INSTRUCTIONS : COMPLETE FORM 1040, SCHEDULE 1, SCHEDULE D, SCHEDULE E, FORM 8949, FORM 8582 and QUALIFIED DIVIDENDS AND CAPITAL GAIN TAX WORKSHEET for the Blacks.

Skylar and Walter Black have been married for 25 years. They live at 883 Scrub Brush Street, Apt. 52B, Las Vegas, NV 89125. Skylar is a stay-at-home parent and Walt is a high school teacher. His W-2 form is located on the next tab. Skylar's Social Security number is 222-43-7690 and Walt's is 700-01-0002. Neither are age 65 or older. The Blacks provide all the support for Skylar's mother, Rebecca Backin (Social Security number 411-66-2121), who lives in a nursing home in Reno, NV and has no income. Walter's father, Alton Black (Social Security number 343-22-8899), lives with the Blacks in Las Vegas. Although Alton received Social Security benefits of $7,600 in 2020, the Blacks provide over half of Alton's support. Skylar and Walt claim a $500 other dependent credit each for Rebecca and Alton.

Walts earnings from teaching are included on the W-2 (see separate tab).

The Blacks moved from Maine to Nevada. As a result, they sold their house in Maine on January 4, 2020. They originally paid $75,000 for the home on July 3, 1995, but managed to sell it for $604,000. They spent $14,000 on improvements over the years. They are currently renting in Las Vegas while they look for a new home.

The Blacks received a 1099-DIV from their mutual fund investments (see separate tab).

The Blacks own a ski condo located at 123 Buncombe Lane, Brian Head, UT 84719. The condo was rented for 185 days during 2020 and used by the Blacks for 15 days. The rental activity does not rise to the level to qualify for the QBI deduction. Pertinent information about the condo rental is as follows:

Rental income	$23,700
Mortgage interest reported on Form 1098	16,000
Homeowners' association dues	5,200
Utilities	3,400
Maintenance	6,600
Depreciation (assume fully depreciated)	0

The above amounts do not reflect any allocation between rental and personal use of the condo. The Blacks are active managers of the condo. The Blacks received a $2,400 EIP in 2020.

Required:

INSTRUCTIONS : COMPLETE FORM 1040, SCHEDULE 1, SCHEDULE D, SCHEDULE E, FORM 8949, FORM 8582 and QUALIFIED DIVIDENDS AND CAPITAL GAIN TAX WORKSHEET for the Blacks.

• Assume the taxpayers had health coverage for the entire year.
• Neither taxpayers wants to contribute to the
• presidential election campaign.
• If an amount box does not require an entry or the answer is zero, enter "0".
• Do not round any percentages.
• If required, round your answers to the nearest dollar.
• If required, enter a "loss" as a negative number on the tax form. Do not enter deductions as negative numbers.
• Special instructions for Form 8582: If required, use the minus sign to enter a "loss" as a negative number on the lines 1d, 4 and 16. However, per the instructions on the tax return, enter all numbers in Part II as positive amounts.

Rental income $23,700 Mortgage interest reported on Form 1098 16,000 Homeowners' association dues 5,200 Utilities 3,400 Maintenance 6,600 Depreciation (assume fully depreciated) 0 Wate's Forms W-2 and 100-DIV Walter's coming from teaching are OMB No 1545.000 FAST 1 Wages, tips, other compensat 54,300.00 eployee's social security number 700-01-0002 Employer identification number (EN) 31-1239867 Employer's name, address, and 21 code Las Vegas School District 2234 Vegas Valley Drive Las Vegas, NV 89169 Social Security wages 54,300.00 S Medicare wages and to 54,300.00 Salt Control number toployee's first name and in Last name Su 11 Noie plans Walter Black 883 Scrub Brush Street, Apt. 528 Las Vegas, NV 89125 13 Story employee 14 h Employer dress and ZIP 15 State Employer's 16 State wages, tips state ID number NV 17 State income 18 Local Wage and Tax W-2 Form Statement 2020 Copy B-To Be Filed With Employee's FEDERAL Tax Return This information as being furnished to the Internal Revenue Service The Blacks received the following 1095-De from their mutual fund investments CORRECTED OF checked PAYER'S name, street address, city or town, state or province 1a Thalia country, ZIP or foreign postal code, and telephone $1,500.00 Cyber Equities Fund 41 Wall Street 3D Qualified videns Walter's Forms W.2 und 10000 MB No 1545-0008 PAT en file 1 Wages, other como 54,300.00 Scity was 54,300.00 5 Medicare apes and tips 54,300.00 7 Social security tipe 2 recome withdd 2.100.00 - Socal security tax whet 2.366.60 located in 19 Dependent care benefits But 11 Noviedla 12a Sections for bow 17 DO 57,900.00 13 Statutory 14 O 12 17 State income 38 L 20 Localitame Departmest fer-Internal Revenue Service 2020 Tax Return out Service mutual fund investments: CORRECTED (checked province ia Total diary dividends $1,500.00 2020 Dividends and Distributions 1b Quated videos Water's Forms W. und 10000 15 State Employers 16 Stewages, pl state ID number etc NV 17 State income 18 Local W-2 satement Wage and Tax 2020 Form Copy B-To Be Red With Employee's FEDERAL Tax Return This information is being furnished to the Internal Revenue Service The ladies received the following 1000- DV From the mutual fund investments PAYER'Same, tres, city or town, state or in country. 21P or foreign code, and trainene CORRECTED OF checked 1 Total dan vidende $1,500.00 1b Qualified video Cyber Equities Fund 41 Wall Street New York, NY 10005 $1,050.00 2 total capitalgan 5 6,700.23 2c Section 102 gain PAVERSTIN RECIPIENTS IN 222-43-7690 17-1234326 RECIPIENTS 3 Nandans bution Skylar B. Black 5 Section 1994 vidends $ 7 Foreign Street adress (including sot, 3 Scrub Brush Street, 20 chy or town, stor province, Country, and 21P er trimest code Cash Las Vegas, NV 89125 TATCA 11 monterest requiremenavides $ Account number (Wet notruction) 13 State 14 State dentification Form 1099-OV Com for your records) www.gum Walter's Forms W-2 and 1099 DIV 18 Local 19 Local come 17 State income tax Department of the Treasury Service 2020 Tax Return venue Service mutual fund investments CORRECTED checked) La total ordinary dividende $1,500.00 1b Qualified dividends Dividends 2020 and Distributions 1099-OTV 2b Lecap Sec 125 $1,050.00 2a Tua capital gain $ 6,700.23 2 Section 1202 ad Calle 289) gain $ Nondividend distributions 4 Pederal income with Copy B For Rent 6 Investment expenses 5 Section 1994 dividends . 7 Foreign tax paid 8 Foreign country or US possession Informationen Hunde reign postal po 9 Cash quidation distributions 10 Nonchiquidation distributions med on you comitable and the 15th FATCA iing 11 trept interest requirement dividends 12 Species activity bond interest dividende 13 Start 14 State 15 Statet with Identifications $ Department of the Treasury - Internal Service www.io/rom:10970 Walter's Forms W-2 and 1099 DIV a Employee's social security number 700-01-0002 OMB No 1545-0008 Safe, accurate, FASTI Use IRS e n file Visit the IRS website at www.rs.gov/efile 2 b Employer identification number (EIN) 31-1239867 1 Wages, tips, other compensation 54,300.00 Federal income tax withheld 4,100.00 3 Social security wages 54,300.00 4 Social security tax withheld 3,266.60 C Employer's name, address, and ZIP code Las Vegas School District 2234 Vegas Valley Drive Las Vegas, NV 89169 5 Medicare wages and tips $4,300.00 6 Medicare tax withheld 787.35 2 Social Security tips 8 Allocated tips d Control number 10 Dependent care benefits Suff. 11 Nonqualified plans 12a See instructions for box 12 Walter's Forms W-2 and 1099-DIV e Employee's first name and initial Last name Walter Black 883 Scrub Brush Street, Apt. 528 Las Vegas, NV 89125 0 DD $7,900.00 12b 13 Statutory employee Retirement Third-party plan sick pay o d 14 Other 120 C X Walter's Forms W-2 and 1099-DIV OMB No 1545-0110 PAYER'S name, street address, city or town, state or province, country, ZIP or foreign postal code, and telephone no. 1a Total ordinary dividends Divide $ 1,500.00 2020 1b Qualified dividends Distributi Cyber Equities Fund 41 Wall Street New York, NY 10005 $ 1,050.00 Form 1099-DIV 2a Total capital gain distr 2b Unrecap. Sec. 1250 gain $ 6,700.23 $ 20 Section 1202 gol 2d Collectibles (289) PAYER'S TIN RECIPIENT'S TIN Ihan Walter's Forms W-2 and 1099-DIV 2c Section 1202 gain 2d Collectibles (28%) PAYER'S TIN RECIPIENTIS TIN gain $ 17-1234326 222-43-7690 $ RECIPIENT'S name 3 Nondividend distributions 4 Federal income tax withheld Cop Skylar B. Black $ For Re 6 Investment expenses 5 Section 199A dividends 5 $ Street address (including apt. no.) 7 Foreign tax pald Foreign country or U.S. possession This is import Information and furnished to the 883 Scrub Brush Street, #520