Data Facts for Tax Return Project - 2019 Tax Year Taxpayer: Spouse: Bob Smith DOB: 10/25/1963 Jennifer Smith DOB: 03/19/1965 SSN: 555-55-5555 SSN: 666-66-6666 Bob works full-time for a manufacturing company. His W2 is attached. Jennifer has a small business that she runs from her home office. This is the first year she has had activity in the business and she started on January 1, 2019. Her income and expenses are below. Bob and Jennifer have invested in the stock market and have interest and dividend income. Their 1099s are attached. They also have capital gains from sales of stock, included on the 1099-B. Together, the Smiths have contributed $2,500 to their church, the mortgage interest on their principal residence is $8,900 and they have medical expenses of $4,500. Prepare their form 1040, based on this information, making sure to minimize their tax liability, while adhering to tax laws. Jennifer's Home Decorating, LLC -- a single member LLC - FEIN: 77-7777777 Gross Receipts: $250,000 Expenses: Office Furniture Advertising Website Business Mileage Subcontractor $10,000 $ 4,000 $ 1,000 10,000 miles (standard mileage rate for 2019 is.58 cents/mile) $40,000 Home Office Expenses: (the dedicated office space is 150 sq ft/the house is a total of 1,500 sq ft) Utilities for the year $ 5,000 Cleaning Services $ 9,000 (the service cleans the whole house) Insurance for the house $ 1,000 Mortgage Interest $ 8,900 Real Estate Taxes for home $ 4,000 a Employee's social security number Safe, accurate, Visit the IRS website at FAST! Use 555-55-5555 OMB NO. 1545-0008 inse - file www.irs.govlefile b Employer identification number (EIN) 1 Wages, tips, other compensation 2 Federal income tax withheld 99-9999999 125,000.00 25,000.00 c Employer's name, address, and ZIP code 3 Social security wages 4 Social Security tax withheld 125,000.00 7,750.00 5 Medicare wages and tips 6 Medicare tax withheld 123 Main Street 125,000.00 1812.50 7 Social security tips 8 Allocated tips Acme Manufacturing, Inc. Atlanta, GA 30303 d Control number 9 10 Dependent care benefits e Employee's first name and initial Last name Suff. 11 Nonqualified plans 12a See instructions for box 12 13 Story employee Hetirement plan Third-party 12b Bob Smith 456 Meadow Street Lilburn, GA 30047 14 Other 12c 12d f Employee's address and ZIP code 15 State Employer's state ID number RA I221591- XO 18 Local wages, tips, etc. 19 Local income tax 20 Locality name 16 State wages, tips, etc. 17 State income tax 125,000.00 62.250.00 W-2 Wage and Tax Department of the Treasury-Internal Revenue Service Form 2019 Statement Copy B-To Be Filed With Employee's FEDERAL Tax Return. ABC Investment Company 555 Wall Street New York, NY 10004 PAYER'S name, street address, city or town, state or province, country, ZIP Payer's RTN (optional) OMB No. 1545-0112 or foreign postal code, and telephone no. 2019 Interest 1 Interest income Income s 3.000.00 Form 1099-INT 2 Early withdrawal penalty Copy B PAYER'S TIN RECIPIENT'S TIN is For Recipient 3 Interest on U.S. Savings Bonds and Treas, obligations 88-8888888 555-55-5555 RECIPIENT'S name 4 Federal income tax withheld 5 Investment expenses This is important tax $ $ information and is Bob & Jennifer Smith being furnished to the 6 Foreign tax paid 7 Foreign country or U.S. possession IRS. If you are Street address including apt. no.) $ required to file a 8 Tax-exempt interest 9 Specified private activity bond return, a negligence 456 Meadow Street interest penalty or other sanction may be City or town, state or province, country, and ZIP or foreign postal code $ $ imposed on you if 10 Market discount 11 Bond premium this income is Lilburn, GA 30047 taxable and the IRS determines that it has FATCA filing $ $ not been reported. requirement 12 Bond premium on Tressury obligations 13 Bond premium on tax-exempt bond $ $ Account number (see instructions) 14 Tax-exempt and tax credit 15 State 16 State identification no. 17 State tax withheld bond CUSIP no. ws Form 1099-INT (keep for your records) www.irs.gov/Form 1099INT Department of the Treasury - Internal Revenue Service OMB No. 1545-0110 ABC Investment Company 2019 ORRECTED (if checked) PAYER'S name, street address, city or town, state or province, country, ZIP 1a Total ordinary dividends or foreign postal code, and telephone no. $ 300.00 1b Qualified dividends 555 Wall Street $ 300.00 2a Total capital gain distr. $ PAYER'S TIN RECIPIENT'S TIN 2c Section 1202 gain Dividends and Distributions New York, NY 10004 Form 1099-DIV 2b Unrecap. Soc. 1250 gain $ 2d Collectibles (28%) gain Copy B For Recipient 88.8888888 555-55-5555 $ RECIPIENT'S name 3 Nondividend distributions 4 Federal income tax withheld $ $ Bob Jennifer Smith 5 Section 199A dividends 6 Investment expenses Street address (including apt. no.) $ $ 7 Foreign tax paid 8 Foreign country or U.S. possession | 45 6 Meadow Street City or town, state or province, country, and ZIP or foreign postal code $ 9 Cash liquidation distributions 10 Noncash liquidation distributions Lilburn, GA 30047 $ $ FATCA filing 11 Exempt-interest dividends 12 Specified private activity requirement bond interest dividends $ Account number (see instructions) 13 State 14 State identification no. 15 State tax withheld $ This is important tax information and is being furnished to the IRS. If you are required to file a retum, a negligence penalty or other sanction may be imposed on you if this income is taxable and the IRS determines that it has not been reported. Form 1099-DIV (keep for your records) www.irs.gov/Form1099DIV Department of the Treasury - Internal Revenue Service CORRECTED (if checked) PAYER'S name, street address, city or town, state or province, country, ZIP Applicable checkbox on Form 8949 OMB No. 1545-0715 Proceeds From or foreign postal code, and telephone no. Broker and ABC Investment Company 2019 Barter Exchange Form 1099-B Transactions 555 Wall Street 1a Description of property (Example: 100 sh. XYZ Co.) 100 Shs TBM New York, NY 10004 1b Date acquired 1c Date sold or disposed 190.09 - 2015 9-30-2019 PAYER'S TIN RECIPIENT'S TIN 1d Proceeds 1e Cost or other basis Copy B $ 20,000.00 $ 5,000.00 For Recipient 88.8888888 555-55-5555 Accrued market discount 1g Wash sale loss disallowed $ $ RECIPIENT'S name 2 Short-term gain or loss 3 I checked, proceeds from: Long-term gain or loss V Collectibles Bob Jennifer Smith Ordinary QOF This is important tax Street address (including apt. no.) 4 Federal income tax withheld 5 If checked, noncovered information and is $ security being furnished to 456 Meadow Street 6 Reported to IRS: 7 If checked, loss is not allowed the IRS. If you are based on amount in 1d required to file a City or town, state or province, country, and ZIP or foreign postal code Gross proceeds return, a negligence Net proceeds Lilburn, GA 30047 penalty or other 8 Profit or loss) realized in 9 Unrealized profit or loss) on sanction may be 2019 on closed contracts Account number (see instructions) open contracts -- 12/31/2018 imposed on you if this income is $ $ taxable and the IRS CUSIP number FATCA filing 10 Unrealized profit or loss) on 11 Aggregate profit or (loss) determines that it requirement open contracts-12/31/2019 on contracts has not been 14 State name 15 State identification no. 16 State tax withheld $ $ reported. $ 12 If checked, basis reported 13 Bartering to IRS $ Form 1099-B (Keep for your records) www.irs.gov/Form10998 Department of the Treasury - Internal Revenue Service Data Facts for Tax Return Project - 2019 Tax Year Taxpayer: Spouse: Bob Smith DOB: 10/25/1963 Jennifer Smith DOB: 03/19/1965 SSN: 555-55-5555 SSN: 666-66-6666 Bob works full-time for a manufacturing company. His W2 is attached. Jennifer has a small business that she runs from her home office. This is the first year she has had activity in the business and she started on January 1, 2019. Her income and expenses are below. Bob and Jennifer have invested in the stock market and have interest and dividend income. Their 1099s are attached. They also have capital gains from sales of stock, included on the 1099-B. Together, the Smiths have contributed $2,500 to their church, the mortgage interest on their principal residence is $8,900 and they have medical expenses of $4,500. Prepare their form 1040, based on this information, making sure to minimize their tax liability, while adhering to tax laws. Jennifer's Home Decorating, LLC -- a single member LLC - FEIN: 77-7777777 Gross Receipts: $250,000 Expenses: Office Furniture Advertising Website Business Mileage Subcontractor $10,000 $ 4,000 $ 1,000 10,000 miles (standard mileage rate for 2019 is.58 cents/mile) $40,000 Home Office Expenses: (the dedicated office space is 150 sq ft/the house is a total of 1,500 sq ft) Utilities for the year $ 5,000 Cleaning Services $ 9,000 (the service cleans the whole house) Insurance for the house $ 1,000 Mortgage Interest $ 8,900 Real Estate Taxes for home $ 4,000 a Employee's social security number Safe, accurate, Visit the IRS website at FAST! Use 555-55-5555 OMB NO. 1545-0008 inse - file www.irs.govlefile b Employer identification number (EIN) 1 Wages, tips, other compensation 2 Federal income tax withheld 99-9999999 125,000.00 25,000.00 c Employer's name, address, and ZIP code 3 Social security wages 4 Social Security tax withheld 125,000.00 7,750.00 5 Medicare wages and tips 6 Medicare tax withheld 123 Main Street 125,000.00 1812.50 7 Social security tips 8 Allocated tips Acme Manufacturing, Inc. Atlanta, GA 30303 d Control number 9 10 Dependent care benefits e Employee's first name and initial Last name Suff. 11 Nonqualified plans 12a See instructions for box 12 13 Story employee Hetirement plan Third-party 12b Bob Smith 456 Meadow Street Lilburn, GA 30047 14 Other 12c 12d f Employee's address and ZIP code 15 State Employer's state ID number RA I221591- XO 18 Local wages, tips, etc. 19 Local income tax 20 Locality name 16 State wages, tips, etc. 17 State income tax 125,000.00 62.250.00 W-2 Wage and Tax Department of the Treasury-Internal Revenue Service Form 2019 Statement Copy B-To Be Filed With Employee's FEDERAL Tax Return. ABC Investment Company 555 Wall Street New York, NY 10004 PAYER'S name, street address, city or town, state or province, country, ZIP Payer's RTN (optional) OMB No. 1545-0112 or foreign postal code, and telephone no. 2019 Interest 1 Interest income Income s 3.000.00 Form 1099-INT 2 Early withdrawal penalty Copy B PAYER'S TIN RECIPIENT'S TIN is For Recipient 3 Interest on U.S. Savings Bonds and Treas, obligations 88-8888888 555-55-5555 RECIPIENT'S name 4 Federal income tax withheld 5 Investment expenses This is important tax $ $ information and is Bob & Jennifer Smith being furnished to the 6 Foreign tax paid 7 Foreign country or U.S. possession IRS. If you are Street address including apt. no.) $ required to file a 8 Tax-exempt interest 9 Specified private activity bond return, a negligence 456 Meadow Street interest penalty or other sanction may be City or town, state or province, country, and ZIP or foreign postal code $ $ imposed on you if 10 Market discount 11 Bond premium this income is Lilburn, GA 30047 taxable and the IRS determines that it has FATCA filing $ $ not been reported. requirement 12 Bond premium on Tressury obligations 13 Bond premium on tax-exempt bond $ $ Account number (see instructions) 14 Tax-exempt and tax credit 15 State 16 State identification no. 17 State tax withheld bond CUSIP no. ws Form 1099-INT (keep for your records) www.irs.gov/Form 1099INT Department of the Treasury - Internal Revenue Service OMB No. 1545-0110 ABC Investment Company 2019 ORRECTED (if checked) PAYER'S name, street address, city or town, state or province, country, ZIP 1a Total ordinary dividends or foreign postal code, and telephone no. $ 300.00 1b Qualified dividends 555 Wall Street $ 300.00 2a Total capital gain distr. $ PAYER'S TIN RECIPIENT'S TIN 2c Section 1202 gain Dividends and Distributions New York, NY 10004 Form 1099-DIV 2b Unrecap. Soc. 1250 gain $ 2d Collectibles (28%) gain Copy B For Recipient 88.8888888 555-55-5555 $ RECIPIENT'S name 3 Nondividend distributions 4 Federal income tax withheld $ $ Bob Jennifer Smith 5 Section 199A dividends 6 Investment expenses Street address (including apt. no.) $ $ 7 Foreign tax paid 8 Foreign country or U.S. possession | 45 6 Meadow Street City or town, state or province, country, and ZIP or foreign postal code $ 9 Cash liquidation distributions 10 Noncash liquidation distributions Lilburn, GA 30047 $ $ FATCA filing 11 Exempt-interest dividends 12 Specified private activity requirement bond interest dividends $ Account number (see instructions) 13 State 14 State identification no. 15 State tax withheld $ This is important tax information and is being furnished to the IRS. If you are required to file a retum, a negligence penalty or other sanction may be imposed on you if this income is taxable and the IRS determines that it has not been reported. Form 1099-DIV (keep for your records) www.irs.gov/Form1099DIV Department of the Treasury - Internal Revenue Service CORRECTED (if checked) PAYER'S name, street address, city or town, state or province, country, ZIP Applicable checkbox on Form 8949 OMB No. 1545-0715 Proceeds From or foreign postal code, and telephone no. Broker and ABC Investment Company 2019 Barter Exchange Form 1099-B Transactions 555 Wall Street 1a Description of property (Example: 100 sh. XYZ Co.) 100 Shs TBM New York, NY 10004 1b Date acquired 1c Date sold or disposed 190.09 - 2015 9-30-2019 PAYER'S TIN RECIPIENT'S TIN 1d Proceeds 1e Cost or other basis Copy B $ 20,000.00 $ 5,000.00 For Recipient 88.8888888 555-55-5555 Accrued market discount 1g Wash sale loss disallowed $ $ RECIPIENT'S name 2 Short-term gain or loss 3 I checked, proceeds from: Long-term gain or loss V Collectibles Bob Jennifer Smith Ordinary QOF This is important tax Street address (including apt. no.) 4 Federal income tax withheld 5 If checked, noncovered information and is $ security being furnished to 456 Meadow Street 6 Reported to IRS: 7 If checked, loss is not allowed the IRS. If you are based on amount in 1d required to file a City or town, state or province, country, and ZIP or foreign postal code Gross proceeds return, a negligence Net proceeds Lilburn, GA 30047 penalty or other 8 Profit or loss) realized in 9 Unrealized profit or loss) on sanction may be 2019 on closed contracts Account number (see instructions) open contracts -- 12/31/2018 imposed on you if this income is $ $ taxable and the IRS CUSIP number FATCA filing 10 Unrealized profit or loss) on 11 Aggregate profit or (loss) determines that it requirement open contracts-12/31/2019 on contracts has not been 14 State name 15 State identification no. 16 State tax withheld $ $ reported. $ 12 If checked, basis reported 13 Bartering to IRS $ Form 1099-B (Keep for your records) www.irs.gov/Form10998 Department of the Treasury - Internal Revenue Service