Federal 1040

Federal 1040
Prepare a federal 1040 for 2017 for Jenna and Jack Jones Including all of the schedules and worksheets, The return must he done by hand. Write a written explanation favour selected tax treatmentJar each item. Use 2016 forms and 2017 tat rates etc. Jeans 111-I I-I I I and Jack 222-22-222 Jenkins Two dependent children-Twins 2 years old Join 333-13-3313 Joni 444-444444 Address: 100 Summer Street, Springfield Massachusetts 77777- Married Joint I. Salary: 5100.000 Jack 2. Jenna has a consulting business: a sole proprietorship Dug Grooming Revenue: S 140,000 Expenses: Office: $30,000 Supplies $300 Advertising $5110 Utilities 52.000 3. Interest: TD Bank 511,000 City of Nashville Bonds 52.000 4. Stock Transactions: Sold 2.000 shares of Smith Corp stock on. April 12, 2017 for $15 per share. The stock was purchased on June 5, 2006 for S20 per sham. Sold 500 shams of Arco Corp stock on July 10, 2017 for S20 per sham. The stock was purchased on April 3, 2007 for S12 per share. 5. Real estate taxes $10,000 6. Mortgage interest $11,000 7. Medical expenses $6,000 11. Charitable contribution: $3,000 cash to the United Way. 9. Unreimbursed employee expense $2,000 10. Qualified moving expenses unrcimbursed $2,000. 11. Student loan interest for Jack S 1000 12. IRA contribution Jenna 51,200 13. Tax preparation fees 5500 14. Withholding salary 530.000 15. Theft loss 54,000 16. Tuition paid to Kiddy Playschool $5,000 for Childcare One Mulberry Uri. e, Springfield Mass. Tax