Accounting Turbo Tax

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Facts

	50 Sheet Legal Pad					unt
							1
							University of Miami
01.	Our clients Grover McKinley, DOB: 7/28/1971, SS# 990-02-2019 and Lucretia McKinley, DOB: 1/28/1966, SS# 989-35-0060 have been married for 25 years.	FALSE	TRUE		city	Coral Gables	Coral Gables
		0	1	144	state	FL	FL
02.	They live at 1245 Flagler Avenue Coral Gables, FL 33143.		4	258	zip	33143	33143
		NUMR	2245		SalesTaxPercent	0.07	7.000%
03.	Grover is an accountant and Lucretia is a small business consultant.	0000			StateIncomeTax	0	0.000%
			2245		CityIncomeTax	0	0%
04.	Frederick, their child was born 5/26/1998. Frederick has received a 1098-T for attending the first semester at Coral Gables Community College SS#, 991-46-0028. Frederick is a fulltime student and lived at home and Frederick's parents paid for more than half of Frederick's living expenses.				Local Address	1245 Flagler Avenue	1245 Flagler Avenue
					Name of School	University of Miami
05.	Avery, their new baby was born 7/28/2018. Her SS number is, 986-64-0067. Andrew James born 5/25/2010, SS# 987-64-0014 is a first cousin of Lucretia and lived with her since February of 2016. Lucretia provided 80% of Andrew's support. Andrew's total income for the year was $3,000.00.
06.	Grover received a W2 from Deloitte Touche and a W2 from KPMG, and did not participate in an employer provided retirement plan during the year. Lucretia inherited $ 90,000 from her grandfather in September 2018.
					daughter
07.	Lucretia received a K1 from MNH Corp. in which she did not materially participate although all her money was at risk. Lucretia paid estimated federal taxes of $4,293.00.
08.	They received a 1099-INT from Wells Fargo Bank and $1,870 from Coral Gables Municipal General Revenue Bonds.
09.	As per a 1098-I, Grover and Lucretia paid Wells Fargo Bank $7,400.00 in interest for the home mortgage. They also paid $4,025.00 in real estate taxes, $2,641.00 for homeowners insurance on the home and $264.10 to have it painted.						0
		NUMR1	4	1	LNAME1	McKinley	Garfield
10.	Other interest and taxes paid by Grover and Lucretia include: $1,320.00 interest on the loan for the Dodge, the personal automobile which is shared with Frederick, $396.00 interest on credit cards and general sales tax of $2,450.00 for which they have receipts. Note: the general sales tax rate is 7.00%	NUMR2	2	2	Fname1	Grover	James
		NUMR3	6	3	DOBM1	7	1
11.	The total annual cost of medical insurance for the entire family was $15,221.00 and paid by Grover through an employer provided health insurance plan on an after-tax basis. Grover and Lucretia paid $2,797.00 for prescription drugs, $900.00 to doctors and dentists, and $3,000.00 to hospitals and clinics. These amounts were co-payments or amounts not covered by insurance. Contact lenses for Frederick that was not covered by insurance cost $650.00 and cosmetics and other non prescription items from the drug store cost $300.00.	NUMR4	7	4	DOBD1	28	21
		NUMR5	2	5	DOBYY1	1971	1973
12.	Lucretia started Coral Gables Consulting, as a cash method sole proprietorship, on April 15, 2009. The 2018 revenue associated with the business was $28,400.00. The following expenses were incurred $1,636.00 advertising, $9,250.00 supplies and postage of $347.73. She uses a desk in the corner of her bedroom as her office.		6	6	HomeAdd	927	321
		NUMR6	6	7	Fname2	Lucretia	Jane
13.	Lucretia uses a cell phone for business and another cell phone for non-business calls. The cost of the business cell phone was $2,582.00, while the cost of the private phone was $600.00.	NUMR7	9	8	DOBM2	1	2
		NUMR8	4	9	DOBD2	28	24
14.	Grover and Lucretia have the requisite statements from the charities supporting the following contributions to qualified charitable organizations:	NUMR9	2	10	DOBYY2	1966	1964
	Cash of $2,850.00 given to Plymouth Church in Coral Gables on 5/7/2018.			11	FnameChild1	Frederick
	A sofa given to Goodwill in Coral Gables on 5/1/2018. The sofa was purchased on 7/28/2013 for $1,160.00 and the fair market value (based upon comparable sales in thrift shops) at the date of contribution was $170.00.		2	12	FnameChild2	Avery	Avery
	One hundred shares of Home Depot Inc. was given to the University of Miami. The stock was purchased on 1/3/2017 for $1,600.00. When it was donated on 10/6/2018 it had a value of $2,900.00 based on the sale of other shares that same day.		2	13	DOBMC1	5	3
		NUMR10	5	14	DOBdC1	26	21
15.	Grover and Lucretia sold 200 shares of Home Depot Inc. stock. The stock was purchased on 1/3/2018 for $3,200.00 and was sold on 10/6/2018 for $5,800.00. On 12/6/2018 they sold 200 shares of Sub Prime Mortgage Corporation for $1,500.00 which cost $5,300.00 when purchases on 3/24/2009.		6	15	DOBYYC1	1998	2000
			8	16	SSNUM1	990-02-2019
16.	Grover paid $245.00 for subscriptions to professional journals and attended a professional conference in New Orleans. He paid a registration fee of $200.00, $371.00 for airfare, $580.00 for hotel and $254.00 for meals. These items were not reimbursed.		9	17	SSNum1A	2	21
			6	18	SSNum1B	2019	2025
17.	Grover and Lucretia paid $150.00 in April of 2018 for the preparation of the 2017 tax return and $45.00 for a safe deposit box rental fee that was used for the storage of investment securities.		9	19	SSNum1C	990	999
			8	20	SSNUM2	989-35-0060	999-54-0054
18.	Lucretia contributed $3,000.00 to a traditional individual retirement account on December 18, 2018. This was the first time she contributed to an IRA.		9	21	SSNum2A	35	54
			6	22	SSNum2B	60	54
19.	On September 8, a freak tornado damaged their home. They filed a claim with their insurance company but received only $12,500.00 due to the high deductable on their policy. The home had a cost of $260,000.00 when they purchased it on 7/2/2001. It was valued at $360,000.00 before the incident and $300,500.00 immediately after.		9	23	SSNum2C	989	998
			8	24	SSNUMC1	991-46-0028
20.	Grover and Lucretia went to Las Vegas three times in 2018. The total cost of airfare, trportation, meals and expenses were $5,700.00. During the year the gambling winnings were $4,400.00 while the gambling losses were $5,300.00. A W-2G was not received.		2	25	SSNUMC1A	46	44
			9	26	SSNUMC1B	28	29
			8	27	SSNUMC1C	991	999
			5	28	SSNUMC2	986-64-0067
			8	29	SSNUMC2A	64	84
			9	30	SSNUMC2B	67	68
			6	31	SSNUMC2C	986	998
			2	32	SSNumCousin	987-64-0014
			8	33	SSNUMCousinA	64	84
			9	34	SSNUMCousinB	14	33
			6	35	SSNUMCousinC	987	999
			2	36	DOBCousin	5/25/2010	3/23/2010
			8	37	CousinYears	2,016.00	0
			6	38		- 0
			2	39			1,722.25
			4	40	Married	1	1
			9	41	Occupation 1	an accountant	an accountant
			2	42
			9	43		0
			8	44		0
			5	45		0
			3	46		0
			8	47		0
			2	48		0
			2	49	rentYN	0	0
			5	50		0
			0	51	muniInterest	1870	1870
			8	52	mortage	7399	8399
			8	53	mortage	7400	8400
			1	54	RealEstate	4025	3950
			9	55	HomeownerIns	2641	2716
			3	56	IntPerCar	1320	1170
			6	57	IntCredCard	396	521
			5	58	Sales Tax$	2450	2200
			1	59	MedInsurance	15221	15221
			4	60	MedDrugs	2797	3397
			5	61	MedDoc	900	1400
			9	62	MedHosp	3000	3100
			9	63	MedGlass	650	750
			2	64	MedOvercounter	300	700
			9	65	BexpSupplies	9250	5000
			8	66	BexpUtility	500	7000
			0	67	BexpRent	300	300
			4	68	Bexpmeals	440	280
			2	69	BexpAdv	1636	2224
			6	70	BexpComputer	3566	3742
			7	71	BexpCmptrM	0
			2	72	BexpCell	2582	2502
			6	73	BexpInternet	447	393
			9	74	BexpPostage	347.73	359.73
			4	75	BexpMeals	1031.45	1016.45
			2	76	BexpCarCommute	2000	2400
			5	77	BexpCarpersonal	4910	4610
			4	78	BexpCarbusiness	7500	7740
			2	79	BeexpCarCost	17200	18800
			6	80	W2Wage	86000	92000
			7	81	W2WageW	21500
		7960.8	2	82	W2SSWage	128400
			6	83	W2SSWageW	0.062
			9	84	W2SSWageMax	128400
			4	85	W2SSWageSelf	0.124
			2	86	W2MedWageW	0.145
			5	87	W2Employer	Deloitte Touche	Bloom and Burger
			4	88	W2EmployerNum	EIN 99-9876543
			6	89	W2Employer2	KPMG
			2	90	Interest Income	510	410
			6	91	InterestBankName	Wells Fargo Bank	Capital One Bank
			7	92	ChaCash	2850	1800
			2	93	ChaSofaCost	1160	1080
			6	94	ChaSofaFMV	170	80
			4	95	ChaStockName	Home Depot Inc.	Cisco System
			9	96	ChaStockCost	1600	700
			4	97	ChaStockfmv	2900	900
			2	98	ChaStockBdate	01/03/18
			5	99	ChaStockEdate	10/06/18
			4	100	StockStCost	1600
			2	101	StockStSP	2900
			6	102	StockStBdate	01/03/18
			7	103	StockStEdate	10/06/18
			2	104	StockLtCost	5300	100
			6	105	StockltSP	1500	100
			9	106	StockLtBdate	03/24/09
			4	107	StockLtEdate	12/06/18
			2	108		0
			5	109	EmpRelJournal	245	195
			4	110	EmpRelRegist	200	240
			2	111	EmpRelAir	371	458
			6	112	EmpRelHotel	580	563
			7	113	EmpRelMeals	254	198
			2	114	EmpRelCity	New Orle	New Orle
			6	115	JuryPay	0	54
			9	116	PrepReturn	150	105
			4	117	SafeDepositBox	45	25
			2	118	ira	3000	2200
			5	119	CasualtyPay	12500	10000
			4	120	CasualtyCost	260000	320000
			7	121	CasualtyBFmv	360000	130000
			6	122	CasualtyAFmv	300,500.00	56500
			7	123	CasualtyAptLoss	12000	19000
			2	124	K1CompName	MNH Corp.	ABC Corp.
			6	125	K1PerOwner	50	80
			9	126	K1OrdIncome	23850	24400
			4	127	K1Sec179	2400	1200
			2	128	K1AltCode	A	A
			5	129	K1AltAmt	750	500
			4	130	K1BasisCode	C
			2	131	K1BasisAmt	390	300
			6	132	F1098TTuition	1322.25	1022.25
			7	133	CityConsultingRev	28400	20000
			6	134			99-1500157
			9	135	WifeOcc	a small business consultant	an electronic consultant
			2	136	F1099IntIncome	670	550
			9	137	F1099DQual	290	110
			9	138	F1099DOrdinary	290	110
			4	139	GamblingExp	5700	4500
			2	140	GamblingWin	4400	4000
			5	141	GamblingLoss	5300	400
			4	142		114	114
			2	143	Personal Exemption	- 0
			6	144
			7	145
			6	146
			9
			2
					2018
					2014	2015	2016
					- 0
					9,075.00	9,225.00	9,275.00
					36,900.00	37,450.00	37,650.00
					89,350.00	90,750.00	91,150.00
					186,350.00	189,300.00	190,150.00
					405,100.00	411,500.00	413,350.00
					406,750.00	413,200.00	415,050.00
					Married Filing Jointly
					over
					$ 0.00
					18,150.00	18,450.00	18,550.00
					73,800.00	74,900.00	75,300.00
					148,850.00	151,200.00	151,900.00
					226,850.00	230,450.00	231,450.00
					405,100.00	411,500.00	413,350.00
					457,600.00	464,850.00	466,950.00
					Married filing Separately
					over
					$ 0.00
					9,075.00	9,225.00	9,275.00
					36,900.00	37,450.00	37,650.00
					74,425.00	75,600.00	75,950.00
					113,425.00	115,225.00	115,725.00
					202,550.00	205,750.00	206,675.00
					228,800.00	232,425.00	233,475.00
					Head of Household
					over
					$ 0.00
					12,950.00	13,150.00	13,250.00
					49,400.00	50,200.00	50,400.00
					127,550.00	129,600.00	130,150.00
					206,600.00	209,850.00	210,800.00
					405,100.00	411,500.00	413,350.00
					432,200.00	439,000.00	441,000.00
					Standard Deduction
						Single	12,000.00
						Married Filing Jointly	24,000.00
						Head of Household	18,000.00
						Personal Exemption	- 0
						If AGI less than	- 0
						SS Max Income	128,400.00
						SS Rate	0.0620
						SS Rate self employed	0.1240
						Medical	0.1450
						Mileage for using a car	54.5000
							182,454.83

Fact Sheet Page &P

Sch K-1

Set magnification to 140%

For calendar year 2018, or tax

Ordinary business income (loss)

Credits

year beginning

, 2018

$ 23,850.00

ending _______ , 20 __

Net rental real estate income (loss)

Shareholder’s Share of Income, Deductions,

Credits, etc.

▶ See back of form and separate instructions.

Other net rental income (loss)

Part I

Information About the Corporation

Interest income

Corporation’s employer identification number

Ordinary dividends

90-1357999

Corporation’s name, address, city, state, and ZIP code

Qualified dividends

Foreign tractions

MNH Corp.

505 Main Street

Royalties

Coral Gables, FL 33147

Net short-term capital gain (loss)

IRS Center where corporation filed return

Net long-term capital gain (loss)

Ogden

Information About the Shareholder

Collectibles (28%) gain (loss)

Shareholder’s identifying number

Unrecaptured section 1250 gain

998-45-0061

Shareholder’s name, address, city, state, and ZIP code

Net section 1231 gain (loss)

Lucretia McKinley

1245 Flagler Avenue

Other income (loss)

Alternative minimum tax (AMT) items

Coral Gables, FL 33143

Shareholder’s percentage of stock

ownership for tax year

50.0

Section 179 deduction

Items affecting shareholder basis

For IRS Use Only

Other deductions

Charitable contributions

$ 900.00

Other information

* See attached statement for additional information.

For Paperwork Reduction Act Notice, see Instructions for Form 1120S.

Cat. No. 11520D

Schedule K-1 (Form 1120S) 2018

Department of the Treasury Internal Revenue Service (99)

1098-T

Set magnification to 140%

CORRECTED

FILER’S name, street address, city or town, province or state, country, ZIP

Payments received for

OMB No. 1545-1574

Tuition

or foreign postal code, and telephone number

qualified tuition and related

expenses

1,322.25

Statement

Coral Gables Community College

Amounts billed for

1040 College Road

qualified tuition and

Coral Gables, FL 33146

related expenses

Form

1098-T

FILER’S federal identification no. STUDENT'S social security number

If this box is checked, your educational institution

Copy B

59-1210485

991-46-0028

has changed its reporting method for 2018

For Student

STUDENT'S name

Adjustments made for a

Scholarships or grants

prior year

This is important

Frederick McKinley

tax information

and is being

Street address (including apt. no.)

Adjustments to

Check this box if the

furnished to the

1245 Flagler Avenue

scholarships or grants

amount in box 1 or 2

Internal Revenue

for a prior year

includes amounts for

Service

City or town, province or state, country, and ZIP or foreign postal code

an academic period

Coral Gables, FL 33143

beginning January -

March 2016 ▶

Service Provider/Acct. No. (see instr.)

8 Check if at least

Check if a graduate

Ins. contract reimb./refund

half-time student

student . . . .

Form 1098-T

(keep for your records)

www.irs.gov/form1098t

Department of the Treasury - Internal Revenue Service

www.irs.gov/form1098t

FALSE

TRUE

FALSE

1099-INT

Set magnification to 140%

CORRECTED (if checked)

PAYER’S name, street address, city or town, province or state,

Payer's RTN (optional)

OMB No. 1545-1574

country, ZIP or foreign postal code, and telephone no.

Wells Fargo Bank

Interest income

1212 Savings Way

$ 670.00

Interest Income

Coral Gables, FL 33149

Early withdrawal penalty

Form 1099-INT

PAYER’S federal identification no.

RECIPIENT’S identification number

Interest on U.S. Savings Bonds and Treas. obligations

Copy B

59-123456

989-35-0060

For Student

This is important tax

RECIPIENT’S name

Federal income tax withheld

Investment expenses

information and is being

furnished to the Internal

Lucretia McKinley

Revenue Service. If you

are required to file a

Street address (including apt. no.)

Foreign tax paid

Foreign country or U.S. possession

return, a negligence

1245 Flagler Avenue

penalty or other sanction

may be imposed on you if

City or town, province or state, country, and ZIP or foreign postal code

Tax-exempt interest

Specified private activity bond interest

this income is taxable and

Coral Gables, FL 33143

the IRS determines that it

has not been reported

Account number (see instructions)

Tax-exempt bond CUSIP no.

11 State

12 State identification no

State tax withheld

Form 1099-INT

www.irs.gov/form1099int

Department of the Treasury - Internal Revenue Service

Other interest and taxes paid by Grover and Lucretia include: $1,320.00 interest on the loan for the Dodge, the personal automobile which is shared with Frederick, $396.00 interest on credit cards and general sales tax of $2,450.00 for which they have receipts. Note: the general sales tax tax rate is 7.00%

1099-DIV

Set magnification to 140%

CORRECTED (if checked)

PAYER’S name, street address, city or town, province or state,

Total ordinary dividends

OMB No. 1545-1574

Dividends and

country, ZIP or foreign postal code, and telephone no.

$ 290.00

Home Depot Inc.

Qualified dividends

Distributions

1212 Oil Way

$ 290.00

Form 1099-DIV

Dallas, TX 75206

Total capital gain distr.

Unrecap. Sec. 1250 gain

Copy B

For Recipient

PAYER’S federal identification no.

RECIPIENT’S identification number

Section 1202 gain

Collectibles (28%) gain

59-654322

989-35-0060

This is important tax

RECIPIENT’S name

Nondividend distributions

Federal income tax withheld

information and is

being furnished to

Lucretia McKinley

Investment expenses

the Internal Revenue

Service. If you are

Street address (including apt. no.)

Foreign tax paid

Foreign country or U.S. possession

required to file a

1245 Flagler Avenue

return, a negligence

City, state, and ZIP code

Cash liquidation distributions

penalty or other

Coral Gables, FL 33143

sanction may be

Exempt-interest dividends

Specified private activity bond interest

imposed on you if

this income is taxable and

State

State iden no.

State tax withheld

the IRS determines that it

Account number (see instructions)

has not been reported.

Form 1099-DIV

(keep for your records)

Department of the Treasury - Internal Revenue Service

W2

Set magnification to 140%

22222

Employee’s social security number

990-02-2019

OMB No. 1545-0008

Employer identification number (EIN)

Wages, tips, other compensation

Federal income tax withheld

EIN 99-9876543

$ 86,000.00

$ 21,500.00

Employer’s name, address, and ZIP code

Social security wages

Social security tax withheld

$ 86,000.00

$ 5,332.00

Deloitte Touche

Medicare wages and tips

Medicare tax withheld

83 Oftowork Way

$ 86,000.00

$ 1,247.00

Coral Gables, FL 33153

Social security tips

Allocated tips

Control number

Dependent care benefits

Employee’s first name and initial

Last name

Suff.

Nonqualified pl

12a

Grover McKinley

Statutory

Retirement

Third-party

12b

1245 Flagler Avenue

employee

plan

sick pay

Coral Gables, FL 33143

12c

Other

12d

Employee’s address and ZIP code

State

Employer’s state ID number

State wages, tips, etc.

State income tax

Local wages, tips, etc.

Local income tax

Locality name

$ 86,000.00

$ - 0

$ 86,000.00

$ - 0

Form W2

2018

Department of the Treasury - Internal Revenue Service

Copy B—To Be Filed With Employee’s FEDERAL Tax Return.

This information is being furnished to the Internal Revenue Service.

Set magnification to 140%

22222

Employee’s social security number

990-02-2019

OMB No. 1545-0008

Employer identification number (EIN)

Wages, tips, other compensation

Federal income tax withheld

EIN 99-9876599

$ 5,667.00

$ 1,133.40

Employer’s name, address, and ZIP code

Social security wages

Social security tax withheld

$ 5,667.00

$ 351.35

KPMG

Medicare wages and tips

Medicare tax withheld

183 Bythenumber Way

$ 5,667.00

$ 82.17

Coral Gables, FL 33157

Social security tips

Allocated tips

Control number

Dependent care benefits

Employee’s first name and initial

Last name

Suff.

Nonqualified pl

12a

Grover McKinley

Statutory

Retirement

Third-party

12b

1245 Flagler Avenue

employee

plan

sick pay

Coral Gables, FL 33143

12c

Other

12d

Employee’s address and ZIP code

State

Employer’s state ID number

State wages, tips, etc.

State income tax

Local wages, tips, etc.

Local income tax

Locality name

$ 5,667.00

$ - 0

$ 5,667.00

$ - 0

Form W2

2018

Department of the Treasury - Internal Revenue Service

Copy B—To Be Filed With Employee’s FEDERAL Tax Return.

This information is being furnished to the Internal Revenue Service.