complete the year 2020 tax problem with the forms provided (fille out the all the forms for problem, all fhe forms needed to fill out for the problem are provided)

Individual Tax Return Required: Use the following information to complete Paige Tumer's 2020 federal income tax retum. If any information is missing, use reasonable assumptions to fill in the gaps. Facts: 1. Paige Turner is single and has two children from her previous marriage. Ali lives with Paige, and Paige provides more than half of her support. Leif lives with his father, Will (Leif lived with Will for all of 2020). Will provides more than half of Leifs support Paige provides you with the following additional information: She uses the cash method of accounting and a calendar year for reporting. She wishes to contribute to the presidential election campaign. Paige lives at 523 Essex Street, Bangor, Maine 04401. o Paige's birthday is May 31, 1982. Ali's birthday is October 5, 2011 Leif's birthday is December 1, 2009, Paige's Social Security number is 007-11-4727. Ali's Social Security number is 005-11-7232 o Leifs Social Security number is 004-22-3419. o Will's Social Security number is 006-33-6333. She does not have any foreign bank accounts or trusts. 2. Paige is employed as a nuclear engineer with Atom Systems Consultants, Inc. (ASCT). ASCI's federal employer identification number is 79-1234466. Paige's pay stubs indicate that she had $4,230 withheld in federal taxes, and $4.987 in state taxes, as well as the appropriate Social Security and Medicare taxes. ASCI has an extensive fringe benefits program for its employees. 3. Paige carned salary of 463,037. 8. On January 15, 2020, Paige's father died. From her father's estate, she received stock valued at $30,000 (his basis was $12,000) and her father's house valued at $90.000 (his basis in the house was $55,000). 9. Paige owns several other investments and in February 2021 received a statement from her brokerage firm reporting the interest and dividends earned on the investments for 2020: EXHIBIT A This is important tax information and is being furnished to the Internal Revenue Service 1099-DIV- Dividends and Distributions Entity Description Amount General Dynamics Ordinary qualified dividends $300 1099-INT-Interest Entity Description Amount New Jersey Economic Development (bonds) Interest $300 IBM Interest 700 State of Nebraska (bonds) Interest 700 1098 - Mortgage Interest Statement Entity Description Amount Sunbelt Credit Union Mortgage interest $7,100 Northeast Bank Mortgage interest 435 Form K-1 (preliminary) Entity Description Amount Grubstake Mining & Development Corp. Ordinary income $2,000 Distribution 1.000 10. Paige owns 1,000 shares of Grubstake Mining & Development common stock. Grubstake is organized as an Scorporation and has 100,000 shares outstanding (Scorp. ID number 45-4567890). Grubstake reported taxable income of $200,000 and paid a distribution of $1.00 per share during the current year. Paige tells you that Grubstake typically does not send out its K-1 reports until late April. However, its preliminary report (sec Exhibit A) has been consistent with the K-1 for many years. Paige does not materially participate in Grubstake's activities. 11. Paige slipped on a wet spot in front of a computer store last July. She broke her ankle and was unable to work for two weeks. She incurred $1,300 in medical costs, all of which were paid by the owner of the store. The store also gave her $1,000 for pain and suffering resulting from the injury. ASCI continued to pay her salary during the two weeks she missed because of the accident and also paid her $1,200 in disability pay for the time she was unable to work. Under its plan, ASCI pays the premiums for the disability insurance as a nontaxable fringe benefit. 12. Paige received a Form 1099-B from her broker for the sale of the following securities during 2020. The basis amounts were reported to the IRS. Security Sales Date Purchase Date Sales Price Her Basis Nebraska state bonds 03 14 2020 10 22 2014 S2.300 1.890 Casill Corp 1500 chanes 10 20 3030 02 19 2018 R300 9.760 13. In addition to the taxes withheld from her salary, Paige also made timely estimated federal tax payments of $175 per quarter and timely estimated state income tax payments of S150 for the first three quarters. The $150 fourth-quarter state payment was made on December 28, 2020. Paige would like to receive a refund for any overpayment. 14. Because of her busy work schedule, Paige was unable to provide her accountant with the tax documents necessary for filing her 2019 state and federal income tax returns by the due date (July 15, 2020). In filing her extension on July 13, 2020, she made a federal tax ? payment of S750. Her return was eventually filed on September 25, 2020. In November 2020, she received a federal refund of $180 and a state tax refund of S60. Her itemized deductions for 2019 were $12,430. 15. Paige found a renter for her father's house on August 1. The monthly rent is $400, and the lease agreement is for one year. The lease requires the tenant to pay the first and last months' rent and a $400 security deposit. The security deposit is to be returned at the end of the lease if the property is in good condition. On August 1, Paige received 1.200 from the tenant per the terms of the lease agreement. In November, the plumbing froze and several pipes burst. The tenant had the repairs made and paid the $300 bill In December, he reduced his rental payment to $100 to compensate for the plumbing repairs. Paige provides you with the following additional information for the rental in 2020- Property taxes S770 Other maintenance expenses 285 Insurance expense 495 Management fee 350 Depreciation to be computed) 16. The rental property is located at 35 Harvest Street, Orono, Maine 04473. Local practice is to allocate 12 percent of the fair market value of the property to the land. (See item 18.) Paige makes all decisions with respect to the property. 17. Paige paid $2,050 in real estate taxes on her principal residence. The real estate tax is used to pay for town schools and other municipal services. 18. Paige drives a 2018 Acura TL. Her car registration fee (based on the car year) is $50 and covers the period 1/1/2020 through 12/31/2020. In addition, she paid $280 in personal property tax to the state based on the fair market value of the cat. 19. In addition to the medical costs presented in item #11, Paige incurred the following unreimbursed medical costs: Dentist S 310 Doctor Preseription drugs Over-the-counter drugs 140 Optometrist 125 Emergency room charges 440 LASIK eye surgery 6,000 Chiropractor 265 20. On March 1, Paige took advantage of low interest rates and refinanced her $75,000 home mortgage with her original lender. Paige purchased the home in 2018. The new home loan is for 15 years. She paid $215 in closing costs and $1,500 in discount points (prepaid interest) to obtain the loan. The house is worth $155,000 and Paige's basis in the house is $90,000. As part of the refinancing arrangement, she also obtained a $10,000 home- equity loan. She used the proceeds from the home-equity loan to reduce the balance due on her credit cards. Paige received several Form 1098 statements from her bank for interest paid by her in 2020. Details appear below (also see Exhibit Ay Primary home mortgage $7,100 Home-equity loan 435 Credit cards 498 Car loan 390 390 215 5850 21. On May 14, 2020, Paige contributed clothing to the Salvation Army. The original cost of the clothing was $740. She has substantiation valuing the donation at S360. The Salvation Army is located at 350 Stone Ridge Road, Bangor, Maine 04401. In addition, she made the following cash contributions and received a statement from each of the following organizations acknowledging her contribution: Larkin College United Way 125 First Methodist Church 790 Amos House (homeless shelter) 200 Local Chamber of Commerce 100 22. Paige sells real estate in the evening and on weekends (considered an active trade or business). She runs her business from a rental office she shares with several other realtors (692 River Road, Bangor, Maine 04401). The name of her business is Turner Real Estate and the federal identification number is 05-8799561. Her business code is 531210. Paige has been operating in a business-like way since 2008 and has always shown a profit. She had the following income and expenses from her business: Commissions earned $21,250 Expenses: Advertising 2,200 Real estate license 130 Rent 6,000 Utilities 695 23. Paige uses her 2018 Acura TL in her business. During 2020, she properly documented 6,000 business miles. The total mileage on her car (.e., for both business and personal use) during the year was 15.000 miles (including 200 miles commuting to and from the real estate office). In 2020, Paige elects to use the standard mileage method to calculate her car expenses. She spent $45 on tolls and 5135 on parking related to the real estate business The following IRS Forms should be included in your Individual Tax Return Problem: Form 1040 - Pages 1 and 2 Schedule 1 - Additional Income and Adjustments to Income Schedule 2 - Additional Taxes Schedule A - Itemized Deductions Schedule B - Interest and Ordinary Dividends Schedule C - Profit or Loss From Business Schedule D - Capital Gains and Losses Schedule E - Supplemental Income and Loss Schedule SE -Self-Employment Tax Form 8995 - Qualified Business Income Deduction Form 8582 - Passive Activity Loss Limitation Form 4562 - Depreciation and Amortization All IRS Forms may be found at the following website: IRS.Gov OMEN 1545-007 $1040 U.S. Individual Income Tax Return 2021 Filing Status Single Married fling joindy Marted tling party wes Head of household HOH Qualitying widower tom Check only one box you checked the MFS box, enter the name of your spome. you checked the HOHOW box, enter the child's name it the qualitying person is a child but not your dependent Your social security number Your name and midden un trame and middle Spouse's social security number 1 Home address umber and tryou have a PO box, section Act. President Election Campaign Check here if you or your Chytown, or post office you have a foreign the complete Sh spouse Singintly, want $3 to go to this fund. Checking box below will not charge Foreign country name Forgproverty Fade your tax or rund. You see At any time during 2021, did you receive, sel, exchange or otherwise dispose of any financial interest in any virtual currency? Yes No Standard Someone can claim you as a dependent Your spouse as a dependent Deduction Spouse tamirus on a separate retum or you were a status den Age/Bindness You Were bom before January 21957 Are blind Spouse was bombefore January 2.1957 Is blind Dependents to instruction ST forcon Frame more to you Od tax credit Credit for others than four dependents se instructions and check here 1 Wages, salaries, tips, etc. Attach Form 2 Attach 2a Tax-exempt interest Taxable interest SchB 30 3a Qualified dividends apura b Ordinary dividende 4a RA distributions 4a Taxable amount 5a Pensions and anties 5a Taxable amount Standard Ba Social security benefits Taxable amount Deduction for 7 Capital gain or loss). Attach Schedule Drequired not regard. check here Mardin 6 Other income from Schedule 1. line 10 $12.00 9 Addlines 1. 2. 3. 4. 5. 6. 7. and. This is your total income ng 10 Adjustments to come from Schedule 1. line 26 10 buig 11 Subtract line 10 from line. This is your adjusted gross income 11 100 12 Standard deduction or temi deductions from Schedule 120 Hedo b Charitable contributions you take the standard deduction instruction 126 ho STRO Add lines 12 and 12 12 hear 13 Qualified business income deduction from For 1995 or FormA w San 14 Add lines 12 and 13 15 Taxable income. Subtract line 14 tromline 11. retro- 15 For Disclosure, Privacy Act, and Paperwork Reduction Act Notice teren 300 Fo 1040 -AAF 13 14 1:|: | a s/ a n a 27b 20 Form 10400020 Page 2 16 Tax see natruction. Check it any from Forms 1884 24972 30 17 Amount from Schedule 2 line 3 18 Addnes 16 and 17 19 Nonrefundable child tax credit or credit for other dependents from Schedule 8812 20 Amount from Schedule 3, line 8 21 Add lines 19 and 20 22 Subtract line 21 from line 18. If zero or less, enter- 23 Other taxes, including self-employment tax from Schedule 2 line 21 24 Add lines 22 and 23. This is your total tax 25 Federal income tax withheld from a FormW-2 25a Forms) 1099 25b Other forms se instructions 250 d Add lines 25 through 250 250 If you have 26_ 2021 estimated tax payments and amount applied from 2020 return 20 qualifying child 27a Earned Income credit (EIC) 27a anach Sch DC Check here you were born after January 1, 1998, and before January 2, 2004, and you satisfy all the other requirements for taxpayers who are at least age 18. to claim the EIC See instructions Nontaxable combat pay election c Prior year (2019) earned income 276 28 Refundable child tax credit or additional child tax credit from Schedule 8812 28 29 American opportunity credit from Form 1863, line 8 30 Recovery rebate credit. See Instructions 30 31 Amount from Schedule 3, line 15 31 32 Add lines 27 and 28 through 31. These are your total other payments and refundable credits 32 33 Add lines 25, 26, and 32. These we your total payments 33 34 Refund line 33 is more than in 24. subtract line 24 from line 33. This is the amount you over paid 34 356 Amount of line 34 you want refunded to you. I Form B888 is attached, check here 35a Directeur Routing number Se non Account number c Type: Checking Saving 36 Amount of line 34 you want applied to your 2022 estimated tax 30 Amount 37 Amount you owe. Subtract line 33 from line 24. For details on how to pay, se instructions You Owe 38 Estimated tax penalty (see instructions 38 Third Party Do you want to allow another person to discuss this return with the RS? See Designee instructions Yos. Complete below No Design's Phone Personalidation na no Sign Under penalties of perury. I declare that have examined his retum and companying schedules and stations, and to the best of my knowledge and belief they are un correct and complete Declaration of prepare the antspayer la band on all information of which proposary knowledge Here Your signature Due Your occupation then you an identity Protection PIN there Joint see) See instruction Spo'stu. Ia joint return both must Date Spouse'cupation the RS sent your spouse Keep a copy for your record Identity Protection Penter there sent) Pronen Emaladie Preparer's Preparer's nature Date Paid PTIN Check Preparer sul comployed Use Only Phone Fum's address Fum's EN Go to www.ingowl Form 100 for instruction and the latest information Form 104000 Attachment 2a 4 5 6 7 8d SCHEDULE 1 OMB No 1545-6074 (Form 1040) Additional Income and Adjustments to Income 2021 Department of the Attach to Form 1040 1040-SR or 104-NR. en Sevice Go to www.ire gowl Form 100 for instructions and the latest information SEN 01 Namejs shown on Form 1040, 1040-SR, or 1040-NR Your social security number Parti Additional Income 1 Taxable refunds, credits, or offsets of state and local income taxes 1 2a Alimony received b Date of original divorce or separation agreement (see instructions) 3 Business income or loss). Attach Schedule C 3 4 Other gains or losses). Attach Form 4797 5 Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E 6 Farm income or loss). Attach Schedule F 7 Unemployment compensation 8 Other income: a Net operating loss 8a b Gambling income 8b c Cancellation of debt. 8c d Foreign earned income exclusion from Form 2555 e Taxable Health Savings Account distribution f Alaska Permanent Fund dividends. 81 g Jury duty pay 8g h Prizes and awards 8h i Activity not engaged in for profit income Stock options 8) k Income from the rental of personal property if you engaged in the rental for profit but were not in the business of renting such property 8k 1 Olympic and Paralympic medals and USOC prize money (see instructions). m Section 951(a) inclusion (see instructions) 8m n Section 951A(a) inclusion (see instructions) 8n o Section 461) excess business loss adjustment 80 P Taxable distributions from an ABLE account (see instructions) z Other income. List type and amount 8 9 Total other income. Add lines &a through 8. 10 Combine lines 1 through 7 and 9. Enter here and on Form 1040, 040-SR, or 1040-NR, line 8 10 For Paperwork Reduction Act Notice, see your tax return instruction. Schedule 1 Form 1046 2021 8e 81 81 9 SchedForm 10101001 Page 2 11 12 13 14 15 16 17 18 19a 20 21 22 23 Part 1 Adjustments to Income 11 Educator expenses 12 Certain business expenses of reservists, performing artists and fee-basis government officials. Attach Form 2106 13 Health savings account deduction. Attach Form 8889 14 Moving expenses for members of the Armed Forces. Attach Form 3903 15 Deductible part of self-employment tax. Attach Schedule SE 16 Self-employed SEP. SIMPLE, and qualified plans 17 Self-employed health insurance deduction 18 Penalty on early withdrawal of savings 19a Alimony paid. b Recipient's SSN c Date of original divorce or separation agreement (see instructions) 20 IRA deduction 21 Student loan interest deduction 22 Reserved for future use 23 Archer MSA deduction 24 Other adjustments: a Jury duty pay (see instructions) 24a b Deductible expenses related to income reported on line 8k from the rental of personal property engaged in for profit c Nontaxable amount of the value of Olympic and Paralympic medals and USOC prize money reported on line 8 d Reforestation amortization and expenses e Repayment of supplemental unemployment benefits under the Trade Act of 1974. 1 Contributions to section 501(c)(18)D) pension plans. g Contributions by certain chaplains to section 403(b) plans 249 h Attorney fees and court costs for actions involving certain unlawful discrimination claims (see instructions) i Attorney fees and court costs you paid in connection with an award from the IRS for information you provided that helped the IRS detect tax law violations Housing deduction from Form 2555 24 k Excess deductions of section 67(e) expenses from Schedule K-1 (Form 1041) z Other adjustments. List type and amount 242 25 Total other adjustments. Add lines 24a through 242 26 Add lines 11 through 23 and 25. These are your adjustments to income. Enter here and on Form 1040 or 1040-SR, line 10, or Form 1040-NR. line 102 24b 24c 24d 24e 24 24h 241 24K 25 26 Schede 1 Form 100 2001 SCHEDULE 2 OMN1565-00 (Form 1040 Additional Taxes Department of the Treaty Attach to Form 1040 1040-SR, or 1000-NR. 2021 Intan Sarice Go to www.ing.govi Form1080 for instructions and the latest Information, Anh SN 02 Names) shown on Form 1040 1040-SR or 1040-NR Your social security number 1 2 3 5 7 8 Part Tax 1 Alternative minimum tax. Attach Form 6251 2 Excess advance premium tax credit repayment. Attach Form 8962 3 Add lines 1 and 2. Enter here and on Form 1040,1040-SR, or 1040-NR, line 17 Part II Other Taxes 4 Self-employment tax. Attach Schedule SE. 5 Social Security and Medicare tax on unreported tip income. Attach Form 4137 ++. 6 Uncollected social security and Medicare tax on wages. Attach Form 8919 7 Total additional social security and Medicare tax. Add lines 5 and 6 8 Additional tax on IRAs or other tax-favored accounts. Attach Form 5329 if required 9 Household employment taxes. Attach Schedule H 10 Repayment of first-time homebuyer credit. Attach Form 5405 if required 11 Additional Medicare Tax. Attach Form 8959 12 Net investment income tax. Attach Form 8960 12 13 Uncollected social security and Medicare or RRTA tax on tips or group-term life insurance from Form W-2, box 12 14 Interest on tax due on installment income from the sale of certain residential lots and timeshares. 15 Interest on the deferred tax on gain from certain installment sales with a sales price over $150,000 16 Recapture of low-income housing credit. Attach Form Form 8611 (continued on page 2) For Paperwork Reduction Act Nodice, see your tax return instructions 9 10 11 13 14 15 16 Cat No. Schedule 2 for 100 2001 Page 2 17b 17d 17e 171 17h Schedule 2 Form 100 2021 Part 11 Other Taxes (continued) 17 Other additional taxes: a Recapture of other credits. List type, form number, and amount ! 17a b Recapture of federal mortgage subsidy. If you sold your home in 2021, see instructions.. c Additional tax on HSA distributions. Attach Form 8889 17c d Additional tax on an HSA because you didn't remain an eligible individual. Attach Form 8889 .. e Additional tax on Archer MSA distributions. Attach Form 8853 Additional tax on Medicare Advantage MSA distributions. Attach Form 8853 g Recapture of a charitable contribution deduction related to a fractional interest in tangible personal property. 179 n Income you received from a nonqualified deferred compensation plan that fails to meet the requirements of section 409A i Compensation you received from a nonqualified deferred compensation plan described in section 457A 171 Section 72m)(5) excess benefits tax 17j k Golden parachute payments. | Tax on accumulation distribution of trusts m Excise tax on insider stock compensation from an expatriated corporation n Look-back interest under section 167(g) or 460(b) from Form 8697 or 8866 17n o Tax on non-effectively connected income for any part of the year you were a nonresident alien from Form 1040-NR. p Any interest from Form 8621, line 16f, relating to distributions from, and dispositions of stock of a section 1291 fund. 17p 4 Any interest from Form 8621, line 24 z Any other taxes. List type and amount 172 18 Total additional taxes. Add lines 17a through 172 19 Additional tax from Schedule 8812 20 Section 965 net tax liability installment from Form 965-A 20 21 Add lines 4.7 through 16, 18, and 19. These are your total other taxes. Enter here and on Form 1040 or 1040-SR, line 23, or Form 1040-NR, line 23b. Schedule 2 Form 10402021 17k 171 17m 170 179 18 19 21 07 SCHEDULE A Itemized Deductions MBS (Form 1040) Go to www.insgow Schedule for instructions and the latest formation Det of the Attach to Form 1040 or 104-SR 20 21 Maral na lice Caution you are claimingant qualified disasters on Form 4664.ee the action for ine 6 A Name owen Fom 1940 1940-SR Your security Medical Caution: Do not include expenses reimbursed or paid by others and 1 Medical and dental expenses se instructions Dental 2 Enter amount from Form 1040 or 1040-SR. Iine 112 Expenses 3 Multiply line 2 by 7.5% 0.075) 3 4 Subtract line 3 from line 1. in 3 is more than line 1. entero Taxes You State and local taxes Paid a State and local income taxes or general sales taxes. You may include other income taxes or general sales taxes on line 5a, but not both. you clect to include general sales taxes instead of income taxes check this box b State and local real estate antes de instructions State and local personal property taxes dAddines Sa through 5c e Enter the smaller of line 5d or $10.000 $5,000 of married fling separately) 6 Other taxes List type and amount 7 Add lines Se and Interest 8 Home mortgage interest and points. If you didn't use all of your home You Paid mortgage loans to buy build, or improve your home see Cavion You instructions and check this box mortgager Gelin martea Home mortgage interest and points reported to you on Form 1098 See instructions it limited b Home mortgage interest not reported to you on Form 1098. See Instructions de limited. I paid to the person from whom you bought the home see instructions and show that person's name, identifying no and address @888 110 Points not reported to you on Form 1098. See instructions for special rules Bc d Mortgage insurance premium free Instruction) Bd Add lines a tough od Be Investment interest. Attach Form 4952 required. See instructions 10 Add lines Be and 9 Gifts to 11 Gifts by cash or check. If you made any gift of $250 or more See Charity Instructions 11 Caution: you 12 Other than by cash or check. If you made any gift of $250 or more made see instructions. You must attach Form 8283 it over $500 12 sertion 13 Carryover from prior year 13 14 Add lines 11 through 13 Casualty and 15 Casualty and the losses from a federally declared disaster other than not qualified Theft Losses disaster losses. Attach Form 4684 and enter the amount from line 18 of that form. See Instructions 15 Other 16 Other from listin instructions. List type and amount Itemized Deductions Total 17 Add the amounts in the far right column for in 4 through 16. Ano, enter this amount on Itemized Form 1040 or 1040-SR, line 120 Deductions 18 you elect to itemize deductions even though they are less than your standard deduction check this box For Paperwork Reduction Act Notices the Instruction for Forma 1040 and 1040-SR Chec Schedule GEN SCHEDULE Form 1040 De Interest and Ordinary Dividends Go to www.in.pow/Schedule for instruction de test istot Attach to Form 1040 1040-GR 221 Amount 1 List name of Dayer. If any interest is from a seller-financed manage and the buyer used the property as a personal residence, see the instructions and this interest first. Also, show that buyer's socurity number and address Part 1 Interest Section and the Instructions for Form 1040, $ Not you wa fom 1099-INT. Form 1000D waste from brotom ist them's namas the payer and an De totes shown on 2 Add the amounts on line 1 2 3 Bxcludable interest on series EE and US savings bonded Attach Form 8315 3 4 Subtract line from line 2. Enter the rester and on Form 1040 1040 SR line 2 4 Note: I line 4 is over $1.500, you must complete Parti Amount Part II 5 Listoper Ordinary Dividends Sertion and the Instructions for For 1040, in 30.) Noteyou received a form 109 IV w statement from brokerage for name as the payer and are the ordinary avidandoAdd the amounts on line 5. Enter the total here and on Form 100 1040 SR on to line 36 Note: in 100. you must complete Part Part III You must complete this partit you al had over $1.500 of taxable terest or ordinary Science had a foreign account or del received a derbution from, or were a grande transfer to broen trust Yes No Foreign 7a At any time during 2021, did you have a financial interest in our author over a financial Accounts account such as a bank account, securities account or brange accounts located in a foreign and Trusts country? See instructions Caution "Yes" are you required to the FCEN Form 114. Report of Forg Bank and Financial morda Accounts FBAR, to report that financial interest or graturehoty See FEN Form 114 to FCEN and its instructions for Bling requirements and exceptions to the recente Form 114 may you are required to file FINCEN Form 114. enter the name of the foreign country where the financial account is located pan. During 2021, did you receive a distribution trom or were you se granter for transfer to fansions? Yes. You may have to loom 3520. Seins For Paperwork Reduction Act Notice, see your tax return instructions Schedule Form 19402021 SCHEDULEC Profit or Loss From Business OMB No 1545-0074 (Form 1040) Sole Proprietari 2021 Dette Go to www.ingow/Schedule for instruction and the latest information Attachment wted Mere Service Attach to Form 1040 1040-SR. 1000-NR. 104: partnerships must generally ste Form 1065 Sa 09 Name of proprietor Social security number (SSN A Principal business or profession, including product or viction B Enter code from instruction DOOD - 4 . Business name. Ir no separate businessmave blank D E Business address including suite or room no.) Cty town or post office state, and DP code F Accounting method m) Cash 12 Acorul a Con G Did you "material participate in the operation of this business during 2017 structions for mones Yes No you started or acquired this business during 2021, check here Did you make any payments in 2021 that would require you to file Forma 10097 See instructions Yes No "Yes" did you or will you le required Form 10997 Yes No Part 1 Income + Gross receptores Seestructions for line and check box income was reported to you For W-2 and the Statutory employee box that form was checked 1 2 Returns and lowances 3 Subtract line from line 1 3 4 Cost of goods sold from line 123 5 Gross profil. Subtractine 4 fromine 5 Other income, including federal and state gone fotored or understructions 6 7 Gross income. Add lines 5 and 6 Part II Expenses. Enter expenses for business use of your home only on line 30 # Advertising 10 Oce exponential . Car and track expenses 19 Pod proting plans 19 structions 9 20 Rantations 10 Commissions and foes 10 Vice machinery, and mart 2012 11 Contract abortion 11 Other property 12 Depletion 12 21 Repair and maintenance 13 Depreciation and section 179 expense deduction that 22 Sclerot included in Part included in Part see 23 Todas Instructions 13 24 Travel and 14 Employee bent programs a Travel fether than on line 19 14 Deductie 15 surance her than the 15 16 Interests instruction 25 a Mortgage paid to bark ) 160 25 Wages employment credits b Other 160 27 Other promin 17 Legal and professional Services 17 Reserved for ture use 28 Total expenses before expenses for business use of home Address through 27 29 Tentative profit or Subtractin 28 fromine 30 Expenses for business use of your home. De not report them here. Attach Form 129 unless using the simplified method. See Instructions Simplified method flers only: Enter the total square footage of your home and by the part of your home used for business Use the Simplified Method Worksheet in the instructions to figure the amount to enter on 30 31 Net profit or loss. Subtractine 30 from in . a profit enter on both Schedule 1 Form 1080), line and on Schedule SE, in 2. you checked the box on line 1, se instruction Estates and tratton Form 1041, line 2 31 faloss, you must go to line 32 32 you have a loss, check the box that describes your investment in Sonstructions you checked 32 enter the loss on both Schedule 1 Form 104. lead on Schedule SE, line 2. you checked the box on in the line 31ctions) Estates and trustsenteron Al investment is at risk Form 1041, linea 326 Some investment is not if you checked 32b. you must attach Form 6186. Your lommerbe med For Paperwork Reduction Act Notice, see the separate instructions CP Schedule Ciform10402021 A ES GAS BBE DD 35 Schefom 100 2001 Page Part II Cost of Goods Sold see instructions 33 Methods used to value closing inventory Cout b Lower of cost or market Doch explanation 34 Was there any change in determining quarties, costs, or valuations between opening and country "Yes."attach explanation No > Inventory at beginning of your. It aitarent trom last your doing martory, anach explanation * Purchases scout of tome withdrawn for personal une 37 Cost of labor. Do not include any amounts paid to yourself 37 > Materials and and supplies Other costs Add fines through Inventory at end of you Cost of goods sold. Subtract line 41 from ine 40. Enter the rulare and online Part IV Information on Your Vehicle. Complete this part only if you are claiming car or truck expenses on line 9 and are not required to file Form 4562 for this business. See the instructions for line 13 to find out if you must file Form 4562 2 39 40 40 41 41 42 44 Yes No 43 When did you place your vehicle wrice for business purposes?montidae of the tota cumber of miles you drove your vehicle during 2021, enter the number of miles you and you with Business Commuting te rruction 45 was your vehicle walable for personal use during of duty hours? 45 Do you for your spoutej hieve another vehicle available for personal use? 47 Do you have evidence to support your deduction? "Yes. the evidence written? Partv Other Expenses. List below business expenses not included on lines 8-25 or line 30 Yes Ne Yes Ne Yes Total other expenses. Enter here and on line 27 Schedule Form 1000 SCHEDULED Form 10401 OMNS-008 Capital Gains and Losses Attach to Form 1040, 1040-SR, or 1040-NR Go to www.irs.gov/Schedule for instructions and the latest Information Use Form 8949 to list your transactions for lines 1b, 2.2, 3, R. and 10. 2021 Department of the internet Service Name hown onretum Sec 12 Your social security number 4 Did you dispose of any investments) 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 Part1 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 NG lines below Auments S Pro to grosso trom This form may be easier to complete if you round off cents to for the Format combine the whole dollars. 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 instructions) However, if you choose to report all these transactions on Form 8949, leave this line blank and go to line tb 1b Totals for all transactions reported on Forms 8949 with Box A checked 2 Totals for all transactions reported on Formis) 8949 with Box B checked 3 Totals for all transactions reported on Forms) 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 Schedules) K-1 5 6 Short-term capital loss carryover. Enter the amount, if any, from line 8 of your Capital Loss Carryover Worksheet in the instructions 6 7 Net short-term capital gain or loss). Combine lines ta through 6 in column. If you have any long term capital gains or losses, go to Part II below. Otherwise, go to Part Ill on the back 7 Part II Long-Term Capital Gains and Losses - Generally Assets Held More Than One Year (see instructions) Soe instructions for how to figure the amounts to enter on the | lines below. Adjustments Subtract Process This form may be easier to complete if you round off cents to gan rious tomtom column prio for other Form Paco whole dollars. 2.com 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 8 8b Totais for all transactions reported on Formis) 8949 with Box D checked 9 Totals for all transactions reported on Forms) 8949 with Box E checked 10 Totals for all transactions reported on Forms 8949 with Box F checked 11 Gain from Form 4797, Part t long-term gain from Forms 2439 and 6252 and long-term gain or loss from Forms 4684, 6781, and 5824 11 12 Not long-term gain or loss) from partnerships, Scorporations, estates, and trusts from Schedules) K-1 12 13 Capital gain distributions. See the instructions 13 14 Long-term capital loss carryover. Enter the amount, if any, from line 13 of your Capital Loss Carryover Worksheet in the instructions 14 15 Net long-term capital gain or loss). Combine lines Ba through 14 in column. Then go to Part on the back 15 For Paperwork Reduction Act Notice, see your tax retur instructions Cat No. 113 Schedule Dorm 100 2001 Schedule D Form 1000 2021 Part II Summary 16 18 19 16 Combine lines 7 and 15 and enter the result If line 16 is a gain, enter the amount from line 16 on Form 1040, 1040-SR, or 1040-NR, line 7 Then go to line 17 below. line 16 is a loss, skip lines 17 through 20 below. Then, go to line 21. Also be sure to complete line 22. it line 16 is zero, skip lines 17 through 21 below and enter -- on Form 1040, 1040-SR, or 1040-NR, line 7. Then, go to line 22. 17 Arelines 15 and 16 both gain? Yes. Go to line 18 No. Skip lines 18 through 21, and go to lino 22 18 you are required to complete the 28% Rate Gain Worksheet (see instructions), enter the amount, if any, from line 7 of that worksheet 19 you are required to complete the Unrecaptured Section 1250 Gain Worksheet (see instructions), enter the amount, if any, from line 18 of that worksheet 20 Aralines 18 and 19 both zero or blank and are you not filing Form 4952? Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Forms 1040 and 1040-SR, line 16. 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 line 16 is a loss, enter here and on Form 1040, 1040-SR, or 1040-NR, line 7, the smaller of: The loss on line 16 or ($3,000), or if married filing separately. (51,500) Note: When figuring which amount is smaller, treat both amounts as positive numbers 22 Do you have qualified dividends on Form 1040, 1040-SR, or 1040-NR, line 3a? Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Forms 1040 and 1040-SR, line 16 No. Complete the rest of Form 1040 1040-SR, or 1040-NR: } 21 Schedule Dorm 100 2001 SCHEDULE E (Form 1040) Dictator met Name shown on tum Supplemental Income and Loss ONE M1545-001 From rental real estate, royalties, partnerships, Scorporations, estates, trust, REMIC, etc.) Attach to Form 1040 1040-SR, 1040-NR. or 1041 2021 Go to www.in.poulSchedule for instructions and the latest information Attachment Segance No 13 Your security Part 1 Income or Loss From Rental Real Estate and Royalties Note: If you are the business of renting personal property, use Schedule C. See instructions. If you are an individual report for rental income rostrom Form 63 on page 2 line 40 A Did you make any payments in 2021 that would require you to file Formis) 10997 See instructions Yes No B I "Yes." did you or will you file required forms) 10997 Yes No 1a Physical address of each property (street, City, state, ZIP code B 1b Type of Property 2 For each rental real estate property listed Fair Rental Personal Use (from list below above, report the number of a rental and QJV Days Days personalise days. Check the Q.JV box only you meet the requirements to file as a A B qualified joint venture. See Instructions B Type of Property: 1 Single Family Residence 3 Vacation/Short-Term Rental 5 Land 7 SoRental 2 Multi-Family Residence 4 Commercial 6 Roxas 8 Other described Income: Properties: A B 3 Rents received 3 4 Royalties received 4 Expenses: 5 Advertising 5 6 Auto and travel (see instructions) 6 7 Cleaning and maintenance 7 8 Commissions. 8 9 Insurance 9 10 Legal and other professional fees 10 11 Management fees 11 12 Mortgage interest paid to banks, etc. (see instructions 12 13 Other interest 13 14 Repairs 14 15 Supplies 15 16 Taxes 16 17 Utilities 17 18 Depreciation expense or depletion 18 19 Others 19 20 Total expenses. Add lines 5 through 19 20 21 Subtract line 20 from line 3 trents, and/or 4iroyalties). result is a floss), see instructions to find out if you must fe Form 6198 21 22 Deductible rental real estate loss after limitation, if any. on Form 8582 see instructions 22 23a Total of all amounts reported on line 3 for all rental properties 23. bTotal of all amounts reported on line 4 for all royalty properties 230 Total of all amounts reported on line 12 for all properties 23 Total of all amounts reported on line 18 for all properties 230 Total of all amounts reported online 20 for all properties 230 24 Income. Add positive amounts shown on line 21. Do not include any losses 24 25 Losses. Add royalty losses from line 21 and renta real estate losses from line 22. Enter total loses here 26 Total rental real estate and royalty income or floss). Combine lines 24 and 25. Enter the rest here. If Parts 1, I, IV. and line 40 on page 2 do not apply to you also enter this amount on Schedule 1 Form 1040, line 5. Otherwise, include this amount in the total on line 41 on page 2 For Paperwork Reduction Act Notice, see the separate instructions Schedule E Form 1040 2021 P2 DUA Schedule 1000 2001 AN 13 Name shown on tum. Den er name and we shown Your cal security number Caution: The IRS compares amounts reported on your tax retum with amounts shown on Schedules K-1. Part II Income or Loss From Partnerships and S Corporations - Not you report alo.receive a distribution, dispose of stock, or receive alrepayment from an Scorporation, you must check the box column on line 23 and each the required basis computation. If you report a loss from an activity for which my mount anottisk, you must check the box in column in 23 and attach Form 6196. Sestruction 27 Are you reporting any loss not allowed in a prior year due to the at-risk or bonis limitations, a prior year unallowed loss from a passive activity of that loss was not reported on Form 52). Or reimbursed partnership expenses? If you answered "Yes." see instructions before completing this section Yes No EP OM ME 28 Check Check ters fo computation E B D Passive Income and Loss Nonpassive Income and Loss ta Passive fosse NP Secto Noras Income Form 2 Stoom For Home Schedule K-1 A B D 28 Totals b Totals 30 Add columns hand of line 29a. 31 Add columns (gl. I. and of line 29 31 32 Total partnership and S corporation income or floss). Combine lines 30 and 31 32 Part II Income or Loss From Estates and Trusts 33 Employer dication B Passive Income and Loss Nonpassive Income and Loss Puction or low MP Deduction in Onconto from Sheet Schedule A B 34a Totals bTotais 35 Add columns (d) and of line 34a 36 Add columns (c) and fel of line 34 37 Total estate and trust income or poss). Combine lines 35 and 36 37 Part IV Income or Loss From Real Estate Mortgage Investment Conduits (REMICS) -Residual Holder 38 Tancome incontro estes 8 39 Combine columns (d and (only Enter the result here and include in the total on line 41 below Part V Summary 40 Netfarm rental income or foss) from Form 4835. Also, complete line below 41 Total income or floxal. Combine Ines 26, 32.31.31. ad Enter the resulter and an Schade Fom 42 Reconciliation of farming and fishing income. Enter your gross farming and fishing income reported on Form 4835. line 7: Schedule K-1 Form 1085. box 14. code: Schedule K-1 Form 1120-S). box 17. code AD and Schedule K-1 Form 1041), box 14 code F. See instructions 43 Reconciliation for real estate professionals you wantate pression se instruction enter the net income or fouyou pored anywhere on Form 1040. Form 1040-SR. or Form 1040-NR from all real estate activities which you material participated under the sections des 43 Schedule E Form10402021 1b 4c SCHEDULE SE O No 1545-001 Form 10401 Self-Employment Tax Department of the 2021 Go to www.ins-gov/ScheduleSE for instructions and the latest information Internal Series Attach to Form 1040 1040-SR or 1040-NR. Aachment SON 17 Name of with me Fom 1080, 100, 100- Social security number of person with self-employment income Part 1 Self-Employment Tax Note: If your only income subject to self-employment tax is church employee income, se instructions for how to report your income and the definition of church employee income. A If you are a minister, member of a religious order, or Christian Science practitioner and you filed Form 4361, but you had $400 or more of other net earnings from self-employment, check here and continue with Part 1 Skip lines ta and 1b if you use the farm optional method in Part II See instructions ta Netfarm profit or loss from Schedule F. line 34, and farm partnerships Schedule K-1 Form 1065 box 14, code A. 1a you received social security retirement or disability benefits, enter the amount of Conservation Reserve Program payments included on Schedule F. line 4b, or listed on Schedule K-1 Form 1065, box 20 code AH Skip line 2 if you use the nonfarm optional method in Part II See instructions. 2 Net profit or loss) from Schedule C, line 31: and Schedule K-1 Form 1065), bor 14. code A (other than farming. So instructions for other income to report or if you are a minister or member of a religious order 2 3 Combine lines 1a, 1b, and 2 3 da line 3 is more than zero, multiply line 3 by 92.35% (0.9235). Otherwise, enter amount from line 3 43 Note: It line 4a is less than $400 due to Conservation Reserve Program payments on line 16. see instructions If you elect one or both of the optional methods, enter the total of lines 15 and 17 here 4b Combine Ines 45 and 46. less than $400, stop: you don't owe self-employment tax Exception: less than $400 and you had church employee income, enter-O- and continue 5a Enter your church employee income from Form W-2 See instructions for definition of church employee income 5a Multiply ine 5a by 92.35% 0.9235). It less than $100, enter- Sb 6 Add lines 4c and 5b 7 Maximum amount of combined wages and self-employment eamings subject to social security tax or the 6.2% portion of the 7.65% rairoad retirement ter 1) tax for 2021 7 142 800 8a Total social security wages and tips total of boxes 3 and 7 on Formis) W- and railroad retirement (tier 1) compensation. $142.800 or more skip lines Bb through 10, and go to line 11 Unreported tips subject to social security tax from Form 4137, line 10 Bb Wages subject to social security tax from Form 8919, line 10 Bc dAdd lines Ba8b, and 8c 9 Subtract line 8d from line 7. f zero or less, enter-O- here and on line 10 and go to line 11 10 Multiply the smaller of line 6 or line 9 by 12.4% (0.124) 10 11 Multiply line 6 by 2.9% (0.029) 12 Self-employment tax. Add lines 10 and 11. Enter here and on Schedule 2 (Form 1040), line 4 12 13 Deduction for one-half of self-employment tax. Multiply line 12 by 50% (0.501. Enter here and on Schedule 1 Form 1040). line 15 Part II Optional Methods To Figure Net Earnings (see instructions) Farm Optional method. You may use this method only all your gross farm income wasn't more than $8.820, or (b) your netfarm profits were less than $6,367. 14 Maximum income for optional methods 5.380 15 Enter the smaller of two-thirds of gross farm income not less than zero or $5.880. Also include this amount on line 4b above 15 Nonfarm Optional Method. You may use this method only all your net nonfarm profits were less than $6,367 and also less than 72.189% of your gross nontorm income and you had net earnings from employment of at least 5400 in 2 of the prior 3 years. Caution: You may use this method no more than five times 16 Subtract line 15 from line 14 16 17 Enter the smaller of two-thirds of gross nonfarm income inot less than zero) or the amount on Ine 16. Also include this amount on line 4b above 17 * From Sch. Fire and Sch K-1 Form 1065, box 14 code. From Sch Cine 31 and Sch K-1 form 1001 box 14 code A From Sch. F. line 34 und Sch. K Form 1065 box 14 code A-minus the amount From Sch Cine 7 Sch. K-1 Form 1065. box 14 codec you would have entered on Ine 1b had you noted the optional method For Paperwork Reduction Act Notice, see your tax return instructions Cal. 19 Schede E Form 1046 2021 Ra & 11 8995 Qualified Business Income Deduction OMEN 1545-3204 Simplified Computation 2021 Attach to your tax return Go to www.in.gov/Forms for instructions and the latest Information No 55 Your taxpayer identification Department of the oma Ricevic Na shown on tam Note. You can claim the qualified business income deduction only if you have qualified business income from a qualified trade or business, real estate investment trust dividends, publicly traded partnership income, or a domestic production activities deduction passed through from an agricultural or horticultural cooperative. See Instructions Use this form if your taxable income, before your qualified business income deduction, s at or below S164,900 $164.925 i mamed filing separately: $329,800 if married filing jointly, and you aren't a patron of an agricultural or horticultural cooperative web 1 IN V 3 6 2 Total qualified business income or loss). Combine lines 11 through 1. column 2 3 Qualified business net foss carryforward from the prior year 4 Total qualified business income. Combine lines 2 and 3. zero or less entero 5 Qualified business income component. Multiply line 4 by 20% (0.20) 6 Qualified REIT dividends and publicly traded partnership PTP) income or fossi (see instructions 7 Qualified REIT dividends and qualified PTP loss carryforward trom the prior year 7 8 Total qualified REIT dividends and PTP income. Combine ines 6 and 7. I zero or less entero 9 REIT and PTP component. Multiply line 8 by 20% 0.20) Qualified business income deduction before the income limitation. Addines Sand 9 11 Taxable income before qualified business income deduction (see instructions 12 Net capital gain (see instructions) 12 13 Subtract line 12 from line 11. If zero or less, enter-O- 13 14 Income limitation. Multiply line 13 by 20% (0.20 15 Qualified business income deduction. Enter the matter of fine 10 or line 14. Also enter this amount on the applicable line of your return (see instructions) 16 Total qualified business loss) carryforward. Combine lines 2 and 3. I greater than zero, enter- 17 Total qualified REIT dividends and PTP floss carryforward. Combine lines 6 and 7. greater than zero, enter- For Privacy Act and Paperwork Reduction Act Notice, see Instructions Cate 9 10 10 14 15 16 17 Form 8995 2011 ON 55-100 rom8582 Passive Activity Loss Limitations See separate instructions Attach to Form 1040,1040-SR, or 1041. Go to www.drs.gov/Formase2 for instructions and the latest information 2021 Depart of the Try Service Name shown onun Aach Se Ne 858 tingumber A Part 1 2021 Passive Activity Loss Caution: Complete Parts and before completing Part Rental Real Estate Activities With Active Participation For the definition of active participation see Special Allowance for Rental Real Estate Activities in the instructions) 1a Activities with net income enter the amount from Part IV. column (all ta b Activities with net loss enter the amount from Part IV. column 1b Prior years' unallowed losses (enter the amount from Part I. column ich Te d. Combine lines 1a, 1b, and 1c 1d All Other Passive Activities 28 Activities with net income enter the amount from Part V. columna 2a b Activities with net loss enter the amount from Part V. column Prior years' unallowed losses enter the amount from Part V. column 2c d Combine lines 2a 2b, and 2c 2d 3 Combine lines 1d and 2d. If this line is zero or more, stop here and include this form with your retum all losses are allowed, including any prior year unallowed losses entered on line 1c or 2c. Report the losses on the forms and schedules normally used 3 line 3 is a loss and Line td is a loss, go to Partit Line 2d is a loss (and line 1d is zero or more), skip Part 1 and go to fine 10. Caution: If your filing status is married fling separately and you lived with your spouse at any time during the year. do not complete Part II. Instead, go to line 10. Part II Special Allowance for Rental Real Estate Activities With Active Participation Note: Enter all numbers in Part Il as positive amounts. See instructions for an example 4 Enter the smaller of the loss on line 1d or the loss on line 3 5 Enter $150,000. It married fling separately, see instructions 6 Enter modified adjusted gross income, but not less than zero. See instructions Note: if line 6 is greater than or equal to line 5. skip lines 7 and 8 and entero on line 9. Otherwise, go to line 7 7 Subtract line 6 from line 5 8 Multiply line 7 by 50% (0.501. Do not enter more than $25,000. It married fling separately. See instructions 8 9 Enter the smaller of line 4 or line 8 9 Part Ill Total Losses Allowed 10 Add the income, if any, on lines 1a and 2 and enter the total 10 11 Total losses allowed from all passive activities for 2021. Add lines 9 and 10. See instructions to find out how to report the losses on your tax retum 11 Part IV Complete This Part Before Part 1, Lines 1a, 1b, and 1c. See instructions Current year Prior years Overall gain or loss Name of activity (a) Net income (b) Net loss c) Unallowed Ginetal lossine 10 Gain ne 16 el Loss Total. Enter on Part I, lines 1a, 1b, and 1c For Paperwork Reduction Act Notice, se instructions. Cat Form85820 Format) Part V Complete This Part Before Part 1, Lines 2a, 2b, and 2c. See instructions Current year Prior years Name of activity (a) Net income () Net loss c) Unallowed dine 2a (line 21 loss line 2 Overall gain or los Id Gain el Loss Total. Enter on Part I, lines 2a, 2b, and 2c Part VI Use This Part if an Amount Is Shown on Part II, Line 9. See instructions Form or schedule and line number Name of activity (a) Loss b) Ratio to be reported on see instructions) c) Special allowance Subtract column) from columna Total Part VII 1.00 Allocation of Unallowed Losses. See instructions Form or schedule Name of activity and line number to be reported on see instructions (a) Loss Ratio c) hallowed loss Total Part VIII 1.00 Allowed Losses. See instructions Form or schedule and line number Name of activity to be reported on se instructions (a) Loss b) Unallowed loss Ich Allowed loss Total For 8582 le) Allowed loss Form 2021 Part IX Activities With Losses Reported on Two or More Forms or Schedules. See instructions. Name of activity: (al Idunallowed Ich Ratio loss Form or schedule and line number to be reported on (see instructions: 1a Net loss plus prior year unallowed loss from form or schedule Net income from form or schedule c Subtract line 1b from line 12. If zero or less, enter-O- Form or schedule and line number to be reported on (see instructions): ta Net loss plus prior year unallowed loss from form or schedule b Net income from form or schedule Subtract line 1b from line 1a. If zero or less, enter-O- Form or schedule and line number to be reported on (see instructions ta Net loss plus prior year unallowed loss from form or schedule Net income from form or schedule 6 Subtract line 1b from line 1a. If zoro or less, enter -6-1 Total 1.00 For 8582 001 OMB No 1545-01 2021 So Ne 179 Meninger 4562 Depreciation and Amortization (Including Information on Listed Property Demet Attach to your tax return Go to www.irepov/Forms for instructions and the latest information Name shown on tun Borty to which is om Partl Election To Expense Certain Property Under Section 179 Note: If you have any listed property.complete Part V before you complete PartL 1 Maximum amount (see instructions) 2 Total cost of section 179 property placed in service see instructions) 3 Threshold cost of section 179 property before reduction in limitation is instructions 4 Reduction in limitation. Subtract line from line 2. fzere or less, enter-O- 5 Dollar limitation for tax year. Subtract line 4 from line 1. If zero or less enter married fing separately, see Instructions 6 Duration of property dow 1 2 3 4 5 MMM 7 Listed property. Enter the amount from line 29 7 8 Total elected cost of section 179 property. Add amounts in column (cl. lines 6 and 7 & 9 Tentative deduction Enter the smaller of line 5 or line 3 9 10 Carryover of disallowed deduction from line 13 of your 2020 Form 4562 10 11 Business income limitation. Enter the smaller of business income not less than zero or line 5. See instructions 11 12 Section 179 expense deduction. Add lines 9 and 10, but don't enter more than line 11 12 13 Carryover of disallowed deduction to 2022. Add lines 9 and 10. less line 12 13 Note: Don't use Partilor Part Il below for listed property. Instead, use Part V. Part 1 Special Depreciation Allowance and Other Depreciation (Don't include listed property. See instructions) 14 Special depreciation allowance for qualified property other than listed property placed in service during the tax year. See instructions 14 15 Property subject to section 168(1) election 15 16 Other depreciation (including ACRS 16 Part III MACRS Depreciation (Don't include listed property. See instructions) Section A 17 MACRS deductions for assets placed in service in tax years beginning before 2021 18 If you are electing to group any assets placed in service during the tax year into one or more general asset accounts, check here Section B-Assets Placed in Service During 2021 Tax Year Using the General Depreciation System More and alion of property Hey Canton Mod Diction deduction 19a 3 year property b5-year property e 7-year property d 10-year property e 15-year property 1 20-year property 9.25-year property SIL h Residential rental 275 MM SA property 275 MM SIL Nonresidential real 5L property MM SAL Section C-Assets Placed in Service During 2021 Tax Year Using the Alternative Depreciation System 20a Class life SIL b 12-year 12 SA c 30-year VM SAL d 40 year AO SA Part IV Summary See instructions.) 21 Listed property. Enter amount from line 28 21 22 Total. Add amounts from line 12. lines 14 through 17. lines 19 and 20 incolumn land line 21. Enter here and on the appropriate lines of your return. Partnerships and corporations-see instructions 22 23 For assets shown above and placed in service during the current year, enter the portion of the basis attributable to section 263A costs 23 For Paperwork Reduction Act Notice, se separate instructions Cat For 456202 39 Fom 2002 Page 2 Part V Listed Property (Include automobiles, certain other vehicles, certain aircraft, and property used for entertainment, recreation, or amusement.) Note: For any vehicle for which you are using the standard mileage rate or deducting lase expense, complete only 24a. 24b. columns (a) through (c) of Section A all of Section B. and Section applicable Section A-Depreciation and Other Information (Caution: See the instructions for limits for passenger automobiles) 24a Do you have evidence to support the business/investment une claimed? Yes No 246 "Yes, she evidence written? Yes No N Type of property Duteplaced out therman storico Betection 179 vehicles Inice Como 25 Special depreciation allowance for qualified listed property placed in service during the tax year and used more than 50% in a qualified business use. See Instructions 25 26 Property used more than 50% in a qualified business use: 27 Property used 50% or less in a qualified business use: SL SL SAL 28 Add amounts in column lines 25 through 27. Enter here and on line 21. page 1 29 Add amounts in column line 26. Enter here and on line 7. page 1 29 Section B-Information on Use of Vehicles Complete this section for vehicles used by a sole proprietor, partner, or other more than 5% owner or related person. If you provided vehicles to your employees, first answer the questions in Section to see if you meet an exception to completing this section for those vehicles Yes 30 Total business/investment miles driven during W Wh Vah the year don't include commuting miles 31 Total commuting miles driven during the your 32 Total other personal noncommuting) mies driven 33 Total miles driven during the year. Add lines 30 through 32 34 Was the vehicle available for personal Yes No Yes No Yes No Yes No Yes No No use during off-duty hours? 35 Was the vehicle used primarily by a more than 5% owner or related person? 36 is another vehicle available for personal use? Section C-Questions for Employers Who Provide Vehicles for use by Their Employees Answer these questions to determine if you meet an exception to completing Section for vehicles used by employees who aren't more than 5% owners or related persons. See instructions 37 Do you maintain a written policy statement that prohibits al personal use of vehicles, including commuting, by Yes No your employees? 38 Do you maintain a written policy statement that prohibits personal use of vehicles, except commuting, by your employees? See the instructions for vehicles used by corporate officers, directors, or 1% or more owners 39 Do you treat al use of vehicles by employees as personal use? 40 Do you provide more than five vehicles to your employees, obtain information from your employees about the use of the vehicles, and retain the information received? 41 Do you meet the requirements concerning qualified automobile demonstration use? See instructions Note: If your answer to 37, 38, 39, 40, or 41 is 'Yes," don't complete Section for the covered vehicles Part VI Amortization M Date Description of com Code prodor A for 42 Amortization of costs that begins during your 2021 tax year (see instructions 43 Amortization of costs that began before your 2021 tax year 44 Total. Add amounts incolumit See the instructions for where to report 43 44 Form 4562002 Individual Tax Return Required: Use the following information to complete Paige Tumer's 2020 federal income tax retum. If any information is missing, use reasonable assumptions to fill in the gaps. Facts: 1. Paige Turner is single and has two children from her previous marriage. Ali lives with Paige, and Paige provides more than half of her support. Leif lives with his father, Will (Leif lived with Will for all of 2020). Will provides more than half of Leifs support Paige provides you with the following additional information: She uses the cash method of accounting and a calendar year for reporting. She wishes to contribute to the presidential election campaign. Paige lives at 523 Essex Street, Bangor, Maine 04401. o Paige's birthday is May 31, 1982. Ali's birthday is October 5, 2011 Leif's birthday is