Directions: Prepare 2019 federal income tax return, including all necessary schedules and attachments(schedule a b c 1 2 3), for Donald and Melania Trump using the following information: Social Security Numbers: Donald- 123-45-6789, Melania 333-222-111 Donald is age 64, Melania is age 51. Son Barron age 11 – SS# 555-77-6666. Melania paid $5,000 in child care expenses for Barron while she worked. Salary: Donald – $50,000, Melania $20,000 Barron $600 Interest from Mellon Bank – $8,000, Interest on New York municipal bonds – $4,000 Dividends on Trump, Inc. stock 2,000 Sold 1,000 shares of IBM stock for $6,000 on January 15, 2019. Shares were purchased on January 15, 2008 for $4,000. Melania had the following operating results from her modeling business, which she operated as a sole proprietorship: Sales income – $12,000 Office supplies – 4,000 Advertising Expenses – 2,000 Entertainment expense 1,000 Donald and Melania rented out the old family home in New York for the entire year: Rental income – $7,000, Mortgage interest – $3,000 Depreciation – The house was purchased in 12/01/17 at a cost of $100,000 and is depreciated on a straight-line basis over 27.5 years. Accumulated Depreciation from prior years was $3,788. Mortgage interest on the white house owned by Donald and lived in by family – $8,000 Real Estate taxes on the white house – $6,000; State income taxes withheld from Donalds wages – $5,000 Federal income taxes withheld from Donalds wages – $4,000 New York City sales tax paid by Donald was $1,800. State income tax refund of 2018 overpayment received in 2019 – $2,000 (2018 state income taxes were fully deductible on the 2018 tax return.) Donald had $6,000 of business travel expenses, which were reimbursed by his employer. Melania paid $3,000 in college tuition for graduate school. Donald contributed $9,000 to the United Way, and $6,000 to Fordham University during the year. Melania paid $4,000 of student loan interest. Notes 1. Please make up any non-financial information needed to complete the tax return that is not provided above.
