Question: Hello, The forms required to be filled in are attached. Some forms are in two pics because they did not fill in one pic. The
Hello,
The forms required to be filled in are attached. Some forms are in two pics because they did not fill in one pic. The the whole question is in the first two picks. Thanks for your help.












Assume the taxpayer does NOT wish to contribute to the Presidential Election Fund, unless otherwise stated in the problem. In addition, the taxpayers did NOT receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency during the year. Derrick and Ani Jones are married taxpayers, filing jointly, and have a son named Jackson. They live at 474 Rustic Drive, Spokane, WA 99201. Ani works as the director of information systems at Washington Community College District (WCCD). Derrick is a stay-at-home dad. Their SSNs are Derrick, 412-34-5670; Ani, 412-34-5671; and Jackson, 412-34-5672. Their birth dates are as follows: Derrick, June 7, 1982; Ani, March 20, 1983; and Jackson, October 10, 2015. The Joneses own their home and paid $15,000 in mortgage interest during the year to Chase Bank and property taxes of $3,200. Assume they have no other deductible expenses. The Form W-2 Ani received from WCCD contained the following information: Wages (box 1) = $ 79, 002.50 Federal W/H (box 2) = $ 7, 000.14 Social security wages (box 3) = $ 79, 002.50 Social security W/H (box 4) = $ 4, 898. 16 Medicare wages (box 5) = $ 79, 002.50 Medicare W/H (box 6) = $ 1, 145.54 In addition, the Joneses own a small, four-unit rental at 12345 Rainbow Way, Sultan, WA 98294. The rental was purchased and placed in service on July 1, 2009, and was rented for the entire year. The following income and expense information relates to the rental activity. For the purpose of this return problem, do not consider passive activity rules or limitations. Rental income $ 24, 000 Real estate taxes 2, 000 State sales taxes 1, 349 Utilities 1, 500 Mortgage interest 3 , 800 Depreciation 7 , 200 Repairs and maintenance 1, 300 NOV 2 stv 4 OX GO MacBook Air K F6 DII F7 F8 F9 F10 F11 @ # % & A 5 6 V 8 O E R T Y U O D F G H K C V B N MMaps Homepage Help Save Saved C b Taxable interest 2b 2a 2a Tax-exempt interest Attach Schedule B 3a b Ordinary dividends 3b if required. a Qualified dividends b Taxable amount 4b 4a IRA distributions 5a b Taxable amount 56 5a Pensions and annuities Taxable amount 6 6 6a Social security benefits Standard Deduction for- c If you elect to use the lump-sum election method, check here (see instructions) . Single or Married filing separately, 7 Capital gain or (loss). Attach Schedule D if required. If not required, check here $12,950 8 Other income from Schedule 1, line 10 . Married filing jointly or Qualifying 9 Add lines 1z, 2b, 3b, 4b, 5b, 6b, 7, and 8. This is your total income widow(er), $25,900 10 Adjustments to income from Schedule 1, line 26 . Head of household, $19,400 11 Subtract line 10 from line 9. This is your adjusted gross income . If you checked 12 Standard deduction or itemized deductions (from Schedule A) any box under Standard 13 Qualified business income deduction from Form 8995 or Form 8995-A Deduction, see instructions. 14 Add lines 12 and 13 15 Subtract line 14 from line 11. If zero or less, enter -0-. This is your taxable income. For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Cat. No. 11320B Form 1040 (2022) THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. @ 2023 McGraw-Hill Education. 1040 PG 1 1040 PG 2 2 R Drawing set: Defa NOV 2 tv 4 MacBook Air F3 44 DD F6 F7 A F8 F9 F10 F11 @ % & W # 5 6 8 9 O W E R T Y U O P D F G H K X C V B N M >Schedule 8812 1040 PG 1 1040 PG 2 Schedule 1 Schedule E Schedule 8812 Worksheet A Form 8995 Page 2 of Form 1040. Some information does not carry over from Page 1. Use provided information and follow instructions on form. Page 2 Form 1040 (2022) Tax and 16 Tax (see instructions). Check if any from Form(s): (1) 8814 (2) 4972 0 (3) 16 Credits 17 Amount from Schedule 2, line 3 17 18 Add lines 16 and 17 18 19 Child tax credit or credit for other dependents from Schedule 8812 19 20 Amount from Schedule 3, line 8 20 21 Add lines 19 and 20 21 22 Subtract line 21 from line 18. If zero or less, enter -0- 22 23 Other taxes, including self-employment tax, from Schedule 2, line 21 23 24 Add lines 22 and 23. This is your total tax 24 Payments | 25 Federal income tax withheld from: a Form(s) W-2 25a b Form(s) 1099 25b c Other forms (see instructions) 25c d Add lines 25a through 25c 25d 26 2022 estimated tax payments and amount applied from 2021 return 26 If you have a qualifying child, 27 Earned income credit (EIC) 27 Prev 1 of 1 Next Drawing set: Default " K Drawing s NOV 2 stv 4 OXGO MacBook Air Q F3 DD F6 F7 F8 F9 F 10 F11 a $ % & ** W# 4 5 6 9 O W E R T Y U O P D F G H K X C V B N MFnewconnect.mheducation.com%252F#/a... Maps Homepage Help Save Saved 26 26 2022 estimated tax payments and amount applied from 2021 return 27 If you have a 27 Earned income credit (EIC) qualifying child, attach Schedule 28 EIC. 28 Additional child tax credit from Schedule 8812 29 American opportunity credit from Form 8863, line 8 29 30 30 Reserved for future use 31 31 Amount from Schedule 3, line 15 32 Add lines 27, 28, 29, and 31. These are your total other payments and refundable credits 32 33 Add lines 25d, 26, and 32. These are your total payments 33 34 If line 33 is more than line 24, subtract line 24 from line 33. This is the amount you overpaid 34 Refund 35a 35a Amount of line 34 you want refunded to you. If Form 8888 is attached, check here O b Routing number c Type: Checking Savings Direct deposit? See instructions. d Account number 36 Amount of line 34 you want applied to your 2023 estimated tax 36 37 Subtract line 33 from line 24. This is the amount you owe. For details on how to pay, go to www.irs.gov/Payments or see instructions 37 Amount You Owe 38 Estimated tax penalty (see instructions) 38 Yes. Complete Third Party Do you want to allow another person to discuss this return with the IRS? See instructions below. Designee No Designee's Phone Personal identification name no . number (PIN) Sign Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, Here they are true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. 20 k Drawing set: Default 2 "tv N 4 MacBook Air KK Pil F9 F11 F12 @ $ W# N A 9 O W E R T Y U O P S D F G H K X B N M 1 and command option IZMSchedule 1 Schedule 8812 1040 PG 1 1040 PG 2 Schedule E Schedule 8812 w Worksheet A Form 8995 Schedule E of Form 1040. SCHEDULE E Supplemental Income and Loss OMB No. 1545-0074 (Form 1040) (From rental real estate, royalties, partnerships, S corporations, estates, trusts, REMICS, etc.) 2022 Department of the Treasury Attach to Form 1040, 1040-SR, 1040-NR, or 1041. Internal Revenue Service Go to www.irs.gov/ScheduleE for instructions and the latest information. Attachment Sequence No. 13 Name(s) shown on return Your social security number Part I Income or Loss From Rental Real Estate and Royalties Note: If you are in the business of renting personal property, use Schedule C. See instructions. If you are an individual, report farm rental income or loss from Form 4835 on page 2, line 40. A Did you make any payments in 2022 that would require you to file Form(s) 1099? See instructions NO B If "Yes," did you or will you file required Form(s) 1099? 1a Physical address of each property (street, city, state, ZIP code) A B C 1b Type of Property (from 2 For each rental real estate property listed list below) above, report the number of fair rental and Fair Rental Days Personal Use Days QJV personal use days. Check the QJV box only if you meet the requirements to file as a O W D qualified joint venture. See instructions. Tune of Property OR Drawing set: D Drawing s NOV 2 tv 4 OXGO MacBook Air SO F3 BS 6 DII F7 DD F8 FO A' F10 F11 $ % A 5 6 8 9 O E R T Y U P D F G H K C V B N M TSchedule 8812 Form 8995 Schedule 1 Schedule E Schedule 8812 Worksheet A 1040 PG 1 1040 PG 2 Schedule 8812 Worksheet A. Credit Limit Worksheet A Enter the amount from line 18 of your Form 1040, 1040-SR, or 1040-NR. Add the following amounts (if applicable) from: Schedule 3, line 1 Schedule 3, line 2 Schedule 3, line 3 Schedule 3, line 4 Schedule 3, line 6d Schedule 3, line 6e Schedule 3, line 6f Schedule 3, line 61 Form 5695, line 30 Enter the total. 2 3 Subtract line 2 from line 1. 3 Complete the Credit Limit Worksheet B only if you meet all of the following. Prey 1 of 1 Next > Drawing set: De Drawing set: Default NOV 2 atv T A MacBook Air 30 F2 DII F3 F4 F5 DD F6 . F7 F8 F9 F10 $ % * W# & 4 5 6 8 9 O E R T Y U O P D F G H C K F C V RSchedule 8812 Schedule 1 Schedule E Schedule 8812 Form 8995 1040 PG 1 1040 PG 2 Worksheet A Form 8995. Qualified Business Income Deduction OMB No. 1545-2294 Form 8995 Simplified Computation 2022 Department of the Treasury Attach to your tax return. Go to www.irs.gov/Form8995 for instructions and the latest information. Attachment Sequence No. 55 Internal Revenue Service Name(s) shown on return Identifying number(xxx-xx-xxxx) Note. You can claim the qualified business income deduction only if you have qualified business income from a qualified trade or business, real estate investment trust dividends, publicly traded partnership income, or a omestic production activities deduction passed through from an agric al cooperative. See instructions. Use this form if your taxable income, before your qualified busines e deduction, is at or below $170,050 ($340, 100 if married filing jointly), and you aren't a patron of an agricultural or horticultural cooperative. b) Taxpayer (c) Qualified (a) Trade, business, or aggregation name identification business income number or (loss) W N / Total qualified business income or (loss). Combine lines 1i through 1v, column (c) Qualified business net (loss) carryforward from the prior year (Enter as negative) 3 Total qualified business income. Combine lines 2 and 3. If zero or less, enter -0- 4 6 2 0 Drawing 2 tv all A MacBook Air F3 F6 F8 >D F10 A F11 F12 W# A CA 6 9 O E R T Y U O P D F G H K C B N M . V 1 command optionIN Total qualified business income or (loss). Combine lines 1i through 1v, column (c) (Enter as negative) 3 Qualified business net (loss) carryforward from the prior year Total qualified business income. Combine lines 2 and 3. If zero or less, enter -0- Qualified business income component. Multiply line 4 by 20% (0.20) Qualified REIT dividends and publicly traded partnership (PTP) income or (loss) (see instructions) (Enter as negative) 7 Qualified REIT dividends and qualified PTP (loss) carryforward from the prior year 8 Total qualified REIT dividends and PTP income. Combine lines 6 and 7. If zero or less, enter -0- REIT and PTP component. Multiply line 8 by 20% (0.20) 10 Qualified business income deduction before the income limitation. Add lines 5 and 9 income before qualified business income deduction (see instructions) Net capital gain (see instructions) Subtract line 12 from line 11. If zero or less, enter -0- 14 Income limitation. Multiply line 13 by 20% (0.20) 15 Qualified business income deduction. Enter the smaller of line 10 or line 14. Also enter this amount on the applicable line of your return (see instructions) 16 Total qualified business (loss) carryforward. Combine lines 2 and 3. If greater than zero, enter -0- (Enter as negative) 16 147 Total qualified REIT dividends and PTP (loss) carryforward. Combine lines 6 and 7. If greater than zero, enter -0- (Enter as negative) 17 r Privacy Act and Paperwork Reduction Act Notice, see instructions. Cat. No. 37806C Form 8995 (2022) THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. @ 2023 McGraw-Hill Education. Drawing set: Default , " Drawing sec Def NOV 2 itv N 4 MacBook Air F7 F8 FO 41)) F10 F11 F12 # & 5 6 8 9 O E R T Y O P D F G H J K C B N M 1 command option
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