Description John Mayer ( age 34) is a single taxpayer living at 2020 Martin Drive, Apt. 2, San Jose, CA 95129. His social security number is 123-45-6789. John’s salary and income tax withholding as an engineer at a local company for 2019 are: Salary $132,000, Federal Income tax withheld $25,000. State income tax withheld is $15,000 ( to keep things simple, assume there was NO state tax due or state tax refund from the prior year). John’s only other income is qualifying dividends on PepsiCo stock of $4,900 (remember, if all are fully qualified they are also regular dividends). The qualified is only to determine amount of tax because of special tax treatment. Use the worksheet). John made $5,000 of charitable contributions (assume they are all valid), he rents and apartment, and his car is old – he pays no CA DMV personal property tax (this is for real if the car is old enough).John sold the following stocks (none is qualified small business stock), NONE of the basis was reported to the IRS (just assume that so you can get some practice preparing Form 8949), and there were NO adjustments to gain or loss:Red Co bought 2/01/05 for $2,000. Sold 10/05/19 for $7,000Green Co. bought 06/11/19 for $4,500. Sold 08/03/19 for $3,500.Blue Co. bought 03/12/19 for $4,200. Sold 9/22/19 for $6,000.White Co. bought 05/12/04 for $5,000. Sold 10/15/19 for $10,000.Black Co. bought 09/15/07 for $7,000. Sold 11/01/19 for $6,000.Required: Complete John’s federal tax return for 2019. Use Form 1040, Sch A, Sch B, Sch D and Form 8949. You DO NOT need to turn in a tax calculation worksheet (there is no fillable form available.)Alternative Minimum Tax (AMT) Form 6251 IS NOT REQUIRED for this tax return.Hint : pay attention to how qualifying dividends are reported on Form 1040. They go on Line 3a and 3b. 5 attachmentsSlide 1 of 5attachment_1attachment_1attachment_2attachment_2attachment_3attachment_3attachment_4attachment_4attachment_5attachment_5.slider-slide > img { width: 100%; display: block; } .slider-slide > img:focus { margin: auto; } Unformatted Attachment Preview Itemized Deductions SCHEDULE A (Form 1040 or 1040-SR) (Rev. January 2020) Department of the Treasury Internal Revenue Service (99) OMB No. 1545-0074 to www.irs.gov/ScheduleA for instructions and the latest information. ▶ Attach to Form 1040 or 1040-SR. Caution: If you are claiming a net qualified disaster loss on Form 4684, see the instructions for line 16. Taxes You Paid 1 2 3 4 Caution: Do not include expenses reimbursed or paid by others. Medical and dental expenses (see instructions) . . . . . . Enter amount from Form 1040 or 1040-SR, line 8b 2 Multiply line 2 by 7.5% (0.075) . . . . . . . . . . . . Subtract line 3 from line 1. If line 3 is more than line 1, enter -0- . Caution: Your mortgage interest deduction may be limited (see instructions). 1 . . . 3 . . . . . . 4 . . . . 7 8b c Points not reported to you on Form 1098. See instructions for special 8c rules . . . . . . . . . . . . . . . . . . . . . d Mortgage insurance premiums (see instructions) . . . . . . . 8d e Add lines 8a through 8d . . . . . . . . . . . . . . . 8e 9 Investment interest. Attach Form 4952 if required. See instructions . 9 10 Add lines 8e and 9 . . . . . . . . . . . . . . . . . . . . . . . 10 11 Gifts by cash or check. If you made any gift of $250 or more, see 11 instructions . . . . . . . . . . . . . . . . . . . 12 Other than by cash or check. If you made any gift of $250 or more, see instructions. You must attach Form 8283 if over $500 . . . . 12 13 Carryover from prior year . . . . . . . . . . . . . . 13 14 Add lines 11 through 13 . . . . . . . . . . . . . . . . . . . . . . 14 . 5 State and local taxes. a State and local income taxes or general sales taxes. You may include either income taxes or general sales taxes on line 5a, but not both. If you elect to include general sales taxes instead of income taxes, check this box . . . . . . . . . . . . . . . . . ▶ b State and local real estate taxes (see instructions) . . . . . . . c State and local personal property taxes . . . . . . . . . . d Add lines 5a through 5c . . . . . . . . . . . . . . . e Enter the smaller of line 5d or $10,000 ($5,000 if married filing separately) . . . . . . . . . . . . . . . . . . . 6 Other taxes. List type and amount ▶ 7 Add lines 5e and 6 Interest You Paid Attachment Sequence No. 07 Your social security number Name(s) shown on Form 1040 or 1040-SR Medical and Dental Expenses 2019 ▶ Go . . . . . . . . . . . . . . . . . 8 Home mortgage interest and points. If you didn’t use all of your home mortgage loan(s) to buy, build, or improve your home, see instructions and check this box . . . . . . . . . . . ▶ a Home mortgage interest and points reported to you on Form 1098. See instructions if limited . . . . . . . . . . . . . . 5a 5b 5c 5d 5e 6 . . 8a b Home mortgage interest not reported to you on Form 1098. See instructions if limited. If paid to the person from whom you bought the home, see instructions and show that person’s name, identifying no., and address . . . . . . . . . . . . . . . . . . . ▶ Gifts to Charity Caution: If you made a gift and got a benefit for it, see instructions. Casualty and 15 Casualty and theft loss(es) from a federally declared disaster (other than net qualified disaster losses). Attach Form 4684 and enter the amount from line 18 of that form. See Theft Losses instructions . . . . . . . . . . . . . . . . . . . . . . . . . . 15 16 Other—from list in instructions. List type and amount ▶ Other Itemized Deductions 16 17 Add the amounts in the far right column for lines 4 through 16. Also, enter this amount on Total Form 1040 or 1040-SR, line 9 . . . . . . . . . . . . . . . . . . . . 17 Itemized Deductions 18 If you elect to itemize deductions even though they are less than your standard deduction, check this box . . . . . . . . . . . . . . . . For Paperwork Reduction Act Notice, see the Instructions for Forms 1040 and 1040-SR. . . . . . . Cat. No. 17145C . . ▶ Schedule A (Form 1040 or 1040-SR) 2019 SCHEDULE D Capital Gains and Losses (Form 1040 or 1040-SR) Department of the Treasury Internal Revenue Service (99) OMB No. 1545-0074 2019 ▶ Attach to Form 1040, 1040-SR, or 1040-NR. Go to www.irs.gov/ScheduleD for instructions and the latest information. ▶ Use Form 8949 to list your transactions for lines 1b, 2, 3, 8b, 9, and 10. ▶ Attachment Sequence No. 12 Your social security number Name(s) shown on return Did you dispose of any investment(s) in a qualified opportunity fund during the tax year? Yes No If “Yes,” attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss. Part I Short-Term Capital Gains and Losses—Generally Assets Held One Year or Less (see instructions) See instructions for how to figure the amounts to enter on the lines below. This form may be easier to complete if you round off cents to whole dollars. (d) Proceeds (sales price) (e) Cost (or other basis) (g) Adjustments to gain or loss from Form(s) 8949, Part I, line 2, column (g) (h) Gain or (loss) Subtract column (e) from column (d) and combine the result with column (g) 1a Totals for all short-term transactions reported on Form 1099-B for which basis was reported to the IRS and for which you have no adjustments (see instructions). However, if you choose to report all these transactions on Form 8949, leave this line blank and go to line 1b . 1b Totals for all transactions reported on Form(s) 8949 with Box A checked . . . . . . . . . . . . . 2 Totals for all transactions reported on Form(s) 8949 with Box B checked . . . . . . . . . . . . . 3 Totals for all transactions reported on Form(s) 8949 with Box C checked . . . . . . . . . . . . . 4 Short-term gain from Form 6252 and short-term gain or (loss) from Forms 4684, 6781, and 8824 . . 5 Net short-term gain or (loss) from partnerships, S corporations, estates, and trusts from Schedule(s) K-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Short-term capital loss carryover. Enter the amount, if any, from line 8 of your Capital Loss Carryover Worksheet in the instructions . . . . . . . . . . . . . . . . . . . . . . . . 7 Net short-term capital gain or (loss). Combine lines 1a through 6 in column (h). If you have any longterm capital gains or losses, go to Part II below. Otherwise, go to Part III on the back . . . . . . Part II 4 5 6 ( ) 7 Long-Term Capital Gains and Losses—Generally Assets Held More Than One Year (see instructions) See instructions for how to figure the amounts to enter on the lines below. This form may be easier to complete if you round off cents to whole dollars. (d) Proceeds (sales price) (e) Cost (or other basis) (g) Adjustments to gain or loss from Form(s) 8949, Part II, line 2, column (g) (h) Gain or (loss) Subtract column (e) from column (d) and combine the result with column (g) 8a Totals for all long-term transactions reported on Form 1099-B for which basis was reported to the IRS and for which you have no adjustments (see instructions). However, if you choose to report all these transactions on Form 8949, leave this line blank and go to line 8b . 8b Totals for all transactions reported on Form(s) 8949 with Box D checked . . . . . . . . . . . . . 9 Totals for all transactions reported on Form(s) 8949 with Box E checked . . . . . . . . . . . . . 10 Totals for all transactions reported on Form(s) 8949 with Box F checked . . . . . . . . . . . . . . 11 Gain from Form 4797, Part I; long-term gain from Forms 2439 and 6252; and long-term gain or (loss) from Forms 4684, 6781, and 8824 . . . . . . . . . . . . . . . . . . . . . . . 12 Net long-term gain or (loss) from partnerships, S corporations, estates, and trusts from Schedule(s) K-1 13 Capital gain distributions. See the instructions . . . . . . . . . . . . . . . . . . . 14 Long-term capital loss carryover. Enter the amount, if any, from line 13 of your Capital Loss Carryover Worksheet in the instructions . . . . . . . . . . . . . . . . . . . . . . . . 15 Net long-term capital gain or (loss). Combine lines 8a through 14 in column (h). Then go to Part III on the back . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 11338H 11 12 13 14 ( ) 15 Schedule D (Form 1040 or 1040-SR) 2019 Page 2 Schedule D (Form 1040 or 1040-SR) 2019 Part III 16 Summary Combine lines 7 and 15 and enter the result . . . . . . . . . . . . . . . . . . 16 • If line 16 is a gain, enter the amount from line 16 on Form 1040 or 1040-SR, line 6; or Form 1040-NR, line 14. Then go to line 17 below. • If line 16 is a loss, skip lines 17 through 20 below. Then go to line 21. Also be sure to complete line 22. • If line 16 is zero, skip lines 17 through 21 below and enter -0- on Form 1040 or 1040-SR, line 6; or Form 1040-NR, line 14. Then go to line 22. 17 Are lines 15 and 16 both gains? Yes. Go to line 18. No. Skip lines 18 through 21, and go to line 22. 18 If you are required to complete the 28% Rate Gain Worksheet (see instructions), enter the amount, if any, from line 7 of that worksheet . . . . . . . . . . . . . . . . . ▶ 18 If you are required to complete the Unrecaptured Section 1250 Gain Worksheet (see instructions), enter the amount, if any, from line 18 of that worksheet . . . . . . . . . ▶ 19 19 20 Are lines 18 and 19 both zero or blank? Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Forms 1040 and 1040-SR, line 12a (or in the instructions for Form 1040-NR, line 42). Don’t complete lines 21 and 22 below. No. Complete the Schedule D Tax Worksheet in the instructions. Don’t complete lines 21 and 22 below. 21 If line 16 is a loss, enter here and on Form 1040 or 1040-SR, line 6; or Form 1040-NR, line 14, the smaller of: • The loss on line 16; or • ($3,000), or if married filing separately, ($1,500) } . . . . . . . . . . . . . . . 21 ( ) Note: When figuring which amount is smaller, treat both amounts as positive numbers. 22 Do you have qualified dividends on Form 1040 or 1040-SR, line 3a; or Form 1040-NR, line 10b? Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Forms 1040 and 1040-SR, line 12a (or in the instructions for Form 1040-NR, line 42). No. Complete the rest of Form 1040, 1040-SR, or 1040-NR. Schedule D (Form 1040 or 1040-SR) 2019 Note: The form, instructions, or publication you are looking for begins after this coversheet. Please review the updated information below. Reporting Excess Deductions on Termination of an Estate or Trust on Forms 1040, 1040-SR, and 1040-NR for Tax Year 2018 and Tax Year 2019 Under Proposed Regulations 113295-18, an excess deduction on termination of an estate or trust allowed in arriving at adjusted gross income (Internal Revenue Code (IRC) section 67(e) expenses) is reported as an adjustment to income on Forms 1040, 1040-SR, and 1040-NR; non-miscellaneous itemized deductions are reported, as applicable, on Schedule A (Form 1040 or 1040-SR) or Schedule A (Form 1040-NR); and miscellaneous itemized deductions are not deductible. Taxpayers may rely on the proposed regulations for tax years of beneficiaries beginning after 2017 and before the final regulations are published. For tax year 2019, an excess deduction for IRC section 67(e) expenses is reported as a write-in on Schedule 1 (Form 1040 or 1040-SR), Part II, line 22, or Form 1040-NR, line 34. On the dotted line next to line 22 or line 34 (depending on which form is filed), enter the amount of the adjustment and identify it using the code “ED67(e)”. Include the amount of the adjustment in the total amount reported on line 22 or line 34. For tax year 2018, an excess deduction for IRC section 67(e) expenses is reported as a write-in on Schedule 1 (Form 1040), line 36, or Form 1040-NR, line 34. On the dotted line next to line 36 or line 34, (depending on which form is filed), enter the amount of the adjustment and identify it using the code “ED67(e)”. Include the amount of the adjustment in the total amount reported on line 36 or line 34. Form 1040 U.S. Individual Income Tax Return 2019 Filing Status Check only one box. (99) Department of the Treasury—Internal Revenue Service Single Married filing jointly Married filing separately (MFS) OMB No. 1545-0074 IRS Use Only—Do not write or staple in this space. Head of household (HOH) Qualifying widow(er) (QW) If you checked the MFS box, enter the name of spouse. If you checked the HOH or QW box, enter the child’s name if the qualifying person is a child but not your dependent. ▶ Your first name and middle initial Last name Your social security number If joint return, spouse’s first name and middle initial Last name Spouse’s social security number Home address (number and street). If you have a P.O. box, see instructions. Presidential Election Campaign Check here if you, or your spouse if filing jointly, want $3 to go to this fund. Checking a box below will not change your tax or refund. You Spouse Apt. no. City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Foreign country name Foreign province/state/county Standard Deduction Someone can claim: Age/Blindness You: You as a dependent If more than four dependents, see instructions and ✓ here ▶ Your spouse as a dependent Spouse itemizes on a separate return or you were a dual-status alien Were born before January 2, 1955 (1) First name Spouse: Are blind Dependents (see instructions): Standard Deduction for— • Single or Married filing separately, $12,200 • Married filing jointly or Qualifying widow(er), $24,400 • Head of household, $18,350 • If you checked any box under Standard Deduction, see instructions. Foreign postal code Was born before January 2, 1955 (2) Social security number (3) Relationship to you Is blind (4) ✓ if qualifies for (see instructions): Child tax credit Credit for other dependents Last name 1 Wages, salaries, tips, etc. Attach Form(s) W-2 . 2a Tax-exempt interest . . . . 2a b Taxable interest. Attach Sch. B if required 2b 3a Qualified dividends . . . . 3a b Ordinary dividends. Attach Sch. B if required 3b 4a IRA distributions . . . . 4a b Taxable amount . . . . . . 4b c Pensions and annuities . . . 4c d Taxable amount . . . . . . 4d 5a Social security benefits . . . 5a b Taxable amount . . . . . . 5b 6 Capital gain or (loss). Attach Schedule D if required. If not required, check here . . . . . . . ▶ 7a Other income from Schedule 1, line 9 . . . . . . . . . 7a 7b b 8a b 9 10 11a b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 6 Add lines 1, 2b, 3b, 4b, 4d, 5b, 6, and 7a. This is your total income . . . . . . . . . . . ▶ Adjustments to income from Schedule 1, line 22 . . . . . . . . . . . . 8a Subtract line 8a from line 7b. This is your adjusted gross income . . . . . . . . . . . ▶ 8b Standard deduction or itemized deductions (from Schedule A) . . . . . . . . . . 9 Qualified business income deduction. Attach Form 8995 or Form 8995-A . . . 10 Add lines 9 and 10 . . . . . . . . . . . . 11a . . . . . . . . . . . 11b . . . . . . . . . . . . . Taxable income. Subtract line 11a from line 8b. If zero or less, enter -0- For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Cat. No. 11320B Form 1040 (2019) Page 2 Form 1040 (2019) 12a b 13a b • If you have a qualifying child, attach Sch. EIC. • If you have nontaxable combat pay, see instructions. Refund Direct deposit? See instructions. Amount You Owe Third Party Designee Tax (see inst.) Check if any from Form(s): 1 8814 2 4972 3 Add Schedule 2, line 3, and line 12a and enter the total Child tax credit or credit for other dependents . . . 12a . . . . . . . . . . . . . . . . . . . . . ▶ 12b 13a Add Schedule 3, line 7, and line 13a and enter the total . . . . . . . . . . . . . . ▶ 13b 14 Subtract line 13b from line 12b. If zero or less, enter -0- . . . . . . . . . . . . . . . 14 15 Other taxes, including self-employment tax, from Schedule 2, line 10 . . . . . . . . . . . . 15 16 Add lines 14 and 15. This is your total tax . 17 Federal income tax withheld from Forms W-2 and 1099 18 Other payments and refundable credits: . . . . . . . . . . . . . . . . . ▶ 16 . . . . . . . . . . . . . . . 17 a Earned income credit (EIC) . . . . . . . . . . . 18a b Additional child tax credit. Attach Schedule 8812 . . . . . . . . . 18b c American opportunity credit from Form 8863, line 8 . . . . . . . . 18c d Schedule 3, line 14 . . . . . . . . . . 18d e Add lines 18a through 18d. These are your total other payments and refundable credits . . . . . ▶ 18e 19 Add lines 17 and 18e. These are your total payments . . . . . . ▶ 19 20 If line 19 is more than line 16, subtract line 16 from line 19. This is the amount you overpaid . . . . . . 21a Amount of line 20 you want refunded to you. If Form 8888 is attached, check here . . . ▶ ▶ b Routing number ▶ d Account number . . . . . . . . . . . . . . . . ▶ . . . . . c Type: . Checking 22 Amount of line 20 you want applied to your 2020 estimated tax . 23 Amount you owe. Subtract line 19 from line 16. For details on how to pay, see instructions 24 Estimated tax penalty (see instructions) . . . . . . . . . . . . . . . 20 21a Savings 22 ▶ . . . . . ▶ 23 24 ▶ Do you want to allow another person (other than your paid preparer) to discuss this return with the IRS? See instructions. Yes. Complete below. No (Other than paid preparer) Designee’s name ▶ Sign Here Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Paid Preparer Use Only ▲ Joint return? See instructions. Keep a copy for your records. Phone no. ▶ Personal identification ▶ number (PIN) Your signature Date Your occupation If the IRS sent you an Identity Protection PIN, enter it here (see inst.) Spouse’s signature. If a joint return, both must sign. Date Spouse’s occupation If the IRS sent your spouse an Identity Protection PIN, enter it here (see inst.) Phone no. Email address Preparer’s name Preparer’s signature Date PTIN Check if: 3rd Party Designee Firm’s name Firm’s address Self-employed Phone no. ▶ ▶ Go to www.irs.gov/Form1040 for instructions and the latest information. Firm’s EIN ▶ Form 1040 (2019) Form 8949 Department of the Treasury Internal Revenue Service Sales and Other Dispositions of Capital Assets ▶ ▶ Go to www.irs.gov/Form8949 for instructions and the latest information. File with your Schedule D to list your transactions for lines 1b, 2, 3, 8b, 9, and 10 of Schedule D. OMB No. 1545-0074 2019 Attachment Sequence No. 12A Social security number or taxpayer identification number Name(s) shown on return Before you check Box A, B, or C below, see whether you received any Form(s) 1099-B or substitute statement(s) from your broker. A substitute statement will have the same information as Form 1099-B. Either will show whether your basis (usually your cost) was reported to the IRS by your broker and may even tell you which box to check. Part I Short-Term. Transactions involving capital assets you held 1 year or less are generally short-term (see instructions). For long-term transactions, see page 2. Note: You may aggregate all short-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS and for which no adjustments or codes are required. Enter the totals directly on Schedule D, line 1a; you aren’t required to report these transactions on Form 8949 (see instructions). You must check Box A, B, or C below. Check only one box. If more than one box applies for your short-term transactions, complete a separate Form 8949, page 1, for each applicable box. If you have more short-term transactions than will fit on this page for one or more of the boxes, complete as many forms with the same box checked as you need. (A) Short-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS (see Note above) (B) Short-term transactions reported on Form(s) 1099-B showing basis wasn’t reported to the IRS (C) Short-term transactions not reported to you on Form 1099-B 1 (a) Description of property (Example: 100 sh. XYZ Co.) (b) Date acquired (Mo., day, yr.) (c) Date sold or disposed of (Mo., day, yr.) (d) Proceeds (sales price) (see instructions) Adjustment, if any, to gain or loss. If you enter an amount in column (g), (e) (h) enter a code in column (f). Cost or other basis. Gain or (loss). See the separate instructions. See the Note below Subtract column (e) and see Column (e) from column (d) and (f) (g) in the separate combine the result Code(s) from instructions with column (g) Amount of instructions adjustment 2 Totals. Add the amounts in columns (d), (e), (g), and (h) (subtract negative amounts). Enter each total here and include on your Schedule D, line 1b (if Box A above is checked), line 2 (if Box B above is checked), or line 3 (if Box C above is checked) ▶ Note: If you checked Box A above but the basis reported to the IRS was incorrect, enter in column (e) the basis as reported to the IRS, and enter an adjustment in column (g) to correct the basis. See Column (g) in the separate instructions for how to figure the amount of the adjustment. For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 37768Z Form 8949 (2019) Attachment Sequence No. 12A Form 8949 (2019) Name(s) shown on return. Name and SSN or taxpayer identification no. not required if shown on other side Page 2 Social security number or taxpayer identification number Before you check Box D, E, or F below, see whether you received any Form(s) 1099-B or substitute statement(s) from your broker. A substitute statement will have the same information as Form 1099-B. Either will show whether your basis (usually your cost) was reported to the IRS by your broker and may even tell you which box to check. Part II Long-Term. Transactions involving capital assets you held more than 1 year are generally long-term (see instructions). For short-term transactions, see page 1. Note: You may aggregate all long-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS and for which no adjustments or codes are required. Enter the totals directly on Schedule D, line 8a; you aren’t required to report these transactions on Form 8949 (see instructions). You must check Box D, E, or F below. Check only one box. If more than one box applies for your long-term transactions, complete a separate Form 8949, page 2, for each applicable box. If you have more long-term transactions than will fit on this page for one or more of the boxes, complete as many forms with the same box checked as you need. (D) Long-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS (see Note above) (E) Long-term transactions reported on Form(s) 1099-B showing basis wasn’t reported to the IRS (F) Long-term transactions not reported to you on Form 1099-B 1 (a) Description of property (Example: 100 sh. XYZ Co.) (b) Date acquired (Mo., day, yr.) (c) Date sold or disposed of (Mo., day, yr.) (d) Proceeds (sales price) (see instructions) Adjustment, if any, to gain or loss. If you enter an amount in column (g), (e) (h) enter a code in column (f). Cost or other basis. Gain or (loss). See the separate instructions. See the Note below Subtract column (e) and see Column (e) from column (d) and (f) (g) in the separate combine the result Code(s) from instructions with column (g) Amount of instructions adjustment 2 Totals. Add the amounts in columns (d), (e), (g), and (h) (subtract negative amounts). Enter each total here and include on your Schedule D, line 8b (if Box D above is checked), line 9 (if Box E above is checked), or line 10 (if Box F above is checked) ▶ Note: If you checked Box D above but the basis reported to the IRS was incorrect, enter in column (e) the basis as reported to the IRS, and enter an adjustment in column (g) to correct the basis. See Column (g) in the separate instructions for how to figure the amount of the adjustment. Form 8949 (2019) SCHEDULE B Department of the Treasury Internal Revenue Service (99) ▶ Go 1 Interest 2020 to www.irs.gov/ScheduleB for instructions and the latest information. ▶ Attach to Form 1040 or 1040-SR. Attachment Sequence No. 08 Your social security number Name(s) shown on return Part I OMB No. 1545-0074 Interest and Ordinary Dividends (Form 1040) Amount List name of payer. If any interest is from a seller-financed mortgage and the buyer used the property as a personal residence, see the instructions and list this interest first. Also, show that buyer’s social security number and address ▶ (See instructions and the instructions for Forms 1040 and 1040-SR, line 2b.) Note: If you received a Form 1099-INT, Form 1099-OID, or substitute statement from a brokerage firm, list the firm’s name as the payer and enter the total interest shown on that form. Part II 1 2 3 Add the amounts on line 1 . . . . . . . . . . . . . . . . . . . Excludable interest on series EE and I U.S. savings bonds issued after 1989. Attach Form 8815 . . . . . . . . . . . . . . . . . . . . . . 4 Subtract line 3 from line 2. Enter the result here and on Form 1040 or 1040-SR, line 2b . . . . . . . . . . . . . . . . . . . . . . . . ▶ Note: If line 4 is over $1,500, you must complete Part III. List name of payer ▶ 5 2 3 4 Amount Ordinary Dividends (See instructions and the instructions for Forms 1040 and 1040-SR, line 3b.) Note: If you received a Form 1099-DIV or substitute statement from a brokerage firm, list the firm’s name as the payer and enter the ordinary dividends shown on that form. Part III Foreign Accounts and Trusts Caution: If required, failure to file FinCEN Form 114 may result in substantial penalties. See instructions. 5 Add the amounts on line 5. Enter the total here and on Form 1040 or 1040-SR, line 3b . . . . . . . . . . . . . . . . . . . . . . . . ▶ 6 Note: If line 6 is over $1,500, you must complete Part III. You must complete this part if you (a) had over $1,500 of taxable interest or ordinary dividends; (b) had a foreign account; or (c) received a distribution from, or were a grantor of, or a transferor to, a foreign trust. 6 7a Yes No At any time during 2020, did you have a financial interest in or signature authority over a financial account (such as a bank account, securities account, or brokerage account) located in a foreign country? See instructions . . . . . . . . . . . . . . . . . . . . . . . . If “Yes,” are you required to file FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), to report that financial interest or signature authority? See FinCEN Form 114 and its instructions for filing requirements and exceptions to those requirements . . . . . . b If you are required to file FinCEN Form 114, enter the name of the foreign country where the financial account is located ▶ 8 During 2020, did you receive a distribution from, or were you the grantor of, or transferor to, a foreign trust? If “Yes,” you may have to file Form 3520. See instructions . . . . . . . . . For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 17146N Schedule B (Form 1040) 2020 Purchase answer to see full attachment Tags: Tax return charitable contributions special tax treatment IRS system tax payers calculations IRS form User generated content is uploaded by users for the purposes of learning and should be used following Studypool’s honor code & terms of service.

Description

John Mayer ( age 34) is a single taxpayer living at 2020 Martin Drive, Apt. 2, San Jose, CA 95129. His social security number is 123-45-6789. John’s salary and income tax withholding as an engineer at a local company for 2019 are: Salary $132,000, Federal Income tax withheld $25,000. State income tax withheld is $15,000 ( to keep things simple, assume there was NO state tax due or state tax refund from the prior year). John’s only other income is qualifying dividends on PepsiCo stock of $4,900 (remember, if all are fully qualified they are also regular dividends). The qualified is only to determine amount of tax because of special tax treatment. Use the worksheet). John made $5,000 of charitable contributions (assume they are all valid), he rents and apartment, and his car is old – he pays no CA DMV personal property tax (this is for real if the car is old enough).John sold the following stocks (none is qualified small business stock), NONE of the basis was reported to the IRS (just assume that so you can get some practice preparing Form 8949), and there were NO adjustments to gain or loss:Red Co bought 2/01/05 for $2,000. Sold 10/05/19 for $7,000Green Co. bought 06/11/19 for $4,500. Sold 08/03/19 for $3,500.Blue Co. bought 03/12/19 for $4,200. Sold 9/22/19 for $6,000.White Co. bought 05/12/04 for $5,000. Sold 10/15/19 for $10,000.Black Co. bought 09/15/07 for $7,000. Sold 11/01/19 for $6,000.Required: Complete John’s federal tax return for 2019. Use Form 1040, Sch A, Sch B, Sch D and Form 8949. You DO NOT need to turn in a tax calculation worksheet (there is no fillable form available.)Alternative Minimum Tax (AMT) Form 6251 IS NOT REQUIRED for this tax return.Hint : pay attention to how qualifying dividends are reported on Form 1040. They go on Line 3a and 3b.

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Itemized Deductions
SCHEDULE A
(Form 1040 or 1040-SR)
(Rev. January 2020)
Department of the Treasury
Internal Revenue Service (99)
OMB No. 1545-0074
to www.irs.gov/ScheduleA for instructions and the latest information.
▶ Attach to Form 1040 or 1040-SR.
Caution: If you are claiming a net qualified disaster loss on Form 4684, see the instructions for line 16.
Taxes You
Paid
1
2
3
4
Caution: Do not include expenses reimbursed or paid by others.
Medical and dental expenses (see instructions) . . . . . .
Enter amount from Form 1040 or 1040-SR, line 8b 2
Multiply line 2 by 7.5% (0.075) . . . . . . . . . . . .
Subtract line 3 from line 1. If line 3 is more than line 1, enter -0- .
Caution: Your
mortgage interest
deduction may be
limited (see
instructions).
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3
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8b
c Points not reported to you on Form 1098. See instructions for special
8c
rules . . . . . . . . . . . . . . . . . . . . .
d Mortgage insurance premiums (see instructions) . . . . . . .
8d
e Add lines 8a through 8d . . . . . . . . . . . . . . .
8e
9 Investment interest. Attach Form 4952 if required. See instructions .
9
10 Add lines 8e and 9
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10
11 Gifts by cash or check. If you made any gift of $250 or more, see
11
instructions . . . . . . . . . . . . . . . . . . .
12 Other than by cash or check. If you made any gift of $250 or more,
see instructions. You must attach Form 8283 if over $500 . . . .
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13 Carryover from prior year . . . . . . . . . . . . . .
13
14 Add lines 11 through 13 . . . . . . . . . . . . . . . . . .
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14
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5 State and local taxes.
a State and local income taxes or general sales taxes. You may include
either income taxes or general sales taxes on line 5a, but not both. If
you elect to include general sales taxes instead of income taxes,
check this box . . . . . . . . . . . . . . . . . ▶
b State and local real estate taxes (see instructions) . . . . . . .
c State and local personal property taxes . . . . . . . . . .
d Add lines 5a through 5c . . . . . . . . . . . . . . .
e Enter the smaller of line 5d or $10,000 ($5,000 if married filing
separately) . . . . . . . . . . . . . . . . . . .
6 Other taxes. List type and amount ▶
7 Add lines 5e and 6
Interest
You Paid
Attachment
Sequence No. 07
Your social security number
Name(s) shown on Form 1040 or 1040-SR
Medical
and
Dental
Expenses
2019
▶ Go
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8 Home mortgage interest and points. If you didn’t use all of your home
mortgage loan(s) to buy, build, or improve your home, see
instructions and check this box . . . . . . . . . . . ▶
a Home mortgage interest and points reported to you on Form 1098.
See instructions if limited . . . . . . . . . . . . . .
5a
5b
5c
5d
5e
6
. .
8a
b Home mortgage interest not reported to you on Form 1098. See
instructions if limited. If paid to the person from whom you bought the
home, see instructions and show that person’s name, identifying no.,
and address . . . . . . . . . . . . . . . . . . .
▶
Gifts to
Charity
Caution: If you
made a gift and
got a benefit for it,
see instructions.
Casualty and 15 Casualty and theft loss(es) from a federally declared disaster (other than net qualified
disaster losses). Attach Form 4684 and enter the amount from line 18 of that form. See
Theft Losses
instructions .
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15
16 Other—from list in instructions. List type and amount ▶
Other
Itemized
Deductions
16
17 Add the amounts in the far right column for lines 4 through 16. Also, enter this amount on
Total
Form 1040 or 1040-SR, line 9 . . . . . . . . . . . . . . . . . . . .
17
Itemized
Deductions 18 If you elect to itemize deductions even though they are less than your standard deduction,
check this box .
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For Paperwork Reduction Act Notice, see the Instructions for Forms 1040 and 1040-SR.
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Cat. No. 17145C
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▶
Schedule A (Form 1040 or 1040-SR) 2019
SCHEDULE D
Capital Gains and Losses
(Form 1040 or 1040-SR)
Department of the Treasury
Internal Revenue Service (99)
OMB No. 1545-0074
2019
▶ Attach to Form 1040, 1040-SR, or 1040-NR.
Go to www.irs.gov/ScheduleD for instructions and the latest information.
▶ Use Form 8949 to list your transactions for lines 1b, 2, 3, 8b, 9, and 10.
▶
Attachment
Sequence No. 12
Your social security number
Name(s) shown on return
Did you dispose of any investment(s) in a qualified opportunity fund during the tax year?
Yes
No
If “Yes,” attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss.
Part I
Short-Term Capital Gains and Losses—Generally Assets Held One Year or Less (see instructions)
See instructions for how to figure the amounts to enter on the
lines below.
This form may be easier to complete if you round off cents to
whole dollars.
(d)
Proceeds
(sales price)
(e)
Cost
(or other basis)
(g)
Adjustments
to gain or loss from
Form(s) 8949, Part I,
line 2, column (g)
(h) Gain or (loss)
Subtract column (e)
from column (d) and
combine the result
with column (g)
1a Totals for all short-term transactions reported on Form
1099-B for which basis was reported to the IRS and for
which you have no adjustments (see instructions).
However, if you choose to report all these transactions
on Form 8949, leave this line blank and go to line 1b .
1b Totals for all transactions reported on Form(s) 8949 with
Box A checked . . . . . . . . . . . . .
2 Totals for all transactions reported on Form(s) 8949 with
Box B checked . . . . . . . . . . . . .
3 Totals for all transactions reported on Form(s) 8949 with
Box C checked . . . . . . . . . . . . .
4 Short-term gain from Form 6252 and short-term gain or (loss) from Forms 4684, 6781, and 8824 . .
5 Net short-term gain or (loss) from partnerships, S corporations, estates, and trusts from
Schedule(s) K-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6 Short-term capital loss carryover. Enter the amount, if any, from line 8 of your Capital Loss Carryover
Worksheet in the instructions
. . . . . . . . . . . . . . . . . . . . . . . .
7 Net short-term capital gain or (loss). Combine lines 1a through 6 in column (h). If you have any longterm capital gains or losses, go to Part II below. Otherwise, go to Part III on the back . . . . . .
Part II
4
5
6
(
)
7
Long-Term Capital Gains and Losses—Generally Assets Held More Than One Year (see instructions)
See instructions for how to figure the amounts to enter on the
lines below.
This form may be easier to complete if you round off cents to
whole dollars.
(d)
Proceeds
(sales price)
(e)
Cost
(or other basis)
(g)
Adjustments
to gain or loss from
Form(s) 8949, Part II,
line 2, column (g)
(h) Gain or (loss)
Subtract column (e)
from column (d) and
combine the result
with column (g)
8a Totals for all long-term transactions reported on Form
1099-B for which basis was reported to the IRS and for
which you have no adjustments (see instructions).
However, if you choose to report all these transactions
on Form 8949, leave this line blank and go to line 8b .
8b Totals for all transactions reported on Form(s) 8949 with
Box D checked . . . . . . . . . . . . .
9 Totals for all transactions reported on Form(s) 8949 with
Box E checked . . . . . . . . . . . . .
10 Totals for all transactions reported on Form(s) 8949 with
Box F checked . . . . . . . . . . . . . .
11 Gain from Form 4797, Part I; long-term gain from Forms 2439 and 6252; and long-term gain or (loss)
from Forms 4684, 6781, and 8824 . . . . . . . . . . . . . . . . . . . . . . .
12 Net long-term gain or (loss) from partnerships, S corporations, estates, and trusts from Schedule(s) K-1
13 Capital gain distributions. See the instructions . . . . . . . . . . . . . . . . . . .
14 Long-term capital loss carryover. Enter the amount, if any, from line 13 of your Capital Loss Carryover
Worksheet in the instructions
. . . . . . . . . . . . . . . . . . . . . . . .
15 Net long-term capital gain or (loss). Combine lines 8a through 14 in column (h). Then go to Part III on
the back . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
For Paperwork Reduction Act Notice, see your tax return instructions.
Cat. No. 11338H
11
12
13
14 (
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15
Schedule D (Form 1040 or 1040-SR) 2019
Page 2
Schedule D (Form 1040 or 1040-SR) 2019
Part III
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Summary
Combine lines 7 and 15 and enter the result
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16
• If line 16 is a gain, enter the amount from line 16 on Form 1040 or 1040-SR, line 6; or Form
1040-NR, line 14. Then go to line 17 below.
• If line 16 is a loss, skip lines 17 through 20 below. Then go to line 21. Also be sure to complete
line 22.
• If line 16 is zero, skip lines 17 through 21 below and enter -0- on Form 1040 or 1040-SR, line
6; or Form 1040-NR, line 14. Then go to line 22.
17
Are lines 15 and 16 both gains?
Yes. Go to line 18.
No. Skip lines 18 through 21, and go to line 22.
18
If you are required to complete the 28% Rate Gain Worksheet (see instructions), enter the
amount, if any, from line 7 of that worksheet . . . . . . . . . . . . . . . . . ▶
18
If you are required to complete the Unrecaptured Section 1250 Gain Worksheet (see
instructions), enter the amount, if any, from line 18 of that worksheet . . . . . . . . . ▶
19
19
20
Are lines 18 and 19 both zero or blank?
Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions
for Forms 1040 and 1040-SR, line 12a (or in the instructions for Form 1040-NR, line 42). Don’t
complete lines 21 and 22 below.
No. Complete the Schedule D Tax Worksheet in the instructions. Don’t complete lines 21
and 22 below.
21
If line 16 is a loss, enter here and on Form 1040 or 1040-SR, line 6; or Form 1040-NR, line 14,
the smaller of:
• The loss on line 16; or
• ($3,000), or if married filing separately, ($1,500)
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21 (
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Note: When figuring which amount is smaller, treat both amounts as positive numbers.
22
Do you have qualified dividends on Form 1040 or 1040-SR, line 3a; or Form 1040-NR, line 10b?
Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions
for Forms 1040 and 1040-SR, line 12a (or in the instructions for Form 1040-NR, line 42).
No. Complete the rest of Form 1040, 1040-SR, or 1040-NR.
Schedule D (Form 1040 or 1040-SR) 2019
Note: The form, instructions, or publication you are looking
for begins after this coversheet.
Please review the updated information below.
Reporting Excess Deductions on Termination of an Estate or Trust on
Forms 1040, 1040-SR, and 1040-NR for Tax Year 2018 and Tax Year
2019
Under Proposed Regulations 113295-18, an excess deduction on termination of an estate or
trust allowed in arriving at adjusted gross income (Internal Revenue Code (IRC) section 67(e)
expenses) is reported as an adjustment to income on Forms 1040, 1040-SR, and 1040-NR;
non-miscellaneous itemized deductions are reported, as applicable, on Schedule A (Form 1040
or 1040-SR) or Schedule A (Form 1040-NR); and miscellaneous itemized deductions are not
deductible. Taxpayers may rely on the proposed regulations for tax years of beneficiaries
beginning after 2017 and before the final regulations are published.
For tax year 2019, an excess deduction for IRC section 67(e) expenses is reported as a
write-in on Schedule 1 (Form 1040 or 1040-SR), Part II, line 22, or Form 1040-NR, line 34.
On the dotted line next to line 22 or line 34 (depending on which form is filed), enter the
amount of the adjustment and identify it using the code “ED67(e)”. Include the amount of
the adjustment in the total amount reported on line 22 or line 34.
For tax year 2018, an excess deduction for IRC section 67(e) expenses is reported as a
write-in on Schedule 1 (Form 1040), line 36, or Form 1040-NR, line 34. On the dotted line
next to line 36 or line 34, (depending on which form is filed), enter the amount of the
adjustment and identify it using the code “ED67(e)”. Include the amount of the adjustment in
the total amount reported on line 36 or line 34.
Form
1040 U.S. Individual Income Tax Return 2019
Filing Status
Check only
one box.
(99)
Department of the Treasury—Internal Revenue Service
Single
Married filing jointly
Married filing separately (MFS)
OMB No. 1545-0074
IRS Use Only—Do not write or staple in this space.
Head of household (HOH)
Qualifying widow(er) (QW)
If you checked the MFS box, enter the name of spouse. If you checked the HOH or QW box, enter the child’s name if the qualifying person is
a child but not your dependent. ▶
Your first name and middle initial
Last name
Your social security number
If joint return, spouse’s first name and middle initial
Last name
Spouse’s social security number
Home address (number and street). If you have a P.O. box, see instructions.
Presidential Election Campaign
Check here if you, or your spouse if filing
jointly, want $3 to go to this fund.
Checking a box below will not change your
tax or refund.
You
Spouse
Apt. no.
City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions).
Foreign country name
Foreign province/state/county
Standard
Deduction
Someone can claim:
Age/Blindness
You:
You as a dependent
If more than four dependents,
see instructions and ✓ here ▶
Your spouse as a dependent
Spouse itemizes on a separate return or you were a dual-status alien
Were born before January 2, 1955
(1) First name
Spouse:
Are blind
Dependents (see instructions):
Standard
Deduction for—
• Single or Married
filing separately,
$12,200
• Married filing
jointly or Qualifying
widow(er),
$24,400
• Head of
household,
$18,350
• If you checked
any box under
Standard
Deduction,
see instructions.
Foreign postal code
Was born before January 2, 1955
(2) Social security number
(3) Relationship to you
Is blind
(4) ✓ if qualifies for (see instructions):
Child tax credit
Credit for other dependents
Last name
1
Wages, salaries, tips, etc. Attach Form(s) W-2 .
2a
Tax-exempt interest .
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2a
b Taxable interest. Attach Sch. B if required
2b
3a
Qualified dividends .
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3a
b Ordinary dividends. Attach Sch. B if required
3b
4a
IRA distributions .
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4a
b Taxable amount
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4b
c
Pensions and annuities .
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4c
d Taxable amount
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4d
5a
Social security benefits .
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5a
b Taxable amount
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5b
6
Capital gain or (loss). Attach Schedule D if required. If not required, check here
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7a
Other income from Schedule 1, line 9
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7a
7b
b
8a
b
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1
6
Add lines 1, 2b, 3b, 4b, 4d, 5b, 6, and 7a. This is your total income
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Adjustments to income from Schedule 1, line 22
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8a
Subtract line 8a from line 7b. This is your adjusted gross income
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8b
Standard deduction or itemized deductions (from Schedule A) .
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9
Qualified business income deduction. Attach Form 8995 or Form 8995-A .
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10
Add lines 9 and 10 .
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Taxable income. Subtract line 11a from line 8b. If zero or less, enter -0-
For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions.
Cat. No. 11320B
Form
1040 (2019)
Page 2
Form 1040 (2019)
12a
b
13a
b
• If you have a
qualifying child,
attach Sch. EIC.
• If you have
nontaxable
combat pay, see
instructions.
Refund
Direct deposit?
See instructions.
Amount
You Owe
Third Party
Designee
Tax (see inst.) Check if any from Form(s): 1
8814 2
4972 3
Add Schedule 2, line 3, and line 12a and enter the total
Child tax credit or credit for other dependents .
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12b
13a
Add Schedule 3, line 7, and line 13a and enter the total
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13b
14
Subtract line 13b from line 12b. If zero or less, enter -0-
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Other taxes, including self-employment tax, from Schedule 2, line 10 .
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16
Add lines 14 and 15. This is your total tax .
17
Federal income tax withheld from Forms W-2 and 1099
18
Other payments and refundable credits:
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a
Earned income credit (EIC) .
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18a
b
Additional child tax credit. Attach Schedule 8812
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18b
c
American opportunity credit from Form 8863, line 8
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d
Schedule 3, line 14 .
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18d
e
Add lines 18a through 18d. These are your total other payments and refundable credits
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▶
18e
19
Add lines 17 and 18e. These are your total payments .
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20
If line 19 is more than line 16, subtract line 16 from line 19. This is the amount you overpaid .
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21a
Amount of line 20 you want refunded to you. If Form 8888 is attached, check here
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▶
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b
Routing number
▶
d
Account number
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c Type:
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Checking
22
Amount of line 20 you want applied to your 2020 estimated tax .
23
Amount you owe. Subtract line 19 from line 16. For details on how to pay, see instructions
24
Estimated tax penalty (see instructions) .
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21a
Savings
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24
▶
Do you want to allow another person (other than your paid preparer) to discuss this return with the IRS? See instructions.
Yes. Complete below.
No
(Other than
paid preparer)
Designee’s
name ▶
Sign
Here
Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true,
correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Paid
Preparer
Use Only
▲
Joint return?
See instructions.
Keep a copy for
your records.
Phone
no. ▶
Personal identification
▶
number (PIN)
Your signature
Date
Your occupation
If the IRS sent you an Identity
Protection PIN, enter it here
(see inst.)
Spouse’s signature. If a joint return, both must sign.
Date
Spouse’s occupation
If the IRS sent your spouse an
Identity Protection PIN, enter it here
(see inst.)
Phone no.
Email address
Preparer’s name
Preparer’s signature
Date
PTIN
Check if:
3rd Party Designee
Firm’s name
Firm’s address
Self-employed
Phone no.
▶
▶
Go to www.irs.gov/Form1040 for instructions and the latest information.
Firm’s EIN
▶
Form
1040 (2019)
Form
8949
Department of the Treasury
Internal Revenue Service
Sales and Other Dispositions of Capital Assets
▶
▶
Go to www.irs.gov/Form8949 for instructions and the latest information.
File with your Schedule D to list your transactions for lines 1b, 2, 3, 8b, 9, and 10 of Schedule D.
OMB No. 1545-0074
2019
Attachment
Sequence No. 12A
Social security number or taxpayer identification number
Name(s) shown on return
Before you check Box A, B, or C below, see whether you received any Form(s) 1099-B or substitute statement(s) from your broker. A substitute
statement will have the same information as Form 1099-B. Either will show whether your basis (usually your cost) was reported to the IRS by your
broker and may even tell you which box to check.
Part I
Short-Term. Transactions involving capital assets you held 1 year or less are generally short-term (see
instructions). For long-term transactions, see page 2.
Note: You may aggregate all short-term transactions reported on Form(s) 1099-B showing basis was
reported to the IRS and for which no adjustments or codes are required. Enter the totals directly on
Schedule D, line 1a; you aren’t required to report these transactions on Form 8949 (see instructions).
You must check Box A, B, or C below. Check only one box. If more than one box applies for your short-term transactions,
complete a separate Form 8949, page 1, for each applicable box. If you have more short-term transactions than will fit on this page
for one or more of the boxes, complete as many forms with the same box checked as you need.
(A) Short-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS (see Note above)
(B) Short-term transactions reported on Form(s) 1099-B showing basis wasn’t reported to the IRS
(C) Short-term transactions not reported to you on Form 1099-B
1
(a)
Description of property
(Example: 100 sh. XYZ Co.)
(b)
Date acquired
(Mo., day, yr.)
(c)
Date sold or
disposed of
(Mo., day, yr.)
(d)
Proceeds
(sales price)
(see instructions)
Adjustment, if any, to gain or loss.
If you enter an amount in column (g),
(e)
(h)
enter a code in column (f).
Cost or other basis.
Gain or (loss).
See
the
separate
instructions.
See the Note below
Subtract column (e)
and see Column (e)
from column (d) and
(f)
(g)
in the separate
combine the result
Code(s) from
instructions
with column (g)
Amount of
instructions
adjustment
2 Totals. Add the amounts in columns (d), (e), (g), and (h) (subtract
negative amounts). Enter each total here and include on your
Schedule D, line 1b (if Box A above is checked), line 2 (if Box B
above is checked), or line 3 (if Box C above is checked) ▶
Note: If you checked Box A above but the basis reported to the IRS was incorrect, enter in column (e) the basis as reported to the IRS, and enter an
adjustment in column (g) to correct the basis. See Column (g) in the separate instructions for how to figure the amount of the adjustment.
For Paperwork Reduction Act Notice, see your tax return instructions.
Cat. No. 37768Z
Form 8949 (2019)
Attachment Sequence No. 12A
Form 8949 (2019)
Name(s) shown on return. Name and SSN or taxpayer identification no. not required if shown on other side
Page 2
Social security number or taxpayer identification number
Before you check Box D, E, or F below, see whether you received any Form(s) 1099-B or substitute statement(s) from your broker. A substitute
statement will have the same information as Form 1099-B. Either will show whether your basis (usually your cost) was reported to the IRS by your
broker and may even tell you which box to check.
Part II
Long-Term. Transactions involving capital assets you held more than 1 year are generally long-term (see
instructions). For short-term transactions, see page 1.
Note: You may aggregate all long-term transactions reported on Form(s) 1099-B showing basis was reported
to the IRS and for which no adjustments or codes are required. Enter the totals directly on Schedule D, line
8a; you aren’t required to report these transactions on Form 8949 (see instructions).
You must check Box D, E, or F below. Check only one box. If more than one box applies for your long-term transactions, complete
a separate Form 8949, page 2, for each applicable box. If you have more long-term transactions than will fit on this page for one or
more of the boxes, complete as many forms with the same box checked as you need.
(D) Long-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS (see Note above)
(E) Long-term transactions reported on Form(s) 1099-B showing basis wasn’t reported to the IRS
(F) Long-term transactions not reported to you on Form 1099-B
1
(a)
Description of property
(Example: 100 sh. XYZ Co.)
(b)
Date acquired
(Mo., day, yr.)
(c)
Date sold or
disposed of
(Mo., day, yr.)
(d)
Proceeds
(sales price)
(see instructions)
Adjustment, if any, to gain or loss.
If you enter an amount in column (g),
(e)
(h)
enter a code in column (f).
Cost or other basis.
Gain or (loss).
See
the
separate
instructions.
See the Note below
Subtract column (e)
and see Column (e)
from column (d) and
(f)
(g)
in the separate
combine the result
Code(s) from
instructions
with column (g)
Amount of
instructions
adjustment
2 Totals. Add the amounts in columns (d), (e), (g), and (h) (subtract
negative amounts). Enter each total here and include on your
Schedule D, line 8b (if Box D above is checked), line 9 (if Box E
above is checked), or line 10 (if Box F above is checked) ▶
Note: If you checked Box D above but the basis reported to the IRS was incorrect, enter in column (e) the basis as reported to the IRS, and enter an
adjustment in column (g) to correct the basis. See Column (g) in the separate instructions for how to figure the amount of the adjustment.
Form 8949 (2019)
SCHEDULE B
Department of the Treasury
Internal Revenue Service (99)
▶ Go
1
Interest
2020
to www.irs.gov/ScheduleB for instructions and the latest information.
▶ Attach to Form 1040 or 1040-SR.
Attachment
Sequence No. 08
Your social security number
Name(s) shown on return
Part I
OMB No. 1545-0074
Interest and Ordinary Dividends
(Form 1040)
Amount
List name of payer. If any interest is from a seller-financed mortgage and the
buyer used the property as a personal residence, see the instructions and list this
interest first. Also, show that buyer’s social security number and address ▶
(See instructions
and the
instructions for
Forms 1040 and
1040-SR, line 2b.)
Note: If you
received a Form
1099-INT, Form
1099-OID, or
substitute
statement from
a brokerage firm,
list the firm’s
name as the
payer and enter
the total interest
shown on that
form.
Part II
1
2
3
Add the amounts on line 1 . . . . . . . . . . . . . . . . . . .
Excludable interest on series EE and I U.S. savings bonds issued after 1989.
Attach Form 8815 . . . . . . . . . . . . . . . . . . . . . .
4
Subtract line 3 from line 2. Enter the result here and on Form 1040 or 1040-SR,
line 2b . . . . . . . . . . . . . . . . . . . . . . . . ▶
Note: If line 4 is over $1,500, you must complete Part III.
List name of payer ▶
5
2
3
4
Amount
Ordinary
Dividends
(See instructions
and the
instructions for
Forms 1040 and
1040-SR, line 3b.)
Note: If you
received a Form
1099-DIV or
substitute
statement from
a brokerage firm,
list the firm’s
name as the
payer and enter
the ordinary
dividends shown
on that form.
Part III
Foreign
Accounts
and Trusts
Caution: If
required, failure
to file FinCEN
Form 114 may
result in
substantial
penalties. See
instructions.
5
Add the amounts on line 5. Enter the total here and on Form 1040 or 1040-SR,
line 3b . . . . . . . . . . . . . . . . . . . . . . . . ▶
6
Note: If line 6 is over $1,500, you must complete Part III.
You must complete this part if you (a) had over $1,500 of taxable interest or ordinary dividends; (b) had a
foreign account; or (c) received a distribution from, or were a grantor of, or a transferor to, a foreign trust.
6
7a
Yes No
At any time during 2020, did you have a financial interest in or signature authority over a financial
account (such as a bank account, securities account, or brokerage account) located in a foreign
country? See instructions . . . . . . . . . . . . . . . . . . . . . . . .
If “Yes,” are you required to file FinCEN Form 114, Report of Foreign Bank and Financial
Accounts (FBAR), to report that financial interest or signature authority? See FinCEN Form 114
and its instructions for filing requirements and exceptions to those requirements . . . . . .
b If you are required to file FinCEN Form 114, enter the name of the foreign country where the
financial account is located ▶
8
During 2020, did you receive a distribution from, or were you the grantor of, or transferor to, a
foreign trust? If “Yes,” you may have to file Form 3520. See instructions . . . . . . . . .
For Paperwork Reduction Act Notice, see your tax return instructions.
Cat. No. 17146N
Schedule B (Form 1040) 2020

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