Dernet- 11040 U.S. Individual Income Tax Return 2020 OMSN 15450074 SUNOORIN Filing Status Single Married fling jointly Married fingray MFS Head of household OH Oualifying widower) (W) Check only # yoki checked the MFS box, enter the name of your spouse you checked the HOH or CW box, enter the child's are the qualifying one box persona chia but not your prendere You need more Lame Your security number Oscar 66 Lopez Fortreturn, sonst name and middle Spouse's sodalem Lopes S 65 888 Home and you have a borons At President Election Campaig 821 in Aven Check here you or your Chyrow your contact below 2P code ping pointly, want $3 Cincin OH 45211 o go to the fund Checking box below otho For country Foreign court Forcode your tax or mund You Sous Ata me during 2020, and you receive and change or otherwise scure any financial interest in any wtul cuney? WYD No Standard Someone can you spendent H YOUR a dependent Deduction Spouse hem on parte return or you Age/Blindness You Were bomber January 2, 1956 Are bind Soon: Was bom before January 2, 1956 Is blind Dependents section Soy 14 les forcon more 11) Chid Cred for than four Ed Lap 5761928 son Doral structions SITO 24 3 2 1 and check Juan Lopez 12920465 Dach w here 1 Wages, seto Attach Fow Ah 1 2 Text Sie 2 Test 2 3a Oddvind 3b 4 Adios 4 Tamount Se pen and 5 Tablet 50 thanded Ba Sety belts Deduction Toate mount Capit Sage Altach Scheduled to check 2 # 104 100 56, The your total income 10 Auto From Son b Charitab you card deduction Sector Add 101. The dents to income 11 Ocho your addresince 12 Standard de 13 Qualidad fo 14 Added 15 15 Tas income For At Pa AN I 10 11 12 13 14 TS T040 Form 1040 (2020 Page 16 Tax (see instructions). Check if any from Form(s: 1 8814 2 . 4972 3 16 17 Amount from Schedule 2, line 3 17 18 Add lines 16 and 17 18 19 Child tax credit or credit for other dependents 19 20 Amount from Schedule 3, line 7 20 21 Add lines 19 and 20 21 22 Subtract line 21 from line 18. zero or loss, entor -- 22 23 Other taxes, including self-employment tax, from Schedule 2, line 10 23 24 Add lines 22 and 23. This is your total tax 24 25 Federal income tax withheld from Forms) W-2 250 b Formis) 1099 250 Other forms (see instructions) 250 d Add lines 25a through 250 25d 26 you have 2020 estimated tax payments and amount applied from 2019 rotum 26 Quying child 27 Earned Income credit (EIC) 27 wach Schlo you have 28 Additional child tax credit. Attach Schedule 8812 28 more 29 Om American opportunity credit from Form 8863, line 8 29 con 30 Recovery rebate credit. See Instructions 30 31 Amount from schedule 3, line 13 31 32 Add lines 27 through 31 These are your total other payments and refundable credits 32 33 Add linen 25d 26. and 32. There are your total payments 33 Refund 34 If line 33 is more than line 24, subtract line 24 from line 33. This is the amount you overpaid 34 353 Amount of line 34 you want refunded to you. I Form 8888 is attached, check here 350 Direct deposit Routing number e Type m Checking Savings Sention d Account number 36 Amount of line 34 you want applied to your 2021 estimated tax 36 Amount 37 Subtract line 33 from 24. This is the amount you owe now 37 Y Owe Note: Schedule and schedule SE merino 37 may not represent all of the taxes you owe for Fordon 2020 See Schedule 3. in 12. and its instructions for details how to pay inction 38 Estimated tik pentructions 38 Third Party Do you want to allow another person to discuss this return with the RS7 Seo Designer Instructions Yes. Complete below A No he dation na umber EN ANNAK ANAK Sign Ander per ofery, I decided there and copying the terms the best new and Delle correct complete waton of prepare the face on information of which wwny Ang Here Your Date VO WINN Jourt SNOM Hous your Kec Other ho Phar ww Dale Paid Preparer Use Only IN Find 1000 meter 10400 FACTS 1) Oscar J. and Julia L. Lopez are married and file a joint return. Oscar is self-employed as a dentist, and Julia is a college professor. Oscar and Julia have three children. The oldest is Eduardo who lives at home and attends law school full-time at the University of Cincinnati. He worked part-time during the year, earning $1,500, which he spent for his own support. Oscar and Julia provided $6,000 toward Eduardo's support (including $4,000 for Eduardo's fall tuition). They also provided over half the support of their daughter, Dora, who is a full-time student at Edgecliff College in Cincinnati. Dora worked part-time as an independent contractor during the year, earning $4,900. Dora lived at home until she was married in December of 20xx. She filed a joint return with her husband, Patrick, who earned $40,000 during the year. Juanita is the youngest and lived in the Lopez's home for the entire year. The Lopezes provide you with the following additional information: . . Oscar and Julia would like to take advantage on their return for any educational expenses paid for their children. You may assume that the educational expenses were included on Form 1098-T for the current year. And, you may assume that the prior year's Form 1098-T had both boxes 2 and 7 checked. The Lopezes do not want to contribute to the presidential election campaign. The Lopezes live at 621 Franklin Avenue, Cincinnati, OH 45211. Oscar's birthday is 3/5/1967 and SSN 333-45-6666 Julia's birthday is 4/24/1970and SSN 566-77-8888 Eduardo's birthday is 11/6/1998 and SSN 576-18-7928 Dora's birthday is 2/1/1999 and SSN 575-92-4321 Juanita's birthday is 12/12/2003 and SSN 613-97-8465 The Lopezes do not have any foreign bank accounts or trusts . . . . 2) Julia is a lecturer at Xavier University in Cincinnati, where she earned $30,000. The university withheld federal income tax of $3,375, state income tax of $900, Cincinnati city income tax of $375, $1,860 of SS tax and $435 of Medicare tax. She also worked part of the year for Delta Airlines. Delta paid her $10,000 in salary, and withheld federal income tax of $1,125, state income tax of $300, Cincinnati city income tax of $125, $620 for SS tax, and $145 for Medicare tax. NOTE: You will need to create partial Form W-2s as the supporting document. Be sure to include the employer's name and fill in the applicable income, withholding, etc. You do not need the tax ID information for the supporting form info to populate to the primary form. 3) The Lopezes received $800 of interest from State Savings Bank on a joint account. They received interest of $1,000 on City of Cincinnati bonds they bought in January with the proceeds of a loan from Third National Bank of Cincinnati. They paid interest of $1,100 on the loan. Oscar received a dividend of $540 on General Bicycle Corporation stock he owns. Julia received a dividend of $390 on Acme Clothing Corporation stock she owns. Oscar and Julia received a dividend of $865 on jointly owned stock in Maple Company. All of the dividends received in 20xx are qualifying dividends. NOTE: You will need to create partial Form 1099s as the supporting document. Be sure to include the payer's name and fill in the applicable income, withholding, etc. You do not need the tax ID information for the supporting form info to populate to the primary form. 4) Oscar practices under the name "Oscar J. Lopez, DDS." His business is located at 645 West Avenue, Cincinnati, OH 45211, and his employer identification number is 01-2222222. NOTE: For the type of business" choose "Health Care and Social Assistance Ambulatory Health Care Services." You should then be able to find the applicable business code from the drop down menu. You may also assume that Oscar did NOT make any payments requiring Form 1099. Oscar's gross receipts during the year were $111.000. Oscar uses the cash method of accounting for his business. Oscar's business expenses are as follows: a. Advertising $1,200 b. Professional dues 490 c. Professional journals 360 d. Contributions to employee benefit plans 2.000 4) Oscar practices under the name "Oscar J. Lopez, DDS." His business is located at 645 West Avenue, Cincinnati, OH 45211, and his employer identification number is 01-2222222. NOTE: For the "type of business" choose "Health Care and Social Assistance-Ambulatory Health Care Services. You should then be able to find the applicable business code from the drop down menu. You may also assume that Oscar did NOT make any payments requiring Form 1099. Oscar's gross receipts during the year were $111,000. Oscar uses the cash method of accounting for his business. Oscar's business expenses are as follows: a. Advertising $1,200 b. Professional dues 490 c. Professional journals 360 d. Contributions to employee benefit plans 2,000 e. Malpractice insurance 3,200 f. Fine for overbilling State of Ohio for work performed on welfare patient 5,000 g. Insurance on office contents 720 2 h. Interest on money borrowed to refurbish office i Accounting services ). Miscellaneous office expense k Office rent 1. Dental supplies m. Utilities and telephone n. Wages 0. Payroll taxes 600 2,100 388 12.000 7,672 3,360 30,000 2,400 h. Interest on money borrowed to refurbish office 600 1. Accounting services 2,100 1. Miscellaneous office expense 388 k. Office rent 12,000 1. Dental supplies 7,672 m. Utilities and telephone 3,360 n. Wages 30,000 o. Payroll taxes 2,400 In June, Oscar decided to refurbish his office. This project was completed and the assets placed in service on July 1. Oscar's expenditures included $8,000 for new office furniture, $6,000 for new dental equipment (seven- year recovery period), and $2,000 for a new computer. Oscar did not elect to use Section 179 immediate expensing and did not claim any bonus depreciation. 5) Julia's mother, Sarah, died on July 2, 2013, leaving Julia her entire estate. Included in the estate was Sarah's residence (325 Oak Street, Cincinnati, OH 45211). Sarah's basis in the residence was $30,000. The fair market value of the residence on July 2, 2013 was $ 155,000. The property was distributed to Julia on January 1, 2014. The Lopezes have held the property as rental property and have managed it themselves. From January 1, 2014 until June 30, 20xx, they rented the house to the same tenant. The tenant was transferred to a branch office in CA and moved out at the end of June. Since they did not want to bother finding a new tenant, Oscar and Julia sold the house on June 30, 20xx. They received $140,000 for the house and land ($15,000 for land and $125,000 is allocable to the house), less a 6 percent commission charged by the broker. They had depreciated the house using the MACRS rules and conventions applicable to residential real estate. To compute depreciation on the house, the Lopezes had allocated $15,000 of the property's basis to the land on which the house is located. The Lopezes collected rent of $1,000 a month during the six months the house was occupied during the year. They incurred the following related expenses during this period: Property insurance Property taxes Maintenance Depreciation (to be computed) $500 800 465 6) The Lopezes sold 200 shares of Capp Corporation stock on September 3, 20xx, for $42 a share (minus a $50 commission). The Lopezes received the stock from Oscar's father on June 25, 1992, as a wedding present. Oscar's father originally purchased the stock for $10 per share in 1978. 3 The stock was valued at $14.50 per share on the date of the gift. No gift tax was paid on the gift. 7) Julia is required by Xavier University to visit several high schools in the Cincinnati area to evaluate Xavier University students who are doing their practice teaching. However, she is not reimbursed for the expenses she incurs in doing this. During the spring semester (January through April, 20xx), she drove her personal automobile 6,800 miles in fulfilling this obligation. Julia drove an additional 6,700 miles during 20xx. She has been using the car since June 30 of the prior year. 8) Oscar and Julia have given you a file containing the following receipts for expenditures during the year: Medicine and drugs (net of insurance reimbursement) $ 376 Doctor and hospital bills (net of insurance reimbursement) 1.148 Medical insurance premiums withheld from Julia's paycheck ($110/month) 1,320 Penalty for underpayment of last year's state income tax 15 Real estate taxes on personal residence 4,762 Interest on home mortgage (paid to Home State Savings & Loan) 8,250 Interest on credit cards (consumer purchases) 595 Cash.contribution to St. Matthew's church 13.080 8) Oscar and Julia have given you a file containing the following receipts for expenditures during the year: Medicine and drugs (net of insurance reimbursement) $ 376 Doctor and hospital bills (net of insurance reimbursement) 1,148 Medical insurance premiums withheld from Julia's paycheck ($ 110/month) 1,320 Penalty for underpayment of last year's state income tax 15 Real estate taxes on personal residence 4,762 Interest on home mortgage (paid to Home State Savings & Loan) 8,250 Interest on credit cards (consumer purchases) 595 Cash contribution to St. Matthew's church 13,080 Payroll deductions for Julia's contributions to the United Way 150 Professional dues (Julia) 325 Professional subscriptions (Julia) 245 Fee for preparation of prior year tax return, paid April 12, 20xx 500 9) The Lopezes filed their prior year federal, state, and local returns on April 12, 20xx. They paid the following additional prior year taxes with their returns: federal income taxes of $630, state income taxes of $250, and city income taxes of $75. 10) The Lopezes made timely estimated federal income tax payments of $1.500 each quarter during 20xx. They made estimated state income tax payments of $300 each quarter and estimated city income tax payments of $160 each quarter. The Lopezes made all fourth quarter payments on December 31, 20xx. They would like to receive a refund for any overpayments. $1040 Depatment of the Treasury-Intem Reverse Service 199) U.S. Individual Income Tax Return 2020 OMB No 1545-0074 RS Us Oy-Do not write or staple in this space Filing Status Single Married filing jointly Married filing separately (MFS) Head of household (HOH) Qualifying widower) (OW) Check only If you checked the MFS box, enter the name of your spouse. If you checked the HOH Or CW box, enter the child's name if the qualifying one box. person is a child but not your dependent Your first name and middle initial Laste Your social security number I joint retum, spouse's first name and middle Initial Last name Spouse's social security number Home address number and street). If you have a P.O,box, tee instruction Apt.no Presidential Election Campaign Check here if you, or your City, town, or post office. If you have a foreign address, also complete spaces below State ZIP code spouself filing jointly, want $3 to go to this fund. Checking a box below will not change Foreign country name Foreign province/stat/county Foreign postal code your tax or refund You Spouse At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency? Yes No Standard Someone can claimYou as a dependent Ill Your spouse as a dependent Deduction Spouse itemizes on a separate return or you were a dual-status alien Age/Blindness You: Were born before January 2, 1956 Are blind Spouse: Was born before January 2, 1956 Is blind Dependents (see instructions): 12. Social security (3) Relationship 14 quities for see instruction (1) First name number Last name to you If more Child tax credit Credit for other dependent than four dependents see instructions and check here 1 Wages, salaries, tips, etc. Attach Forms) W-2 1 Attach 2a Tax-exempt interest 20 b Taxable interest 2b Sch. B 3a Qualified dividends b Ordinary dividends 3 required 4a IRA distributions 4a b Taxable amount 40 Sa Pensions and annuities 5a b Taxable amount 5b Standard ba Social security benefits ba b Taxable amount 6b Deduction for 7 Capital gain or (on). Attach Schedule of required. If not required, check here 7 Single Maresting 8 B Other income from Schedule 1, line 9 separately 312,400 9 9 Add lines 1, 2, 3, 4, 5, 6, 7, and 8. This is your total income Married in 10 Adjustments to income Jointly Qualifying From Schedule 1, line 22 10a 10b b Charitable contributions if you take the standard deduction See instructions 524.000 Head of Add lines 10a and 10b. These are your total adjustments to income 100 Food 11 11 316.650 Subtract line 10c from line 9. This is your adjusted gross income you checked 12 Standard deduction or itemized deductions from Schedule A) 12 word Standard 13 Qualified business income deduction. Attach Form 8995 or Form 8995 A 13 Deduction 14 Suttons 14 Add lines 12 and 13 15 Taxable income. Subtract line 14 from line 11 If zero or los conter 0 15 For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions ON 104000 Page 2 Fom 1040 (2020 18 Tax (see instructiona). Check if any from forma: 1 0014 4978 16 17 Amount from Schedule 2, line 3 17 18 Add lines 16 and 17 18 19 Child tax credit or credit for other dependents 19 20 Amount from Schedule 3, line 7 20 21 Add lines 19 and 20 21 22 Subtract line 21 from line 18. If zero or less, enter- 22 23 Other taxes, including self-employment tax, from Schedule 2, line 10 23 24 Add lines 22 and 23. This is your total tax 24 25 Federal income tax withheld from a Form(s) W-2 250 b Form() 1099 25b c Other forms (see instructions) 25c d Add lines 25a through 250 25d 26 you have a 26 2020 estimated tax payments and amount applied from 2019 return. qualifying child 27 Eamed income credit (EIC) 27 wachse EC you have 28 Additional child tax credit Altach Schedule 8812 28 non 29 29 Compay. American opportunity credit from Form 8863, line 8 sonstruction 30 Recovery rebate credit. See Instructions 30 31 Amount from Schedule 3, line 13 31 32 Add lines 27 through 31. These are your total other payments and refundable credits 33 Add lines 250, 26, and 32. These are your total payments 33 Refund 34 If line 33 is more than line 24, subtract line 24 from line 33. This is the amount you overpaid 34 350 Amount of line 34 you want refunded to you. If Form 8888 is attached, check here 35a Direct deposit? > Routing number Type: Checking Savings Sentructions Account number 36 Amount of line 34 you want applied to your 2021 estimated tax 36 Amount 37 Subtract line 33 from line 24. This is the amount you owe now 37 You Owe Note: Schedule Hand Schedule SE files, line 37 may not represent all of the taxes you owe for For details on 2020. See Schedule 3. line 120, and its instructions for details how to pay, se instructions 38 Estimated tax penalty (see instructions 38 Third Party Do you want to allow another person to discuss this return with the IRS? See Designee instructions Yes. Complete below Designe's Personal identification name number Sign Under penalties of peory. I declare that I have examined this return and companying schedules and statements and to the best of my knowledge and belt they are true correct and complete Declaration of prepare other than tap is based on all information of which prepover has any knowledge Here Your signature Date Your con the RS sert you andet Protection PIN enter the Jor? seint See instruction Spouse's nature ont return, both must sort Date Spouse's occupation the RS sert your spoutien Me a copy for Identity Protection Parthore yout records eina Phone no Email address Preparer's name Prepare Date PTN Check Paid Se employed Preparer Fire's Pronen Use Only Firm's address F'S EN Go to www.is.gov/Form 1000 for instructions and the latest information Form 10400 No Phone Dernet- 11040 U.S. Individual Income Tax Return 2020 OMSN 15450074 SUNOORIN Filing Status Single Married fling jointly Married fingray MFS Head of household OH Oualifying widower) (W) Check only # yoki checked the MFS box, enter the name of your spouse you checked the HOH or CW box, enter the child's are the qualifying one box persona chia but not your prendere You need more Lame Your security number Oscar 66 Lopez Fortreturn, sonst name and middle Spouse's sodalem Lopes S 65 888 Home and you have a borons At President Election Campaig 821 in Aven Check here you or your Chyrow your contact below 2P code ping pointly, want $3 Cincin OH 45211 o go to the fund Checking box below otho For country Foreign court Forcode your tax or mund You Sous Ata me during 2020, and you receive and change or otherwise scure any financial interest in any wtul cuney? WYD No Standard Someone can you spendent H YOUR a dependent Deduction Spouse hem on parte return or you Age/Blindness You Were bomber January 2, 1956 Are bind Soon: Was bom before January 2, 1956 Is blind Dependents section Soy 14 les forcon more 11) Chid Cred for than four Ed Lap 5761928 son Doral structions SITO 24 3 2 1 and check Juan Lopez 12920465 Dach w here 1 Wages, seto Attach Fow Ah 1 2 Text Sie 2 Test 2 3a Oddvind 3b 4 Adios 4 Tamount Se pen and 5 Tablet 50 thanded Ba Sety belts Deduction Toate mount Capit Sage Altach Scheduled to check 2 # 104 100 56, The your total income 10 Auto From Son b Charitab you card deduction Sector Add 101. The dents to income 11 Ocho your addresince 12 Standard de 13 Qualidad fo 14 Added 15 15 Tas income For At Pa AN I 10 11 12 13 14 TS T040 Form 1040 (2020 Page 16 Tax (see instructions). Check if any from Form(s: 1 8814 2 . 4972 3 16 17 Amount from Schedule 2, line 3 17 18 Add lines 16 and 17 18 19 Child tax credit or credit for other dependents 19 20 Amount from Schedule 3, line 7 20 21 Add lines 19 and 20 21 22 Subtract line 21 from line 18. zero or loss, entor -- 22 23 Other taxes, including self-employment tax, from Schedule 2, line 10 23 24 Add lines 22 and 23. This is your total tax 24 25 Federal income tax withheld from Forms) W-2 250 b Formis) 1099 250 Other forms (see instructions) 250 d Add lines 25a through 250 25d 26 you have 2020 estimated tax payments and amount applied from 2019 rotum 26 Quying child 27 Earned Income credit (EIC) 27 wach Schlo you have 28 Additional child tax credit. Attach Schedule 8812 28 more 29 Om American opportunity credit from Form 8863, line 8 29 con 30 Recovery rebate credit. See Instructions 30 31 Amount from schedule 3, line 13 31 32 Add lines 27 through 31 These are your total other payments and refundable credits 32 33 Add linen 25d 26. and 32. There are your total payments 33 Refund 34 If line 33 is more than line 24, subtract line 24 from line 33. This is the amount you overpaid 34 353 Amount of line 34 you want refunded to you. I Form 8888 is attached, check here 350 Direct deposit Routing number e Type m Checking Savings Sention d Account number 36 Amount of line 34 you want applied to your 2021 estimated tax 36 Amount 37 Subtract line 33 from 24. This is the amount you owe now 37 Y Owe Note: Schedule and schedule SE merino 37 may not represent all of the taxes you owe for Fordon 2020 See Schedule 3. in 12. and its instructions for details how to pay inction 38 Estimated tik pentructions 38 Third Party Do you want to allow another person to discuss this return with the RS7 Seo Designer Instructions Yes. Complete below A No he dation na umber EN ANNAK ANAK Sign Ander per ofery, I decided there and copying the terms the best new and Delle correct complete waton of prepare the face on information of which wwny Ang Here Your Date VO WINN Jourt SNOM Hous your Kec Other ho Phar ww Dale Paid Preparer Use Only IN Find 1000 meter 10400 FACTS 1) Oscar J. and Julia L. Lopez are married and file a joint return. Oscar is self-employed as a dentist, and Julia is a college professor. Oscar and Julia have three children. The oldest is Eduardo who lives at home and attends law school full-time at the University of Cincinnati. He worked part-time during the year, earning $1,500, which he spent for his own support. Oscar and Julia provided $6,000 toward Eduardo's support (including $4,000 for Eduardo's fall tuition). They also provided over half the support of their daughter, Dora, who is a full-time student at Edgecliff College in Cincinnati. Dora worked part-time as an independent contractor during the year, earning $4,900. Dora lived at home until she was married in December of 20xx. She filed a joint return with her husband, Patrick, who earned $40,000 during the year. Juanita is the youngest and lived in the Lopez's home for the entire year. The Lopezes provide you with the following additional information: . . Oscar and Julia would like to take advantage on their return for any educational expenses paid for their children. You may assume that the educational expenses were included on Form 1098-T for the current year. And, you may assume that the prior year's Form 1098-T had both boxes 2 and 7 checked. The Lopezes do not want to contribute to the presidential election campaign. The Lopezes live at 621 Franklin Avenue, Cincinnati, OH 45211. Oscar's birthday is 3/5/1967 and SSN 333-45-6666 Julia's birthday is 4/24/1970and SSN 566-77-8888 Eduardo's birthday is 11/6/1998 and SSN 576-18-7928 Dora's birthday is 2/1/1999 and SSN 575-92-4321 Juanita's birthday is 12/12/2003 and SSN 613-97-8465 The Lopezes do not have any foreign bank accounts or trusts . . . . 2) Julia is a lecturer at Xavier University in Cincinnati, where she earned $30,000. The university withheld federal income tax of $3,375, state income tax of $900, Cincinnati city income tax of $375, $1,860 of SS tax and $435 of Medicare tax. She also worked part of the year for Delta Airlines. Delta paid her $10,000 in salary, and withheld federal income tax of $1,125, state income tax of $300, Cincinnati city income tax of $125, $620 for SS tax, and $145 for Medicare tax. NOTE: You will need to create partial Form W-2s as the supporting document. Be sure to include the employer's name and fill in the applicable income, withholding, etc. You do not need the tax ID information for the supporting form info to populate to the primary form. 3) The Lopezes received $800 of interest from State Savings Bank on a joint account. They received interest of $1,000 on City of Cincinnati bonds they bought in January with the proceeds of a loan from Third National Bank of Cincinnati. They paid interest of $1,100 on the loan. Oscar received a dividend of $540 on General Bicycle Corporation stock he owns. Julia received a dividend of $390 on Acme Clothing Corporation stock she owns. Oscar and Julia received a dividend of $865 on jointly owned stock in Maple Company. All of the dividends received in 20xx are qualifying dividends. NOTE: You will need to create partial Form 1099s as the supporting document. Be sure to include the payer's name and fill in the applicable income, withholding, etc. You do not need the tax ID information for the supporting form info to populate to the primary form. 4) Oscar practices under the name "Oscar J. Lopez, DDS." His business is located at 645 West Avenue, Cincinnati, OH 45211, and his employer identification number is 01-2222222. NOTE: For the type of business" choose "Health Care and Social Assistance Ambulatory Health Care Services." You should then be able to find the applicable business code from the drop down menu. You may also assume that Oscar did NOT make any payments requiring Form 1099. Oscar's gross receipts during the year were $111.000. Oscar uses the cash method of accounting for his business. Oscar's business expenses are as follows: a. Advertising $1,200 b. Professional dues 490 c. Professional journals 360 d. Contributions to employee benefit plans 2.000 4) Oscar practices under the name "Oscar J. Lopez, DDS." His business is located at 645 West Avenue, Cincinnati, OH 45211, and his employer identification number is 01-2222222. NOTE: For the "type of business" choose "Health Care and Social Assistance-Ambulatory Health Care Services. You should then be able to find the applicable business code from the drop down menu. You may also assume that Oscar did NOT make any payments requiring Form 1099. Oscar's gross receipts during the year were $111,000. Oscar uses the cash method of accounting for his business. Oscar's business expenses are as follows: a. Advertising $1,200 b. Professional dues 490 c. Professional journals 360 d. Contributions to employee benefit plans 2,000 e. Malpractice insurance 3,200 f. Fine for overbilling State of Ohio for work performed on welfare patient 5,000 g. Insurance on office contents 720 2 h. Interest on money borrowed to refurbish office i Accounting services ). Miscellaneous office expense k Office rent 1. Dental supplies m. Utilities and telephone n. Wages 0. Payroll taxes 600 2,100 388 12.000 7,672 3,360 30,000 2,400 h. Interest on money borrowed to refurbish office 600 1. Accounting services 2,100 1. Miscellaneous office expense 388 k. Office rent 12,000 1. Dental supplies 7,672 m. Utilities and telephone 3,360 n. Wages 30,000 o. Payroll taxes 2,400 In June, Oscar decided to refurbish his office. This project was completed and the assets placed in service on July 1. Oscar's expenditures included $8,000 for new office furniture, $6,000 for new dental equipment (seven- year recovery period), and $2,000 for a new computer. Oscar did not elect to use Section 179 immediate expensing and did not claim any bonus depreciation. 5) Julia's mother, Sarah, died on July 2, 2013, leaving Julia her entire estate. Included in the estate was Sarah's residence (325 Oak Street, Cincinnati, OH 45211). Sarah's basis in the residence was $30,000. The fair market value of the residence on July 2, 2013 was $ 155,000. The property was distributed to Julia on January 1, 2014. The Lopezes have held the property as rental property and have managed it themselves. From January 1, 2014 until June 30, 20xx, they rented the house to the same tenant. The tenant was transferred to a branch office in CA and moved out at the end of June. Since they did not want to bother finding a new tenant, Oscar and Julia sold the house on June 30, 20xx. They received $140,000 for the house and land ($15,000 for land and $125,000 is allocable to the house), less a 6 percent commission charged by the broker. They had depreciated the house using the MACRS rules and conventions applicable to residential real estate. To compute depreciation on the house, the Lopezes had allocated $15,000 of the property's basis to the land on which the house is located. The Lopezes collected rent of $1,000 a month during the six months the house was occupied during the year. They incurred the following related expenses during this period: Property insurance Property taxes Maintenance Depreciation (to be computed) $500 800 465 6) The Lopezes sold 200 shares of Capp Corporation stock on September 3, 20xx, for $42 a share (minus a $50 commission). The Lopezes received the stock from Oscar's father on June 25, 1992, as a wedding present. Oscar's father originally purchased the stock for $10 per share in 1978. 3 The stock was valued at $14.50 per share on the date of the gift. No gift tax was paid on the gift. 7) Julia is required by Xavier University to visit several high schools in the Cincinnati area to evaluate Xavier University students who are doing their practice teaching. However, she is not reimbursed for the expenses she incurs in doing this. During the spring semester (January through April, 20xx), she drove her personal automobile 6,800 miles in fulfilling this obligation. Julia drove an additional 6,700 miles during 20xx. She has been using the car since June 30 of the prior year. 8) Oscar and Julia have given you a file containing the following receipts for expenditures during the year: Medicine and drugs (net of insurance reimbursement) $ 376 Doctor and hospital bills (net of insurance reimbursement) 1.148 Medical insurance premiums withheld from Julia's paycheck ($110/month) 1,320 Penalty for underpayment of last year's state income tax 15 Real estate taxes on personal residence 4,762 Interest on home mortgage (paid to Home State Savings & Loan) 8,250 Interest on credit cards (consumer purchases) 595 Cash.contribution to St. Matthew's church 13.080 8) Oscar and Julia have given you a file containing the following receipts for expenditures during the year: Medicine and drugs (net of insurance reimbursement) $ 376 Doctor and hospital bills (net of insurance reimbursement) 1,148 Medical insurance premiums withheld from Julia's paycheck ($ 110/month) 1,320 Penalty for underpayment of last year's state income tax 15 Real estate taxes on personal residence 4,762 Interest on home mortgage (paid to Home State Savings & Loan) 8,250 Interest on credit cards (consumer purchases) 595 Cash contribution to St. Matthew's church 13,080 Payroll deductions for Julia's contributions to the United Way 150 Professional dues (Julia) 325 Professional subscriptions (Julia) 245 Fee for preparation of prior year tax return, paid April 12, 20xx 500 9) The Lopezes filed their prior year federal, state, and local returns on April 12, 20xx. They paid the following additional prior year taxes with their returns: federal income taxes of $630, state income taxes of $250, and city income taxes of $75. 10) The Lopezes made timely estimated federal income tax payments of $1.500 each quarter during 20xx. They made estimated state income tax payments of $300 each quarter and estimated city income tax payments of $160 each quarter. The Lopezes made all fourth quarter payments on December 31, 20xx. They would like to receive a refund for any overpayments. $1040 Depatment of the Treasury-Intem Reverse Service 199) U.S. Individual Income Tax Return 2020 OMB No 1545-0074 RS Us Oy-Do not write or staple in this space Filing Status Single Married filing jointly Married filing separately (MFS) Head of household (HOH) Qualifying widower) (OW) Check only If you checked the MFS box, enter the name of your spouse. If you checked the HOH Or CW box, enter the child's name if the qualifying one box. person is a child but not your dependent Your first name and middle initial Laste Your social security number I joint retum, spouse's first name and middle Initial Last name Spouse's social security number Home address number and street). If you have a P.O,box, tee instruction Apt.no Presidential Election Campaign Check here if you, or your City, town, or post office. If you have a foreign address, also complete spaces below State ZIP code spouself filing jointly, want $3 to go to this fund. Checking a box below will not change Foreign country name Foreign province/stat/county Foreign postal code your tax or refund You Spouse At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency? Yes No Standard Someone can claimYou as a dependent Ill Your spouse as a dependent Deduction Spouse itemizes on a separate return or you were a dual-status alien Age/Blindness You: Were born before January 2, 1956 Are blind Spouse: Was born before January 2, 1956 Is blind Dependents (see instructions): 12. Social security (3) Relationship 14 quities for see instruction (1) First name number Last name to you If more Child tax credit Credit for other dependent than four dependents see instructions and check here 1 Wages, salaries, tips, etc. Attach Forms) W-2 1 Attach 2a Tax-exempt interest 20 b Taxable interest 2b Sch. B 3a Qualified dividends b Ordinary dividends 3 required 4a IRA distributions 4a b Taxable amount 40 Sa Pensions and annuities 5a b Taxable amount 5b Standard ba Social security benefits ba b Taxable amount 6b Deduction for 7 Capital gain or (on). Attach Schedule of required. If not required, check here 7 Single Maresting 8 B Other income from Schedule 1, line 9 separately 312,400 9 9 Add lines 1, 2, 3, 4, 5, 6, 7, and 8. This is your total income Married in 10 Adjustments to income Jointly Qualifying From Schedule 1, line 22 10a 10b b Charitable contributions if you take the standard deduction See instructions 524.000 Head of Add lines 10a and 10b. These are your total adjustments to income 100 Food 11 11 316.650 Subtract line 10c from line 9. This is your adjusted gross income you checked 12 Standard deduction or itemized deductions from Schedule A) 12 word Standard 13 Qualified business income deduction. Attach Form 8995 or Form 8995 A 13 Deduction 14 Suttons 14 Add lines 12 and 13 15 Taxable income. Subtract line 14 from line 11 If zero or los conter 0 15 For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions ON 104000 Page 2 Fom 1040 (2020 18 Tax (see instructiona). Check if any from forma: 1 0014 4978 16 17 Amount from Schedule 2, line 3 17 18 Add lines 16 and 17 18 19 Child tax credit or credit for other dependents 19 20 Amount from Schedule 3, line 7 20 21 Add lines 19 and 20 21 22 Subtract line 21 from line 18. If zero or less, enter- 22 23 Other taxes, including self-employment tax, from Schedule 2, line 10 23 24 Add lines 22 and 23. This is your total tax 24 25 Federal income tax withheld from a Form(s) W-2 250 b Form() 1099 25b c Other forms (see instructions) 25c d Add lines 25a through 250 25d 26 you have a 26 2020 estimated tax payments and amount applied from 2019 return. qualifying child 27 Eamed income credit (EIC) 27 wachse EC you have 28 Additional child tax credit Altach Schedule 8812 28 non 29 29 Compay. American opportunity credit from Form 8863, line 8 sonstruction 30 Recovery rebate credit. See Instructions 30 31 Amount from Schedule 3, line 13 31 32 Add lines 27 through 31. These are your total other payments and refundable credits 33 Add lines 250, 26, and 32. These are your total payments 33 Refund 34 If line 33 is more than line 24, subtract line 24 from line 33. This is the amount you overpaid 34 350 Amount of line 34 you want refunded to you. If Form 8888 is attached, check here 35a Direct deposit? > Routing number Type: Checking Savings Sentructions Account number 36 Amount of line 34 you want applied to your 2021 estimated tax 36 Amount 37 Subtract line 33 from line 24. This is the amount you owe now 37 You Owe Note: Schedule Hand Schedule SE files, line 37 may not represent all of the taxes you owe for For details on 2020. See Schedule 3. line 120, and its instructions for details how to pay, se instructions 38 Estimated tax penalty (see instructions 38 Third Party Do you want to allow another person to discuss this return with the IRS? See Designee instructions Yes. Complete below Designe's Personal identification name number Sign Under penalties of peory. I declare that I have examined this return and companying schedules and statements and to the best of my knowledge and belt they are true correct and complete Declaration of prepare other than tap is based on all information of which prepover has any knowledge Here Your signature Date Your con the RS sert you andet Protection PIN enter the Jor? seint See instruction Spouse's nature ont return, both must sort Date Spouse's occupation the RS sert your spoutien Me a copy for Identity Protection Parthore yout records eina Phone no Email address Preparer's name Prepare Date PTN Check Paid Se employed Preparer Fire's Pronen Use Only Firm's address F'S EN Go to www.is.gov/Form 1000 for instructions and the latest information Form 10400 No Phone