FOOTHILL COLLEGE EDUCATIONAL 408-439-3799 November 29, 2023 Jack and Norma Jones 15 Maple Street San Jose, CA 95134 Dear Jack and Norma, Your 2022 Federal Individual Income Tax return will be electronically filed with the Internal Revenue Service upon receipt of a signed Form 8879 - IRS e-file Signature Authorization. No tax is payable with the filing of this return. You will receive a refund of $2, 587. Your 2022 California Individual Income Tax Return will be electronically filed with the FTB upon receipt of a signed Form 8879 - California e-file Signature Authorization. There is a balance due of $488. Mail your California payment voucher on or before April 18, 2023 and make your check payable to: FRANCHISE TAX BOARD P. O. BOX 942867 SACRAMENTO, CA 94267 d Please be sure to call if you DO"NOT questions . Sincerely, Instructor FoothillForm 1040 (2022) Jack and Norma Jones 614-80-2222 Page 2 Form 1040 Department of the Treasury - Internal Revenue Service U.S. Individual Income Tax Return 2022 OMB No. 1545-0074 Tax and 16 Tax (see instructions). Check if any from Form(s): 1 8814 IRS Use Only - Do not write or staple in this space. Credits 2 4972 3 Filing Status Single X Married filing jointly Married filing separately (MFS) Head of household (HOH) Qualifying surviving 16 29, 413. Check only 17 Amount from Schedule 2, line 3. . . 17 one box. If you checked the MFS box, enter the name of your spouse. If you checked the HOH or QSS box, enter the child's name if the qualifying person is a child but not your dependent: 18 Add lines 16 and 17 ... .. 18 29, 413. Your first name and middle initial Last name Your social security number 19 Child tax credit or credit for other dependents from Schedule 8812 .. 19 Jack Jones 614-80-2222 20 Amount from Schedule 3, line 8.. 20 If joint return, spouse's first name and middle initial Last name Spouse's social security number 21 Add lines 19 and 20. . 21 0. Norma Jones 18-70-3333 22 Subtract line 21 from line 18. If zero or less, enter -0- . 22 29, 413. Home address (number and street). If you have a P.O. box, see instructions. Apt. no. Presidential Election Campaign 23 Other taxes, including self-employment tax, from Schedule 2, line 21 23 15 Maple Street Check here if you, or your 24 spouse if filing jointly, want $3 24 Add lines 22 and 23. This is your total tax . 29, 413. City, town, or post office. If you have a foreign address, also complete spaces below. State ZIP code to go to this fund. Checking a Payments 25 Federal income tax withheld from: San Jose, CA 95134 box below will not change your tax or refund. a Form(s) W-2 ....... 25a 32, 000. Foreign country name Foreign province/state/county Foreign postal code You Spouse b Form(s) 1099 . . . ... 256 25c Digital c Other forms (see instructions). . . At any time during 2022, did you: (a) receive (as a reward, award, or payment for property or services); or (b) sell, Assets exchange, gift, or otherwise dispose of a digital asset (or a financial interest in a digital asset)? (See instructions.) Yes X No d Add lines 25a through 25c . 250 32, 000. Standard Someone can claim: You as a dependent Your spouse as a dependent If you have a 26 2022 estimated tax payments and amount applied from 2021 return . Deduction Spouse itemizes on a separate return or you were a dual-status alien qualifying child, attach Sch. EIC. 27 Earned income credit (EIC) . 27 Age/Blindness You: Were born before January 2, 1958 Are blind Spouse: Was born before January 2, 1958 Is blind 28 Additional child tax credit from Schedule 8812 . Dependents (see instructions): (2) Social security 3) Relationship (4) Check the box if qualifies for (see instructions): 29 American opportunity credit from Form 8863, line 8. If more (1) First name Last name number to you Child tax credit Credit for other dependents 30 Reserved for future use. .. than four dependents, 31 Amount from Schedule 3, line 15. .. .. . .... . . . . . . . . . . . . . . . . ... see instructions_ 32 Add lines 27, 28, 29, and 31. These are your total other payments and check and refundable credits . 32 here . . 33 Add lines 25d, 26, and 32. These are your total payments 32, 000. Income a Total amount from Form(s) W-2, box 1 (see instructions) . . . 188, 000 . Refund 34 If line 33 is more than line 24, subtract line 24 from line 33. This is the amount you overpaid. 2, 587 . b Household employee wages not reported on Form(s) DO NOT FILE 1b 35a Amount of line 34 you want refunded to you. If Form 8888 is attached, check here . .. . 2 , 587 . Attach Form(s) W-2 here. Also 1c Direct deposit? b Routing number. XXXXXXXXXX|Type Checking Savings attach Forms d Medicaid waiver payments not 1d See instructions d Account number. . XXXXXXXXXXXXXXXXXXXXXXXX W-2G and 1099-R if tax Taxable depe le 36 Amount of line 34 you want applied to your 2023 estimated tax. . 36 was withheld Employer-provided adoption benefits from Form 8839, line 29 . If Amount 7 Subtract line 33 from line 24. This is the amount you owe. You Owe For details on how to pay, go to www.irs.gov/Payments or see instructions. .............. |37 If you did not 1g get a Form g Wages from Form 8919, line 6. . ..... h Other earned income (see instructions) . ....... 1h 38 Estimated tax penalty (see instructions) . 38 W-2, see instructions i Nontaxable combat pay election (see instructions).... Third Party Do you want to allow another person to discuss this return with the IRS? z Add lines la through 1h. . . 1z 188, 000. Designee See instructions . . . . . X Yes. Complete below. N Attach 2a Tax-exempt interest . ....... 2a 500. b Taxable interest. 160. Designee's Phone Instructor Foothill (408) -439-3799 number (PIN) required . 3a Qualified dividends . . .... 3a 450. b Ordinary dividends 450 . Sign Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they Here re true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. 4a IRA distributions. . .... 4a b Taxable amount. . . . Your signature Date Your occupation If the IRS sent you an Identity Protection Joint return? 5a b Taxable amount. See instructions Engineer here ( see inst.) 5a Pensions and annuities . . Keep a copy for Spouse's signature. If a joint return, both must sign. Date Spouse's occupation the IRS sent your spouse an Identity 6 a Social security benefits . . 6a b Taxable amount. your records . Bookkeeper it here (see inst.) c If you elect to use the lump-sum election method, check here (see instructions) . Phone no . Email address 7 Capital gain or (loss). Attach Schedule D if required. If not required, check here . . . 7 7, 000 . Preparer's name Preparer's signature PTIN Check i Standard 8 Other income from Schedule 1, line 10.... 16, 000. Paid Self-Prepared Self-employed Deduction for - 9 Add lines 1z, 2b, 3b, 4b, 5b, 6b, 7, and 8. This is your total income. 211, 610 . Preparer Single or Use Only Firm's name Phone no. Separately, $12,950 10 Adjustments to income from Schedule 1, line 26. ... 10 Firm's address firm's EIN 11 Subtract line 10 from line 9. This is your adjusted gross income . 11 211 , 610 . jointly or surviving spous 12 Standard deduction or itemized deductions (from Schedule A) ........ 12 35, 700 . Go to www.irs.gov/Form1040 for instructions and the latest information. Form 1040 (2022) . Head of 13 Qualified business income deduction from Form 8995 or Form 8995-A . 13 household, $19,400 If you checked any 14 Add lines 12 and 13 35 , 700 . box under Standard Deduction, 15 Subtract line 14 from line 11. If zero or less, enter -0-. This is your taxable income. ....... 15 175 , 910 . BAA For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. FDIA0112L 01/11/23 Form 1040 (2022) FDIA0112L 08/03/22SCHEDULE 1 (Form 1040) Additional Income and Adjustments to Income T Attach to Form 1040, 1040-SR, or 1040-NR. Internal Revenue Service Go to www.irs.gov/Form1040 for instructions and the latest information. Page 4 of 8 OMB No. 1545-0074 2022 Attachment Sequence No. 01 Name(s) shown on Form 1040, 1040-5R, or 1030NR Jack and Norma Jones Your social security number 614-80-2222 Part| Additional Income 1 Taxable refunds, credits, or offsets of state and local income taxes. Alimony received Date of original divorce or separation agreement (see instructions): Business income or (loss). Attach Schedule G Other gains or (losses). Attach Form 4797 Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E Farm income or (loss). Attach Schedule F Unemployment compensation. Other income: Net operating loss Gambling Cancellation of debt Foreign earned income exclusion from Form 2555, Income from Form 8853. Income from Form 8889. Alaska Permanent Fund dividends Jury duty pay Prizes and awards Activity not engaged in for profit income Stock options. .. Income from the rental of personal property if you engaged in the rental for profit but were not in the business of renting such property Olympic and Paralympic medals and USOC prize money (see instructions) Section 951(a) inclusion (see instructions) Section 951A(a) inclusion (see instructions). Section 461() excess business loss adjustment Taxable distributions from an ABLE account (see instructions) Scholarship and fellowship grants not reported on Form W-2 Nontaxable amount of Medicaid waiver payments included on Form 1040, line 1a or 1d Pension or annuity from a nonqualifed deferred compensation plan or a nongovernmental section 457 plan . Wages earned while incarcerated Other income. List type and amourt: Total other income. Add lines 8a through 8z 10__Combine lines 1 through 7 and 9. Enter here and on Form 1040, 1040-SR, or 1040-NR, line 8. ... BAA For Paperwork Reduction Act Notice, see your tax return instructions. FDIADIOAL 07729122 10 16,000. Schedule 1 (Form 1040) 2022 Schedule 1 (Form 1040) 2022 Jack and Norma Jones 614-80-2222Page 2 Partll | Adjustments to Income 11 Educator expenses. 12 Certain business expenses of reservists, performing artists, and fee-basis government officials. Attach Form 2106 Health savings account deduction. Attach Form 8889 Moving expenses for members of the Armed Forces. Attach Form 3903 Deductible part of self-employment tax. Attach Schedule SE. Self-employed SEP, SIMPLE, and qualified plans Self-employed health insurance deduction Penalty on early withdrawal of savings Alimony paid Recipient's SSN.. . Date of original divorce or separation agreement (see instructions): IRA deduction Student loan interest deduction Reserved for future use Archer MSA deduction. Other adjustments: Jury duty pay (see instructions) Deductible expenses related to income reported on line 8] fr personal property engaged in for profit pib medals and Nontaxable amount of the value of Olym; -& USOC prize money reported on line 8m 0 Reforestation amortization and expenses Repayment of supplemental unemployment benefits under the Trade Act of 1974 Contributions to section 501(c)(18)(D) pension plans Contributions by certain chaplains to section 403(b) plans Attorney fees and court costs for actions involving certain unlawful discrimination claims (see instructions) Attorney fees and court costs you paid in connection with an award from the IRS for information you provided that helped the IRS detect tax law violations. Housing deduction from Form 2555 Excess deductions of section 67(e) expenses from Schedule K-1(Form 1041). Other adjustments. List type and amount: Total other adjustments. Add lines 24a through 24z Add lines 11 through 23 and 25. These are your adjustments to income. Enter here and on Form 1040 or 1040-SR, line 10, or Form 1040-NR, line 10a. 25 26 0 FDIAOIOSL 07729122 Schedule 1 (Form 1040) 2022 Page 6 of 8 SCHEDULE A Itemized Deductions OMB No. 1545-0074 SCHEDULE D OMB No. 1545-0074 (Form 1040) Go to www.irs.gov/ScheduleA for instructions and the latest information. 2022 (Form 1040) Capital Gains and Losses Department of the Treasur Attach to Form 1040 or 1040-SR. Attachment Attach to Form 1040, 1040-SR, or 1040-NR. 2022 Internal Revenue Service Caution: If you are claiming a net qualified disaster loss on Form 4684, see the instructions for line 16. Sequence No. 0 Department of the Treasury Go to www.irs.gov/ScheduleD for instructions and the latest information. Name(s) shown on Form 1040 or 1040-SR Your social security number Internal Revenue Service Use Form 8949 to list your transactions for lines 1b, 2, 3, 8b, 9, and 10. Sequence No. 12 Jack and Norma Jones 614-80-2222 Name(s) shown on return our social security number Medical Caution: Do not include expenses reimbursed or paid by others. Jack and Norma Jones 614-80-2222 and 1 Medical and dental expenses (see instructions) . 1 Did you dispose of any investment(s) in a qualified opportunity fund during the tax year? Yes X No Expenses 2 Enter amount from Form 1040 o If "Yes," attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss. 1040-SR, line 11 .............. 3 Multiply line 2 by 7.5% (0.075) . 3 Part I Short-Term Capital Gains and Losses - Generally Assets Held One Year or Less (see instructions) 4 Subtract line 3 from line 1. If line 3 is more than line 1, enter -0-. See instructions for how to figure the amounts to (h) Gain or (loss) Taxes You State and local taxes. enter on the lines below. (d) (e) iments Subtract column (e) Paid a State and local income taxes or general sales taxes. You may This form may be easier to complete if you round Proceeds Cost to gain or loss from from column (d) and sales price (or other basis) Form(s) 8949, Part I include either income taxes or general sales taxes on line 5a combine the result off cents to whole dollars. line 2, column (9) with column (g) but not both. If you elect to include general sales taxes instead of income taxes, check this box . ........ 5a 13, 500. la Totals for all short-term transactions reported on Form 1099-B for which basis was reported b State and local real estate taxes (see instructions) .... 5b 10, 000 . to the IRS and for which you have no State and local personal property taxes. . 5c 150 . adjustments (see instructions). However, if you choose to report all these d Add lines 5a through 5c. . . . . ... 5d 23, 650. transactions on Form 8949, leave this line blank and go to line 1b e Enter the smaller of line 5d or $10,000 ($5,000 if married filing separately) . ........ 5e 10, 000. 1b Totals for all transactions reported on 6 Other taxes. List type and amount: Form(s) 8949 with Box A checked. . . 6 2 Totals for all transactions reported on Form(s) 8949 with Box B checked. 7 Add lines 5e and 6 7 10, 000. Interest You 8 Home mortgage interest and points. If you didn't use all of your 3 Totals for all transactions reported on Paid home mortgage loan(s) to buy, build, or improve your home, Form(s) 8949 with Box C checked. . Caution: Your see instructions and check this box. mortgage interest deduction may Home mortgage interest and points reported to you on 4 Short-term gain from Form 6252 and short-term gain or (loss) from Forms 4684, 6781, and 8824. . . 4 be limited. See Form 1098. See instructions if limited.. instructions . b Home mortgage interest not reported to you on Form 1098. See instructions if limited. If paid to the person from whom you time 5 Net short-term gain or (loss) from partnerships, S corporations, estates, and trusts from schedules) K-1. ... bought the home, see instructions and show that Short-term capital loss carryover. Enter the amount, if any, from line so identifying no., and address. . 86 Worksheet in the instructions . ... Net short-term capital gain or (loss). combine inned name Of. Capital Pose Carryover 6 capital gains or losses, go to Part II below. Otherwise, go to Part ill on the back . column (h). If you have any long-term Part II Long-Term Capital Gains and Losses - Generally Assets Held More Than One Year (see instructions) See instructions for how to figure the amounts to (9) h) Gain or (loss) enter on the lines below. (d) (e) justments Subtract column (e) Points not reported to you on Form 1098. See instructions for special rules. This form may be easier to complete if you round Proceeds Cost to gain or loss from rom column (d) and d Reserved for future use. . . 8d off cents to whole dollars. sales price) (or other basis) Form(s) 8949, Part II line 2, column (9) combine the result with column (9) e Add lines 8a through 8c. . 23, 800. Ba Totals for all long-term transactions reported 9 Investment interest. Attach Form 4952 if required. See on Form 1099-B for which basis was reported instructions .... 9 to the IRS and for which you have no adjustments (see instructions). However, 10 Add lines 8e and 9 10 23, 800. if you choose to report all these transactions Gifts to 11 Gifts by cash or check. If you made any gift of $250 or more, on Form 8949, leave this line blank and go Charity see instructions . .... . . . .... 11 1, 900. to line 8b . . 62, 000. 55, 000 7, 000. 12 Other than by cash or check. If you made any gift of $250 or 8b Totals for all transactions reported on Caution: If you more, see instructions. You must attach Form 8283 if Form(s) 8949 with Box D checked . . got a benefit for over $500. ... 12 9 Totals for all transactions reported on see instructions. 13 Carryover from prior year . . 13 Form(s) 8949 with Box E checked . 14 Add lines 11 through 13. . 14 1, 900. 10 Totals for all transactions reported on Casualty and 15 Casualty and theft loss(es) from a federally declared disaster (other than net qualified disaster Form(s) 8949 with Box F checked. . Theft Losses losses). Attach Form 4684 and enter the amount from line 18 of that form. See instructions. . 15 11 Gain from Form 4797, Part I; long-term gain from Forms 2439 and 6252; and long-term gain or (loss) from Other 6 Other-from list in instructions. List type and amount: Forms 4684, 6781, and 8824 .. . . . . ... 11 temized Deductions 16 0 . 12 Net long-term gain or (loss) from partnerships, S corporations, estates, and trusts from Schedule(s) K-1 . . .. 12 Total 17 Add the amounts in the far right column for lines 4 through 16. Also, enter this amount on temized Form 1040 or 1040-SR, line 12. .... . . . . . . . ... 17 35, 700. 13 Capital gain distributions. See the instrs. . . . 13 Deductions 18 If you elect to itemize deductions even though they are less than your standard deduction, 14 Long-term capital loss carryover. Enter the amount, if any, from line 13 of your Capital Loss Carryover check this box . Worksheet in the instructions. . . 14 BAA For Paperwork Reduction Act Notice, see the Instructions for Form 1040. FDIA0301L 07/25/22 Schedule A (Form 1040) 2022 15 Net long-term capital gain or (loss). Combine lines 8a through 14 in column (h). Then, go to Part III on the back. . . 15 7, 000. BAA For Paperwork Reduction Act Notice, see your tax return instructions. FDIA0612L 07/18/22 Schedule D (Form 1040) 2022Schedule D (Form 1040) 2022 Jack and Norma Jones 614-80-2222 Page 2 Partlll_| Summary 16 Combine lines 7 and 15 and enter the result, o Ifline 16 is a gain, enter the amount from line 16 on Form 1040, 1040-SR, or 1040-NR, line 7. Then, go to line 17 below. Ifling 16 s a loss, skip lines 17 through 20 below. Then, go to line 21. Also be sure to complete ine Ifline 16 is zero, skip lines 17 through 21 below and enter -0- on Form 1040, 1040-SR, or T040-NR, line 7. Then, go to line 22. Are lines 15 and 16 both gains? Yes. Go o line 18. [ No. Skip tines 18 through 21, and go to line 22. If you are required to complete the 28% Rate Gain Worksheet (see instructions), enter the amount, if any, from line 7 of that worksheet If you are required to complete the Unrecaptured Section 1250 Gain Worksheet (see instructions), enter the amount, if any, from line 18 of that worksheet Are lines 18 and 19 both zero or blank and you are not filing Form 49527 Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 1040, line 16. Don't complete lines 21 and 22 below. No. Complete the Schedule D Tax Worksheet in the instructions. Don't complete fines 21 and 22 below. If line 16 is a loss, enter here and on Form 1040, 1040-SR, or 1040-NR, line 7, the smaller of: e loss on line 16; or ($3,000), or if married filing separately, ($1,500) ?\\\\ Note: When figuring which amount is smaller, treat both a\"@m& numbers. Do you have qualified dividends on Form 1 , or 1040-NR, line 3a? yes. Complete the Qualified Dividends aHd Capital Gain Tax Worksheet in the instructions for Form 1040, line 16. No. Complete the rest of Form 1040, 1040-SR, or 1040-NR. FOIAGGI2L 0718122 Schedule D (Form 1040) 2022