Question: plz help me Appendix B, CP B-7 Chris and Stefani Watanabe, married filing Jointly, live with their two boys at 1400 Victoria Lane, Riverside, CA

plz help me
plz help me Appendix B, CP B-7 Chris and Stefani Watanabe, married
filing Jointly, live with their two boys at 1400 Victoria Lane, Riverside,

Appendix B, CP B-7 Chris and Stefani Watanabe, married filing Jointly, live with their two boys at 1400 Victoria Lane, Riverside, CA 92501. Chris is an accountant who has his own accounting practice. Stefani is an elementary school teacher. Their sons, Justin and Jordan, are ages 13 and 10, respectively. The following is additional information regarding the Watanabes. Social security numbers for the Watanabe family: Chris 412-34-5670 05/23/1980 Stefani 412-34-5671 10/14/1981 Justin 412-34-5672 02/19/2007 Jordan 412-34-5673 07/02/2010 They paid $4,500 to Friendly Hills Child Care center for after-school care for both Justin and Jordan, allocated equally. The address is 2 River Dr. Riverside, CA 92501 and their ID number is 22-1234567. Stefani's W-2 from the Riverside school district showed the following: Wages - $ 56,925.04 Federal w/H- $ 6,935.90 Social Security wages - $ 56,925.04 Social Security W/H - $ 3,529.35 Medicare Wages - $ 56,925.04 Medicare W/ $825.41 California W/ $ 2,105.75 Chris's accounting business is located in downtown Riverside and his business code is 541211. His business had the following income and expense Information (Cash basis) for the year Gross revenues $ 165,000 Expenses: Advertising $ 2,100 Insurance 1,200 Legal fees 10,500 office supplies 800 Rent 24.000 Travel 6,945 2,400 Utilities 2,800 Wages 34,000 Dues 650 Heala Additionally, Chris and Stefani paid the following expenses during the year. Medical and dental expenses $ 4.500 Property tax (home on Victoria Lane) 3,750 State income taxes with the 2018 return 3,900 Donations to the church (cash) 3,500 Mortgage interest (home on Victoria Lane) 16,900 Stefani paid 5950 in classroom expenses for her class Chris and Stofanian Additionally, Chris and Stefani paid the following expenses during the year. Medical and dental expenses $ 4,500 Property tax (home on Victoria Lane) 3,750 State income taxes with the 2018 return 3,900 Donations to the church (cash) 3,500 Mortgage interest (home on Victoria Lane) 16,900 Stefani paid $950 in classroom expenses for her class Chris and Stefani also earned $1,075 of interest income from California Bank during the year. Lastly, Chris and Stefani own a three-bedroom cabin in Big Bear Lake (they bought it in January of 2008 for $300,000). The address 3105 Stonehedge Road, Big Bear Lake, CA 92315. They did not use the property for personal use at any time during the year. The revenue and expenses for the Big Bear Lake rental property are as follows: Rental income $ 18,000 Expenses Insurance $ 1,200 Property taxes 2 500 Auto (standard mileage) 262 Management fees 1,600 Repairs and maintenance 1,100 Mortgage interest 9,000 Depreciation Calculate Utilities 450 The Watanabes also made $12,000 and $9,000 in federal and California estimated Income tax payments, respectively, on 06/15/20. Required: Prepare the Watanabes' federal tax return for 2020. Use Form 1040, Schedule A Schedule C, Schedule E. Schedule SE, and any additional schedules or forms they may need. They do not want to contribute to the presidential election campaign and they do not want anyone to be a third-party designee. For any missing information, make reasonable assumptions. (List the names of the taxpayers and any income they receive in the order in which they appear in the problem. Input all the values as positive numbers unless otherwise stated in the forms. Instructions can be found on certain cells within the forms. Round all intermediate calculations and your final answers to the nearest whole dollar amount. Do not skip rows while entering in Dependents section of Form 1040 PG1 and Other Expenses section in Schedule C. Enter zero where applicable.) Use the appropriate EIC Tables (64.6 or 6A-7) and Tox Tables or Tox Rote Schedules, 1040 for a couple Married Filing Jointly with two dependents. 1040 PG 1 1040 PG 2 Schedule 1 Schedule 2 Schedule 3 Schedule A Schedule Schedule E Schedule Se Form 3995 Page 1 of Form 1040. Use provided Information and follow instructions on form Form 1040 Department of the Treasury Wernal Revenue Service USI

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