Using 2019 IRS forms and the information below, prepare the federal income tax return for William and Joyce Jones.

William is 53 and Joyce is 51 as of the end of the taxable year. William is a manager for ABC corporation, a firm that manufactures and distributes widgets. Joyce is a self-employed author of children's books. The jones have two children, Will, 21 and Tom, 16 and both are full time students. The children have no income. The Jones are on the cash method of accounting and their return is due April 15. They wish to minimize their tax by deferring income, accelerating deductions and taking advantage of any suggestion you offer.

On June 1, Joyce sold her old computer system for $400. She had acquired the computer in 2010, for $2,000. When the taxpayers prepared their 2010 tax return they elected to expense the computer using Section 179. The computer was used exclusively in her business. On June 1, Joyce sold her old computer system for $400. She had acquired the computer in 2010, for $2,000. When the taxpayers prepared their 2010 tax return they elected to expense the computer using Section 179. The computer was used exclusively in her business