4 Required information [The following information applies to the questions displayed below.] Pan 2012 Part 2 of 2 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. 30 points eBook a. Ken won $1,200 in an illegal game of poker (the game was played in Utah, where gambling is illegal). b. 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. c. Ken received $25,000 from annuity he purchased eight years ago. He purchased the annuity, to be paid annually for 20 years, for $210,000. d. Ken received $13,000 in disability benefits for the year. He purchased the disability insurance policy last year. e. 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. f. 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. g. Ken received a $610 refund of the $3,600 in state income taxes his employer withheld from his pay last year. Ken claimed $12,250 in itemized deductions last year (the standard deduction for a single filer was $12,200). h. Ken received $30,000 of interest from corporate bonds and money market accounts. References Complete page 1 of Form 1040, Line 1-7b and Form 1040, Schedule 1, Lines 1-9 for Ken. (Input all the values as positive numbers. Enter any non-financial information, (e.g. Names, Addresses, social security numbers) EXACTLY as they appear in any given information or Problem Statement.) 1040 for a single taxpayer. 1040 PG 1 Schedule 1 Form 1040 Department of the Treasury-Internal Revenue Service (99) 2019 OMB No. 1545-0074 IRS Use Only-Do not write or staple in this space. U.S. Individual Income Tax Return Single Married filing jointly Married filing separately (MFS) Head of household (HOH) Qualifying widow(er) (QW) If you checked the MFS box, enter the name of spouse. If you checked the HOH or QW box, enter the child's name if the qualifying person is Filing Status Check only Chapter 5 (b) Assignment Saved 4 Required information 1040 for a single taxpayer. Part 2 of 2 1040 PG 1 Schedule 1 30 points Department of the Treasury-Internal Revenue Form 1040 Service (99) 2019 OMB No. 1545-0074 IRS Use Only-Do not write or staple in this space. U.S. Individual Income Tax Return Filing Status Single Married filling jointly Married filing separately (MFS) Head of household (HOH) ) Qualifying widower) (QW) Check only If you checked the MFS box, enter the name of 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. Your first name and middle initial Last name Your social security number (Enter as 06-01-20) eBook r References If joint return, spouse's first name and middle initial Last name Spouse's social security number (Enter as xocx-xx- Home address (number and street). If you have a P.O.box, see instructions. Apt.no Presidential Election Campaign Check here if you, or your spouse if filing jointly, want 53 to go to this fund. Checking a box below will not change your tax or refund City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Foreign country name Foreign province/state/county Foreign postal code You Spouse If more than four dependents, see instructions and here 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 Age/Blindness You: Were born before January 2, 1955 Are blind Spouse: Was born before January 2, 1955 Is blind Dependents (see instructions): (2) Social security number (3) Relationship to you (4) Vif qualifies for (see instructions) (1) First name Last name (Enter as xx-xx-xocx) Child tax credit Credit for other dependents 1 Wages, salaries, tips, etc. Attach Form(s) W-2 1 2a Tax-exempt interest 2a 2b 3a Qualified dividends 3a b Taxable interest. Attach Sch. Bif required b Ordinary dividends. Attach Sch. Bif required b Taxable amount 3b 4b d Taxable amount 4d b Taxable amount 5b 4a IRA distributions 42 Standard Deduction for- Pensions and annuities 4c Single or Married filing separately. 5a Social security benefits 5a $12,200 - Married filing 6 Capital gain or loss). Attach Schedule Dif required. If not required, check here jointly or Qualifying 7a Other income from Schedule 1, line 9 widower) $24,400 Head of b Add lines 1, 26, 36, 46, 4d, 56, 6 and 7a. This is your total income household, 19 20 | 8a Adjustments to income from Schedule 1, line 22 6 6 7a 7b 0 8a Mc 4 Required information [The following information applies to the questions displayed below.] Pan 2012 Part 2 of 2 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. 30 points eBook a. Ken won $1,200 in an illegal game of poker (the game was played in Utah, where gambling is illegal). b. 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. c. Ken received $25,000 from annuity he purchased eight years ago. He purchased the annuity, to be paid annually for 20 years, for $210,000. d. Ken received $13,000 in disability benefits for the year. He purchased the disability insurance policy last year. e. 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. f. 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. g. Ken received a $610 refund of the $3,600 in state income taxes his employer withheld from his pay last year. Ken claimed $12,250 in itemized deductions last year (the standard deduction for a single filer was $12,200). h. Ken received $30,000 of interest from corporate bonds and money market accounts. References Complete page 1 of Form 1040, Line 1-7b and Form 1040, Schedule 1, Lines 1-9 for Ken. (Input all the values as positive numbers. Enter any non-financial information, (e.g. Names, Addresses, social security numbers) EXACTLY as they appear in any given information or Problem Statement.) 1040 for a single taxpayer. 1040 PG 1 Schedule 1 Form 1040 Department of the Treasury-Internal Revenue Service (99) 2019 OMB No. 1545-0074 IRS Use Only-Do not write or staple in this space. U.S. Individual Income Tax Return Single Married filing jointly Married filing separately (MFS) Head of household (HOH) Qualifying widow(er) (QW) If you checked the MFS box, enter the name of spouse. If you checked the HOH or QW box, enter the child's name if the qualifying person is Filing Status Check only Chapter 5 (b) Assignment Saved 4 Required information 1040 for a single taxpayer. Part 2 of 2 1040 PG 1 Schedule 1 30 points Department of the Treasury-Internal Revenue Form 1040 Service (99) 2019 OMB No. 1545-0074 IRS Use Only-Do not write or staple in this space. U.S. Individual Income Tax Return Filing Status Single Married filling jointly Married filing separately (MFS) Head of household (HOH) ) Qualifying widower) (QW) Check only If you checked the MFS box, enter the name of 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. Your first name and middle initial Last name Your social security number (Enter as 06-01-20) eBook r References If joint return, spouse's first name and middle initial Last name Spouse's social security number (Enter as xocx-xx- Home address (number and street). If you have a P.O.box, see instructions. Apt.no Presidential Election Campaign Check here if you, or your spouse if filing jointly, want 53 to go to this fund. Checking a box below will not change your tax or refund City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Foreign country name Foreign province/state/county Foreign postal code You Spouse If more than four dependents, see instructions and here 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 Age/Blindness You: Were born before January 2, 1955 Are blind Spouse: Was born before January 2, 1955 Is blind Dependents (see instructions): (2) Social security number (3) Relationship to you (4) Vif qualifies for (see instructions) (1) First name Last name (Enter as xx-xx-xocx) Child tax credit Credit for other dependents 1 Wages, salaries, tips, etc. Attach Form(s) W-2 1 2a Tax-exempt interest 2a 2b 3a Qualified dividends 3a b Taxable interest. Attach Sch. Bif required b Ordinary dividends. Attach Sch. Bif required b Taxable amount 3b 4b d Taxable amount 4d b Taxable amount 5b 4a IRA distributions 42 Standard Deduction for- Pensions and annuities 4c Single or Married filing separately. 5a Social security benefits 5a $12,200 - Married filing 6 Capital gain or loss). Attach Schedule Dif required. If not required, check here jointly or Qualifying 7a Other income from Schedule 1, line 9 widower) $24,400 Head of b Add lines 1, 26, 36, 46, 4d, 56, 6 and 7a. This is your total income household, 19 20 | 8a Adjustments to income from Schedule 1, line 22 6 6 7a 7b 0 8a Mc