Question: tax question help !!!! 52. Comprehensive Problem (Tax Return Problem). Mr. and Mrs. Sam Morris retired on February 10, 2019, and call you in for

tax question help !!!! tax question help !!!! 52. Comprehensive Problem (Tax Return Problem). Mr. and

52. Comprehensive Problem (Tax Return Problem). Mr. and Mrs. Sam Morris retired on February 10, 2019, and call you in for tax advice. Both Sam and his wife Sarah have worked for many years. Sam is 65 years of age and his wife is 63. 59.900 7,000 5,500 Facts: Dependent child: Age 21 Social Security Benefits Salaries: Sam (January 1-February 10) Sarah (January 1-February 10) Interest Income: Port Authority of N.Y. Bonds Interest from Bank Deposits Corporate Bonds Highway Bonds of Ohio Dividend Income: Microsoft Common Stock General Electric Common Stock AGA Ltd. of England Net Rental Income 300 11.100 900 100 4,000 2,000 1,000 4.000 One of their tenants moved out on July 14, 2019, and Sam determines that they had damaged the stove, and therefore returned only $50 of their $150 security deposit. The Morrises' daughter borrowed $10,000 two years ago to purchase a new automobile. She has made payments to her parents and on September 1, 2019, only $2,500 was still outstanding on the loan. On their daughter's birthday, they told her she no longer had to make payments. Sam was Vice President of a very large corporation. As part of his fringe benefit package, the corporation purchased for him $50,000 of group-term life insurance. The corporation continues to pay for his life insurance even after retirement

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