How would I enter these events into a tax return using Intuit Proconnect? The Amoths made
Question:
How would I enter these events into a tax return using Intuit Proconnect?
• The Amoths made charitable contributions to recognized charities for which they have receipts in the amount of $15,800.
• Additionally, the Amoths made a contribution of $3,500 to the Reelect Major Munster’s political campaign.
• Eric and Mary wish to contribute the maximum to an Individual Retirement Account for 2020 for each of them. There is no retirement plan at Red Steel Corporation. • Eric and Mary contributed $5,000 for each of the three children’s separate qualified tuition plans for 2020.
• Eric’s mother passed away 6/22/2020. He received a parcel of land worth $50,000 on 6/22/2020, no alternative valuation date was elected. He sold the land on 12/24/2020 for $50,600. He also received life insurance proceeds in the amount of $150,000. He invested a portion of the proceeds from the sale into Disney stock for his three children. The value of the Disney stock at the time of purchase was $10,000 per child.
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Marys father passed away on 2152020 She inherited 100000 in cash Charitable contributions The Amoths ... View the full answer
