plz help have problems posted and forms i need help with. 4 forms in total thank you so much

Tax Return Problem 1-Form 1040 Kathy Rogers, an executive manager, resides at 590 Oak Street, Newton, NC 28658. She is single and has no dependents. Her social security number is 486-45-6175. She received $145,780 in wages and had 14,800 of federal income tax withheld during 2020. Kathy received interest income of $3.905 from corporate bonds. Kathy made a $950 cash contribution to a qualifying charity. Complete Kathy's form 1000 Tax Return Problem 12-Schedule SE Howard McDaniel is self-employed and had net earnings from his sole proprietorship of $84.000 in 2020. Howard also had a second job and received wages subject to FICA tax of $68,000. His social security number is 315-79-2468. Complete Howard's Schedule SE. Tax Return Problem 13 - Schedule A James and Nancy Richards enjoyed an adjusted gross income (AGI) of 577,700 for 2020. James' social security number is 123-54-9876. Nancy's social security number is 710-23-8235. They had the following expenses in 2020 MEDICAL EXPENSES: $3,000 Health insurance $2,250 Prescription drugs $ 160 Over-the-counter medicine $ 210 Co pay for doctor's exam $1,750 Dentist $ 800 Chiropractor $ 340 Insurance reimbursement check 100 miles in travel for doctor and dentist appointments TAXES $ 110 State tax refund received in 2020 $1,815 State income tax withholding in 2020 $ 9,960 Property taxes $ 175 Vehicle property tax $4,875 Sales taxes paid in 2020 INTEREST $ 9,303 Home mortgage interest expense paid in 2020 $916 Interest on car loan $ 1,540 Interest expense paid in 2020 on Credit Cards CONTRIBUTIONS A $ 6,300 contributed to the First Bible Church $ 150 contributed to the Red Cross $ 2,000 in housewares and clothing donated to charity $ 20 given to someone asking for money for gas for their car Complete the Schedule A for James and Nancy Tax Return Problem #4 - Schedule D Todd Kennedy (Social Security Number 444-45-4875) had taxable income of $31,130 Todd sold 200 shares of Gateway Industries stock on October 15, 2020, for $2,500. He acquired the stock for $4,200 on July 1, 2017 Todd sold 100 shares of Decker Corporation stock on November 7, 2020, for $5,000. He purchased the stock on May 30, 2020, for $2,800. Todd had a long-term capital loss carryforward from 2019 of 54,300 The Form 1099-8 that Todd received from his broker indicated he had total stock sales in 2020 $7,500 Complete the Schedule D for Todd. 11040 Department of the Treasury-Internal Revenue Barn 099 U.S. Individual Income Tax Return 2020 OMB No 1545-0074 RS Use Only-Do not water staple in this space Filing Status Singia Married filing jointly Married filing separately (MFS) Head of household (HOH Qualifying widow(oc) () Check only If you checked the MFS box, enter the name of your spouse. If you checked the HOH or QW box, enter the child's name if the qualifying one box person is a child but not your dependent Your first name and middle initial Last name Your social security number Kathy Rogers 4 8 4 4 $ 6 175 I joint ratum, spouse's first name and middle initial Last name Spouse's social security number a Last name Home address (number and street). If you have a P O bax, see instructions Apt.no Presidential Election Campaign 590 Oak Street Check here if you, or your City, town, or post office. If you have a foreign address, to complete pacen below. State ZIP code spouse if filing jointly, want $3 to go to this fund. Checking a Newton, NC 28658 box below will not change Foreign country name Foreign province/stata/courty Foreign postal code your tax or refund. You Spouse At any time during 2020, did you receive, sell, sand, 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 retum or you were a dual-status alien Ago/Blindness You Were bom before January 2, 1958 Are blind Spouse: Was bom before January 2, 1956 Is blind Dependents (sne Instructions): (2) Social security Relationship (4) qualified for see instructional If more (1) First name number to you Child to credit Credit for other dependents than four dependents, 1 se instructions and check here Wages, salarios, tips, etc. Attach Form(s) W-2 145,780 Attach 2a Tax-exempt interest 2a b Taxable interest 2b 3,905 Sch. B 3a Qualified dividends 3a b Ordinary dividends 3b required 4a IRA distributions 4a b Taxable amount 4b 5a Pensions and annuities 5a b Taxable amount 5b Standard 6 Social security benefits 6a bTaxable amount Deduction for 7 Capital gain or loss). Attach Schedule Drequired. If not required, check here 7 Singer Married in 8 Other Income from Schedule 1, line 9 parately $12.400 9 Add lines 1, 2, 3, 4, 5, 6, 7 and 8. This is your total income 9 149,685 - Manlieding 10 Adjustments to income: jointy or Dullying a From Schedule 1, tino 22 10a Widower b Charitable contributions it you take the standard deduction. See instructions 524.000 100 Head of Add lines 10a and 10b. These are your total adjustments to income 100 household 11 Subtract line 10c from line 9. This is your adjusted gross income $11.050 11 checked 12 Standard deduction or itemized deductions from Schedule A) 12 12.400 box under 13 Qualified business income deduction. Attach Form 8995 or Form 8995-A 13 Deduction 14 Add lines 12 and 13. 14 12.400 sonsuction 15 Taxable income. Subtract line 14 from line 11. 1200 or less enter 0 15 137205 For Disclosure, Privacy Act, and Paperwork Reduction Act Notice seo separate instructions Cat N113300 um 1040 1 1 18 6b 8 . Standard Pas 2 gg Form 1040 (2020) 16 Tax (san instructions). Check if any from Form(s): 1 8814 2 4972 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. zero or less, enter -- 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 Form(s) W-2 25a Form(s) 1099 25b Other forms (sen Instructions) 250 d Add lines 25a through 250 25d 26 2020 estimated tax payments and amount applied from 2019 retum 28 If you have qualifying child, 27 Earned Income credit (EIC) 27 attach Sch. EXC If you have 28 Additional child tax credit. Attach Schedule 8812 28 Nontable 29 combat pay 29 American opportunity credit from Form 8863, line 8 structions. 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 34 Refund 34 W line 33 is more than line 24, subtract line 24 from line 33. This is the amount you overpaid 350 Amount of line 34 you want refunded to you. If Form 8888 is attached, check here 350 Direct deposit Routing number Type Checking Savings See instructions d Account number 36 Amount of line 3d you want bloplied to your 2021 estimated tax 36 Amount 37 Subtract line 33 from in 24. This is the amount you owe now 37 You Owe Note: Schedule Hand Schedule SE files, line 37 may not represent all of the taxes you own for For details on 2020. See Schedule 3, fine 120, and its instructions for details how to pay Instructions 38 Estimated tax penalty (se instructions) 38 Third Party Do you want to allow another person to discuss the return with the RS? See Designee Instructions Yes. Complete below. No Designe's Phone Personal Identification no number 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 beller, they are recorrect, and complete. Declaration of prepare other than taxpayer) in based on all information of which preparer has any knowledge Here Your signature Date Your occupation If the IRS sent you an identity Protection PIN anter it here Joint retum (see inst) So instruction Spouse's signature. If a joint retum both must sign Spouse's occupation if the IRS sent your spouse an Keep a copy for Identity Protection PIN enter it here your records sent) Phone no Email address Preparer's name Preparee's signature PTIN Check it Paid Self-employed Preparer Firm's name Use Only Date Da Phone no OMB No 1545-0074 1a 3 4a CHEDULE SE orm 1040) Self-Employment Tax partment of the Treasury Go to www.irs.gov/ScheduleSE for instructions and the latest Information 2020 amal Revenue Service 1991 Attach to Form 1040, 1040-SR, or 1040-NR. Attachment Sequence No. 17 me of person with self-employment income (as shown on Form 1040, 1040-SR, or 1080-NR) Social security number of person with self-employment income Part I Self-Employment Tax Hote: If your only income subject to self-employment tax is church employee income, see instructions for how to report your income ind the definition of church employee income. 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! Skip lines 12 and 1b if you use the farm optional method in Part II. See Instructions. 1a Net farm profit or loss) from Schedule F, line 34, and farm partnerships, Schedule K-1 (Form 1065). box 14, code A b If 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 1b 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), box 14, code A (other than farming). See 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 4a If line 3 is more than zero, multiply line 3 by 92.35% (0.9235). Otherwise, enter amount from line 3 Note: If line 4a is less than $400 due to Conservation Reserve Program payments on line 1b, see instructions. b If you elect one or both of the optional methods, enter the total of lines 15 and 17 here c Combine lines 4a and 4b. If less than $400, stop: you don't owe self-employment tax. Exception: If less than $400 and you had church employee income, enter -- and continue 5a Enter your church employee income from Form W-2. See instructions for definition of church employee income b Multiply line 5a by 92.35% (0.9235). If less than $100, enter -- 6 Add lines 4c and 5b 7 Maximum amount of combined wages and self-employment earnings subject to social security tax or the 6.2% portion of the 7.65% railroad retirement (tier 1) tax for 2020 137.700 8a Total social security wages and tips (total of boxes 3 and 7 on Form(s) W-2) and railroad retirement (tier 1) compensation. If $137.700 or more, skip lines 8b through 10, and go to line 11 b Unreported tips subject to social security tax from Form 4137, line 10 c Wages subject to social security tax from Form 8919, line 10 8c d Add lines 8a, 8b, and 8c Subtract line 8d from line 7. If zero or less, enter -O- here and on line 10 and go to line 11 Multiply the smaller of line 6 or line 9 by 12.4% (0.124) 10 Multiply line 6 by 2.9% (0.029) Self-employment tax. Add lines 10 and 11. Enter here and on Schedule 2 (Form 1040), line 4 Deduction for one-half of self-employment tax. Multiply line 12 by 50% (0.50). Enter here and on Schedule 1 (Form 1040). Part II Optional Methods To Figure Net Earnings (see instructions) Farm Optional Method. You may use this method only if (a) your gross farm income wasn't more than S8.460.hotfmnts were to than 107 4b 4c 5a 5b 6 7 8 8b . 8d 9 9 10 11 12 13 11 12 line 14 13 12 12 Seremployment LAX Hold lines and Entertore and on schedulo (FOTO) 13 Deduction for one-half of self-employment tax. Multiply line 12 by 50% (0.50). Enter here and on Schedule 1 (Form 1040), line 14. 13 Part II Optional Methods To Figure Net Earnings (see instructions) Farm Optional Method. You may use this method only if (a) your gross farm income wasn't more than $8,460, or (b) your net farm profits were less than $6,107 14 Maximum Income for optional methods 14 5,640 15 Enter the smaller of two-thirds (1/a) of gross farm income (not less than zero) or $6,640. Also, include this amount on line 4b above 15 Nonfarm Optional Method. You may use this method only if (a) your net nonfarm profits were less than $6,107 and also less than 72.189% of your gross nonfarm income, and (b) you had net earnings from self-employment of at least $400 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 (not less than zero) or the amount on line 16. Also, include this amount on line 4b above 17 From Sch. F. line 9; and Sch. K-1 (Form 1086), box 14, code 8 From Sch. C, line 31; and Sch. K-1 (Form 1065), box 14, code A * From Sch. F, line 34; and Sch. K-1 Form 1065), box 14, code A-minus the amount From Sch. C, line 7, and Sch K-1 Form 1065), box 14, code C. you would have entered on line 1b had you not used the optional method. For Paperwork Reduction Act Notion, see your tax return instructions. Cat. No. 113522 Schedule SE Form 1040 2020 I Schedule SE Form 1040) 2020 Attachment Sequence No. 17 Page 2 Part III Maximum Deferral of Self-Employment Tax Payments If line 4c is zero, skip lines 18 through 20, and enter -- on line 21 18 Enter the portion of line 3 that can be attributed to March 27, 2020, through December 31, 2020 18 19 If line 18 is more than zero, multiply line 18 by 92.35% (0.9235), otherwise, enter the amount from line 18 19 20 Enter the portion of lines 15 and 17 that can be attributed to March 27, 2020, through December 31, 2020 20 21 Combine lines 19 and 20 21 If line 5b is zero, skip line 22 and enter-O- on line 23 22 Enter the portion of line Sa that can be attributed to March 27, 2020, through December 31, 2020 22 23 Multiply line 22 by 92.35% (0.9235) 23 24 Add lines 21 and 23 24 25 Enter the smaller of line 9 or line 24 25 26 Multiply line 25 by 6.2% (0.062). Enter here and see the instructions for line 12e of Schedule 3 (Form 1040) 26 Schedule SE (Form 1040 2020 Attachment 3 SCHEDULE A Itemized Deductions OMB No 1545-0074 (Form 1040) Go to www.lrs.gov/Schedule for instructions and the latest information. Attach to Form 1040 or 1040-SA. 2020 Department of the Treasury Inilamal Revenue Service Caution: If you are claiming a not qualified disaster loss on Form 4884, see the instructions for ine 16. Sequence No. 07 Nime() shown on Form 1040 or 1040-SA Your social security number Medical Caution: Do not include expenses reimbursed or paid by others. and 1 Medical and dental expenses (see instructions) Dental 2 Enter amount from Form 1040 or 1040-SR, line 11 2 Expenses 3 Multiply line 2 by 7.5% (0.075) 4 Subtract line 3 from line 1. If line 3 is more than line 1, enter -B- Taxes You 5 State and local taxes. Paid 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 dAdd lines 5a through 5c. 5d 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 8 Home mortgage interest and points. If you didn't use all of your home You Paid mortgage loan(s) to buy, build, or improve your home, see Caution: Your instructions and check this box mortgage interest a Home mortgage interest and points reported to you on Form 1098. See instructions if limited instruction 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 5a 5b 5c 5e deduction may be limited (see Ba 8b 8c Bd Be 9 c Points not reported to you on Form 1098. See instructions for special rules d Mortgage insurance premiums (see instructions) e Add lines Ba through 8d 9 Investment interest. Attach Form 4952 if required. See instructions 10 Add lines 8e and 9 11 Gifts by cash or check. If you made any gift of $250 or more, see 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 13 Carryover from prior year 14 Add lines 11 through 13 10 Gifts to Charity Caution: If you made a gift and got a benefit for it tow instructions 12 13 14 5b 5c 5d 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 5e Interest You Paid Cautions Your mortgage interest deduction may be limited (see instructions 7 Add lines 5e and 6 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 bHome 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 Ba 8b c Points not reported to you on Form 1098. See Instructions for special rules 8c d Mortgage insurance premiums (see instructions) 8d e Add lines Ba through 8d Be 9 Investment interest. Attach Form 4952 if required. See instructions 9 10 Add lines 8e and 9 10 Gifts to 11 Gifts by cash or check. If you made any gift of $250 or more, see Charity instructions. 11 Caution: If you 12 Other than by cash or check. If you made any gift of $250 or more, made a gift and got a benefit for it see instructions. You must attach Form 8283 if over $500 12 see instructions 13 Carryover from prior year 13 14 Add lines 11 through 13 Casualty and 15 Casualty and theft loss(es) from a federally declared disaster (other than net 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 list in instructions. List type and amount Itemized Deductions 16 Total 17 Add the amounts in the far right column for lines 4 through 16. Also, enter this amount on Itemized Fom 1040 or 1040-SR, line 12 17 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 171450 Schedule A Form 1040) 2020 14 SCHEDULED (Form 1040) OMB No. 1545-0074 Capital Galns and Losses Attach to Form 1040, 1040-SR, ar 1040-NR. Go to www.lrs.gov/Scheduled for instructions and the latest Information. Use Form 8949 to list your transactions for lines 1b, 2, 3, 8, 9 and 10. 2020 Department of the Troy Internal Revenue Service (9) Name() shown on retum Attachment Sequence Ne 12 Your social security number with columna Did you dispose of any investment(s) in a qualified opportunity fund during the tax year? Yes No 14 "Yes,"attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss. Part 1 Short-Term Capital Gains and Losses-Generally Assets Held One Year or Loss (see instructions) See instructions for how to figure the amounts to enter on the th Gain or ons lines below. Id Adjustments Subtract column Procando Cost This form may be easier to complete if you round off cents to to gain or loss from from column and (sales prio for other basi Form) 8949, Part combine the result whole dollars. line 2. columnal 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 16 16 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 Bchecked 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 4 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 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 Partli below. Otherwise, go to Partill on the back Part II Long-Term Capital Gains and Losses-Generally Assets Held More Than One Year (se instructions) Soe instructions for how to figure the amounts to enter on the IN Gain rosa) Ines below Adjustments Subtract column Procede to gain or lose from from columns and This form may be easier to complete if you round off cents to prow for other Form 1000, combine the result whole dollars line 2 column with column Ba 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 1949. leave this line blank and go to line 8b Bb Totais for all transactions reported on Form(s) 8949 with Box D checked 5 Cout on Form 8949, leave this line blank and go to line 8b Bb 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 : 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 15 Net long-term capital gain or loss). Combine lines Ba through 14 in column (h). Then, go to Part II on the back 15 For Paperwork Reduction Act Notice, see your tax return instructions. Cat No. 11338H Schedule Form 1060 2030 14 Schedule Form 1040 2020 Page 2 Part III Summary 16 16 1 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 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 no 16 la zero, skipines 17 through 21 below and enter 0. on Form 1040, 1040-SR, or 1040-NR, Nine 7. Then, go to line 22 Are lines 15 and 16 both gains? Yes. Go to line 18 No. Skip lines 18 through 21, and go to line 22. If you are required to complete the 28% Rate Gain Worksheet (see instructions), enter the amount, if any, from line 7 of that worksheet If you are required to complete the Unrecaptured Section 1250 Gain Worksheets instructions), enter the amount, if any, from line 18 of that worksheet 17 18 18 19 19 20 Anitha laskund 522 18 19 No. Skip lines 18 through 21, and go to line 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 Are lines 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 I 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, ($1,500) Note: When figuring which amount is smaller, treat both amounts as positive numbers. 21 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. Tax Return Problem 1-Form 1040 Kathy Rogers, an executive manager, resides at 590 Oak Street, Newton, NC 28658. She is single and has no dependents. Her social security number is 486-45-6175. She received $145,780 in wages and had 14,800 of federal income tax withheld during 2020. Kathy received interest income of $3.905 from corporate bonds. Kathy made a $950 cash contribution to a qualifying charity. Complete Kathy's form 1000 Tax Return Problem 12-Schedule SE Howard McDaniel is self-employed and had net earnings from his sole proprietorship of $84.000 in 2020. Howard also had a second job and received wages subject to FICA tax of $68,000. His social security number is 315-79-2468. Complete Howard's Schedule SE. Tax Return Problem 13 - Schedule A James and Nancy Richards enjoyed an adjusted gross income (AGI) of 577,700 for 2020. James' social security number is 123-54-9876. Nancy's social security number is 710-23-8235. They had the following expenses in 2020 MEDICAL EXPENSES: $3,000 Health insurance $2,250 Prescription drugs $ 160 Over-the-counter medicine $ 210 Co pay for doctor's exam $1,750 Dentist $ 800 Chiropractor $ 340 Insurance reimbursement check 100 miles in travel for doctor and dentist appointments TAXES $ 110 State tax refund received in 2020 $1,815 State income tax withholding in 2020 $ 9,960 Property taxes $ 175 Vehicle property tax $4,875 Sales taxes paid in 2020 INTEREST $ 9,303 Home mortgage interest expense paid in 2020 $916 Interest on car loan $ 1,540 Interest expense paid in 2020 on Credit Cards CONTRIBUTIONS A $ 6,300 contributed to the First Bible Church $ 150 contributed to the Red Cross $ 2,000 in housewares and clothing donated to charity $ 20 given to someone asking for money for gas for their car Complete the Schedule A for James and Nancy Tax Return Problem #4 - Schedule D Todd Kennedy (Social Security Number 444-45-4875) had taxable income of $31,130 Todd sold 200 shares of Gateway Industries stock on October 15, 2020, for $2,500. He acquired the stock for $4,200 on July 1, 2017 Todd sold 100 shares of Decker Corporation stock on November 7, 2020, for $5,000. He purchased the stock on May 30, 2020, for $2,800. Todd had a long-term capital loss carryforward from 2019 of 54,300 The Form 1099-8 that Todd received from his broker indicated he had total stock sales in 2020 $7,500 Complete the Schedule D for Todd. 11040 Department of the Treasury-Internal Revenue Barn 099 U.S. Individual Income Tax Return 2020 OMB No 1545-0074 RS Use Only-Do not water staple in this space Filing Status Singia Married filing jointly Married filing separately (MFS) Head of household (HOH Qualifying widow(oc) () Check only If you checked the MFS box, enter the name of your spouse. If you checked the HOH or QW box, enter the child's name if the qualifying one box person is a child but not your dependent Your first name and middle initial Last name Your social security number Kathy Rogers 4 8 4 4 $ 6 175 I joint ratum, spouse's first name and middle initial Last name Spouse's social security number a Last name Home address (number and street). If you have a P O bax, see instructions Apt.no Presidential Election Campaign 590 Oak Street Check here if you, or your City, town, or post office. If you have a foreign address, to complete pacen below. State ZIP code spouse if filing jointly, want $3 to go to this fund. Checking a Newton, NC 28658 box below will not change Foreign country name Foreign province/stata/courty Foreign postal code your tax or refund. You Spouse At any time during 2020, did you receive, sell, sand, 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 retum or you were a dual-status alien Ago/Blindness You Were bom before January 2, 1958 Are blind Spouse: Was bom before January 2, 1956 Is blind Dependents (sne Instructions): (2) Social security Relationship (4) qualified for see instructional If more (1) First name number to you Child to credit Credit for other dependents than four dependents, 1 se instructions and check here Wages, salarios, tips, etc. Attach Form(s) W-2 145,780 Attach 2a Tax-exempt interest 2a b Taxable interest 2b 3,905 Sch. B 3a Qualified dividends 3a b Ordinary dividends 3b required 4a IRA distributions 4a b Taxable amount 4b 5a Pensions and annuities 5a b Taxable amount 5b Standard 6 Social security benefits 6a bTaxable amount Deduction for 7 Capital gain or loss). Attach Schedule Drequired. If not required, check here 7 Singer Married in 8 Other Income from Schedule 1, line 9 parately $12.400 9 Add lines 1, 2, 3, 4, 5, 6, 7 and 8. This is your total income 9 149,685 - Manlieding 10 Adjustments to income: jointy or Dullying a From Schedule 1, tino 22 10a Widower b Charitable contributions it you take the standard deduction. See instructions 524.000 100 Head of Add lines 10a and 10b. These are your total adjustments to income 100 household 11 Subtract line 10c from line 9. This is your adjusted gross income $11.050 11 checked 12 Standard deduction or itemized deductions from Schedule A) 12 12.400 box under 13 Qualified business income deduction. Attach Form 8995 or Form 8995-A 13 Deduction 14 Add lines 12 and 13. 14 12.400 sonsuction 15 Taxable income. Subtract line 14 from line 11. 1200 or less enter 0 15 137205 For Disclosure, Privacy Act, and Paperwork Reduction Act Notice seo separate instructions Cat N113300 um 1040 1 1 18 6b 8 . Standard Pas 2 gg Form 1040 (2020) 16 Tax (san instructions). Check if any from Form(s): 1 8814 2 4972 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. zero or less, enter -- 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 Form(s) W-2 25a Form(s) 1099 25b Other forms (sen Instructions) 250 d Add lines 25a through 250 25d 26 2020 estimated tax payments and amount applied from 2019 retum 28 If you have qualifying child, 27 Earned Income credit (EIC) 27 attach Sch. EXC If you have 28 Additional child tax credit. Attach Schedule 8812 28 Nontable 29 combat pay 29 American opportunity credit from Form 8863, line 8 structions. 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 34 Refund 34 W line 33 is more than line 24, subtract line 24 from line 33. This is the amount you overpaid 350 Amount of line 34 you want refunded to you. If Form 8888 is attached, check here 350 Direct deposit Routing number Type Checking Savings See instructions d Account number 36 Amount of line 3d you want bloplied to your 2021 estimated tax 36 Amount 37 Subtract line 33 from in 24. This is the amount you owe now 37 You Owe Note: Schedule Hand Schedule SE files, line 37 may not represent all of the taxes you own for For details on 2020. See Schedule 3, fine 120, and its instructions for details how to pay Instructions 38 Estimated tax penalty (se instructions) 38 Third Party Do you want to allow another person to discuss the return with the RS? See Designee Instructions Yes. Complete below. No Designe's Phone Personal Identification no number 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 beller, they are recorrect, and complete. Declaration of prepare other than taxpayer) in based on all information of which preparer has any knowledge Here Your signature Date Your occupation If the IRS sent you an identity Protection PIN anter it here Joint retum (see inst) So instruction Spouse's signature. If a joint retum both must sign Spouse's occupation if the IRS sent your spouse an Keep a copy for Identity Protection PIN enter it here your records sent) Phone no Email address Preparer's name Preparee's signature PTIN Check it Paid Self-employed Preparer Firm's name Use Only Date Da Phone no OMB No 1545-0074 1a 3 4a CHEDULE SE orm 1040) Self-Employment Tax partment of the Treasury Go to www.irs.gov/ScheduleSE for instructions and the latest Information 2020 amal Revenue Service 1991 Attach to Form 1040, 1040-SR, or 1040-NR. Attachment Sequence No. 17 me of person with self-employment income (as shown on Form 1040, 1040-SR, or 1080-NR) Social security number of person with self-employment income Part I Self-Employment Tax Hote: If your only income subject to self-employment tax is church employee income, see instructions for how to report your income ind the definition of church employee income. 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! Skip lines 12 and 1b if you use the farm optional method in Part II. See Instructions. 1a Net farm profit or loss) from Schedule F, line 34, and farm partnerships, Schedule K-1 (Form 1065). box 14, code A b If 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 1b 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), box 14, code A (other than farming). See 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 4a If line 3 is more than zero, multiply line 3 by 92.35% (0.9235). Otherwise, enter amount from line 3 Note: If line 4a is less than $400 due to Conservation Reserve Program payments on line 1b, see instructions. b If you elect one or both of the optional methods, enter the total of lines 15 and 17 here c Combine lines 4a and 4b. If less than $400, stop: you don't owe self-employment tax. Exception: If less than $400 and you had church employee income, enter -- and continue 5a Enter your church employee income from Form W-2. See instructions for definition of church employee income b Multiply line 5a by 92.35% (0.9235). If less than $100, enter -- 6 Add lines 4c and 5b 7 Maximum amount of combined wages and self-employment earnings subject to social security tax or the 6.2% portion of the 7.65% railroad retirement (tier 1) tax for 2020 137.700 8a Total social security wages and tips (total of boxes 3 and 7 on Form(s) W-2) and railroad retirement (tier 1) compensation. If $137.700 or more, skip lines 8b through 10, and go to line 11 b Unreported tips subject to social security tax from Form 4137, line 10 c Wages subject to social security tax from Form 8919, line 10 8c d Add lines 8a, 8b, and 8c Subtract line 8d from line 7. If zero or less, enter -O- here and on line 10 and go to line 11 Multiply the smaller of line 6 or line 9 by 12.4% (0.124) 10 Multiply line 6 by 2.9% (0.029) Self-employment tax. Add lines 10 and 11. Enter here and on Schedule 2 (Form 1040), line 4 Deduction for one-half of self-employment tax. Multiply line 12 by 50% (0.50). Enter here and on Schedule 1 (Form 1040). Part II Optional Methods To Figure Net Earnings (see instructions) Farm Optional Method. You may use this method only if (a) your gross farm income wasn't more than S8.460.hotfmnts were to than 107 4b 4c 5a 5b 6 7 8 8b . 8d 9 9 10 11 12 13 11 12 line 14 13 12 12 Seremployment LAX Hold lines and Entertore and on schedulo (FOTO) 13 Deduction for one-half of self-employment tax. Multiply line 12 by 50% (0.50). Enter here and on Schedule 1 (Form 1040), line 14. 13 Part II Optional Methods To Figure Net Earnings (see instructions) Farm Optional Method. You may use this method only if (a) your gross farm income wasn't more than $8,460, or (b) your net farm profits were less than $6,107 14 Maximum Income for optional methods 14 5,640 15 Enter the smaller of two-thirds (1/a) of gross farm income (not less than zero) or $6,640. Also, include this amount on line 4b above 15 Nonfarm Optional Method. You may use this method only if (a) your net nonfarm profits were less than $6,107 and also less than 72.189% of your gross nonfarm income, and (b) you had net earnings from self-employment of at least $400 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 (not less than zero) or the amount on line 16. Also, include this amount on line 4b above 17 From Sch. F. line 9; and Sch. K-1 (Form 1086), box 14, code 8 From Sch. C, line 31; and Sch. K-1 (Form 1065), box 14, code A * From Sch. F, line 34; and Sch. K-1 Form 1065), box 14, code A-minus the amount From Sch. C, line 7, and Sch K-1 Form 1065), box 14, code C. you would have entered on line 1b had you not used the optional method. For Paperwork Reduction Act Notion, see your tax return instructions. Cat. No. 113522 Schedule SE Form 1040 2020 I Schedule SE Form 1040) 2020 Attachment Sequence No. 17 Page 2 Part III Maximum Deferral of Self-Employment Tax Payments If line 4c is zero, skip lines 18 through 20, and enter -- on line 21 18 Enter the portion of line 3 that can be attributed to March 27, 2020, through December 31, 2020 18 19 If line 18 is more than zero, multiply line 18 by 92.35% (0.9235), otherwise, enter the amount from line 18 19 20 Enter the portion of lines 15 and 17 that can be attributed to March 27, 2020, through December 31, 2020 20 21 Combine lines 19 and 20 21 If line 5b is zero, skip line 22 and enter-O- on line 23 22 Enter the portion of line Sa that can be attributed to March 27, 2020, through December 31, 2020 22 23 Multiply line 22 by 92.35% (0.9235) 23 24 Add lines 21 and 23 24 25 Enter the smaller of line 9 or line 24 25 26 Multiply line 25 by 6.2% (0.062). Enter here and see the instructions for line 12e of Schedule 3 (Form 1040) 26 Schedule SE (Form 1040 2020 Attachment 3 SCHEDULE A Itemized Deductions OMB No 1545-0074 (Form 1040) Go to www.lrs.gov/Schedule for instructions and the latest information. Attach to Form 1040 or 1040-SA. 2020 Department of the Treasury Inilamal Revenue Service Caution: If you are claiming a not qualified disaster loss on Form 4884, see the instructions for ine 16. Sequence No. 07 Nime() shown on Form 1040 or 1040-SA Your social security number Medical Caution: Do not include expenses reimbursed or paid by others. and 1 Medical and dental expenses (see instructions) Dental 2 Enter amount from Form 1040 or 1040-SR, line 11 2 Expenses 3 Multiply line 2 by 7.5% (0.075) 4 Subtract line 3 from line 1. If line 3 is more than line 1, enter -B- Taxes You 5 State and local taxes. Paid 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 dAdd lines 5a through 5c. 5d 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 8 Home mortgage interest and points. If you didn't use all of your home You Paid mortgage loan(s) to buy, build, or improve your home, see Caution: Your instructions and check this box mortgage interest a Home mortgage interest and points reported to you on Form 1098. See instructions if limited instruction 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 5a 5b 5c 5e deduction may be limited (see Ba 8b 8c Bd Be 9 c Points not reported to you on Form 1098. See instructions for special rules d Mortgage insurance premiums (see instructions) e Add lines Ba through 8d 9 Investment interest. Attach Form 4952 if required. See instructions 10 Add lines 8e and 9 11 Gifts by cash or check. If you made any gift of $250 or more, see 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 13 Carryover from prior year 14 Add lines 11 through 13 10 Gifts to Charity Caution: If you made a gift and got a benefit for it tow instructions 12 13 14 5b 5c 5d 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 5e Interest You Paid Cautions Your mortgage interest deduction may be limited (see instructions 7 Add lines 5e and 6 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 bHome 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 Ba 8b c Points not reported to you on Form 1098. See Instructions for special rules 8c d Mortgage insurance premiums (see instructions) 8d e Add lines Ba through 8d Be 9 Investment interest. Attach Form 4952 if required. See instructions 9 10 Add lines 8e and 9 10 Gifts to 11 Gifts by cash or check. If you made any gift of $250 or more, see Charity instructions. 11 Caution: If you 12 Other than by cash or check. If you made any gift of $250 or more, made a gift and got a benefit for it see instructions. You must attach Form 8283 if over $500 12 see instructions 13 Carryover from prior year 13 14 Add lines 11 through 13 Casualty and 15 Casualty and theft loss(es) from a federally declared disaster (other than net 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 list in instructions. List type and amount Itemized Deductions 16 Total 17 Add the amounts in the far right column for lines 4 through 16. Also, enter this amount on Itemized Fom 1040 or 1040-SR, line 12 17 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 171450 Schedule A Form 1040) 2020 14 SCHEDULED (Form 1040) OMB No. 1545-0074 Capital Galns and Losses Attach to Form 1040, 1040-SR, ar 1040-NR. Go to www.lrs.gov/Scheduled for instructions and the latest Information. Use Form 8949 to list your transactions for lines 1b, 2, 3, 8, 9 and 10. 2020 Department of the Troy Internal Revenue Service (9) Name() shown on retum Attachment Sequence Ne 12 Your social security number with columna Did you dispose of any investment(s) in a qualified opportunity fund during the tax year? Yes No 14 "Yes,"attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss. Part 1 Short-Term Capital Gains and Losses-Generally Assets Held One Year or Loss (see instructions) See instructions for how to figure the amounts to enter on the th Gain or ons lines below. Id Adjustments Subtract column Procando Cost This form may be easier to complete if you round off cents to to gain or loss from from column and (sales prio for other basi Form) 8949, Part combine the result whole dollars. line 2. columnal 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 16 16 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 Bchecked 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 4 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 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 Partli below. Otherwise, go to Partill on the back Part II Long-Term Capital Gains and Losses-Generally Assets Held More Than One Year (se instructions) Soe instructions for how to figure the amounts to enter on the IN Gain rosa) Ines below Adjustments Subtract column Procede to gain or lose from from columns and This form may be easier to complete if you round off cents to prow for other Form 1000, combine the result whole dollars line 2 column with column Ba 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 1949. leave this line blank and go to line 8b Bb Totais for all transactions reported on Form(s) 8949 with Box D checked 5 Cout on Form 8949, leave this line blank and go to line 8b Bb 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 : 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 15 Net long-term capital gain or loss). Combine lines Ba through 14 in column (h). Then, go to Part II on the back 15 For Paperwork Reduction Act Notice, see your tax return instructions. Cat No. 11338H Schedule Form 1060 2030 14 Schedule Form 1040 2020 Page 2 Part III Summary 16 16 1 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 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 no 16 la zero, skipines 17 through 21 below and enter 0. on Form 1040, 1040-SR, or 1040-NR, Nine 7. Then, go to line 22 Are lines 15 and 16 both gains? Yes. Go to line 18 No. Skip lines 18 through 21, and go to line 22. If you are required to complete the 28% Rate Gain Worksheet (see instructions), enter the amount, if any, from line 7 of that worksheet If you are required to complete the Unrecaptured Section 1250 Gain Worksheets instructions), enter the amount, if any, from line 18 of that worksheet 17 18 18 19 19 20 Anitha laskund 522 18 19 No. Skip lines 18 through 21, and go to line 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 Are lines 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 I 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, ($1,500) Note: When figuring which amount is smaller, treat both amounts as positive numbers. 21 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