Given the following information for Jane Cole, complete Schedule D of Form 1040 through Part III.

• Stock options, which she purchases on February 14 of the current year for \($850,\) expire on October 1. Basis was reported by the brokerage company to the IRS.

• On July 1, she sells for \($4,500\) her personal-use automobile acquired on March 31, 2013, for \($18,000\) .

• On August 16, she sells for \($3,100\) her stock of York Corporation purchased as an investment on February 16, for \($1,600.\) Basis was reported by the brokerage company to the IRS.

• On March 15, she sells for \($5,600\) an antique ring, a gift from her grandmother on January 10, 2008, when its FMV was \($1,600.\) The ring was purchased by her grandmother on April 2, 1982, for \($1,800\).

• She has an STCL carryover of \($250\) from last year.

Data From Form 1040

Transcribed Image Text:

SCHEDULE D (Form 1040) Department of the Treasury Internal Revenue Service Name(s) shown on retur Capital Gains and Losses Attach to Form 1040, 1040-SR, or 1040-NR. Go to www.irs.gov/ScheduleD for instructions and the latest information. Use Form 8949 to list your transactions for lines 1b, 2, 3, 8b, 9, and 10. OMB No. 1545-0074 2022 Attachment Sequence No. 12 Your social security number Jane Cole Yes No Did you dispose of any investment(s) in a qualified opportunity fund during the tax year? If "Yes," attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss. Part Short-Term Capital Gains and Losses-Generally Assets Held One Year or Less (see instructions) See instructions for how to figure the amounts to enter on the lines below. This form may be easier to complete if you round off cents to whole dollars. 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 1b. 1b 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 B checked 3 Totals for all transactions reported on Form(s) 8949 with Box C checked (d) Proceeds (sales price) (e) Cost (or other basis) 3,100 2,450 (g) Adjustments to gain or loss from Form(s) 8949, Part I, line 2, column (g) 4 Short-term gain from Form 6252 and short-term gain or (loss) from Forms 4684, 6781, and 8824 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 7 Net short-term capital gain or (loss). Combine lines 1a through 6 in column (h). If you have any long- term capital gains or losses, go to Part II below. Otherwise, go to Part III on the back 4 (h) Gain or (loss) Subtract column (e) from column (d) and combine the result with column (g) 650 5 6 ( 250 7 400