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George Large (SSN 000-11-1111) and his wife Marge Large (SSN 000-22-2222) live at 2000 Lakeview Drive, Cleveland, OH 49001 an

Complete the following forms Form 1040. Use the 2018 tax forms (locate tax forms on www.irs.gov) Schedule 1, Form 1040 Schedule 4, Form 1040 Schedule C, F

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Schedule A

Medical & Dental Expenses 0

Taxes paid:

Real estate tax 2500

Interest paid:

Mortgage interest 4500

Gifts to Charity 3500

Un reimbursed Job Expenses 10905

Total Itemized 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 Witheld 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 Expenses (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

Notes:

Depreciation calculation

Adjusted cost 170000

Less: Value of land 20000

150000

Basis of building 37500

Depreciation 2.56%

961.5

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