complete a schedule D with the information provided

Update your 1040 form for this new information. - Complete the taxpayer information section at the top of the form - Enter the appropriate information in Part I and Part II - Check the appropriate boxes in Part III - the taxpayers have no foreign interests - Submit your Schedule D - Enter the Gain or Loss from Schedule D to Form 1040 Line 7 Joseph and Diane Smith 1580 West Street Chatham, VA 24531 Joseph and Diane are both 35 and have no dependents. If your clients receive a refund, they want the full amount refunded to them. Diane is currently pregnant and will give birth during the next tax year. Joseph-SSN:400200100Diane-SSN:200-40-8000 Joseph works as a salesman. During the current year, Joseph earned a total compensation from his job of $125,000. Following are the deductions from his pay. Diane is a nurse and earned total compensation of $45,400. Following are the deductions from her bay. Joseph and Diane have investments in stocks and have a saving account at a local bank. During the current year, they earned $1,450 in interest from the Bank of Virginia. They received qualified stock dividends of $5,950 from GE stock. They also traded in the stock market during the year and had the following results (Just enter net amounts in the proper richedule). They have no loss carryover from previous years. Joseph also owns side consulting business which he runs as a sole proprietor. He uses the cash method to account for this activity. He uses a room in his home exclusively for activities related to this business. Joseph has opted to use the simplified mothod for a deduction for the business use of his home amounting to $1,500. During the year, Joseph earned and received $12,500 from clients related to this business. His expenses were as follows: The couple have the followina additinnal ir: Note: Ignore any potential qualified business income deduction for the purposes of this project Update your 1040 form for this new information. - Complete the taxpayer information section at the top of the form - Enter the appropriate information in Part I and Part II - Check the appropriate boxes in Part III - the taxpayers have no foreign interests - Submit your Schedule D - Enter the Gain or Loss from Schedule D to Form 1040 Line 7 Joseph and Diane Smith 1580 West Street Chatham, VA 24531 Joseph and Diane are both 35 and have no dependents. If your clients receive a refund, they want the full amount refunded to them. Diane is currently pregnant and will give birth during the next tax year. Joseph-SSN:400200100Diane-SSN:200-40-8000 Joseph works as a salesman. During the current year, Joseph earned a total compensation from his job of $125,000. Following are the deductions from his pay. Diane is a nurse and earned total compensation of $45,400. Following are the deductions from her bay. Joseph and Diane have investments in stocks and have a saving account at a local bank. During the current year, they earned $1,450 in interest from the Bank of Virginia. They received qualified stock dividends of $5,950 from GE stock. They also traded in the stock market during the year and had the following results (Just enter net amounts in the proper richedule). They have no loss carryover from previous years. Joseph also owns side consulting business which he runs as a sole proprietor. He uses the cash method to account for this activity. He uses a room in his home exclusively for activities related to this business. Joseph has opted to use the simplified mothod for a deduction for the business use of his home amounting to $1,500. During the year, Joseph earned and received $12,500 from clients related to this business. His expenses were as follows: The couple have the followina additinnal ir: Note: Ignore any potential qualified business income deduction for the purposes of this project