Question
total itemized deductions are given - $12,300
using the information, fill out SCHEDULE A 2018 FORM
1:9-72 George Large (SSN 000-11-1111) and his wife Marge Large (SSN 000-22-2222) live at 2000 Lakeview Drive, Cleveland, OH 4
SCHEDULE A Form 1040) Itemized Deductions Go to www.in.gov/Schedule for instructions and the latest Information Attach to For
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Answer #1

Schedule A

Medical and dental Expenses 0
Taxes Paid:
Real estate tax 2500
Intrest paid:
Mortgage interest 4500
Gifts to charity 3500
Unreimbursed job expenses 10905
Total Itemised deductions 21405

Form 1040:

Salary received 80000
Business Income 2789
Total income 82789
Less: Schedule A -21405
Total 61384
3800*2 7600
Taxable Income 53784
0-8500 10% 850
8500-34500 15% 3900
34500-61384 25% 6721
Total Tax 11471
Less: Taxes Withheld 10300
Total tax payable 1171

Schedule C:

Income from Rubber toy boat:

Repair 15000
Less:
Cost of supplies 5000
Contract labour 3500
Business phone calls 500
Total 6000
Less: Form 8829 exp 3211
Total Business Income 2789

Form 2106:

Car expenses 9990
Travelling expenses 665
Meals expenses 5500
16155
Less: Reimbursements 5000
Expenses allowed 250
Total 10905

Form 8829:

25% used for business
Income from business 6000
Less:
Mortgage interest 1125
Real estate taxes 625
Utility bills 500
Depreciation 961
Total 2789

Depreciation Calculation:

Adjusted cost 170000
Less: Value of land 20000
150000
Basis of building 37500
Depreciation 2.56%
961.5
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