tax return

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The Park family consists of the following:Jackie O. Park; age 40; SSN: XXX-XX-XXXX; business analyst; single; unmarried
Leslie T. Park; age 16; SSN: 000-00-0000; daughter; high-school student; lives at home
Alex K. Park; age 12; SSN: NNN-NN-NNNN; son; middle-school student; lives at homePertinent information:Address: 132 Oakbrook Drive, Houston, Texas 77091
The Parks do not want to contribute to the presidential election campaign
Jackie  does not receive child support. She pays all of the household expenses  including the upkeep of Leslie and Alex. Only Jackie can claim Leslie  and Alex as dependents.
Using the correct Tax Rate Schedule (Not to be confused with the IRS Tax Tables) calculate the tax payer’s Tax Liability
Jackie  also operates a realty company on a part-time basis. Her income from  this business is from real estate sales during the year. She is a sole  proprietor and her company’s name is Jaleal Realty Company. Jackie rents  a small office to operate this business.Jackie had the following earnings on her W-2:Wages: $55,159
Federal tax withheld: $7,460
Social Security tax withheld: $3,420
Medicare tax withheld: $800Jackie had the following income (as shown on Form 1099) and expenses from her business:Total self-employment income reported on Form 1099 was $23,000 and came from the real estate commissions earned from home sales.Business Expenses:
Rent
7,200
Travel expenses
2,200
Advertising
2,345
Supplies
955
Office expenses
750
Telephone
720
Internet expense
540
Broker license
75
Legal and professional
1,000
Miscellaneous
150
Other tax data:Texas State’s general sales tax deduction allowed is $924.
Jackie received $610 of personal interest income from her bank.
She donated $230 in cash to her church during the year.
Real  estate taxes paid on her personal residence were $1,980, and the  mortgage interest paid to her bank in New York, NY on the primary  residence for the year was $16,000.
Medical expenses for the family were as follows:medical insurance premium $3,244
payments for doctor’s visits $1,760
$850 was paid for dentists
$230 for prescription drugsUsing the proper tax rate schedule for her filing status, calculate Jackie’s tax liability.Assignment Guidelines
To prepare Jackie O. Park’s tax return without the aid of Tax preparation software, complete the following steps:Ensure  that you have an Adobe Reader http://get.adobe.com/reader/ installed on  your computer to open and use the downloadable IRS forms.
Determine which forms are necessary for Jackie O. Park’s tax return.
Go  to the IRS Web site and download the fill-in tax forms that you will  need to complete: 1040, 1040 Schedule A, 1040 Schedule C and 1040  Schedule SE.
Complete all necessary downloaded fill-in forms on the computer and save.
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