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Which Forms? (continued)Case Study (continued)The scenario continues. Nick and Judith Real are U.S. citizens who live in Puerto Rico. They file as Married Filing Jointly. They have three children, Juan, Maria, and Petra, who qualify for the additional child tax credit. Judith earned $9,645 as an employee of Banco de Hato Rey. Her Social Security tax withheld was $598 and the Medicare tax withheld was $140. Nick is a self-employed carpenter. This year, he had gross receipts of $10,000. He reported the following expenses; $50 in advertising, $250 in supplies, and $1,825 in truck expenses. What would you enter on the following lines of Schedule C - Profit or Loss from Business - Part I & Part II; Schedule SE - Part I and Form 1040-SS for the Real family?
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