Confused on this tax return
help
II. FACT PATTERN Your client Roland Gunnerman has hired you to prepare his 2018 Federal tax return. He is single and has no dependents. He provides you with the following forms and documents: Form W-2 from his employer, reporting salary income and taxes withheld (Federal and California). Form W-2G from Belladonna Park, reporting Roland's winnings (and Federal and California taxes withheld) from his big win at the horse races. Form 1099-S from the title company that handled the settlement of the sale of his principal residence in Oxnard, California. Form 1098 for his vacation home in Adin, California, reporting mortgage interest paid (and outstanding mortgage as of the beginning of 2018). Form 1099-MISC from Madhouse.com, reporting rental income from the vacation home. Brokerage statements from Tripletime Investments (substitutes for 1099-DIV, 1099-INT and 1099-B), reporting dividends and interest received and details of stock sale transactions. Roland was born on July 3, 1972. His SSN is 567-78-8884. He has good eyesight. He does not want to contribute to the Presidential Election Campaign. He had full-year health insurance coverage during 2018. He does not own, control or manage any foreign bank accounts and is not grantor or beneficiary of a foreign trust during the tax year. Since selling his home on June 30, 2018 (see below), Roland has been living in a townhouse that he rents. It is located at 150 Vaudeville Ave., Ventura CA 93004. Roland was previously married to Tunica Tinsdale (SSN: 348-43-4556), who has not remarried. They were divorced in 2007. Xavier paid her $28,000 in alimony during 2018. (You have confirmed that the payments are properly characterized as alimony.) Roland frequently bets on horse races at Belladonna Park. He keeps a log of his winnings and losses. Form W-2G reports a $20,000 win on a 400:1 longshot. Other than that race, his total winnings were $4,000 and total losses were $13,000. In addition to California state income tax withheld from his paychecks (and from his gambling winnings), Roland also paid $400 of state income taxes with the 2017 California income tax return he filed on April 15, 2018 Roland sold his principal residence in Oxnard (1450 Capitola Lane, Oxnard CA 93030) on June 30, 2018, for $1,450,000. He owned the property free and clear, having paid for it with cash from an inheritance. He paid $6,800 in property tax in 2018, all of which was his share (i.e., none allocable to buyer). He originally bought the property on June 30, 2013, for $1,100,000. He added on a spare bedroom in 2016 at a cost of $90,000. He used the property as a second home until June 30, 2014, when he moved into the house and used it as his principal residence until the sale. Roland has owned the vacation home in Adin (2334 Skyblue Drive, Adin CA 96006) since 2012. During 2018, he stayed at the home during the ski season for a total of 30 days and let his brother stay there for free for an additional 30 days. He rented the property out (through Madhouse.com) at fair rental value for 300 days. He spent another 5 days doing maintenance on the property to keep it in good condition for rental purposes. He originally bought the property in 2012, taking out a mortgage at that time. The income and expenses (including mortgage interest reported on Form 1098) for the property were as follows: Rental income Advertising through Madhouse.com Mortgage interest (from Form 1098) Real property taxes Maintenance expense Insurance expense Utilities Depreciation $27,000 350 38,640 5,100 2,100 2,300 1,800 26,900 OMB No. 1545-0008 22222 a Employee's social security number 567-78-8884 b Employer identification number (EIN) 29-3765612 c Employer's name, address, and ZIP code Able Machinery 11409 Victory Blude Ventura, CA 93004 1 Wages, tips, other compensation 95 000.00 3 Social security wages 95.000.00 5 Medicar wages and tips 95.000.00 7 Social Security tips 2 Federal income tax withheld 15,900. 4 Social Security tax withheld 5 890.00 6 Medicare tax withheld 1,377.50 8 Allocated tips d Control number 9 Verification code 10 Dependent care benefits e Employee's first name and initial Last name Suff. 11 Nonqualified plans 13 Statutory employee Retirement plan 12h Third-party sick pay Roland Gunnerman 130 Vaudeville Ave. Ventura, CA 93004 14 Other f Employee's address and ZIP code 15 State Employer's state ID number CA 80510237 18 Local wages, tips, etc. 19 Local Income tax 20 Locality name 16 State Wages, tips, etc. 95.000 17 State income tax 5.100.00 Department of the Treasury - Internal Revenue Service Wage and Tax Form Statement Copy 1 -For State, City, or Local Tax Department 2018 OMB No. 1545-0238 O CORRECTED (if checked) PAYER'S name, street address, city or town, province or state, country, and 1 Reportable winnings ZIP or foreign postal code Belladonna Park $ 20,000-49 3 Type of wager horse racing 5 Transaction 2018 2 Date won May 12, 2018 4 Federal income tax withheld $ 4,800.00 6 Race 1000 Racetrack Blude Camarillo, CA 93010 Form W-2G Certain Gambling Winnings 7 Winnings from identical wagers 8 Cashier PAYER'S federal identification number PAYER'S telephone number 9 Winner's taxpayer identification no. 10 Window 45-1678034 805-555-4082 567-78-8884 This information is being furnished to the Internal Revenue Service WINNER'S name 11 First I.D. 12 Second I.D. Roland Gunnerman Street address (including apt. no.) 1450 Capitola Lane 13 State/Payer's state identification no. 14 State winnings CA 27997801 1. 20,000 *** 15 State income tax withheld 16 Local winnings City or town, province or state, country, and ZIP or foreign postal code Oxnard, CA 93030 Copy B Report this income on your federal tax return. If this form shows federal income tax withheld in box 4, attach this copy to your return. $ 1,400.00 17 Local income tax withheld 18 Name of locality Under penalties of perjury, I declare that, to the best of my knowledge and belief, the name, address, and taxpayer identification number that I have furnished correctly identify me as the recipient of this payment and any payments from identical wagers, and that no other person is entitled to any part of these payments. Signature Date 5-12-2018 Form W-2G www.irs.gov/w2g Department of the Treasury - Internal Revenue Service Rolor Grman Second Bankcorp 3003 Leverage Blvd Detroit, Mi 48226 CORRECTED (if checked) RECIPIENT'S/LENDER'S name, street address, city or town, state or *Caution: The amount shown mayOMB No. 1545-0901 province, country, ZIP or foreign postal code, and telephone no. not be fully deductible by you. Limits based on the loan amount Mortgage and the cost and value of the secured property may apply. Also, Interest you may only deduct interest to the extent it was incurred by you, Statement actually paid by you, and not reimbursed by another person. Fom 1098 1 Mortgage interest received from payer(s)/borrower(s) Copy B $ 38.640.0 For Payer/ RECIPIENT'S LENDER'S TIN PAYER'S/BORROWER'S TIN 2 Outstanding mortgage 3 Mortgage origination date principal as of 1/1/2018 Borrower $ 690,000 03/12/2013 The information in boxes 45-3367389 567-78-8884 4 Refund of overpaid 5 Mortgage insurance 1 through 9 is important interest premiums tax information and is being furnished to the PAYER'S/BORROWER'S name IRS. If you are required 6 Points paid on purchase of principal residence to file a return, a - Roland Gunnerman negligence penalty or other sanction may be Street address (including apt. no.) 7 If address of property securing mortgage is the same imposed on you if the as PAYER'S/BORROWER'S address, the box is checked, or IRS determines that an 130 Vaudeville Ave, the address or description is entered in box 8. underpayment of tax results because you City or town, state or province, country, and ZIP or foreign postal code 8 Addross or description of property securing mortgage (see overstated a deduction instructions) for this mortgage interest Ventura, CA 93004 or for these points, reported in boxes 1 and 9 Number of properties securing the 10 Other 2334 Skyblue Drive 6; or because you didn't mortgage report the refund of interest (box 4); or Adin, C 46006 because you Account number (see instructions) claimed a nondeductible item. - 2841-367411 Form 1098 (Keep for your records) www.irs.gov/Form1098 Department of the Treasury - Internal Revenue Service 2018 O CORRECTED (if checked) FILER'S name, street address, city or town, state or province, country, ZIP 1 Date of closing OMB No. 1545-0997 or foreign postal code, and telephone number Greater Homes Title Company June 30, 2018 Proceeds From Real 3842 Grant Street 2 Gross proceeds Estate Transactions Pasadena, CA 91116 $ 1,450,000.0* Form 1099-5 FILER'S TIN TRANSFEROR'S TIN 3 Address (including city, state, and ZIP code) or legal description Copy B 62-4894476 567-78-8684 i 450 Capitola Lane For Transferor TRANSFEROR'S name This is important tax Oxnard, CA 93030 information and is being Roland Gunnerman furnished to the IRS. If 4 Transferor received or will receive property or services you are required to file a Street address (including apt. no.) as part of the consideration (if checked) . . . U return, a negligence penalty or other 130 Vaudeville Ave. 5 If checked, transferor is a foreign person (nonresident sanction may be City or town, state or province, country, and ZIP or foreign postal code alien, foreign partnership, foreign estate, or foreign imposed on you if this trust) . . . . . . . . . . . item is required to be Ventura, CA 93004 reported and the IRS Account number (see instructions) 6 Buyer's part of real estate tax determines that it has not been reported. 21-267889 A Form 1099-5 (keep for your records) www.irs.gov/Form10995 Department of the Treasury - Internal Revenue Service CORRECTED (if checked) PAYER'S name, street address, city or town, state or province, country, ZIP 1 Rents or foreign postal code, and telephone no. OMB No. 1545-0115 $ 27,000.00 2018 Miscellaneous Income 2 Royalties Madhouse.com 347 Milview Dri Newark, NJ 07101 Form 1099-MISC 4 Federal income tax withheld 3 Other income Copy B For Recipient SS PAYER'S TIN RECIPIENT'S TIN 5 Fishing boat proceeds 6 Medical and health care payments 62-3012742 567-78-8884 7 Nonemployee compensation 8 Substitute payments in lieu of| dividends or interest RECIPIENT'S name Roland Gunnerman Street address (including apt. no.) 130 Vaudeville Ave. City or town, state or province, country, and ZIP or foreign postal code - Ventura, CA 93004 10 Crop insurance proceeds 9 Payer made direct sales of $5,000 or more of consumer products to a buyer (recipient) for resale This is important tax information and is being furnished to the IRS. If you are required to file a return, a negligence penalty or other sanction may be imposed on you if this income is taxable and the IRS determines that it has not been reported. $ Account number (see instructions) FATCA filing requirement 13 Excess golden parachute payments 14 Gross proceeds paid to an attorney 7406662 15a Section 409A deferrals 15b Section 409A income 18 State income 16 State tax withheld 17 State/Payer's state no. $ -------------------------------------------- $ Form 1099-MISC (keep for your records) www.irs.gov/Form1099MISC Department of the Treasury - Internal Revenue Service Tripletime Investments 777 Alphabet Street New York, NY 10009 Payer's Fed ID Number 40-3344557 2018 TAX REPORTING STATEMENT Roland Gunnerman 150 Vaudeville Ave, Ventura CA 93004 Recipient ID No. 567-XX-XXXX Form 1099-DIV 2018 Dividends and Distributions 2,100.00 2,100.00 1a Total Ordinary Dividends 1b Qualified Dividends 2a Total Capital Gain Distributions 2b Capital Gains that represent Unrecaptured 125 Gain 2c Capital Gains that represent Section 1202 Gain 2d Collectibles (28%) Gain 3 Nondividend Distrubutions 4 Federal Income Tax Withheld 5 Section 199A Dividends 6 Investment Expenses 7 Foreign Taxes Paid 230.00 Form 1099-INT 2018 INTEREST INCOME 1,300.00 1 Interest Income 2 Early Withdrawl Penalty 3 Interest on US Savings Bonds 4 Federal Income Tax Withheld 5 Investment Expenses 6 Foreign Tax Paid Tripletime Investments 777 Alphabet Street New York, NY 10009 Payer's Fed ID Number 40-3344557 2018 TAX REPORTING STATEMENT Roland Gunnerman 150 Vaudeville Ave, Ventura CA 93004 Recipient ID No. 567-XX-XXXX FORM 1099-B 2018 Proceeds from Broker and Barter Exchange Transactions Short-term transaction for which basis is reported to the IRS Report on Form 8949 with Box A checked Federal Income Tax Withheld State Income Tax Withheld Sales Price of Date of Sale Date of Quantity Stocks, Cost or Wash Sale Loss Action or Exchange Acquisition Sold Bonds, etc Other Basis Gain / Loss Disallowed Checkered Flag, Inc. Sale 12/10/2018 1/18/2018 120.000 13,900.00 15,000.00 (1,100.00) TOTALS 13,900.00 15,000.00 (1,100.00) Long-term transaction for which basis is reported to the IRS Report on Form 8949 with Box D checked Federal Income Tax Withheld State Inc ome Tax Withheld Sales Price of Date of Sale Date of Quantity Stocks, Cost or Wash Sale Loss Action or Exchange Acquisition Sold Bonds, etc Other Basis Gain / Loss Disallowed Bluebell Industries Sale 12/10/2018 9/3/2009 180.000 12,700.00 18,800.00 (6,100.00) Pangloss Corporation Sale 12/10/2018 4/16/2011 290.000 9,500.00 9,200.00 300.00 TOTALS 22,200.00 28,000.00 (5,800.00) II. FACT PATTERN Your client Roland Gunnerman has hired you to prepare his 2018 Federal tax return. He is single and has no dependents. He provides you with the following forms and documents: Form W-2 from his employer, reporting salary income and taxes withheld (Federal and California). Form W-2G from Belladonna Park, reporting Roland's winnings (and Federal and California taxes withheld) from his big win at the horse races. Form 1099-S from the title company that handled the settlement of the sale of his principal residence in Oxnard, California. Form 1098 for his vacation home in Adin, California, reporting mortgage interest paid (and outstanding mortgage as of the beginning of 2018). Form 1099-MISC from Madhouse.com, reporting rental income from the vacation home. Brokerage statements from Tripletime Investments (substitutes for 1099-DIV, 1099-INT and 1099-B), reporting dividends and interest received and details of stock sale transactions. Roland was born on July 3, 1972. His SSN is 567-78-8884. He has good eyesight. He does not want to contribute to the Presidential Election Campaign. He had full-year health insurance coverage during 2018. He does not own, control or manage any foreign bank accounts and is not grantor or beneficiary of a foreign trust during the tax year. Since selling his home on June 30, 2018 (see below), Roland has been living in a townhouse that he rents. It is located at 150 Vaudeville Ave., Ventura CA 93004. Roland was previously married to Tunica Tinsdale (SSN: 348-43-4556), who has not remarried. They were divorced in 2007. Xavier paid her $28,000 in alimony during 2018. (You have confirmed that the payments are properly characterized as alimony.) Roland frequently bets on horse races at Belladonna Park. He keeps a log of his winnings and losses. Form W-2G reports a $20,000 win on a 400:1 longshot. Other than that race, his total winnings were $4,000 and total losses were $13,000. In addition to California state income tax withheld from his paychecks (and from his gambling winnings), Roland also paid $400 of state income taxes with the 2017 California income tax return he filed on April 15, 2018 Roland sold his principal residence in Oxnard (1450 Capitola Lane, Oxnard CA 93030) on June 30, 2018, for $1,450,000. He owned the property free and clear, having paid for it with cash from an inheritance. He paid $6,800 in property tax in 2018, all of which was his share (i.e., none allocable to buyer). He originally bought the property on June 30, 2013, for $1,100,000. He added on a spare bedroom in 2016 at a cost of $90,000. He used the property as a second home until June 30, 2014, when he moved into the house and used it as his principal residence until the sale. Roland has owned the vacation home in Adin (2334 Skyblue Drive, Adin CA 96006) since 2012. During 2018, he stayed at the home during the ski season for a total of 30 days and let his brother stay there for free for an additional 30 days. He rented the property out (through Madhouse.com) at fair rental value for 300 days. He spent another 5 days doing maintenance on the property to keep it in good condition for rental purposes. He originally bought the property in 2012, taking out a mortgage at that time. The income and expenses (including mortgage interest reported on Form 1098) for the property were as follows: Rental income Advertising through Madhouse.com Mortgage interest (from Form 1098) Real property taxes Maintenance expense Insurance expense Utilities Depreciation $27,000 350 38,640 5,100 2,100 2,300 1,800 26,900 OMB No. 1545-0008 22222 a Employee's social security number 567-78-8884 b Employer identification number (EIN) 29-3765612 c Employer's name, address, and ZIP code Able Machinery 11409 Victory Blude Ventura, CA 93004 1 Wages, tips, other compensation 95 000.00 3 Social security wages 95.000.00 5 Medicar wages and tips 95.000.00 7 Social Security tips 2 Federal income tax withheld 15,900. 4 Social Security tax withheld 5 890.00 6 Medicare tax withheld 1,377.50 8 Allocated tips d Control number 9 Verification code 10 Dependent care benefits e Employee's first name and initial Last name Suff. 11 Nonqualified plans 13 Statutory employee Retirement plan 12h Third-party sick pay Roland Gunnerman 130 Vaudeville Ave. Ventura, CA 93004 14 Other f Employee's address and ZIP code 15 State Employer's state ID number CA 80510237 18 Local wages, tips, etc. 19 Local Income tax 20 Locality name 16 State Wages, tips, etc. 95.000 17 State income tax 5.100.00 Department of the Treasury - Internal Revenue Service Wage and Tax Form Statement Copy 1 -For State, City, or Local Tax Department 2018 OMB No. 1545-0238 O CORRECTED (if checked) PAYER'S name, street address, city or town, province or state, country, and 1 Reportable winnings ZIP or foreign postal code Belladonna Park $ 20,000-49 3 Type of wager horse racing 5 Transaction 2018 2 Date won May 12, 2018 4 Federal income tax withheld $ 4,800.00 6 Race 1000 Racetrack Blude Camarillo, CA 93010 Form W-2G Certain Gambling Winnings 7 Winnings from identical wagers 8 Cashier PAYER'S federal identification number PAYER'S telephone number 9 Winner's taxpayer identification no. 10 Window 45-1678034 805-555-4082 567-78-8884 This information is being furnished to the Internal Revenue Service WINNER'S name 11 First I.D. 12 Second I.D. Roland Gunnerman Street address (including apt. no.) 1450 Capitola Lane 13 State/Payer's state identification no. 14 State winnings CA 27997801 1. 20,000 *** 15 State income tax withheld 16 Local winnings City or town, province or state, country, and ZIP or foreign postal code Oxnard, CA 93030 Copy B Report this income on your federal tax return. If this form shows federal income tax withheld in box 4, attach this copy to your return. $ 1,400.00 17 Local income tax withheld 18 Name of locality Under penalties of perjury, I declare that, to the best of my knowledge and belief, the name, address, and taxpayer identification number that I have furnished correctly identify me as the recipient of this payment and any payments from identical wagers, and that no other person is entitled to any part of these payments. Signature Date 5-12-2018 Form W-2G www.irs.gov/w2g Department of the Treasury - Internal Revenue Service Rolor Grman Second Bankcorp 3003 Leverage Blvd Detroit, Mi 48226 CORRECTED (if checked) RECIPIENT'S/LENDER'S name, street address, city or town, state or *Caution: The amount shown mayOMB No. 1545-0901 province, country, ZIP or foreign postal code, and telephone no. not be fully deductible by you. Limits based on the loan amount Mortgage and the cost and value of the secured property may apply. Also, Interest you may only deduct interest to the extent it was incurred by you, Statement actually paid by you, and not reimbursed by another person. Fom 1098 1 Mortgage interest received from payer(s)/borrower(s) Copy B $ 38.640.0 For Payer/ RECIPIENT'S LENDER'S TIN PAYER'S/BORROWER'S TIN 2 Outstanding mortgage 3 Mortgage origination date principal as of 1/1/2018 Borrower $ 690,000 03/12/2013 The information in boxes 45-3367389 567-78-8884 4 Refund of overpaid 5 Mortgage insurance 1 through 9 is important interest premiums tax information and is being furnished to the PAYER'S/BORROWER'S name IRS. If you are required 6 Points paid on purchase of principal residence to file a return, a - Roland Gunnerman negligence penalty or other sanction may be Street address (including apt. no.) 7 If address of property securing mortgage is the same imposed on you if the as PAYER'S/BORROWER'S address, the box is checked, or IRS determines that an 130 Vaudeville Ave, the address or description is entered in box 8. underpayment of tax results because you City or town, state or province, country, and ZIP or foreign postal code 8 Addross or description of property securing mortgage (see overstated a deduction instructions) for this mortgage interest Ventura, CA 93004 or for these points, reported in boxes 1 and 9 Number of properties securing the 10 Other 2334 Skyblue Drive 6; or because you didn't mortgage report the refund of interest (box 4); or Adin, C 46006 because you Account number (see instructions) claimed a nondeductible item. - 2841-367411 Form 1098 (Keep for your records) www.irs.gov/Form1098 Department of the Treasury - Internal Revenue Service 2018 O CORRECTED (if checked) FILER'S name, street address, city or town, state or province, country, ZIP 1 Date of closing OMB No. 1545-0997 or foreign postal code, and telephone number Greater Homes Title Company June 30, 2018 Proceeds From Real 3842 Grant Street 2 Gross proceeds Estate Transactions Pasadena, CA 91116 $ 1,450,000.0* Form 1099-5 FILER'S TIN TRANSFEROR'S TIN 3 Address (including city, state, and ZIP code) or legal description Copy B 62-4894476 567-78-8684 i 450 Capitola Lane For Transferor TRANSFEROR'S name This is important tax Oxnard, CA 93030 information and is being Roland Gunnerman furnished to the IRS. If 4 Transferor received or will receive property or services you are required to file a Street address (including apt. no.) as part of the consideration (if checked) . . . U return, a negligence penalty or other 130 Vaudeville Ave. 5 If checked, transferor is a foreign person (nonresident sanction may be City or town, state or province, country, and ZIP or foreign postal code alien, foreign partnership, foreign estate, or foreign imposed on you if this trust) . . . . . . . . . . . item is required to be Ventura, CA 93004 reported and the IRS Account number (see instructions) 6 Buyer's part of real estate tax determines that it has not been reported. 21-267889 A Form 1099-5 (keep for your records) www.irs.gov/Form10995 Department of the Treasury - Internal Revenue Service CORRECTED (if checked) PAYER'S name, street address, city or town, state or province, country, ZIP 1 Rents or foreign postal code, and telephone no. OMB No. 1545-0115 $ 27,000.00 2018 Miscellaneous Income 2 Royalties Madhouse.com 347 Milview Dri Newark, NJ 07101 Form 1099-MISC 4 Federal income tax withheld 3 Other income Copy B For Recipient SS PAYER'S TIN RECIPIENT'S TIN 5 Fishing boat proceeds 6 Medical and health care payments 62-3012742 567-78-8884 7 Nonemployee compensation 8 Substitute payments in lieu of| dividends or interest RECIPIENT'S name Roland Gunnerman Street address (including apt. no.) 130 Vaudeville Ave. City or town, state or province, country, and ZIP or foreign postal code - Ventura, CA 93004 10 Crop insurance proceeds 9 Payer made direct sales of $5,000 or more of consumer products to a buyer (recipient) for resale This is important tax information and is being furnished to the IRS. If you are required to file a return, a negligence penalty or other sanction may be imposed on you if this income is taxable and the IRS determines that it has not been reported. $ Account number (see instructions) FATCA filing requirement 13 Excess golden parachute payments 14 Gross proceeds paid to an attorney 7406662 15a Section 409A deferrals 15b Section 409A income 18 State income 16 State tax withheld 17 State/Payer's state no. $ -------------------------------------------- $ Form 1099-MISC (keep for your records) www.irs.gov/Form1099MISC Department of the Treasury - Internal Revenue Service Tripletime Investments 777 Alphabet Street New York, NY 10009 Payer's Fed ID Number 40-3344557 2018 TAX REPORTING STATEMENT Roland Gunnerman 150 Vaudeville Ave, Ventura CA 93004 Recipient ID No. 567-XX-XXXX Form 1099-DIV 2018 Dividends and Distributions 2,100.00 2,100.00 1a Total Ordinary Dividends 1b Qualified Dividends 2a Total Capital Gain Distributions 2b Capital Gains that represent Unrecaptured 125 Gain 2c Capital Gains that represent Section 1202 Gain 2d Collectibles (28%) Gain 3 Nondividend Distrubutions 4 Federal Income Tax Withheld 5 Section 199A Dividends 6 Investment Expenses 7 Foreign Taxes Paid 230.00 Form 1099-INT 2018 INTEREST INCOME 1,300.00 1 Interest Income 2 Early Withdrawl Penalty 3 Interest on US Savings Bonds 4 Federal Income Tax Withheld 5 Investment Expenses 6 Foreign Tax Paid Tripletime Investments 777 Alphabet Street New York, NY 10009 Payer's Fed ID Number 40-3344557 2018 TAX REPORTING STATEMENT Roland Gunnerman 150 Vaudeville Ave, Ventura CA 93004 Recipient ID No. 567-XX-XXXX FORM 1099-B 2018 Proceeds from Broker and Barter Exchange Transactions Short-term transaction for which basis is reported to the IRS Report on Form 8949 with Box A checked Federal Income Tax Withheld State Income Tax Withheld Sales Price of Date of Sale Date of Quantity Stocks, Cost or Wash Sale Loss Action or Exchange Acquisition Sold Bonds, etc Other Basis Gain / Loss Disallowed Checkered Flag, Inc. Sale 12/10/2018 1/18/2018 120.000 13,900.00 15,000.00 (1,100.00) TOTALS 13,900.00 15,000.00 (1,100.00) Long-term transaction for which basis is reported to the IRS Report on Form 8949 with Box D checked Federal Income Tax Withheld State Inc ome Tax Withheld Sales Price of Date of Sale Date of Quantity Stocks, Cost or Wash Sale Loss Action or Exchange Acquisition Sold Bonds, etc Other Basis Gain / Loss Disallowed Bluebell Industries Sale 12/10/2018 9/3/2009 180.000 12,700.00 18,800.00 (6,100.00) Pangloss Corporation Sale 12/10/2018 4/16/2011 290.000 9,500.00 9,200.00 300.00 TOTALS 22,200.00 28,000.00 (5,800.00)
