Bart and Susan Forrest, both age 47, are married and have no dependents. They ha

Question

Bart and Susan Forrest, both age 47, are married and have no dependents. They have asked you to advise them whether they should file jointly or separately in 2014. They present you with the following information:

If they file separately, Bart and Susan will split the real estate tax and mortgage interest deductions equally. Write Bart and Susan a letter in which you make and explaina recommendation on filing status for 2014. Bart an Susan reside at 2003 Highland Drive, Durham, NC 27707.

Bart Susan Joint Salary $38,000 Business net income $110,000 Interest income $400 1,200 $2,200 Deductions for AGI 2,400 14,000 Medical expenses 10,427 3,358 State income tax 800 1,800 Real estate tax 3,800 Mortgage interest 4,200 Unreimbursed employee expenses 1,200

Explanation / Answer

Mr. & Mrs. Bart Forrest

2003 Highland Drive

Durham, NC 27707                                                                                        May 18, 2015

Mr. & Mrs. Forrest,

           

Sincerely,

Matthew Myers

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.