please use 1040 and put it in that format or use the numbers and state which is left blank and what is in each number

1:7-62 Dan M. and Cheryl A. Peters are married, file a joint return, and have no children. Dan, age 45, is an independent contractor working in pharmaceutical sales and Cheryl, age 42, is a nurse at a local hospital. Dan's SSN is 400-20-0000 and Cheryl's SSN is 200-40-0000 and they reside at 2033 Palmetto Drive, Atlanta, GA 30304. Dan is paid according to commissions from sales, and he has no income tax or payroll tax withholdings. Dan operates his business from his home office. During 2020, Dan carned total commissions in his business of $125,000. Cheryl carned a salary during 2020 of $45,400, with the following withholdings: $6,000 federal taxes, $1,800 state taxes, $2.815 OASDI (Social Security), and S658 Medicare taxes. During 2020, Dan and Cheryl had interest income from corporate bonds and bank ac- counts of $1.450 and qualified dividends from stocks of $5,950. Dan also actively trades stocks and had the following results for 2020: Date Acquired Date Sold Proceeds Cost Gain or Loss Stocks 7/1/2015 12/1/2020 $10,900 $6,000 $4,900 Long-term Stocks 7/1/2018 12/1/2020 $6,000 $9,200 ($3,200) Long-term Stocks 7/1/2020 10/30/2020 $4,000 $11,800 ($7,800) Short-term He had no capital loss carryovers from previous years. Basis for the stocks were re- ported to the IRS by the brokerage firm. Dan does a considerable amount of travel in connection with his business and uses his own car. During 2020, Dan drove his car a total of 38,000 miles, of which 32,000 were business related. He also had business-related parking fees and tolls during the year of $280. Dan uses the mileage method for deducting auto expenses. Dan also had the follow- ing travel expenses while away from home during the year: Hotel $4,200 Meals 820 Entertainment of customers 1,080 Tips 100 Laundry and cleaning 150 Total $6,350 Dan uses the simplified method to deduct expenses for his office-in-home. His office measures 15 feet by 12 feet in size. Cheryl incurred several expenses in connection with her nursing job. She paid $450 in professional dues, $200 in professional journals, and $350 for uniforms. Dan and Cheryl had the following other expenditures during the year: Health insurance premiums (after-tax) $ 4,400 Doctor bills 470 Real estate taxes on home Personal property taxes 1,400 Mortgage interest-all deductible 7,400 Charitable contributions-cash 9,000 Charitable contributions - Apple stock owned for 5 years FMV $8,000 Adjusted basis 2,000 Tax preparation fees ($250 allocated to Dan's business) 750 Paid by Dan in connection with his business 6,800 Business Expenses and Deferred Compensat During 2020, Dan and Cheryl paid federal and state estimated tax payments on a quarterly basis. Federal payments for the year amounted to $20,000. State estimated pay- ments for the year amounted to $2,200. Compute Dan and Cheryl's income tax liability for 2020. Disregard the alternative minimum tax but include the self-employment tax. 1040 Department of the Trwyl Revenue Service 199) U.S. Individual Income Tax Return 2020 OMB No 1545-0074 IRS Use Only-Dont where is Filing Status Single Married filing jointly Married filing separately (MFS) Head of household (HOH) Qualitying widower) (ow Check only If you checked the MFS box, enter the name of your spouse. If you checked the HOH OW box, enter the child's name if the qualitying one box person is a child but not your dependent Your first name and middle initial Last name Your social security number Dan M. Peters 2 o o o o o joint return, spouse's first name and middle initial Last name Spouse's social security number Cheryl A. Peters 2 0 0 14 0 0 0 0 0 Home address number and street). W you have a P.O. box, se instructions Apt no Presidential Election Campaign 2033 Palmetto Drive Check here if you, or you City, town, or post office. If you have a foreign address, also complete spaces below. State ZIP code spousefiling jointly, want $3 Atlanta, 30304 to go to this fund. Checking a box below will not change Foreign country name Foreign province/state/county Foreign postal code your tax or refund You Spouse At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency Yes No Standard Someone can claim: You as a dependent Your spouse as a dependent Deduction Spouse itemizes on a separate return or you were a dual-status alien a Age/Blindness You: Were born before January 2, 1956 Are bind Spouse: Was bom before January 2, 1956 is bilind Dependents (see instructions): (2) Social security (3) Relationship 19 qualified for see instruction (1) First name Last name number If more to you Child tax credit Credit for other dependents than four dependents, see instructions and check here 1 Wages, salarios, tips, etc. Attach Form(s) W-2 1 45400 Attach 2a Tax-exempt interest 2a b Taxable interest 1450 Sch. Bit 3a Qualified dividends 3a 5950 5950 3b b Ordinary dividends required 4a IRA distributions 4a 0 b Taxable amount 4b 5a Pensions and annuities 5a 0 b Taxable amount 5b 0 0 Standard 6a Social security benefits b Taxable amount 6b Deduction for 7 Capital gain or loss). Attach Schedule Dif required. If not required, check here 7 - Single or Married fing 8 Other income from Schedule 1, line 9 8 separately 9 $12.400 9 Add lines 1, 2, 3, 4, 5, 6, 7, and 8. This is your total income Married fing 10 Adjustments to income: jointly or Qualifying 10a - From Schedule 1. line 22 widow 524 800 100 b Charitable contributions if you take the standard deduction. See Instructions - Head of Add lines 10 and 10b. These are your total adjustments to income 10e household 11 $16.650 Subtract line 100 from line 9. This is your adjusted gross income If you checked 12 Standard deduction or itemized deductions from Schedule A) 12 any box under Standard 13 Qualified business income deduction. Attach Form 8995 or Form 8995-A 13 Deduction 14 14 Add lines 12 and 13 se instructions 15 Taxable income. Subtract Ine 14 from line 11. If zero or less, enter-O- 15 For Dieclosure, Privacy Act, and Paperwork Reduction Act Notice, se separate instructions C1320 For 1040 Feel 23 1988 BN Form 1040 2020 Page 2 16 Tax (see Instructions. Check if any from Forms): 1 8814 497230 16 17 Amount from Schedule 2, line 3 17 18 Add lines 16 and 17 18 19 Child tax credit or credit for other dependents 19 20 Amount from Schedule 3, line 7 20 21 Add lines 19 and 20 21 22 Subtract line 21 from line 18. If zero or less, enter-O- 22 23 Other taxes, including self-employment tax, from Schedule 2 line 10 23 24 Add lines 22 and 23. This is your total tax 24 25 Federal income tax withheld from: a Formis) W-2 25a b Form(s) 1099 250 c Other forms (see instructions) 25c d Add lines 25a through 250 250 26 If you have a 2020 estimated tax payments and amount applied from 2019 return 26 Qualifying child, 27 Earned Income credit (EIC) 27 attach Sch. EIC - If you have 28 Additional child tax credit. Attach Schedule 8812 nontaxable 29 combat pay. American opportunity credit from Form 8863, line 8 29 See instructions. 30 Recovery rebate credit. See instructions 30 31 Amount from Schedule 3, line 13 31 32 Add lines 27 through 31. These are your total other payments and refundable credits 32 33 Add lines 25d, 26, and 32. These are your total payments 33 Refund 34 If line 33 is more than line 24, subtract line 24 from line 33. This is the amount you overpaid 34 35a Amount of line 34 you want refunded to you. If Form 8888 is attached, check here 35a Direct deposit b Routing number Type Checking Savings See instructions d Account number 36 Amount of line 34 you want applied to your 2021 estimated tax 38 Amount 37 Subtract line 33 from line 24. This is the amount you owe now 37 You Owe Note: Schedule H and Schedule SE flers, line 37 may not represent all of the taxes you owe for For details on how to pay, see 2020. See Schedule 3, line 12e, and its instructions for details Instructions 38 Estimated tax penalty (see instructions) 38 Third Party Do you want to allow another person to discuss this return with the IRS? See Designer instructions Yes. Complete below. No Designoo's Phone Personal dentification name number me Sign Under penalties of perjury, I declare that I have examined this retum and accompanying schedules and statements, and to the best of my knowledge and Here bobet, they are true, correct, and complete. Declaration of preparer other than tepayer is based on all information of which preparar has any knowledge Your signature Date Your cupation If the IRS ant you an identity Protection Planter the Joint return? seein See Instructions Spouse's signature. I joint rotum, both must in Date Spouse's coupon i Syour spouse Keep a copy for Identity Protection Parteritare your records ent Phone no Email address Preparer's name Preparer's signature Date PIIN Check Paid Semployed Preparer Firm's name Use Only Fim's dides EN Go to www.in. powForm1040 for instructions and the latest formation For 1040