Assume the taxpayer does NOT wish to contribute to the Presidential Election Fund, unless otherwise stated in the problem. Assume all taxpayers did NOT receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency during the year. Jorge Gomez is a single taxpayer. His SSN is 412-34-5670, and he lives at 5037 Circle Court, Crestview, IL 60543. He is a supervisor and his 2020 W2 shows gross wages of $94.850 with $5,881 of social security and $1,375 of Medicare taxes withheld. He has $14,500 of federal withholding and $2,595 in state withholding. Jorge does not itemize. He had the following stock transactions for the year: Stock Date Shares Purchased Date Sold Sale Price Cost Basis 5,500 7/8/19 9/12/20 $ 15,000 $ 18,000 800 3/12/20 10/21/20 43,000 47,000 2,800 2/13/13 10/21/20 30,000 22,000 He also has interest from a savings account with Local Neighborhood Bank of $250 and a dividend from a Form 1099-DIV of $1,600 in ordinary dividends received from ABC brokerage, of which $1,350 are considered qualified dividends. Required: Prepare a 2020 Form 1040 for Jorge and all related schedules and forms. Assume that each box 3 of the 1099-Bs was not checked for all sales transactions. (Instructions can be found on certain cells within the forms. Input all the values as positive numbers. Round your final answers to nearest whole dollar.) Use the appropriate Tax Tables and Tax Rate Schedules. 1040 for a single taxpayer with no dependents. 1040 PG 1 1040 PG 2 Schedule B Schedule D PG1 Schedule D PG2 Assume the taxpayer does NOT wish to contribute to the Presidential Election Fund, unless otherwise stated in the problem. Assume all taxpayers did NOT receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency during the year. Jorge Gomez is a single taxpayer. His SSN is 412-34-5670, and he lives at 5037 Circle Court, Crestview, IL 60543. He is a supervisor and his 2020 W2 shows gross wages of $94.850 with $5,881 of social security and $1,375 of Medicare taxes withheld. He has $14,500 of federal withholding and $2,595 in state withholding. Jorge does not itemize. He had the following stock transactions for the year: Stock Date Shares Purchased Date Sold Sale Price Cost Basis 5,500 7/8/19 9/12/20 $ 15,000 $ 18,000 800 3/12/20 10/21/20 43,000 47,000 2,800 2/13/13 10/21/20 30,000 22,000 He also has interest from a savings account with Local Neighborhood Bank of $250 and a dividend from a Form 1099-DIV of $1,600 in ordinary dividends received from ABC brokerage, of which $1,350 are considered qualified dividends. Required: Prepare a 2020 Form 1040 for Jorge and all related schedules and forms. Assume that each box 3 of the 1099-Bs was not checked for all sales transactions. (Instructions can be found on certain cells within the forms. Input all the values as positive numbers. Round your final answers to nearest whole dollar.) Use the appropriate Tax Tables and Tax Rate Schedules. 1040 for a single taxpayer with no dependents. 1040 PG 1 1040 PG 2 Schedule B Schedule D PG1 Schedule D PG2
