2017 Tax Return Accounting Homework

I have most of the questions answered from the Word document. I just need someone who's able to do the tax return itself. Filled out with all the schedules. What is the Gross Income for this family? The total Gross is $55,6460 because Gerald earned $46,000 working at a school, while his wife ran her own small business and had $510,460 in total sales, so since they are a married couple, their income is, therefore, joint and their total gross is combined for their household. Which forms will need to be submitted to the IRS for this family? Since Gerald is employed as a teacher for the local school district, we should’ve received a W-2 from his employer. Since his wife is a business owner and they mention a list of deductions, they may need IRS form 1040 too. This form comes with a few attachments to it (schedules). The standard deduction for a married couple in the year 2017 is $12,700. Since the wife’s deduction seem to be higher than that amount, she may want to include schedule A to itemize her deductions. In paragraph 4, they mention that the family sold some stock, this would require form Schedule D. In section 5, they mention that “the expenses they incurred include mortgage interest” so they would include Schedule B for this amount. In this same paragraph, they mention that they have rental income. On schedule 1040, this would be considered a supplemental income and should be calculated using Schedule E. What is their filing status? Married Filing Jointly. What is the Adjusted Gross Income? Their AGI is $198,632 How much Self-Employment tax is owed by this small business owner? How much Total Tax is owed by this family? Total tax due is $42,602.46 How could this family lower their tax liability? List five questions you would ask this family if you were preparing their tax return for them that would be pertinent to making sure they have lowered their tax liability as much as possible.