If possible I would like dwan to look at this question because this has to be incorporated in previous project. See attached. Income tax project Part 2 For this part you will need forms schedul

If possible I would like dwan to look at this question because this has to be incorporated in previous project. See attached.

Income tax project Part 2

For this part you will need forms schedule A, 2441, and 2106. We will itemizing the deductions for the Tulips.

Medical- Because of the 7.5% limitation there are not enough medical bills to itemize.

Taxes State taxes-see W-2

Real estate taxes on personal residence 1,798

Real estate taxes on land that is held 225

For investment

Personal property taxes-In Mn the first $35 is not deductible because it’s a fee. There are some filing fees that are not deductible. In MN most cars have cost of $99 which means they can deduct $64. Each state is different.

James car $189 this car is used 60% for business

Jamie’s car 99 this car is only used for personal

Interest

Home mortgage-first mortgage $8,965

Second mortgage 1,455

Contributions

Cash contribution to church $1,554

Non cash contribution to Salvation Army 444

Misc deductions.

James is in sales, last year he drove his car 15,650 of which 9,390 was for his job. He also had $1266 in entertainment expenses and $660 in supplies for his job.Last year his tax preparation fee was $250 and he had a safe deposit expense of $50.

Daycare

The youngest child Jerico had daycare expense of $4,850. This was an aftertax expense. It was paid to the following.

Munster Daycare 36-3465555

2525 Mockingbird Ln

Eagan, MN 55122

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1313 Mockingbird Ln
2
5
3
128-54-1098
467-12-0990
86,400.
98,625.
98,625.
2,500.
1,725.
870.
455.
8,400.
Jessica
468-64-2077
Daughter
Jason
468-64-2078
Son
Jerico
468-64-2079
Son
Gambling Winnings
James
Jamie
Eagan MN 55122
BAA
REV 01/14/13 TTW

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19,000.
11,900.
86,725.
67,725.
8,899.
8,899.
6,899.
6,899.
2,000.
2,000.
98,625.
9,559.
2,660.
2,660.
9,559.
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REV 01/14/13 TTW
SELF PREPARED

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