Question

Merv R. Baldwin (age 39, SSN 550-37-7400) and Melanie A. Baldwin (age 36, SSN 598-35- 3775) live at 515 W. 35 Ave., Provo, Utah 84200. They claim their 9-year-old son, Adam (SSN 458-47-9330) as their only dependent. Merv works as a computer analyst; Melanie is employed as a manager. Details from their respective W-2s are shown below. In order to allow them both to work, the Baldwins paid Anna Furlough (Melanie's mother, SSN 583-57-9991) $3,600 during the year for after-school childcare. Anna lives down the street at 735 W. 35 Ave. Federal Income Tax Income Ta Security Ta $36,100 24,064 Medicare Tax Withheld $2,559 Gross Wages Withheld Withbeld $8,466 Withheld $7,886 4,688 Merv $176,500 Melanie 75,605 6,644 1,096 During 2017, the Baldwins received $33,667 from the rental of their cabin in Park City, Utah. The cabin is located at 1900 Mountain View Lane, Park City, Utah 85068. The cabin was rented out for 104 days during the year, and the Baldwins the summer. The Baldwins paid $319,000 for the cabin in 1996, of which $50,000 was allocat to the land. They depreciate the cabin using MACRS. Expenses related to the cabin include: ly used the cabin for 20 days durin $ 700 12,400 522 7,230 5,900 240 Cleaning and maintenance Insurance Mortgage interest Real estate taxes Repairs Utilities Paid to a leasing company to belp them identify and screen potential tenants, collect rents, and schedule necessary repairs and cleaning services The Baldwins also have receipts for the following income and expenses during the year. City of Ogden bond interest Key Bank CD interest Zion Bank interest $12,200 40,750 29,794 Home mortgage interest (on main home) Real estate taxes (on main home Cash contributions to a qualified charity Noncash contributions to a qualified charity Amount paid when fling 2016 state tax retun Amount paid when filing 2016 federal tax return Tax preparation fees $15,909 5,525 2,000 150 429 2,440 275 Prepare the Baldwins' joint tax return. The Baldwins get full health care coverage thru Merv's employer. The Baldwins did not have any interest in a foreign account or trust. T return on April 15, 2018 and both want to contribute $3 to the Presidential campaign fund.

Answer 1

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