Noah and Joan Arc live with their family in Dayton, OH. Noah’s Social Security number is 434-11-3311.Noah was born on February 22, 1982 and Joan was born on July 1, 1983. Both enjoy good health and eyesight. Noah owns and operates a pet store and Joan is a fire fighter for the city of Dayton. 1) The Arcs have two children, a son named Billie Bob (Social Security number 598-01-2345) born on March 21, 2010 and a daughter named Mary Sue (Social Security number 554-33-2411) born on December 3,2013.
2) Joan and Noah broght a folder of tax documents
3) Noah's pet store is located at 1415 S. Patterson Blvd., Dayton, OH 45409. The name of the store is "The Arc" and its taxpayer identification number is 95-9876556. Since you handle Noah's bookkeeping, you printed the income statement from your Quickbooks software, shown below.
4) Noah and Joan paid the following amounts during the year.
Political Contributions $250
Church donations (for which a written acknowledgment was received) $2,625
Real estate taxes on their home $1,375
Medical co-pay for doctor visits $700
Mortgage interest for purchase of home $11,130
Tax return preparation fees $350
Credit card interest $220
Automobile insurance premiums $600
Uniforms for Joan $125
5) Noah has a long-term capital loss carryover from last year of $2,375
6) Noah and Joan own rental property located at 16 Oakwood Ave, Unit A, Dayton, OH 45409. The revenue and expenses for the year are as follows:
Rental Income $13,800
Insurance $575
Interest expense $6,870
Property taxes $1,000
Miscellaneouse expenses $700
Depreciation (the house was
aquired in 1992) $3,000