I’m trying to study for my Accounting course and I need some help to understand this question.
Jim and Cindy Walsh are married and have two dependent children, Brenda and Brandon, who are both 17 years old, live at home, and attend high school. Jim works as a corporate tax accountant. Cindy is self-employed and runs a small shop that sells herbs and homemade jams and sauces. Cindy’s business income qualifies for the full 20% qualified business income deduction.
Neither Jim nor Cindy is blind or over age 65, and they plan to file jointly.
Based on the information below, complete Jim and Cindy’s 2019 individual income tax return including all required schedules . Be sure to provide supporting calculations for any summary numbers.
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