29. Form 8949 and Schedule D. (Obj. 7) a. Michael L. (SSN 374-47-7774) and Joyce A. (SSN 642-81-9982) Sea, both age 38, file a joint tax return. They sold the following investments during the year. All sales were reported to the Seas on Form 1099-B. None showed the Seas' basis. Date Date Sold uste Basis $1,661 5,820 850 4,600 800 Sales Price 12-6-17 $2,311 11-14-17 4,320 715 2,430 900 Acquired Description 20 shares Red Corp. 50 shares Lee Corp. 60 shares Alf Corp 100 shares RST Corp $1,000 bond, TF Co 9-15-11 6-10-16 5-10-95 5-5-17 10-15-17 8-8-17 10-15-17 The Seas carried over a $260 short-term capital loss and a $2,500 long-term capital loss from 2016. The Seas report taxable wages of $51,920. From this amount $1,840 was withheld for federal income taxes. The Seas's only other item of gross income during the year was $1,200 of dividend income, which includes $850 of qualified dividends. Prepare the Seas' 2017 tax return. Neither want $3 to go to the Presidential election campaign fund. Use the approach from Examples 10-12 to compute the Seas' tax. The Seas live at 1319 Mayfair Drive, Champaign, IL 61821. They claim one dependent, their 13-year-old son, Tad (SSN 629-43-7881). The Seas get full health care coverage through Michael's work. The Seas sign their return on April 15, 2018 b. Ellen B. Ryan (SSN 392-40-6811) is unmarried with no dependents. Ellen lives at 1840 S. 200 West, Reno, Nevada 89434. She is 34 years old. During the year, she sold common stock in the following companies. All stock sales were reported to Ellen on Form 1099 None showed Ellen's basis Date Acquired 8-9-16 3-10-16 1-19-09 Adjusted Basis $5,175 3,929 6,570 Sales Price 5-11-17 $6,345 7-15-17 3,556 11-27-17 11,844 Date Description 400 shares Gable Co 127 shares Tolano Corp 690 shares Radian, Inc Sold Elen caried over a $3,500 long-term capital loss from 2016. Her taxable w ere $61,893 in 2017. Her employer withheld $7,630 for federal income taxes. Ellen also had 50 of taxable interest and $540 of tax-exempt interest. Ellen wants $3 to go to the Presidential campaign fund Prepare Ellen's 2017 tax return that she signs on April 11, 2018. Use the approach from Examples 10-12 to compute Ellen's tax. Ellen gets full health care coverage through her wor 29. Form 8949 and Schedule D. (Obj. 7) a. Michael L. (SSN 374-47-7774) and Joyce A. (SSN 642-81-9982) Sea, both age 38, file a joint tax return. They sold the following investments during the year. All sales were reported to the Seas on Form 1099-B. None showed the Seas' basis. Date Date Sold uste Basis $1,661 5,820 850 4,600 800 Sales Price 12-6-17 $2,311 11-14-17 4,320 715 2,430 900 Acquired Description 20 shares Red Corp. 50 shares Lee Corp. 60 shares Alf Corp 100 shares RST Corp $1,000 bond, TF Co 9-15-11 6-10-16 5-10-95 5-5-17 10-15-17 8-8-17 10-15-17 The Seas carried over a $260 short-term capital loss and a $2,500 long-term capital loss from 2016. The Seas report taxable wages of $51,920. From this amount $1,840 was withheld for federal income taxes. The Seas's only other item of gross income during the year was $1,200 of dividend income, which includes $850 of qualified dividends. Prepare the Seas' 2017 tax return. Neither want $3 to go to the Presidential election campaign fund. Use the approach from Examples 10-12 to compute the Seas' tax. The Seas live at 1319 Mayfair Drive, Champaign, IL 61821. They claim one dependent, their 13-year-old son, Tad (SSN 629-43-7881). The Seas get full health care coverage through Michael's work. The Seas sign their return on April 15, 2018 b. Ellen B. Ryan (SSN 392-40-6811) is unmarried with no dependents. Ellen lives at 1840 S. 200 West, Reno, Nevada 89434. She is 34 years old. During the year, she sold common stock in the following companies. All stock sales were reported to Ellen on Form 1099 None showed Ellen's basis Date Acquired 8-9-16 3-10-16 1-19-09 Adjusted Basis $5,175 3,929 6,570 Sales Price 5-11-17 $6,345 7-15-17 3,556 11-27-17 11,844 Date Description 400 shares Gable Co 127 shares Tolano Corp 690 shares Radian, Inc Sold Elen caried over a $3,500 long-term capital loss from 2016. Her taxable w ere $61,893 in 2017. Her employer withheld $7,630 for federal income taxes. Ellen also had 50 of taxable interest and $540 of tax-exempt interest. Ellen wants $3 to go to the Presidential campaign fund Prepare Ellen's 2017 tax return that she signs on April 11, 2018. Use the approach from Examples 10-12 to compute Ellen's tax. Ellen gets full health care coverage through her wor