Rebecca and Walter Bunge have been married for 5 years

#783
Rebecca and Walter Bunge have been married for 5 years. They live at 883 Scrub Brush Street,
Apt. 52B, Las Vegas, NV 89125. Rebecca is a homemaker and Walt is a high school teacher.
Rebecca's Social Security number is 222-43-7690 and Walt's is 700-01-0002. Walt's earnings
from teaching are:Earnings from Las Vegas School Dist.....................................$50,000Federal
income tax withheld...................................................5,000State income tax
withheld............................................................0In addition, Walt was covered under the Nevada
State Teachers' Pension Plan. The Bunges incurred the following expenses during their move
from Maine to Nevada in January of 2012:Cost of moving
furniture.......................................$4,300Transportation (3,235 miles at $.23)
..............................744Lodging en route.....................................................150Meals en
route.........................................................90 House-hunting trip before the
move................................750Walter's previous job, as a high school teacher in Maine, was only
5 miles from his home. Rebecca was unemployed prior to the move.The Bunges own a ski
condo in Utah. The condo was rented for 40 days during 2012 and used by the Bunges for 10
days. Pertinent information about the condo rental is as follows:Rental
income..................................................$6,000Mortgage
interest................................................4,800Homeowners association
dues.................................2,000Utilities............................................................1,000Maintenance
......................................................2,800Depreciation (assume fully depreciated)
............................0The above amounts do not reflect any allocation between rental and
personal use of the condo. The Bunges are active managers of the condo.Required: Complete
the Bunge's federal tax return for 2012. Use Form 1040, Schedule E, Form 3903, and any other
appropriate schedule(s) you need from pages 4-45 through 4-48 to complete their tax
return.View Solution:
Rebecca and Walter Bunge have been married for 5 years

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