Do not worry about the potential income limits on the applications to Schedule A.1. Marital Status ? All tax returns are Married Filing Joint2. Age ? 353. Spouse Age ? 534. Children ? you have 14 dependents5. Wages ?a. You are a CPA in your first job earning $125,000b. barista at Starbucks in your second job? 16,2506. Spouses Wages ? your spouse earns $44,900 as a salesperson7. Interest ? 12,350 paid by Bank of America8. State Income Tax ? take your wages and multiply by 12%9. Real Estate Taxes ? $43,957 (Actual Dollar Amount)10. Personal Property Taxes ? $9,750 (Actual Dollar Amount)11. Point paid on the mortgage ? $1450 (Actual Dollar Amount12. Mortgage Interest from Form 1098 ? 16,75013. Charitable Giftsa. Cashi. paid to United Way ? 9,331ii. donated each week at church $75 every other weekb. Other than Cash (Form 8283) ?i. Donations to Goodwill of various household items- 2,31214. You have an accident in your home where you spill hot coffee on your stamp collection that you received from your grandmother. The collection has a basis of $75,500.15. You also lost while swimming the Ohio river a fake Rolex watch that cost you $750.16. You had a car accident that totaled your car. You paid $17,500 on the car and had replacement insurance on the car that bought you a new model.Rental Real Estate ? Sch E1. You have a rental property located at 9645 Merkner Drive, Pittsburgh, PA 15228.a. You leased the property for the entire year to Tom Weaver and his family.b. 3rd party payments ? 48,000c. Advertising ? 397d. Cleaning and Maintenance ? 752e. Commissions ? 124f. Management Fees ? 12,000 (actual Amount)g. Mortgage Interest ? $23,400 (actual Amount)h. Depreciation ? $5,5132. You also have a rental property at 1394 Sandfiddler Road, Virginia BEACH, VA 23060a. Personal Use Days ? 36b. Rental Days ? 243c. 3rd party payments ? $148,000d. Advertising ? $20,987e. Cleaning and Maintenance ? 1,200f. Commissions ? $14,800g. Mortgage Interest ? $30,844h. Depreciation ? $14,000Small Business ? Sch C1. You are the sole proprietor of the business. You do not have a separate EIN or business name for the business.2. Address is the same as your home address.3. Cash basis4. You DID materially participate in the business operations.5. The business was started 1/1/096. No Form 1099s are required.7. 3rd party payments ? 366,5468. Advertising ? 23,5009. Insurance ? 24,50010. Commissions ? 126,50011. Supplies ? $41,000Estimated payments withheld from paycheck each month ? ZERO ? no taxes were withheld. DO NOT CALCULATE THE PENALTY FOR UNDERPAYMENT OR THE INTEREST DUE ON THE RETURN.
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