Question: Theodore E . Lariat is a single taxpayer born on September 2 2 , 1 9 7 5 . He was appointed the new coach
Theodore E Lariat is a single taxpayer born on September He was appointed the new coach of the Nashville Country Stars soccer team in January His address, Social Security number, and wages are reported on his Form Wsee separate tab
Theodore was previously the coach at a different soccer club in a different state. He sold his previous home before moving to Nashville see S below His only selling expense was sales commissions of $ His basis in the home was $ Theodore purchased his previous home on January and sold it on January Obviously, he would not have sold the home if it were not for the new job. He is currently renting the home he lives in Theodore was welcomed back to the Nashville area as he was formerly a star player on the Country Stars team. During his playing time, he had purchased a modest home in Nashville but did not sell it instead choosing to rent the home over the years. His rental home is located at Bransford Ave., Nashville, TN and was rented all year to his tenant. The tenant occupied the home on January and pays rent of $ per month for each month of the lease is a twoyear lease; however, Theodore required first and last months rent and a security deposit of $ and all were paid on January Theodores rental expenses for the year are:
Mortgage interest $
Real estate taxes
Insurance
Depreciation fully depreciated
Repairs
Lawn and other maintenance
Now that Theodore is back in Nashville, he actively manages the rental home. He probably spends about ten hours per month on the rental.
Theodore received a B from his broker see separate tab
Required:
Complete Theodores federal tax return for Determine if Form and Schedule D are required. If so use those forms and Form Schedule E page only and Form page only to complete this tax return. Do not complete Form for reporting depreciation.
Assume the taxpayer had health coverage for the entire year.
The taxpayer does not want to contribute to the presidential election campaign.
If an amount box does not require an entry or the answer is zero, enter
Do not round any percentages.
If required, round your answers to the nearest dollar.
If required, enter a "loss" as a negative number on the tax form. Do not enter deductions as negative numbers.
Special instructions for Form : If required, use the minus sign to enter a "loss" as a negative number on the lines d and However, per the instructions on the tax return, enter all numbers in Part II as positive amounts. Lariat's Form W Theodore's Form B
Can you show me how to fill out a form, schedule schedule d form schedule e and form using the tax rate schedule
Lariat's Form W
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