Could you please help me with problem C? Thank you so much

c. Enter the results of this transaction for Kara on Form 1040, Schedule D (p. 1) for the tax year 2019. Assume that relevant facts from the transaction initially had been shown on Form 8949 with Box F checked.

• If required, use the minus to indicate a loss.
• If an amount is zero, enter "0"

Problem 4-47 (LO. 6) Sam Upchurch, a single taxpayer, acquired stock in Hummer Corporation that qualified as a small business corporation under 1244, at a cost of $100,000, three years ago. He sells the stock for $10,000 in the current tax year. a. How will the loss be treated for tax purposes? Sam would have a capital loss of $ 40,000 and an ordinary of loss of $ 50,000 for tax purposes. Feedback b. Assume instead that Sam sold the stock to his sister, Kara Upchurch, a few months after it was acquired for $100,000 (its fair market value). If Kara sells the Hummer stock for $60,000 in the current year, how should she treat the loss for tax purposes? She will treat the loss as a capital loss of $ 40,000 for tax purposes. Feedback c. Enter the results of this transaction for Kara on Form 1040, Schedule D (p. 1) for the tax year 2019. Assume that relevant facts from the transaction initially had been shown on Form 8949 with Box F checked. If required, use the minus to indicate a loss. If an amount is zero, enter "0". Part II 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 (h) Gain or (loss) (9) the lines below. Subtract column Adjustments to gain (e) (e) from column (d) Proceeds or loss from Form(s) This form may be easier to complete if you round off cents Cost (or (d) and combine 8949, Part II, line 2, to whole dollars. (sales price) other basis) the result with column (9) column (9) 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 40,000 x 50,000 X 40,000 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 11 12 Net long-term gain or loss) from partnerships, S corporations, estates, and trusts from Schedule(s) 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 8a through 14 in column (h). Then go to Part III on the back ... 15 40,000 x For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 11338H Schedule D (Form 1040 or 1040-SR) 2019