Question: Please help me with this question COMPREHENSIVE PROBLEM 20. (Obj. 4) On January 2, 2001, Janis R. Jetson (SSN 344-46-5768) purchased a two-unit apartment building

Please help me with this question

Please help me with this question COMPREHENSIVEPlease help me with this question COMPREHENSIVE
COMPREHENSIVE PROBLEM 20. (Obj. 4) On January 2, 2001, Janis R. Jetson (SSN 344-46-5768) purchased a two-unit apartment building at 1626 Flat Street, Detroit, Michigan 48270-8224. The costs of the land and building were $20,000 and $82,500, respectively. Both apartments are the same size, with one on the ground floor and the other upstairs. Janis has lived in the upstairs apartment since she acquired the building. The tenant in the ground-floor apartment at the time the building was purchased has continued to rent from Janis. The tenant pays $350 a month in rent. On June 30 the tenant moved out. The apartment was vacant until August 1, even though Janis advertised and attempted to rent it. On August 1, a new tenant moved in, paying rent of $400 per month. Rent is due on the first day of the month. Janis uses MACRS to depreciate the rental portion of the building. Information on the apartment follows: Revenue Rent from the first tenant (6 months x $350) $2, 100 Rent from the second tenant (5 months x $400) 2,000 Total revenue $4, 100 Expenses Entire house: Real estate taxes $1,700 Janitor and yard work 160 Electricity and water 440 Repairs 300 Heat (gas) 800 Interest on mortgage 1,100 Insurance 376 Expenses other than depreciation $4,876 Ground-floor apartment: Advertising 100 Cleaning and maintenance 420 Repairs 70 $590 Upstairs apartment: Repairs $ 90 Cleaning and maintenance 480 $570 In addition to the rental property, Janis works as an administrative assistant and earned $17,600 in wages. From this amount, $660 of federal income tax was withheld. Janis also earned $147 in interest from Bank of America. Janis is single, has no dependents, and is legally blind. Prepare Janis Jetson's tax return. Janis does not want $3 to go to the Presidential election campaign fund. She signs her return on April 10, 2020. Prepare Form 1040, and Form 1040 Schedule 1 and Schedule E for 2019. No other forms or schedules are necessary.COMPREHENSIVE PROBLEM 27. Patrick A. and Danielle R. Beckman file a joint return for 2019. The Beckmans rent a three- bedroom apartment located at 529 W. Maywood #4, Aurora, IL 60505. They provide over half of the support for Danielle's mother, Ellen Tyler (SSN 384-58-7338), who qualifies as their dependent. Ellen lives in a nursing home in Peoria, Illinois. The Beckmans claim their 20-year-old daughter, Tara (SSN 487-58-3957) as a dependent. Tara lives with the Beckmans while attending college full-time. Danielle (SSN 394-59-3948) works full-time for an advertising firm. Through her employer, Danielle gets full health care insurance coverage for her family. In 2019, Danielle's taxable wages were $59,000, from which her employer withheld $6,000 in federal income taxes, $3,869 in social security taxes, $905 in Medicare taxes, and $1,020 in state income taxes. Danielle is an active participant in her employer's 401 (k). During the year, Danielle contributed $3,400 to her 401 (k). Danielle and Patrick each contributed $1,500 to their respective traditional IRAs for 2019. Patrick (SSN 549-82-2497) is self-employed. He began his carpet cleaning business in 2015. The business code for Schedule C (line B) is 812990. Patrick uses the spare bedroom in the apartment solely and exclusively as a home office to perform administrative tasks. The bedroom is 220 square feet in size. The square footage of the entire apartment is 1,800 square feet. Patrick elects to use the safe harbor method to compute his home office deduction. Patrick uses the cash method. During the year, his business income was $18,000, and he paid $1,828 for cleaning chemicals and supplies, $300 for advertising, and $50 for office expenses. On September 10, 2017, Patrick purchased carpet-cleaning equipment for $14,762. This the only depreciable property placed in service in 2017. The equipment is 5-year proper Patrick did not elect Section 179 in 2017. He did take bonus depreciation and uses regula MACRS to depreciate the equipment. On June 8, 2019, Patrick purchased video equipment for $2,000. Assume this equipment is 5-year property also with a 5-year ADS period. Patrick uses the video equipment 40% for business and 60% for personal use. Patrick has written in 2019. evidence to support the 40% business use. The video equipment was Patrick's only acquisition Patrick uses his van to get to and from customers' homes. During the year Patrick drove his van 1,797 miles for business. He keeps a written log as evidence of these miles. Total miles for the year on the van were 10,540. Danielle has her own car that she uses to get to and from work. Patrick bought the van on March 5, 2014. He used the standard mileage method in 2019. Patrick incurred no business-related parking or tolls in 2019. Prepare the Beckmans' Form 1040 and accompanying Schedules C and SE, and Form 4562. Be sure to complete lines 30-36 on Form 4562. Neither Patrick nor Danielle wants $3 to 2020. go to the Presidential election campaign fund. The Beckmans sign their return on April 15

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