Form 1040, along with Schedule 1, Schedule A, and Schedule C using 2022 tax forms Peter and Elizabeth Whitman are married and live in Arizona. They have one dependent child, Mark Whitman. Mark is a college student at Arizona University and is in his third year. Peter works as an accountant for a manufacturing company while Elizabeth runs a photography business from their home. Elizabeth's photography business has been consistently profitable over the years, and Elizabeth spends significant time running this business. Peter and Elizabeth own a home and pay interest on their home loan (balance of $450,000) and a personal loan to pay for Mark's college expenses (balance of $50,000). The Whitmans live at 2200 East McDowell Road, Phoenix, AZ 85205. For their home phone number, enter 602.888.0526 Indicate "not applicable" for the taxpayer social security numbers for Peter and Elizabeth. Peters birthday is 6/1/78 and Elizabeths birthday is 7/15/1978. Marks social security number is 456-12-6789. Mark was born on November 15, 2003. Enter Peters occupation as Accountant and Elizabeths as Photographer. Neither Peter nor Elizabeth is blind, and they plan to file as married filing jointly. If information is not otherwise provided, assume it is $0. W-2 Box 1: Wages, tips, other compensation $125,000 Box 2: Federal income tax withheld $15,000 Box 3: Social security wages $125,000 Box 4: Social security tax withheld $7,750 Box 5: Medicare wages and tips $125,000 Box 6: Medicare tax withheld $1,813 Box 16: State wages, tips, etc. $125,000 Box 17: State income tax $6,000 Business Revenue $19,000 Photography supplies $5,700 Travel and lodging for photography sessions $2,300 Postage for mailing photographs $175 Self-employment tax on Elizabeth's photography income $1,656 Employer-equivalent portion of self-employment tax $828 Other Real estate taxes on residence $6,480 Sales tax paid $1,290 Automobile license (based on weight) $338 Mortgage interest on principal residence $17,400 Interest on credit card balance $2,580 Unreimbursed medical expenses $1,830 Unreimbursed business expenses (for Peter) $2,680 Cash contributions to the Salvation Army $595 Mark's room and board at Arizona University $12,900 College tuition paid for Mark $6,060 (assuming a qualifying institution) Interest paid on Mark's college tuition loans $0 Interest income on Treasury bond funds $744 Interest income on municipal bond funds $948 Interest on certificate of deposit $1,790