699813. You can
***Hello, I need instructions on how to do this. I am confused on how to include all the information. Assume SSN is 324699813. You can use any names.*** 



Prepare the Married Filing Joint tax return for Taxpayer and Spouse required based on the facts shown below. Use Taxslayer to prepare your return. Instructions on how to create an account in the Practice Lab are located in the Documents tab in Bb. Print out your return and create a .pdf to submit on Bb. All submissions are on Bb. Remember to make your submission a single electronic file and double check you are submitting to the proper assignment. Your tax return submission is the return for filing along with the Schedules (e.g. A, B, C) and Forms (e.g. 1040,4562,2558 ) other items beyond what would be a complete tax return are not needed (supporting documents and the like). When the reference is "last three" or "last 3 or " L3 " in the materials that refers to the last three numbers in your UT student number. If your UT student ID is 245235 then the "last3" would be 235 . By way of example only, if Mortgage interest is shown as 10L3 then the number a student would use would be $10,235. The return(s) are graded for accuracy. While we talk about 2022 for the most part in class, the 2022 software will not be available until the end of the term or early 2023 so we will be using the 2021 software throughout the term. Use your name as the taxpayer's name on the tax return and in naming the file. If your name is Sarah Spartan then the name of the file you would submit is "WA1Spartan". Create your own 9 digit tax id numbers. Beware, students have been caught submitting the same tax return but only having changed one name or one number in one place. For example, a tax return with Sara Spartan on the first page of the 1040 and Tommy Triton on the Schedule C would implicate both students in an academic integrity case. payer household Information: usehold Members: Married - use one of your parent/guardian names as the name of your spouse using your last name for both. The taxpayer's address is 401W. Kennedy Blvd. Unit L3, Tampa, FL 33606 . The tax return should be completed as married filing joint. Taxpayer: Form W-2: Wages: 100L3, Federal W/H: 15L3, Determine the proper SS and Medicare taxes using 6.2\% and 1.45\% respectively (the Social Security cap in 2021 was 142,800). The employer should be the University of Tampa (tax ID 59-0624459). Child1: Female, age 16 earned \$5L3 babysitting, no expenses, no unearned income. High school junior (fulltime), plays Lacrosse, drives her parents crazy, had two vehicle accidents this year (both her fault, while texting) costing $10,000 in after insurance casualty losses (insurance claims were made). Child2: Male, age 14 , earned $300 cutting the neighbor's lawn, no expenses. \$350 dividends from Proctor \& Gamble stock, 8th grade middle school (fulltime), runs track, rides bicycle, picks fights with sister. Spouse: Leads yoga classes for several studios as an independent contractor through a single member LLC named Hot Yoga of Tampa, LLC (Use Schedule C). Total 1099 revenue: \$25L3, expenses for supplies \$1,031, insurance \$3,200, yoga outfits \$500, Mileage in a 2018 Subaru Crosstrek between studio gigs 5342 miles (spouse prefers the standard mileage rate for deduction) Tolls on the Selmon Crosstown between gigs \$420, Business Licenses City of Tampa, Hillsborough County \$225 Spouse's Mother: Lives in the garage apartment, receives social security of \$1L3 per month, no other income. More than half her support is provided by the spouses. ousehold Information: The family maintains a primary residence in Tampa. A vacation cabin in omossassa Springs was inherited from a relative a year ago. The land and building have a value of 120,000. rimary residence mortgage interest $13L3 rimary Residence Real Estate Taxes: $3800 rimary Residence Mortgage Insurance: \$600 rimary Residence Homeowner's Insurance: \$2,500 rimary Residence Flood Insurance: \$450 acation Cabin in Homossassa Springs Real Estate Taxes: \$1600 acation Cabin in Homossassa Springs Homeowners's Insurance: $600 acation Cabin in Homossassa Springs Flood Insurance: \$450 Charitable Contributions to Qualifying Charities (all in cash) $10,000 Gambling Losses at Seminole Hard Rock $500, Gambling Winnings at Rays 50-50 raffle $500 Rental House (Use Schedule E) : In 2001 Taxpayer purchased a home in Seminole Heights at 118 W Haya Street. The initial purchase price for the land and building was $81,000 (land value was $28,000 ). The total additional investment before the property was inhabited including replacement of the roof, HVAC system and renovation of living spaces was \$20L3. In 2006 Taxpayer and Spouse converted the 118W Haya Street house to residential rental property when they moved (on January 1, 2007) to their current residence at 401W. Kennedy Blvd. The 118W. Haya property is currently rented to a tenant at the monthly rate of $1,225/ month. Other Information about 118W. Haya Street: Annual Mortgage Interest: $4750, Property Taxes $2,100, Homeowner's Insurance $2,200, Flood Insurance $450, Annual Maintenance \$1500, Lawn and Pest Service \$28 per month. Other Income: Savings Account interest from Bank of the South: \$11 Dividends from American Electric Power (reinvested): 1L3 City of Tampa Water Authority Bonds Interest: \$500 Prepare the Married Filing Joint tax return for Taxpayer and Spouse required based on the facts shown below. Use Taxslayer to prepare your return. Instructions on how to create an account in the Practice Lab are located in the Documents tab in Bb. Print out your return and create a .pdf to submit on Bb. All submissions are on Bb. Remember to make your submission a single electronic file and double check you are submitting to the proper assignment. Your tax return submission is the return for filing along with the Schedules (e.g. A, B, C) and Forms (e.g. 1040,4562,2558 ) other items beyond what would be a complete tax return are not needed (supporting documents and the like). When the reference is "last three" or "last 3 or " L3 " in the materials that refers to the last three numbers in your UT student number. If your UT student ID is 245235 then the "last3" would be 235 . By way of example only, if Mortgage interest is shown as 10L3 then the number a student would use would be $10,235. The return(s) are graded for accuracy. While we talk about 2022 for the most part in class, the 2022 software will not be available until the end of the term or early 2023 so we will be using the 2021 software throughout the term. Use your name as the taxpayer's name on the tax return and in naming the file. If your name is Sarah Spartan then the name of the file you would submit is "WA1Spartan". Create your own 9 digit tax id numbers. Beware, students have been caught submitting the same tax return but only having changed one name or one number in one place. For example, a tax return with Sara Spartan on the first page of the 1040 and Tommy Triton on the Schedule C would implicate both students in an academic integrity case. payer household Information: usehold Members: Married - use one of your parent/guardian names as the name of your spouse using your last name for both. The taxpayer's address is 401W. Kennedy Blvd. Unit L3, Tampa, FL 33606 . The tax return should be completed as married filing joint. Taxpayer: Form W-2: Wages: 100L3, Federal W/H: 15L3, Determine the proper SS and Medicare taxes using 6.2\% and 1.45\% respectively (the Social Security cap in 2021 was 142,800). The employer should be the University of Tampa (tax ID 59-0624459). Child1: Female, age 16 earned \$5L3 babysitting, no expenses, no unearned income. High school junior (fulltime), plays Lacrosse, drives her parents crazy, had two vehicle accidents this year (both her fault, while texting) costing $10,000 in after insurance casualty losses (insurance claims were made). Child2: Male, age 14 , earned $300 cutting the neighbor's lawn, no expenses. \$350 dividends from Proctor \& Gamble stock, 8th grade middle school (fulltime), runs track, rides bicycle, picks fights with sister. Spouse: Leads yoga classes for several studios as an independent contractor through a single member LLC named Hot Yoga of Tampa, LLC (Use Schedule C). Total 1099 revenue: \$25L3, expenses for supplies \$1,031, insurance \$3,200, yoga outfits \$500, Mileage in a 2018 Subaru Crosstrek between studio gigs 5342 miles (spouse prefers the standard mileage rate for deduction) Tolls on the Selmon Crosstown between gigs \$420, Business Licenses City of Tampa, Hillsborough County \$225 Spouse's Mother: Lives in the garage apartment, receives social security of \$1L3 per month, no other income. More than half her support is provided by the spouses. ousehold Information: The family maintains a primary residence in Tampa. A vacation cabin in omossassa Springs was inherited from a relative a year ago. The land and building have a value of 120,000. rimary residence mortgage interest $13L3 rimary Residence Real Estate Taxes: $3800 rimary Residence Mortgage Insurance: \$600 rimary Residence Homeowner's Insurance: \$2,500 rimary Residence Flood Insurance: \$450 acation Cabin in Homossassa Springs Real Estate Taxes: \$1600 acation Cabin in Homossassa Springs Homeowners's Insurance: $600 acation Cabin in Homossassa Springs Flood Insurance: \$450 Charitable Contributions to Qualifying Charities (all in cash) $10,000 Gambling Losses at Seminole Hard Rock $500, Gambling Winnings at Rays 50-50 raffle $500 Rental House (Use Schedule E) : In 2001 Taxpayer purchased a home in Seminole Heights at 118 W Haya Street. The initial purchase price for the land and building was $81,000 (land value was $28,000 ). The total additional investment before the property was inhabited including replacement of the roof, HVAC system and renovation of living spaces was \$20L3. In 2006 Taxpayer and Spouse converted the 118W Haya Street house to residential rental property when they moved (on January 1, 2007) to their current residence at 401W. Kennedy Blvd. The 118W. Haya property is currently rented to a tenant at the monthly rate of $1,225/ month. Other Information about 118W. Haya Street: Annual Mortgage Interest: $4750, Property Taxes $2,100, Homeowner's Insurance $2,200, Flood Insurance $450, Annual Maintenance \$1500, Lawn and Pest Service \$28 per month. Other Income: Savings Account interest from Bank of the South: \$11 Dividends from American Electric Power (reinvested): 1L3 City of Tampa Water Authority Bonds Interest: \$500
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