Accounting Assignment | Custom Assignment Help

WEEK 3 Homework 1. Go to the website 2. Print out a Form 1040, Schedule A, and instructions for this Schedule, under “Forms and Publications”. Print the most recent Schedule and Instructions available. 3. Complete the Schedule A using the following facts: June and Mike Baird are a married couple.Custom Assignment Help

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 Together their Adjusted Gross Income is $150,000. For 20XX, they had the following items or occurrences related to itemized or possible itemized deductions. All amounts are totals for the year: a) Mortgage interest on primary residence $6,000. Mortgage amount $220,000. b) Property taxes, primary residence, $4,000 c) Mortgage interest on vacation home, $4,000. Mortgage amount $160,000 d) Property tax on vacation home $4,000 e) Doctors bills paid out of pocket, not covered by insurance, $2,100 f) Prescription drugs paid out of pocket $800 g) Health insurance premiums paid through employers and deducted from their gross income each week $2,400 h) Over the counter medicines to treat Mike’s athlete’s foot, $300 i) State income taxes withheld from paychecks $1,800 j) State income taxes paid with their state return last year $400 k) Total loss of car, not covered with comprehensive insurance so no insurance proceeds received. Paid $9,000 for the car used, at date of total loss, value was $4,800 l) Wallet stolen at beach, containing $800 m) Tax return preparation fees paid $200 n) Investment counselor fees paid $400 o) Cash gifts to church $2,400 p) Gifts of old clothing to Goodwill and Salvation Army, all donated August 31st , miscellaneous items listed by June as being worth $350 q) Gift of appreciated Sherwin-Williams Company stock to the Church. June had paid $1500 for the stock three years ago, and its value at date of gift (October 1) was $3,200 r) Various gifts at the holiday season to needy individuals who use the church’s soup kitchen, $200 Get accounting assignment homework help today

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