Required information

Please provide an Form 1040 through line 9 and Schedule 1 for Ken based on the information below

[The following information applies to the questions displayed below.]

Ken is 63 years old and unmarried. He retired at age 55 when he sold his business, Understock.com. Though Ken is retired, he is still very active. Ken reported the following financial information this year. Assume Ken files as a single taxpayer.

1. Ken won $1,200 in an illegal game of poker (the game was played in Utah, where gambling is illegal).
2. Ken sold 1,000 shares of stock for $32 a share. He inherited the stock two years ago. His tax basis (or investment) in the stock was $31 per share.
3. Ken received $25,000 from an annuity he purchased eight years ago. He purchased the annuity, to be paid annually for 20 years, for $210,000.
4. Ken received $13,000 in disability benefits for the year. He purchased the disability insurance policy last year.
5. Ken decided to go back to school to learn about European history. He received a $500 cash scholarship to attend. He used $300 to pay for his books and tuition, and he applied the rest toward his new car payment.
6. Ken's son, Mike, instructed his employer to make half of his final paycheck of the year payable to Ken as a gift from Mike to Ken. Ken received the check on December 30 in the amount of $1,100.
7. Ken received a $610 refund of the $3,600 in state income taxes his employer withheld from his pay last year. Ken claimed $12,600 in itemized deductions last year (the standard deduction for a single filer was $12,550).
8. Ken received $30,000 of interest from corporate bonds and money market accounts

Department of the Treasury Internal Revenue Service (99) U.S. Individual Income Tax 2021 OMB No. 1545-0074 IRS Use Only-Do not write or staple in this space. Return Filing Status Single Married filing cinth Married fling separately (MFS) Head of household (HOH) [Qualitying widowtar) (aw) Check only I 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 person is one box. a child but not your dependent. I Your first name and middle initial Last name Your social security number Ken 111-22-333 spouse's soolal security If joint return, spouse's first name and middle initial Last name number Home address (number and street). If you have a P.O. box, see instructions. Apt. no. Presidential Election Campaign Check here i you, or your spouse City, town, or post office. If you have a foreign address, also complete spaces below. Stain ZIP code f fung jointly want $3 to go to this fund. Chocking a box below will not change your tax or refund. Foreign country name Foreign provinceistatercounty Foreign postal code You Spouse At any time during 2021, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any Yes virtual currency?' Someone can Standard claimc You as a dependent Your spouse as a dependent Deduction Spouse itemizes on a separate rotum or you were a dual-status alien Age/Blindness YOU! Were born before January 2, 1957 |Are bind Spouse: Was born before January 2, 1957 ]Is blind Dependents instructions): 12) Social security number (3) Relationship to you (4) if quallies for (500 instructionsk (1) First Child tax Credit for Last name other If more than dependents four dependents, sow instructions and chack here 1 Wages, salaries, tips, etc. Attach Form(s) W.2 1 2b Attach Sch. B if 2a Tax exempt interest b Taxable interest. 30,000 required. 3a Qualified dividends 3a b Ordinary dividends. 3b 43 IRA distributions 4a b Taxable amount 4b Sa Pensions and annuities 14.500 xb Taxable amount 14,500I Wages, salaries, tips, etc. Attach Form(s) W.2 2a Tax exempt interest 2a b Taxable interest. 2b 30,000 Attach Sch. B if required. 3a Qualified dividends 3a b Ordinary dividends. 3b 43 IRA distributions 40 b Taxable amount 4b Sa Pensions and annuities 14.500 b Taxable amount Sb 14,500 b Taxable amount Ab Standard Sa Social security benefits Deduction for- 7 Capital gain or (loss). Attach Schedule D if required. If not required, . Single or 1,000 check hare Married filing 1,450 separately. 8 Other income from Schedule 1, line 10 $12,560 9 Add lines 1, 2b, 3b, 46, 6b, 60. 7, and B. This is your total income 46,950 * Married filing jointly or 10 Adjustments to income from Schedule 1, line 26 - 10 Qualifying widower) 11 Subtract line 10 from line 9. This is your adjusted 11 $25,100 gross income + Head of 12a Standard deduction or itemized deductions (from 123 household, Schedule A) $18,800 b Charitable contributions if you take the standard .you 12b deduction (soo instructions) chocked 120 any box under Add lines 12a and 12b Standard 13 Qualified business income deduction from Form 8995 or Form 8995-A 13 Deduction, 14 500 14 Add lines 120 and 13 instructions. 16 Taxable income. Subtract line 14 from line 11. If zero or less, enter -0- 15 46,950 Cat. No. Form 1040 For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see soparato instructions. 113208 (2021) THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. @ 2022 MoG raw-Hill Education.Form 1040 Schedule 1. SCHEDULE 1 OMB No. 1545-0074 (Form 1040) Additional Income and Adjustments to Income 2021 Department of the Treasury Attach to Form 1040, 1040-5R, or 1040-NR. Attachment Sequence No. 01 Internal Revenue Service `Go to www.irs.gow/Form1040 for instructions and the latest information. Name(s) shown on Form 1040, 1040-SR, or 1040-NR Your social security number Ken 111-22-3333 Part I Additional Income Taxable refunds, credits, or offsets of state and local income taxes Alimony received Date of original divorce or separation agreement (soo Instructions) Business income or (loss). Attach Schedule C 3 Other gains or (losses). Attach Form 4797 Rental real estate, royalties, partnerships, $ corporations, trusts, etc. Attach Schedule E Farm income or (loss). Attach Schedule F Unemployment compensation Other Incomec Not operating loss Gambling Income 8b 1,200 Cancellation of debt Foreign earned income exclusion from Form 2585 Taxable Health Savings Account distribution Alaska Permanent Fund dividends Jury duty pay 8a Prizes and awards Activity not engaged in for profit income Stock options Income from the rental of personal property if you engaged in the rental for profit but were not in the business of renting such S.k property Olympic and Paralympic medals and USOC prize money (see Instructions) Section 95 1(a) indusion (see instructions) Section 961Aja) inclusion (see instructions). an Section 461() excess business loss adjustment Taxable distributions from an ABLE account (see 8p instructions) Other Income. List type and amount BZ9 Total other income. Add lines Ba through Ez 9 1,200 10 Combine lines 1 through 7 and 8. Enter here and on Form 1040, 1040-SR, or 1040-NR, line B 10 1,260 Part II Adjustments to Income 11 Educator expanses 11 12 Certain business expenses of reservists, performing artists, and foc-basis goverment 12 officials. Attach Form 2106 13 Health savings account deduction. Attach Form 8989 13 14 Moving expenses for members of the Armed Forces. Attach Form 3803 14 16 Deductible part of self-employment tax. Attach Schedule SE 15 16 Self-employed SEP, SIMPLE, and qualified plans 16 17 Self-employed health insurance deduction 17 18 Penalty on early withdrawal of savings 18 193 Alimony paid 193 b Recipient's SSN Date of original divorce or separation agreement (see instructions 20 RA deduction 20 21 Student loan interest deduction 21 22 Reserved for future use 22 23 Archer MGA deduction 23 24 Other adjustments: Jury duty pay (see instructions) Deductible expenses related to income reported on line Uk from the rental of personal 24b property engaged in for profit Nontaxable amount of the value of Olympic and Paralympic medals and USOC prize 240 money reported on line al Reforestation amortization and expenses 24d Repayment of supplemental unemployment benefits under the Trade Act of 1974 24a Contributions to section 801(0) (18)(D) pension plans 241 Contributions by certain chaplains to section 403(b) plans 24 Attorney fees and court costs for actions involving certain unlawful discrimination 24h claims (soo instructions) Attorney fees and court costs you paid in connection with an award from the IRS for 24 information you provided that helped the IS detect tax law violations Housing deduction from Form 2860 24 Excess deductions of section 67(6) expenses from Schedule K-1 (Form 1041) 24k Other adjustments. List type and amount 24z 25 Total other adjustments. Add lines 24a through 24z 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 26 For 1040-NR, line 10a For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 71479F Schedule 1 (Form 1040) 2021 THIS FORM IS A SIMULATION OF AN OFFICIAL US. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. @ 2022 MoGraw-Hill Education