I need the tax forms referenced in the attachment completed. ALL 2013 forms, and note the highlighted area in the attachment

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russel_and_linda_long_group4.docx

Russell (age50) and Linda (age45) Long have brought you the following information regarding their income and expenses for the current year. Russell owns and operates a landscaping business called Lawns and Landscapes Unlimited. The business is operated out of their home, located at 1234 Katy Rd., TX 77493. Russell Long had the following income and expenses from the landscaping business:

Income $132,000

Expenses:

Business Insurance 3,800

Office Supplies 2,600

Payroll 83,000

Payroll Taxes 8,100

Meals and Entertainment 2,350

Contract Labor 7,290

Maintenance 8,300

Equipment Rent 12,300

Telephone 2300

Business Gifts ( no gift over $22) 770

Special clothing and safety shoes 600

Subscription to Green Lawns and magazine 120

Education seminar on bug control 350

Other Expenses 1,830

The business uses the cash method of accounting and has no accounts receivable or inventory held for resale.

In addition the above expenses, the Longs have set aside one room of their house as a home office. The room is 150 square feet and their house has a total of 1,500 square feet. They pay $12,000 per year rental on their house, and the utilities amount to $3,000 for the year.

The Longs also have the following interest income for the year:

Interest from Morgan Bank bond portfolio $42,520

The Longs have two dependents children, Bill (Social Security number 123-23-7654) and Martha (Social Security 345-67-8654). Both Bill and Martha are full-time high school students, ages 17 and 18, respectively, so they do not qualify for the child credit. Russell social Security number is 664-98-5678 and Linda’s is 554-98-3946. They made an estimated tax payment to the IRS of $4,500 on April 15, 2013.

Required: Complete the Long’s federal tax return for 2013 Use Form 1040, Schedule B, Schedule C and form 8829 on pages 3-57 to 3-63 and any other appropriate schedules to complete this tax return. Do not complete from 4562 (depreciation) . Make a realistic assumptions about missing data.

AGI should be 42,384

Schedule C should be a net loss of  -135.