hello, please see attached I need help with. I only need the 2 tax memos since I already prepared the tax forms. I need an original paper with proper references APA format. Thanks

ACC 700 Milestone Three Guidelines and Rubric The third milestone is a rough draft of the third artifact for your professional portfolio, a tax memo. The tax memo is broken up into two parts: Tax Memo I is a personal income tax preparation and Tax Memo II is a corporate tax memo. This will be graded using the rubric at the end of this document and is an opportunity for you to organize your thoughts and receive feedback from your instructor for the final submission. Note that the submission guidelines for this milestone are less demanding than those for the final submission. Once you have submitted this milestone and received feedback from your instructor, it is up to you to incorporate this feedback and complete the artifact by meeting the submission requirements found in the Final Project Guidelines and Rubric document. Client Three - Ms. Emma Shire (Tax Memo) Ms. Emma Shire is a client at S.N.H.U., LLC. Your task is to develop a comprehensive, professional tax memo and appendix for her by analyzing business and individual tax situations. Ms. Shire has questions and concerns about her personal income taxes, as well as taxes as they relate to her role in a partnership with Marlene Anderson. She also works at Clifford Co., a large organization set up as a corporation, and has questions about their tax preparation. You will work with Ms. Emma Shire to provide her with guidance on her questions related to personal, partnership, and corporate tax situations. You will need to apply income tax regulations in solving problems and recommending courses of action that will comply with regulations and, at the same time, result in the best economic solution for Ms. Emma Shire. Artifact Three: Tax Memo I Information for Personal Income Tax Preparation Ms. Shire has provided you with the following information to prepare her personal income tax return for 2014. Emma Shire lives at 5258 Mountain Skies Road, College Park, MD 20742. She is a human resource manager at Clifford Company, 896 Western Avenue, College Park, MD 20742 (employer identification number XX-1111111). She is also a 50/50 partner in a local clothing boutique. Ms. Shire is divorced and has two small children, Kelly Shire (DOB 2/3/2012) and Jordan Shire (DOB 5/19/2006). Ms. Shire was born on January 14, 1976, and her Social Security number is 123-45-6789. She does not want to contribute $3 to the Presidential Election Campaign Fund. The following information is shown on Ms. Shire's 2014 Wage and Tax Statement (Form W-2): Line 1 2 3 4 5 6 15 16 17 Description Wages, tips, other compensation Federal income tax withheld Social Security wages Social Security tax withheld Medicare wages and tips Medicare tax withheld State: Maryland State wages, tips, etc. State income tax withheld Amount $65,000.00 10,500.00 65,000.00 4,030.00 65,000.00 942.50 65,000.00 1,650.00 Additional Information: Received interest of $1,750 from Maryland Federal Savings and Loan Association and $250 from Maryland State Bank. Each financial institution reported the interest income on a Form 1099-INT Received qualified dividends of $600 from Blue Corporation, $750 from Green Corporation, and $368 from Orange Corporation. Each corporation reported dividend payments on a Form 1099-DIV. Received child support of $15,000 during the year. Received a $900 income tax refund from the state of Maryland on April 29, 2014. Reported total itemized deductions of $10,200 on 2013 federal income tax return, which included $2,200 of state income tax withheld by her employer. Received K-1 indicating her share of the clothing boutique's ordinary business income (loss) - Line 1 is $23,580. No guaranteed payments were made or dividends were received by the partnership. Acquired 100 shares of Ace Corporation common stock for $30 a share on January 12, 2014. She sold the stock on December 19 for $55 a share. Paid $1,300 for prescription medicines and $1,875 in physician and hospital bills. Medical insurance premiums were paid by her employer. Paid real property taxes of $1,675 on her personal residence and interest on her home mortgage was $4,285, and interest paid to credit card companies totaled $360. Contributed $25 each week to her church and $15 each week to United Way. Paid $1,500 in estimated federal income taxes throughout the year. Artifact Three: Tax Memo II Corporation Issue Clifford Company has encountered the following issue: The company would like to make a property distribution (dividend) of the three machines that it uses in its business. It no longer needs two of these machines. All three machines have a fair market value of $20,000 each. The basis of each machine is as follows: Machine A, $27,000; Machine B, $20,000; and Machine C, $12,000. The corporation has asked you for advice. What do you recommend? Your final portfolio artifact is the comprehensive, professional tax memo and appendix that you develop for Ms. Emma Shire, another client at S.N.H.U., LLC. As you did with the previous two artifacts, make sure to incorporate the feedback that you receive from your instructor and peers. Memo: You will justify recommendations and explain potential issues and future decisions relating to Ms. Shire's tax situations. Given that Ms. Shire is not well versed in accounting, make sure that your memo addresses her concerns in language that she can understand. Address Ms. Shire's questions pertaining to personal tax planning. Based on her given information, what actions can Ms. Shire take throughout the year to effectively reduce her tax liability? Provide specific recommendations, defend them with tax regulations, and explain the tax consequences or savings in conceptual and dollar value terms. Address Ms. Shire's questions pertaining to her partnership income. Based on the given information, what actions can Ms. Shire take throughout the year to effectively reduce her tax liability from the partnership? What are the tax consequences to Ms. Shire if she and her partner choose to change their business to a corporation? Provide specific recommendations, defend them with tax regulations, and explain the tax consequences or savings in conceptual and dollar value terms. Address Ms. Shire's questions pertaining to Clifford Co.'s tax preparation. Provide specific recommendations, defend them with tax regulations, and explain the tax consequences or savings in conceptual and dollar value terms. Supporting documents should include, but are not limited to: a completed tax return, tax schedules, and tax forms. Guidelines for Submission: Tax Memo I should be submitted as a one- to two-paragraph summary in a Microsoft Word document with double spacing, 12-point Times New Roman font, one-inch margins, and at least two sources cited in APA format. Round all answers up to the nearest dollar value in any calculations. Tax Memo II should be submitted as a one- to two-paragraph summary in a Microsoft Word document with double spacing, 12-point Times New Roman font, one-inch margins, and at least two sources cited in APA format. Note that this milestone is a rough draft and the submission guidelines are different for the final draft of the memos. Tax Memo I will be two to three pages in length and Tax Memo II will be one to two pages in length with at least three sources. Refer to the submission guidelines in the Final Project Guidelines and Rubric document. Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information, review these instructions. Critical Elements Personal Tax Planning Partnership Income Clifford Co.'s Tax Preparation Articulation of Response Proficient (100%) Identifies specific actions to reduce Ms. Shire's tax liability; provides recommendations supported with tax regulations with an explanation of the consequences or savings in conceptual terms and dollar values Identifies actions for Ms. Shire to reduce her tax liability from her partnership, includes tax consequences if Ms. Shire and her partner change to a corporation, and provides recommendations supported with tax regulations with an explanation of the consequences or savings in conceptual terms and dollar values Provides recommendations pertaining to Clifford Co.'s tax preparation supported with tax regulations and an explanation of the consequences or savings in conceptual terms and dollar values Submission has no major errors related to citations, grammar, spelling, syntax, or organization Not Proficient (0%) Does not identify specific actions to reduce Ms. Shire's tax liability; does not provide recommendations supported with tax regulations or an explanation of the consequences or savings in conceptual terms and dollar values Does not identify actions for Ms. Shire to reduce her tax liability from her partnership, include tax consequences if Ms. Shire and her partner change to a corporation, provide recommendations supported with tax regulations, or provide an explanation of the consequences or savings in conceptual terms and dollar values Does not provide recommendations pertaining to Clifford Co.'s tax preparation supported with tax regulations or an explanation of the consequences or savings in conceptual terms and dollar values Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas Earned Total Value 30 30 30 10 100% Sample Tax Memorandum Title: Requested By: Submitted By: Date Submitted: FACTS: This section should include all facts relevant to your analysis and conclusion. ISSUE(S): This section lists the tax questions that are presented in the facts. A tax researcher must analyze the facts carefully so that all of the questions or major issues are addressed. According to convention, each question should consist of one sentence. This makes questions very difficult to write. If the issue is complex, it may need to be broken down into several separate issues. CONCLUSION: Your memorandum should include a section that briefly summarizes the conclusions you have drawn from your analysis or discussion. LAW AND ANALYSIS: This section (some refer to as \"Discussion\") is the core of the memorandum. It restates each of the issues. Each question is followed by a discussion or analysis in which the writer shows how the tax law (statutes, cases, etc.) applies to the facts in the case. Each question should be answered. Tax research memorandum II Date: August 27, 2015 To: Emma Shire From: S.N.H.U. LLC Subject: Taxability of Property (Dividend) distribution by Clifford Company Summary of Facts The company is willing to make property distribution (Dividends) of three machines which are considered useless by company and each machine having FMV of $ 20,000 and cost basis Machine A $27,000; Machine B $20,000; and Machine C $12,000. Issue: What is tax treatment of such distribution in hands of company and in hands of stockholders? Analysis: As per Publication 542 of IRS, If corporation distributes property rather than cash then in such case fair market value (FMV) of property distributed is considered as amount that is distributed. If FMV of property distributed is higher than cost basis then the corporation must recognize it as constructive sale and difference between FMV and tax basis is profit and will be added to current E & P. But on the other hand if FMV is less than tax basis of property distributed, then it cannot be recognized as loss. Therefore the company has to recognize profit on distribution of Machine C $ 8,000 (20,000- 12,000). On the other hand for the stockholders receiving property tax basis of property will be FMV of property and not tax basis for company so for stockholders receiving Machine A, B and C tax basis will be $20,000 for each machine. Thanks References www.irs.gov/pub/irs-pdf/p542.pdf http://thismatter.com/money/tax/corporate-distributions.htm Tax research memorandum II Date: August 27, 2015 To: Emma Shire From: S.N.H.U. LLC Subject: Personal Tax Planning Summary of facts: Emma Shire, single head of family having two dependent children receiving wages from Clifford Company and partner in clothing boutique, received during 2014 wages $65,000; interest $2,000; qualified dividend $1,718; child support $15,000 and income tax refund $900. She also earned short term capital gain on sale of 100 shares amounting to $2,500. She also has itemized deductions and payment of estimated federal income tax. Issues: Reporting for tax for the year 2014 and tax planning for future. Analysis: Federal Tax return Form 1040 for the year 2014 prepared along with schedules A, B, C, D, E and Form 8949 and tax liability comes $1,919. As per publication 504 of IRS children maintenance received is not taxable at all. There is Short Term capital gain of $2,500 on sale of shares as shares are held for a period of less than 12 months and is taxed at normal rates of federal income tax which are in tax bracket of 25% and tax payable on it comes $625. The shares are held for a period of 11month and 7 days. If shares were sold after 12 months then it would have been long term capital gain taxable @ 15% and tax would have been$375 and tax of $250 could be saved. Therefore Emma Shire should plan for long term capital gain rather than short term capital gain. Income Tax refund of last year $900 is totally taxable. Interests received are also taxable $2,000 but if this investment was made in US government approved securities then it would have been exempt from Tax. References http://www.irs.gov/Help-&-Resources/Tools-&-FAQs/FAQs-for-Individuals/Frequently-AskedTax-Questions-&-Answers/Interest,-Dividends,-Other-Types-of-Income/Alimony,-ChildSupport,-Court-Awards,-Damages/Alimony,-Child-Support,-Court-Awards,-Damages-1 http://www.irs.gov/pub/irs-pdf/i1065sk1.pdf Parez W. retrieved from http://taxes.about.com/od/Federal-Income-Taxes/fl/Federal-Income-TaxRates-for-the-Year-2014.htm Tax research memorandum II Date: may20,2017 To: Emma Shire From: S.N.H.U. LLC Subject: Personal Tax Planning Summary of facts: Emma Shire, single head of family having two ward youngsters accepting wages from Clifford Company and accomplice in dress boutique, gotten amid 2014 wages $65,000; intrigue $2,000; qualified profit $1,718; tyke bolster $15,000 and wage impose discount $900. She additionally earned here and now capital pick up marked down of 100 offers adding up to $2,500. She additionally has separated reasonings and installment of evaluated government wage impose. Issues: Revealing for duty for the year 2014 and assess making arrangements for future. Investigation: Government Tax return Form 1040 for the year 2014 arranged alongside calendars A, B, C, D, E and Form 8949 and impose risk comes $1,919. According to production 504 of IRS youngsters upkeep got is not assessable by any means. There is Short Term capital pick up of $2,500 at a bargain of offers as offers are held for a time of under 12 months and is exhausted at ordinary rates of government pay charge which are in assessment section of 25% and duty payable on it comes $625. The offers are held for a time of 11month and 7 days. In the event that offers were sold following 12 months then it would have been long haul capital increase assessable @ 15% and expense would have been$375 and duty of $250 could be spared. In this way Emma Shire ought to anticipate long haul capital pick up as opposed to here and now capital pick up. Pay Tax discount of a year ago $900 is absolutely assessable. Premiums got are additionally assessable $2,000 yet in the event that this venture was made in US government affirmed securities then it would have been absolved from Tax. References http://www.irs.gov/Help-&-Resources/Tools-&-FAQs/FAQs-for-Individuals/Frequently-AskedTax-Questions-&-Answers/Interest,-Dividends,-Other-Types-of-Income/Alimony,-ChildSupport,-Court-Awards,-Damages/Alimony,-Child-Support,-Court-Awards,-Damages-1 http://www.irs.gov/pub/irs-pdf/i1065sk1.pdf Parez W. retrieved from http://taxes.about.com/od/Federal-Income-Taxes/fl/Federal-Income-TaxRates-for-the-Year-2014.htm Tax research memorandum II Date: August 27, 2015 To: Emma Shire From: S.N.H.U. LLC Subject: Taxability of Property (Dividend) distribution by Clifford Company Summary of Facts The company is willing to make property distribution (Dividends) of three machines which are considered useless by company and each machine having FMV of $ 20,000 and cost basis Machine A $27,000; Machine B $20,000; and Machine C $12,000. Issue: What is tax treatment of such distribution in hands of company and in hands of stockholders? Analysis: As per Publication 542 of IRS, If corporation distributes property rather than cash then in such case fair market value (FMV) of property distributed is considered as amount that is distributed. If FMV of property distributed is higher than cost basis then the corporation must recognize it as constructive sale and difference between FMV and tax basis is profit and will be added to current E & P. But on the other hand if FMV is less than tax basis of property distributed, then it cannot be recognized as loss. Therefore the company has to recognize profit on distribution of Machine C $ 8,000 (20,000- 12,000). On the other hand for the stockholders receiving property tax basis of property will be FMV of property and not tax basis for company so for stockholders receiving Machine A, B and C tax basis will be $20,000 for each machine. Thanks References www.irs.gov/pub/irs-pdf/p542.pdf http://thismatter.com/money/tax/corporate-distributions.htm Tax research memorandum II Date: August 27, 2015 To: Emma Shire From: S.N.H.U. LLC Subject: Personal Tax Planning Summary of facts: Emma Shire, single head of family having two dependent children receiving wages from Clifford Company and partner in clothing boutique, received during 2014 wages $65,000; interest $2,000; qualified dividend $1,718; child support $15,000 and income tax refund $900. She also earned short term capital gain on sale of 100 shares amounting to $2,500. She also has itemized deductions and payment of estimated federal income tax. Issues: Reporting for tax for the year 2014 and tax planning for future. Analysis: Federal Tax return Form 1040 for the year 2014 prepared along with schedules A, B, C, D, E and Form 8949 and tax liability comes $1,919. As per publication 504 of IRS children maintenance received is not taxable at all. There is Short Term capital gain of $2,500 on sale of shares as shares are held for a period of less than 12 months and is taxed at normal rates of federal income tax which are in tax bracket of 25% and tax payable on it comes $625. The shares are held for a period of 11month and 7 days. If shares were sold after 12 months then it would have been long term capital gain taxable @ 15% and tax would have been$375 and tax of $250 could be saved. Therefore Emma Shire should plan for long term capital gain rather than short term capital gain. Income Tax refund of last year $900 is totally taxable. Interests received are also taxable $2,000 but if this investment was made in US government approved securities then it would have been exempt from Tax. References http://www.irs.gov/Help-&-Resources/Tools-&-FAQs/FAQs-for-Individuals/Frequently-AskedTax-Questions-&-Answers/Interest,-Dividends,-Other-Types-of-Income/Alimony,-ChildSupport,-Court-Awards,-Damages/Alimony,-Child-Support,-Court-Awards,-Damages-1 http://www.irs.gov/pub/irs-pdf/i1065sk1.pdf Parez W. retrieved from http://taxes.about.com/od/Federal-Income-Taxes/fl/Federal-Income-TaxRates-for-the-Year-2014.htm Form 1040 2014 (99) Department of the TreasuryInternal Revenue Service U.S. Individual Income Tax Return For the year Jan. 1-Dec. 31, 2014, or other tax year beginning Your first name and initial Last name Emma Shire OMB No. 1545-0074 , 2014, ending IRS Use OnlyDo not write or staple in this space. See separate instructions. , 20 Your social security number 1 2 3 4 5 6 7 8 9 Spouse's social security number Last name If a joint return, spouse's first name and initial Apt. no. Home address (number and street). If you have a P.O. box, see instructions. 5258,Mountain skies Road City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Presidential Election Campaign Check here if you, or your spouse if filing jointly, want $3 to go to this fund. Checking Foreign postal code a box below will not change your tax or refund. You Spouse College park, MD 20742 Foreign country name Filing Status Check only one box. Exemptions Foreign province/state/county 1 6a b Income Attach Form(s) W-2 here. Also attach Forms W-2G and 1099-R if tax was withheld. If you did not get a W-2, see instructions. Adjusted Gross Income child's name here. 5 Spouse . Dependents: . . . . . . . . . . . (2) Dependent's social security number Last name . . . . . . . . Daughter Son Total number of exemptions claimed . . . . . . . . . . . } (4) if child under age 17 qualifying for child tax credit (see instructions) (3) Dependent's relationship to you Kelly Shire Jordan Shire did not live with you due to divorce or separation (see instructions) . . . . . . . . . . . . . . . . . 7 65000 . 8b . . . . . . . . . 8a 2000 . . . . . . . 9a . . 1718 . . . . . . 10 11 . . . . Taxable interest. Attach Schedule B if required . Tax-exempt interest. Do not include on line 8a . Ordinary dividends. Attach Schedule B if required . . . . . . . . . 10 11 Qualified dividends . . . . . . . . . . . 9b Taxable refunds, credits, or offsets of state and local income taxes Alimony received . . . . . . . . . . . . . . . 12 13 14 Business income or (loss). Attach Schedule C or C-EZ . . . . . . . . . Capital gain or (loss). Attach Schedule D if required. If not required, check here Other gains or (losses). Attach Form 4797 . . . . . . . . . . . . . 15a 16a 17 IRA distributions . 15a b Taxable amount . . . Pensions and annuities 16a b Taxable amount . . . Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E 15b 16b 17 18 19 20a Farm income or (loss). Attach Schedule F . Unemployment compensation . . . . Social security benefits 20a 18 19 20b 21 22 Other income. List type and amount Combine the amounts in the far right column for lines 7 through 21. This is your total income 23 Educator expenses 24 Certain business expenses of reservists, performing artists, and fee-basis government officials. Attach Form 2106 or 2106-EZ 25 Health savings account deduction. Attach Form 8889 . 24 25 26 27 28 Moving expenses. Attach Form 3903 . . . . . . Deductible part of self-employment tax. Attach Schedule SE . Self-employed SEP, SIMPLE, and qualified plans . . 26 27 28 29 30 31a Self-employed health insurance deduction Penalty on early withdrawal of savings . . . . . . . . . . 32 33 34 Alimony paid b Recipient's SSN IRA deduction . . . . . . . Student loan interest deduction . . Tuition and fees. Attach Form 8917 . 29 30 31a . . . . . . . . . . . . 32 33 34 35 36 37 Domestic production activities deduction. Attach Form 8903 35 Add lines 23 through 35 . . . . . . . . . . . . . Subtract line 36 from line 22. This is your adjusted gross income . . . . . . . . . . . . . . Add numbers on lines above . Wages, salaries, tips, etc. Attach Form(s) W-2 . . . . . . . . . 2 Dependents on 6c not entered above . 8a b 9a . . Boxes checked on 6a and 6b No. of children on 6c who: lived with you . 7 b Qualifying widow(er) with dependent child Yourself. If someone can claim you as a dependent, do not check box 6a . (1) First name d Head of household (with qualifying person). (See instructions.) If the qualifying person is a child but not your dependent, enter this Married filing separately. Enter spouse's SSN above and full name here. c If more than four dependents, see instructions and check here 4 Single Married filing jointly (even if only one had income) 2 3 Make sure the SSN(s) above and on line 6c are correct. . . . . . . . . . . . . . . . . b Taxable amount . . . . . . . . . . . 2 900 12 13 14 2500 23580 21 22 93980 23 . . For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. . . . . . . . . . 36 37 Cat. No. 11320B 93980 Form 1040 (2014) Page 2 Form 1040 (2014) 38 Amount from line 37 (adjusted gross income) Tax and Credits 39a Check if: Standard Deduction for People who check any box on line 39a or 39b or who can be claimed as a dependent, see instructions. All others: Single or Married filing separately, $6,200 Married filing jointly or Qualifying widow(er), $12,400 Head of household, $9,100 Other Taxes Payments If you have a qualifying child, attach Schedule EIC. Sign Here Paid Preparer Use Only . You were born before January 2, 1950, Spouse was born before January 2, 1950, . . Blind. Blind. . } . . . . . . 39b 42 43 Exemptions. If line 38 is $152,525 or less, multiply $3,950 by the number on line 6d. Otherwise, see instructions Taxable income. Subtract line 42 from line 41. If line 42 is more than line 41, enter -0- . . Form 4972 c Tax (see instructions). Check if any from: a Form(s) 8814 b 44 45 46 47 48 49 50 51 52 53 54 55 56 57 Alternative minimum tax (see instructions). Attach Form 6251 . Excess advance premium tax credit repayment. Attach Form 8962 . . . . . . . . . . . . . 48 . . . . . . 52 Residential energy credits. Attach Form 5695 . . . . 53 3800 b 8801 c Other credits from Form: a 54 Add lines 48 through 54. These are your total credits . . . . . Subtract line 55 from line 47. If line 55 is more than line 47, enter -0- . . . . . . . . . . . . . Self-employment tax. Attach Schedule SE . . . . . . . 8919 . . Additional tax on IRAs, other qualified retirement plans, etc. Attach Form 5329 if required . . . . . . . . . . . . . . . 58 59 60a Unreported social security and Medicare tax from Form: a b 61 First-time homebuyer credit repayment. Attach Form 5405 if required 62 63 Form 8960 c Taxes from: a Form 8959 b Add lines 56 through 62. This is your total tax . . 67 68 69 70 71 72 75 76a . . . Household employment taxes from Schedule H . . . . . . . . . b 4137 . . . . . . . . . . . . . . . . . . . Instructions; enter code(s) . . . . . . . . . . . 64 Federal income tax withheld from Forms W-2 and 1099 . . 10500 2014 estimated tax payments and amount applied from 2013 return 65 1500 Earned income credit (EIC) . . . . . . . . . . 66a Nontaxable combat pay election 66b Additional child tax credit. Attach Schedule 8812 . . . . 67 American opportunity credit from Form 8863, line 8 . Net premium tax credit. Attach Form 8962 . . . . Amount paid with request for extension to file . . . . . . . . . 68 69 70 . 71 72 Credits from Form: a 2439 b Reserved c Reserved d 73 Add lines 64, 65, 66a, and 67 through 73. These are your total payments . Excess social security and tier 1 RRTA tax withheld Credit for federal tax on fuels. Attach Form 4136 . . . . . . 40 41 42 85940 7900 43 78040 44 45 46 47 13919 8040 13919 55 56 57 13919 58 59 60a 60b Full-year coverage Health care: individual responsibility (see instructions) 93980 49 50 51 Credit for child and dependent care expenses. Attach Form 2441 Education credits from Form 8863, line 19 . . . . . Retirement savings contributions credit. Attach Form 8880 Child tax credit. Attach Schedule 8812, if required . . . . 64 65 66a b . . . . Add lines 44, 45, and 46 . . . . . . . Foreign tax credit. Attach Form 1116 if required . 38 Total boxes checked 39a . . 61 62 63 . . . . . . If line 74 is more than line 63, subtract line 63 from line 74. This is the amount you overpaid 74 12000 75 Amount of line 75 you want refunded to you. If Form 8888 is attached, check here . 76a c Type: Routing number Checking Savings Account number Amount of line 75 you want applied to your 2015 estimated tax 77 77 78 Amount you owe. Subtract line 74 from line 63. For details on how to pay, see instructions 78 79 Estimated tax penalty (see instructions) . . . . . . . 79 Do you want to allow another person to discuss this return with the IRS (see instructions)? Yes. Complete below. b d 1919 No Personal identification number (PIN) Phone no. Designee's name 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 are true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Your signature Date Your occupation Daytime phone number Spouse's signature. If a joint return, both must sign. Date Spouse's occupation If the IRS sent you an Identity Protection PIN, enter it here (see inst.) PTIN Check if self-employed Joint return? See instructions. Keep a copy for your records. . Itemized deductions (from Schedule A) or your standard deduction (see left margin) Subtract line 40 from line 38 . . . . . . . . . . . . . . . . . Third Party Designee . 40 41 Direct deposit? See instructions. Amount You Owe . If your spouse itemizes on a separate return or you were a dual-status alien, check here b 73 74 Refund { . Print/Type preparer's name Firm's name Preparer's signature Date Firm's EIN Firm's address Phone no. www.irs.gov/form1040 Form 1040 (2014) SCHEDULE A (Form 1040) OMB No. 1545-0074 Itemized Deductions Department of the Treasury Internal Revenue Service (99) Information about Schedule A and its separate instructions is at www.irs.gov/schedulea. Attach to Form 1040. Name(s) shown on Form 1040 Medical and Dental Expenses Taxes You Paid Interest You Paid Note. Your mortgage interest deduction may be limited (see instructions). Caution. Do not include expenses reimbursed or paid by others. 1 Medical and dental expenses (see instructions) . . . . . 1 2 Enter amount from Form 1040, line 38 2 93980 3 Multiply line 2 by 10% (.10). But if either you or your spouse was 3 born before January 2, 1950, multiply line 2 by 7.5% (.075) instead 4 Subtract line 3 from line 1. If line 3 is more than line 1, enter -0- . . 5 State and local (check only one box): a Income taxes, or . . . . . . . . . . . 5 b General sales taxes 6 Real estate taxes (see instructions) . . . . . . . . . 6 7 Personal property taxes . . . . . . . . . . . . . 7 8 Other taxes. List type and amount 8 9 Add lines 5 through 8 . . . . . . . . . . . . . . . . 10 Home mortgage interest and points reported to you on Form 1098 10 11 Home mortgage interest not reported to you on Form 1098. If paid to the person from whom you bought the home, see instructions and show that person's name, identifying no., and address 3175 9398 . . . . . . 4 0 9 1675 15 4285 2080 } 11 12 Points not reported to you on Form 1098. See instructions for special rules . . . . . . . . . . . . . . . . . 12 13 Mortgage insurance premiums (see instructions) . . . . . 13 14 Investment interest. Attach Form 4952 if required. (See instructions.) 14 15 Add lines 10 through 14 . . . . . . . . . . . . . . . Gifts to 16 Gifts by cash or check. If you made any gift of $250 or more, see instructions . . . . . . . . . . . . . . . . 16 Charity 17 Other than by cash or check. If any gift of $250 or more, see If you made a gift and got a instructions. You must attach Form 8283 if over $500 . . . 17 benefit for it, 18 Carryover from prior year . . . . . . . . . . . . 18 see instructions. 19 Add lines 16 through 18 . . . . . . . . . . . . . . . Casualty and Theft Losses 2014 Attachment Sequence No. 07 Your social security number 20 Casualty or theft loss(es). Attach Form 4684. (See instructions.) . . 1675 . . . . . . 4285 . . . . . . 2080 . . . . . . 19 . . . . . . 20 . . . . . 27 Job Expenses 21 Unreimbursed employee expensesjob travel, union dues, and Certain job education, etc. Attach Form 2106 or 2106-EZ if required. Miscellaneous 21 (See instructions.) Deductions 22 Tax preparation fees . . . . . . . . . . . . . 22 23 Other expensesinvestment, safe deposit box, etc. List type and amount Other Miscellaneous Deductions 24 25 26 27 28 23 Add lines 21 through 23 . . . . . . . . . . . . 24 Enter amount from Form 1040, line 38 25 Multiply line 25 by 2% (.02) . . . . . . . . . . . 26 Subtract line 26 from line 24. If line 26 is more than line 24, enter -0- . Otherfrom list in instructions. List type and amount 28 29 Is Form 1040, line 38, over $152,525? Total No. Your deduction is not limited. Add the amounts in the far right column Itemized for lines 4 through 28. Also, enter this amount on Form 1040, line 40. Deductions } . Yes. Your deduction may be limited. See the Itemized Deductions Worksheet in the instructions to figure the amount to enter. 30 If you elect to itemize deductions even though they are less than your standard deduction, check here . . . . . . . . . . . . . . . . . . . For Paperwork Reduction Act Notice, see Form 1040 instructions. Cat. No. 17145C . 29 8040 Schedule A (Form 1040) 2014 SCHEDULE B Department of the Treasury Internal Revenue Service (99) OMB No. 1545-0074 Interest and Ordinary Dividends (Form 1040A or 1040) Information Attach to Form 1040A or 1040. about Schedule B and its instructions is at www.irs.gov/scheduleb. Name(s) shown on return 2014 Attachment Sequence No. 08 Your social security number Emma Shire Part I 123-45-6789 1 Interest Maryland Federal Saving Maryland State Bank (See instructions on back and the instructions for Form 1040A, or Form 1040, line 8a.) Note. If you received a Form 1099-INT, Form 1099-OID, or substitute statement from a brokerage firm, list the firm's name as the payer and enter the total interest shown on that form. Part II Amount List name of payer. If any interest is from a seller-financed mortgage and the buyer used the property as a personal residence, see instructions on back and list this interest first. Also, show that buyer's social security number and address 1750 250 1 2 3 Add the amounts on line 1 . . . . . . . . . . Excludable interest on series EE and I U.S. savings Attach Form 8815 . . . . . . . . . . . . . 4 Subtract line 3 from line 2. Enter the result here and 1040, line 8a . . . . . . . . . . . . . . Note. If line 4 is over $1,500, you must complete Part III. List name of payer 5 . . . . . . . . bonds issued after 1989. . . . . . . . . on Form 1040A, or Form . . . . . . . . 2 2000 3 0 4 2000 Amount Ordinary Dividends (See instructions on back and the instructions for Form 1040A, or Form 1040, line 9a.) Note. If you received a Form 1099-DIV or substitute statement from a brokerage firm, list the firm's name as the payer and enter the ordinary dividends shown on that form. Part III Foreign Accounts and Trusts (See instructions on back.) 5 6 Add the amounts on line 5. Enter the total here and on Form 1040A, or Form 6 1040, line 9a . . . . . . . . . . . . . . . . . . . . . . Note. If line 6 is over $1,500, you must complete Part III. You must complete this part if you (a) had over $1,500 of taxable interest or ordinary dividends; (b) had a foreign account; or (c) received a distribution from, or were a grantor of, or a transferor to, a foreign trust. 7a Yes No At any time during 2014, did you have a financial interest in or signature authority over a financial account (such as a bank account, securities account, or brokerage account) located in a foreign country? See instructions . . . . . . . . . . . . . . . . . . . . . . . . If \"Yes,\" are you required to file FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), to report that financial interest or signature authority? See FinCEN Form 114 and its instructions for filing requirements and exceptions to those requirements . . . . . . b If you are required to file FinCEN Form 114, enter the name of the foreign country where the financial account is located 8 During 2014, did you receive a distribution from, or were you the grantor of, or transferor to, a foreign trust? If \"Yes,\" you may have to file Form 3520. See instructions on back . . . . . . For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 17146N Schedule B (Form 1040A or 1040) 2014 Page 2 Schedule B (Form 1040A or 1040) 2014 General Instructions Section references are to the Internal Revenue Code unless otherwise noted. Future Developments For the latest information about developments related to Schedule B (Form 1040A or 1040) and its instructions, such as legislation enacted after they were published, go to www.irs.gov/scheduleb. Purpose of Form Use Schedule B if any of the following applies. You had over $1,500 of taxable interest or ordinary dividends. You received interest from a seller-financed mortgage and the buyer used the property as a personal residence. You have accrued interest from a bond. You are reporting original issue discount (OID) in an amount less than the amount shown on Form 1099-OID. You are reducing your interest income on a bond by the amount of amortizable bond premium. You are claiming the exclusion of interest from series EE or I U.S. savings bonds issued after 1989. You received interest or ordinary dividends as a nominee. You had a financial interest in, or signature authority over, a financial account in a foreign country or you received a distribution from, or were a grantor of, or transferor to, a foreign trust. Part III of the schedule has questions about foreign accounts and trusts. Specific Instructions You can list more than one payer on each entry space for lines 1 and 5, but be sure to clearly show the amount paid next to the payer's name. Add the separate amounts paid by the payers listed on an entry space and enter the total in the \"Amount\" column. If you still need more space, attach separate statements that are the same size as the printed schedule. Use the same format as lines 1 and 5, but show your totals on Schedule B. Be sure to put your name and social security number (SSN) on the statements and attach them at the end of your return. TIP Part I. Interest Line 1. Report on line 1 all of your taxable interest. Taxable interest should be shown on your Forms 1099-INT, Forms 1099-OID, or substitute statements. Include interest from series EE, H, HH, and I U.S. savings bonds. List each payer's name and show the amount. Do not report on this line any tax-exempt interest from box 8 or box 9 of Form 1099-INT. Instead, report the amount from box 8 on line 8b of Form 1040A or 1040. If an amount is shown in box 9 of Form 1099-INT, you generally must report it on line 12 of Form 6251. See the Instructions for Form 6251 for more details. Seller-financed mortgages. If you sold your home or other property and the buyer used the property as a personal residence, list first any interest the buyer paid you on a mortgage or other form of seller financing. Be sure to show the buyer's name, address, and SSN. You must also let the buyer know your SSN. If you do not show the buyer's name, address, and SSN, or let the buyer know your SSN, you may have to pay a $50 penalty. Nominees. If you received a Form 1099-INT that includes interest you received as a nominee (that is, in your name, but the interest actually belongs to someone else), report the total on line 1. Do this even if you later distributed some or all of this income to others. Under your last entry on line 1, put a subtotal of all interest listed on line 1. Below this subtotal, enter "Nominee Distribution" and show the total interest you received as a nominee. Subtract this amount from the subtotal and enter the result on line 2. If you received interest as a nominee, you must give the actual owner a Form 1099-INT unless the owner is your spouse. You must also file a Form 1096 and a Form 1099-INT with the IRS. For more details, see the General Instructions for Certain Information Returns and the Instructions for Forms 1099-INT and 1099-OID. TIP Accrued interest. When you buy bonds between interest payment dates and pay accrued interest to the seller, this interest is taxable to the seller. If you received a Form 1099 for interest as a purchaser of a bond with accrued interest, follow the rules earlier under Nominees to see how to report the accrued interest. But identify the amount to be subtracted as \"Accrued Interest.\" Original issue discount (OID). If you are reporting OID in an amount less than the amount shown on Form 1099-OID, follow the rules earlier under Nominees to see how to report the OID. But identify the amount to be subtracted as \"OID Adjustment.\" Amortizable bond premium. If you are reducing your interest income on a bond by the amount of amortizable bond premium, follow the rules earlier under Nominees to see how to report the interest. But identify the amount to be subtracted as \"ABP Adjustment.\" Line 3. If, during 2014, you cashed series EE or I U.S. savings bonds issued after 1989 and you paid qualified higher education expenses for yourself, your spouse, or your dependents, you may be able to exclude part or all of the interest on those bonds. See Form 8815 for details. Part II. Ordinary Dividends You may have to file Form 5471 if, in 2014, you were an officer or director of a foreign corporation. You may also have to file Form 5471 if, in 2014, you owned 10% or more of the total (a) value of a foreign corporation's stock, or (b) combined voting power of all classes of a foreign corporation's stock with voting rights. For details, see Form 5471 and its instructions. TIP Line 5. Report on line 5 all of your ordinary dividends. This amount should be shown in box 1a of your Forms 1099-DIV or substitute statements. List each payer's name and show the amount. Nominees. If you received a Form 1099-DIV that includes ordinary dividends you received as a nominee (that is, in your name, but the ordinary dividends actually belong to someone else), report the total on line 5. Do this even if you later distributed some or all of this income to others. Under your last entry on line 5, put a subtotal of all ordinary dividends listed on line 5. Below this subtotal, enter \"Nominee Distribution\" and show the total ordinary dividends you received as a nominee. Subtract this amount from the subtotal and enter the result on line 6. If you received dividends as a nominee, you must give the actual owner a Form 1099-DIV unless the owner is your spouse. You must also file a Form 1096 and a Form 1099-DIV with the IRS. For more details, see the General Instructions for Certain Information Returns and the Instructions for Form 1099-DIV. TIP Part III. Foreign Accounts and Trusts Regardless of whether you are required to file FinCEN Form 114 (FBAR), you may be required to file Form 8938, Statement of Specified Foreign Financial Assets, with your income tax return. Failure to file Form 8938 may result in penalties and extension of the statute of limitations. See www.irs.gov/form8938 for more information. TIP Line 7a-Question 1. Check the \"Yes\" box if at any time during 2014 you had a financial interest in or signature authority over a financial account located in a foreign country. See the definitions that follow. Check the \"Yes\" box even if you are not required to file FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). Financial account. A financial account includes, but is not limited to, a securities, brokerage, savings, demand, checking, deposit, time deposit, or other account maintained with a financial institution (or other person performing the services of a financial institution). A financial account also includes a commodity futures or options account, an insurance policy with a cash value (such as a whole life insurance policy), an annuity policy with a cash value, and shares in a mutual fund or similar pooled fund (that is, a fund that is available to the general public with a regular net asset value determination and regular redemptions). Financial account located in a foreign country. A financial account is located in a foreign country if the account is physically located outside of the United States. For example, an account maintained with a branch of a United States bank that is physically located outside of the United States is a foreign financial account. An account maintained with a branch of a foreign bank that is physically located in the United States is not a foreign financial account. Signature authority. Signature authority is the authority of an individual (alone or in conjunction with another individual) to control the disposition of assets held in a foreign financial account by direct communication (whether in writing or otherwise) to the bank or other financial institution that maintains the financial account. See the FinCEN Form 114 instructions for exceptions. Do not consider the exceptions relating to signature authority in answering Question 1 on line 7a. Other definitions. For definitions of \"financial interest,\" \"United States,\" and other relevant terms, see the instructions for FinCEN Form 114. Line 7a-Question 2. See FinCEN Form 114 and its instructions to determine whether you must file the form. Check the \"Yes\" box if you are required to file the form; check the \"No\" box if you are not required to file the form. If you checked the \"Yes\" box to Question 2 on line 7a, FinCEN Form 114 must be electronically filed with the Financial Crimes Enforcement Network (FinCEN) at the following website: http://bsaefiling. fincen.treas.gov/main.html. Do not attach FinCEN Form 114 to your tax return. To be considered timely, FinCEN Form 114 must be received by June 30, 2015. ! If you are required to file FinCEN Form 114 but do not properly do so, you may have to pay a civil penalty up to $10,000. A person who willfully fails to CAUTION report an account or provide account identifying information may be subject to a civil penalty equal to the greater of $100,000 or 50 percent of the balance in the account at the time of the violation. Willful violations may also be subject to criminal penalties. Line 7b. If you are required to file FinCEN Form 114, enter the name of the foreign country or countries in the space provided on line 7b. Attach a separate statement if you need more space. Line 8. If you received a distribution from a foreign trust, you must provide additional information. For this purpose, a loan of cash or marketable securities generally is considered to be a distribution. See Form 3520 for details. If you were the grantor of, or transferor to, a foreign trust that existed during 2014, you may have to file Form 3520. Do not attach Form 3520 to Form 1040. Instead, file it at the address shown in its instructions. If you were treated as the owner of a foreign trust under the grantor trust rules, you are also responsible for ensuring that the foreign trust files Form 3520-A. Form 3520-A is due on March 16, 2015, for a calendar year trust. See the instructions for Form 3520-A for more details. SCHEDULE D (Form 1040) Department of the Treasury Internal Revenue Service (99) OMB No. 1545-0074 Capital Gains and Losses Attachment Sequence No. 12 Your social security number Name(s) shown on return Emma Shire Part I 2014 Attach to Form 1040 or Form 1040NR. Information about Schedule D and its separate instructions is at www.irs.gov/scheduled. Use Form 8949 to list your transactions for lines 1b, 2, 3, 8b, 9, and 10. 123-45-6789 Short-Term Capital Gains and LossesAssets 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. (d) Proceeds (sales price) (e) Cost (or other basis) (g) Adjustments to gain or loss from Form(s) 8949, Part I, line 2, column (g) (h) Gain or (loss) Subtract column (e) from column (d) and combine the result with column (g) 1a Totals for all short-term transactions reported on Form 1099-B for which basis was reported to the IRS and for which you have no adjustments (see instructions). However, if you choose to report all these transactions on Form 8949, leave this line blank and go to line 1b . 1b 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 . . . . . . . . . . . . . 5500 3000 2500 4 Short-term gain from Form 6252 and short-term gain or (loss) from Forms 4684, 6781, 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 Worksheet in the instructions . . . . . . . . . . . . . . . . . . . . . . . 7 Net short-term capital gain or (loss). Combine lines 1a through 6 in column (h). If you have any longterm capital gains or losses, go to Part II below. Otherwise, go to Part III on the back . . . . . Part II 4 5 6 ( 7 ) 2500 Long-Term Capital Gains and LossesAssets 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 complete if you round off cents to whole dollars. (d) Proceeds (sales price) (e) Cost (or other basis) (g) (h) Gain or (loss) Adjustments Subtract column (e) to gain or loss from from column (d) and Form(s) 8949, Part II, combine the result with line 2, column (g) column (g) 8a Totals for all long-term transactions reported on Form 1099-B for which basis was reported to the IRS and for which you have no adjustments (see instructions). However, if you choose to report all these transactions on Form 8949, leave this line blank and go to line 8b . 8b Totals for all transactions reported on Form(s) 8949 with Box D checked . . . . . . . . . . . . . 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 gain or (loss) from Forms 4684, 6781, and 8824 . . . . . . . . . . . . . . . . . . . . . . 11 12 Net long-term gain or (loss) from partnerships, S corporations, estates, and trusts from Schedule(s) K-1 12 13 Capital gain distributions. See the instructions . . . . . . . . . . . . . . . . . . 14 Long-term capital loss carryover. Enter the amount, if any, from line 13 of your Capital Loss Carryover Worksheet in the instructions . . . . . . . . . . . . . . . . . . . . . . . 15 Net long-term capital gain or (loss). Combine lines 8a through 14 in column (h). Then go to Part III on the back . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 11338H 14 ( ) 15 Schedule D (Form 1040) 2014 Page 2 Schedule D (Form 1040) 2014 Part III 16 Summary Combine lines 7 and 15 and enter the result . . . . . . . . . . . . . . . . . . 16 2500 If line 16 is a gain, enter the amount from line 16 on Form 1040, line 13, or Form 1040NR, line 14. Then go to line 17 below. If line 16 is a loss, skip lines 17 through 20 below. Then go to line 21. Also be sure to complete line 22. If line 16 is zero, skip lines 17 through 21 below and enter -0- on Form 1040, line 13, or Form 1040NR, line 14. Then go to line 22. 17 Are lines 15 and 16 both gains? Yes. Go to line 18. No. Skip lines 18 through 21, and go to line 22. 18 Enter the amount, if any, from line 7 of the 28% Rate Gain Worksheet in the instructions 18 19 Enter the amount, if any, from line 18 of the Unrecaptured Section 1250 Gain Worksheet in the instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 20 . . Are lines 18 and 19 both zero or blank? Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 1040, line 44 (or in the instructions for Form 1040NR, line 42). Do not complete lines 21 and 22 below. No. Complete the Schedule D Tax Worksheet in the instructions. Do not complete lines 21 and 22 below. 21 If line 16 is a loss, enter here and on Form 1040, line 13, or Form 1040NR, line 14, the smaller of: The loss on line 16 or ($3,000), or if married filing separately, ($1,500) } . . . . . . . . . . . . . . . 21 ( ) Note. When figuring which amount is smaller, treat both amounts as positive numbers. 22 Do you have qualified dividends on Form 1040, line 9b, or Form 1040NR, line 10b? Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 1040, line 44 (or in the instructions for Form 1040NR, line 42). No. Complete the rest of Form 1040 or Form 1040NR. Schedule D (Form 1040) 2014 SCHEDULE E (Form 1040) Department of the Treasury Internal Revenue Service (99) Name(s) shown on return Emma Shire Part I Supplemental Income and Loss OMB No. 1545-0074 2014 (From rental real estate, royalties, partnerships, S corporations, estates, trusts, REMICs, etc.) Attach to Form 1040, 1040NR, or Form 1041. about Schedule E and its separate instructions is at www.irs.gov/schedulee. Information Attachment Sequence No. 13 Your social security number 123-45-6789 Income or Loss From Rental Real Estate and Royalties Note. If you are in the business of renting personal property, use Schedule C or C-EZ (see instructions). If you are an individual, report farm rental income or loss from Form 4835 on page 2, line 40. A Did you make any payments in 2014 that would require you to file Form(s) 1099? (see instructions) Yes No B If \"Yes,\" did you or will you file required Forms 1099? Yes No 1a Physical address of each property (street, city, state, ZIP code) A B C Fair Rental Personal Use 2 For each rental real estate property listed 1b Type of Property QJV above, report the number of fair rental and Days Days (from list below) personal use days. Check the QJV box A A only if you meet the requirements to file as a qualified joint venture. See instructions. B B C C Type of Property: 1 Single Family Residence 3 Vacation/Short-Term Rental 5 Land 7 Self-Rental 2 Multi-Family Residence 4 Commercial 6 Royalties 8 Other (describe) Income: Properties: A B C 3 Rents received . . . . . . . . . . . . . 3 4 Royalties received . . . . . . . . . . . . 4 Expenses: 5 Advertising . . . . . . . . . . . . . . 5 6 Auto and travel (see instructions) . . . . . . . 6 7 Cleaning and maintenance . . . . . . . . . 7 8 Commissions. . . . . . . . . . . . . . 8 9 Insurance . . . . . . . . . . . . . . . 9 10 Legal and other professional fees . . . . . . . 10 11 Management fees . . . . . . . . . . . . 11 12 Mortgage interest paid to banks, etc. (see instructions) 12 13 Other interest. . . . . . . . . . . . . . 13 14 Repairs. . . . . . . . . . . . . . . . 14 15 Supplies . . . . . . . . . . . . . . . 15 16 Taxes . . . . . . . . . . . . . . . . 16 17 Utilities . . . . . . . . . . . . . . . . 17 18 Depreciation expense or depletion . . . . . . . 18 Other (list) 19 19 20 Total expenses. Add lines 5 through 19 . . . . . 20 Subtract line 20 from line 3 (rents) and/or 4 (royalties). If result is a (loss), see instructions to find out if you must file Form 6198 . . . . . . . . . . . . . 21 Deductible rental real estate loss after limitation, if any, 22 )( on Form 8582 (see instructions) . . . . . . . 22 ( 23a Total of all amounts reported on line 3 for all rental properties . . . . 23a b Total of all amounts reported on line 4 for all royalty properties . . . . 23b c Total of all amounts reported on line 12 for all properties . . . . . . 23c d Total of all amounts reported on line 18 for all properties . . . . . . 23d e Total of all amounts reported on line 20 for all properties . . . . . . 23e 24 Income. Add positive amounts shown on line 21. Do not include any losses . . . . . . . 25 Losses. Add royalty losses from line 21 and rental real estate losses from line 22. Enter total losses here 21 26 Total rental real estate and royalty income or (loss). Combine lines 24 and 25. Enter the result here. If Parts II, III, IV, and line 40 on page 2 do not apply to you, also enter this amount on Form 1040, line 17, or Form 1040NR, line 18. Otherwise, include this amount in the total on line 41 on page 2 . . . . For Paperwork Reduction Act Notice, see the separate instructions. Cat. No. 11344L )( ) 24 25 ( ) 26 Schedule E (Form 1040) 2014 Attachment Sequence No. 13 Page 2 Your social security number Schedule E (Form 1040) 2014 Name(s) shown on return. Do not enter name and social security number if shown on other side. Emma Shire 123-45-6789 Caution. The IRS compares amounts reported on your tax return with amounts shown on Schedule(s) K-1. Income or Loss From Partnerships and S Corporations Part II Note. If you report a loss from an at-risk activity for which any amount is not at risk, you must check the box in column (e) on line 28 and attach Form 6198. See instructions. 27 Are you reporting any loss not allowed in a prior year due to the at-risk, excess farm loss, or basis limitations, a prior year unallowed loss from a passive activity (if that loss was not reported on Form 8582), or unreimbursed partnership expenses? If No Yes you answered \"Yes,\" see instructions before completing this section. 28 (b) Enter P for partnership; S for S corporation (a) Name A Clothing Boutiqe B C D Passive Income and Loss (f) Passive loss allowed (attach Form 8582 if required) A B C D 29a b 30 31 32 Nonpassive Income and Loss Totals Totals Add columns (g) and (j) of line 29a . . . . . . Add columns (f), (h), and (i) of line 29b . . . . Total partnership and S corporation income or result here and include in the total on line 41 below (h) Nonpassive loss from Schedule K-1 (i) Section 179 expense deduction from Form 4562 (j) Nonpassive income from Schedule K-1 23580 . . . . . . . . . . . . (loss). Combine . . . . . . . . . . . . . . . . . . lines 30 and 31. . . . . . . . . . . Enter . . . . the . Income or Loss From Estates and Trusts 30 31 ( 23580 32 23580 Passive Income and Loss (c) Passive deduction or loss allowed (attach Form 8582 if required) Totals Totals Add columns (d) and (f) of line 34a . Add columns (c) and (e) of line 34b Total estate and trust income or include in the total on line 41 below Part IV 38 . . . . . . . . . . . . . . . . Combine lines 35 and . . . . . . . . (e) Deduction or loss from Schedule K-1 . . . . . . . . . . 36. Enter the . . . . . . . . . result . . . . . . . . here and . . . (f) Other income from Schedule K-1 35 36 ( ) 37 Income or Loss From Real Estate Mortgage Investment Conduits (REMICs)Residual Holder (a) Name (b) Employer identification number (c) Excess inclusion from Schedules Q, line 2c (see instructions) (d) Taxable income (net loss) from Schedules Q, line 1b Combine columns (d) and (e) only. Enter the result here and include in the total on line 41 below Part V ) Nonpassive Income and Loss (d) Passive income from Schedule K-1 . . . . (loss). . . 0 (b) Employer identification number (a) Name A B (e) Income from Schedules Q, line 3b 39 Summary 40 41 Net farm rental income or (loss) from Form 4835. Also, complete line 42 below . . . . . . Total income or (loss). Combine lines 26, 32, 37, 39, and 40. Enter the result here and on Form 1040, line 17, or Form 1040NR, line 18 42 Reconciliation of farming and fishing income. Enter your gross farming and fishing income reported on Form 4835, line 7; Schedule K-1 (Form 1065), box 14, code B; Schedule K-1 (Form 1120S), box 17, code V; and Schedule K-1 (Form 1041), box 14, code F (see instructions) . . 42 Reconciliation for real estate professionals. If you were a real estate professional (see instructions), enter the net income or (loss) you reported anywhere on Form 1040 or Form 1040NR from all rental real estate activities in which you materially participated under the passive activity loss rules . . 43 43 (e) Check if any amount is not at risk P (g) Passive income from Schedule K-1 33 39 (d) Employer identification number 23580 Part III A B 34a b 35 36 37 (c) Check if foreign partnership 40 41 23580 Schedule E (Form 1040) 2014 Form 8949 Department of the Treasury Internal Revenue Service Sales and Other Dispositions of Capital Assets Information about Form 8949 and its separate instructions is at www.irs.gov/form8949. File with your Schedule D to list your transactions for lines 1b, 2, 3, 8b, 9, and 10 of Schedule D. OMB No. 1545-0074 2014 Attachment Sequence No. 12A Social security number or taxpayer identification number Name(s) shown on return Emma Shire 123-45-6789 Before you check Box A, B, or C below, see whether you received any Form(s) 1099-B or substitute statement(s) from your broker. A substitute statement will have the same information as Form 1099-B. Either may show your basis (usually your cost) even if your broker did not report it to the IRS. Brokers must report basis to the IRS for most stock you bought in 2011 or later (and for certain debt instruments you bought in 2014 or later). Part I Short-Term. Transactions involving capital assets you held 1 year or less are short term. For long-term transactions, see page 2. Note. You may aggregate all short-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS and for which no adjustments or codes are required. Enter the total directly on Schedule D, line 1a; you are not required to report these transactions on Form 8949 (see instructions). You must check Box A, B, or C below. Check only one box. If more than one box applies for your short-term transactions, complete a separate Form 8949, page 1, for each applicable box. If you have more short-term transactions than will fit on this page for one or more of the boxes, complete as many forms with the same box checked as you need. (A) Short-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS (see Note above) (B) Short-term transactions reported on Form(s) 1099-B showing basis was not reported to the IRS (C) Short-term transactions not reported to you on Form 1099-B 1 (a) Description of property (Example: 100 sh. XYZ Co.) 100 shares Ace Corporation (b) Date acquired (Mo., day, yr.) (c) Date sold or disposed (Mo., day, yr.) (d) Proceeds (sales price) (see instructions) Jan. 12, 2014 Dec 19, 2014 5500 Adjustment, if any, to gain or loss. If you enter an amount in column (g), (e) (h) enter a code in column (f). Cost or other basis. Gain or (loss). See the separate instructions. See the Note below Subtract column (e) and see Column (e) from column (d) and (f) (g) in the separate combine the result Code(s) from instructions with column (g) Amount of instructions adjustment 3000 2500 2 Totals. Add the amounts in columns (d), (e), (g), and (h) (subtract negative amounts). Enter each total here and include on your Schedule D, line 1b (if Box A above is checked), line 2 (if Box B above is checked), or line 3 (if Box C above is checked) 2500 Note. If you checked Box A above but the basis reported to the IRS was incorrect, enter in column (e) the basis as reported to the IRS, and enter an adjustment in column (g) to correct the basis. See Column (g) in the separate instructions for how to figure the amount of the adjustment. For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 37768Z Form 8949 (2014) Attachment Sequence No. 12A Form 8949 (2014) Name(s) shown on return. Name and SSN or taxpayer identification no. not required if shown on other side Page 2 Social security number or taxpayer identification number Before you check Box D, E, or F below, see whether you received any Form(s) 1099-B or substitute statement(s) from your broker. A substitute statement will have the same information as Form 1099-B. Either may show your basis (usually your cost) even if your broker did not report it to the IRS. Brokers must report basis to the IRS for most stock you bought in 2011 or later (and for certain debt instruments you bought in 2014 or later). Part II Long-Term. Transactions involving capital assets you held more than 1 year are long term. For short-term transactions, see page 1. Note. You may aggregate all long-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS and for which no adjustments or codes are required. Enter the total directly on Schedule D, line 8a; you are not required to report these transactions on Form 8949 (see instructions). You must check Box D, E, or F below. Check only one box. If more than one box applies for your long-term transactions, complete a separate Form 8949, page 2, for each applicable box. If you have more long-term transactions than will fit on this page for one or more of the boxes, complete as many forms with the same box checked as you need. (D) Long-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS (see Note above) (E) Long-term transactions reported on Form(s) 1099-B showing basis was not reported to the IRS (F) Long-term transactions not reported to you on Form 1099-B 1 (a) Description of property (Example: 100 sh. XYZ Co.) (b) Date acquired (Mo