Question
Based on the following information, prepare Form 8949 and Schedule D for Jane Cole. Complete a Form 8949 and transfer the appropriate information to Schedule
Based on the following information, prepare Form 8949 and Schedule D for Jane Cole. Complete a Form 8949 and transfer the appropriate information to Schedule D. Complete Schedule Through Part III. Upload Form 8949 and Schedule D to the drop box for this module.
a. On July 1 of the current year, she sells her personal-use automobile for $1,500. She paid $8,000 for the automobile when she bought it on March 31, 1990.
b. On August 16 of the current year, she sells$3,100 of her York Corporation stock. She purchased the stock on March 31 of the current year for $1,600.
c. On March 15 of the current year, she sells an antique ring for $5,600. The ring was a gift from her Grandmother on January 10, 1988, when the FMV was $1,600. The ring was purchased by her Grandmother on April 2, 1979, for $1,800
d. On February 14 of the current year she purchased stock options at a cost of $850. The options were never exercised and expired on October 1 of the current year.
e. Jane has a STCL carryover of $250 from the previous year.
e. Assume Jane received a 1099-B where applicable and the basis of any items sold was not reported to the IRS.
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