Complete the SCHEDULE D (Form 1040) for the following information:

Taxpayer Information

Name: John Washington

Address: 3450 Green St.

Miami, FL 54321

DOB: 5/5/1960

Filing Status: Married

SSN: 434-20-2020

Occupation: Engineer

Name: Debra Washington

Address: 3450 Green St.

Miami, FL 54321

DOB: 7/7/1962

Filing Status: Married

SSN: 411-21-4568

Occupation: Teacher

INCOME INFORMATION:

Wages and Compensation

The following information is taken from John Washingtons 2017 Form W-2 Wage and Tax Statement:

Box 1 Wages, tips, and other compensation	80,000
Box 2 Federal Withholding	12,500
Box 17 State Income Tax Withholding	2,000

The following information is taken from Debra Washingtons 2017 Form W-2 Wage and Tax Statement:

Box 1 Wages, tips, and other compensation	42,000
Box 2 Federal Withholding	3,500
Box 17 State Income Tax Withholding	750

Interest and Dividends

John had interest income from a savings account from Everest Bank of $500.00

Debra had dividend income of $550 from Blue Co. stock.

Capital Gains

John had the following stock transactions in 2017:

He sold 1,000 shares of Apex Co. for $ 12,000 on June 7, 2017, which he purchased on April 1, 2017 for 25,000

Rental Real Estate

The couple owns a rent house which he purchased on July 1, 2014. The income and expenses of the rental real estate unit are as follows:

Rental income $12,000

Property taxes $1,500

Depreciation $1,000

Repairs and Maintenance $750

Insurance $2,000

Other Transactions in 2017

1. Debra had educator expenses in 2017 of $450.00

2. John had gambling winnings of $1,000.

3. John was the beneficiary of his mothers life insurance policy.

His mother died in 2017 and he received $50,000 under this policy.

4. Debra paid $700 in student loan interest.

SCHEDULE D (Form 1040) Department of the Treasury>Information about Schedule D and its separate instructions is at Attachment Namels) shown on return Capital Gains and Losses Attach to Form 1040 or Form 1040NR. OMB No. 1545-0074 2016 Your social securitv number Short-Term Capital Gains and Losses-Assets Held One Year or Less See instructions for how to figure the amounts to enter on the lines below This form may be easier to complete if you round off cents to whole dollars. (h) Gain or (loss) Subtract column (e) from column (d) and combine the result with column Proceeds Cost Adjustments (sales(or other to gain or loss from Form(s) 8949, Part I price)basis) line 2, column (g) la Totals for all short-term transactions reported on Form 1099-B for which basis was reported to the IRS lb Totals for all transactions reported on Form(s) 8949 with Box A checked 2 Totals for all transactions reported on Form(s) 8949 with Box B checked 3 Totals for all transactions reported on Form(s) 8949 with Box C checked 4 Short-term gain from Form 6252 and short-term gain or (loss) from Forms 4684, 678, and 8824 5 Net short-term gain or (loss) from partnerships, S corporations, estates, and trusts from Schedule(s)K-1 . . 6 Short-term capital loss carryover. Enter the amount, if any, from line 8 of your Capital Loss Carryover 7 Net short-term capital gain or (loss). Combine lines la through 6 in column (h). Ifyou have any long- term capital gains or losses, go to Part II below. Otherwise, go to Part III on the back Long-Term Capital Gains and Losses-Assets Held More Than One Year See instructions for how to figure the amounts to enter on the lines below This form may be easier to 8a Totals for all long-term transactions reported on Form 1099-B for which basis was 8b Totals for all transactions reported on Form(s) 8949 with Box D checked (h) Gain or (loss) Subtract column (e) from Proceed Cost Adjustments lete if (sales(or other to gain or loss from Form(s) 8949, Part II, column (d) and combine to the IRS 9 Totals for all transactions reported on Form(s) 8949 with Box E checked 10 Totals for all transactions reported on Form(s) 8949 with Box F checked 11 Gain from Form 4797, Part I; long-term gain from Forms 2439 and 6252; and long-term I1 12 13 12 Net long-term gain or (loss) from partnerships, S corporations, estates, and trusts from 14 gain or (loss) from Forms 4684, 6781, and 8824 . Schedulels) K-1 For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 11338HSchedule D (Form 1040) 2016