PROB$-$CP

DATA:

Name: John Problem

Name: Jane Problem

SS#: $111-11-1111$

SS#: $222-22-2222$

Address:

$789$ Problem Street

Problem, PR $56789$

W$-2$ Wages $$25,000.$ W$-2($Federal Income Tax Withheld$)$ $$200.$ Interest from Bounty Bank $$135,$ Interest from Auto Credit Union $$260,$ Interest from DEF Bank $$385,$ Dividends from Radio Inc. $$145,$ Dividends from TV Inc. $$255,$ Dividends from Internet Inc. $$365.$

John Problem was also a sole proprietor as follows:

Gross receipts or sales $$14,500,$ Advertising $$1,000,$ Commissions & fees $$700,$ Interest $$300,$ Legal & professional services $$2,000,$ Rent $$1,500,$ Repairs & maintenance $$950,$ Utilities $$350,$ and Wages $$2,700.$

REQUIRED:

$.$ Prepare a Form $1040.$

$.$ Prepare SCHEDULE $1($Form $1040).$

$.$ Prepare SCHEDULE B $($Form $1040).$

$.$ Prepare SCHEDULE C $($Form $1040).$

PROB$-$CP

DATA:

Name: John Problem

Name: Jane Problem

Address:

SS#: $111-11-1111$

SS#: $222-22-2222$

$789$ Problem Street

Problem, PR $56789$

W$-2$ Wages $$25,000.$ W$-2($Federal Income Tax Withheld$)$ $$200.$ Interest from Bounty Bank $$135,$ Interest from Auto Credit Union $$260,$ Interest from DEF Bank $$385,$ Dividends from Radio Inc. $$145,$ Dividends from TV Inc. $$255,$ Dividends from Internet Inc. $$365.$

John Problem was also a sole proprietor as follows:

Gross receipts or sales $$14,500,$ Advertising $$1,000,$ Commissions & fees $$700,$ Interest $$300,$ Legal & professional services $$2,000,$ Rent $$1,500,$ Repairs & maintenance $$950,$ Utilities $$350,$ and Wages $$2,700.$

REQUIRED:

$.$ Prepare a Form $1040.$

$.$ Prepare SCHEDULE $1($Form $1040).$

$.$ Prepare SCHEDULE B $($Form $1040).$

$.$ Prepare SCHEDULE C $($Form $1040).$