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Individual taxpayer information Individual tax forms required: Form 1040 Schedule 1 Schedule 5 Schedule A Schedule B Schedule D Schedule E Form 8949 Form 4797

Individual taxpayer information

Individual tax forms required:

  • Form 1040
  • Schedule 1
  • Schedule 5
  • Schedule A
  • Schedule B
  • Schedule D
  • Schedule E
  • Form 8949
  • Form 4797 (see item 4.i. below)
  1. Herman Hieberts social security number is 456-12-3789. He is married but does not have any dependents. His wifes name is Rebecca, and her social security number is 123-45-6789. They live at 1345 E. 44th Street, Phoenix, AZ 85017
  2. Additional information to complete the tax returns:
    1. Rebecca works at Intel Corporation and earned $160,000 during the tax year.
    2. Her federal tax withholding was $30,000 and Arizona income taxes withheld were $8,000. Herman made federal estimated tax payments of $15,000 and Arizona estimated payments of $1,500
    3. Mortgage interest on their personal residence was $15,200, and property taxes were $5,150.
    4. Additional charitable contributions of $10,500 were paid during the year.
    5. On July 10, 2018, they sold 1,000 shares of Intel Corporation stock for $70 per share. They purchased the stock on May 1, 2012 for $56 per share.
    6. The taxpayers have a long-term capital loss carry forward of $5,000.
    7. Assume AMT does not apply.
    8. Apply any refund to estimated tax payments for the next year.
    9. Instead of preparing Form 4797 (because it was already prepared for the s-corporation), input any gain/loss from the Section 1231 asset on Form 1040, Schedule 1, line 14.

Can someone help me fill out these tax forms.

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