Instructions Form 1040 Schedule 1 Schedulo 3 Schodulo A Schedule C Schedulo D Form 8948 Form 8995 Instructions Note: This problem is for the 2019 tax year. Jane Smith, age 40, is single and has no dependents. She is employed as a legal secretary by Legal Services, Inc. She owns and operates Typing Services located near the campus of Florida Atlantic University at 1986 Campus Drive, Boca Raton, FL 33434. Jane is a material participant in the business. She is a cash basis taxpayer. Jane lives at 2020 Oakcrest Road, Boca Raton, FL 33431. Jane's Social Security number is 123-45-6781. Jane indicates that she wants to designate $3 to the Presidential Election Campaign Fund. Jane has never owned or used any virtual currency. During 2019, Jane had the following income and expense items: $100,000 salary from Legal Services, Inc. $20,000 gross receipts from her typing services business. $700 interest income from Third National Bank. $1,000 Christmas bonus from Legal Services, Inc. $60,000 life insurance proceeds on the death of her sister. f. $5,000 check given to her by her wealthy aunt. a. b. c. d. e. Check here t VOUNO Vour Form 1040 Instructions e. f. 9. h. $60,000 life insurance proceeds on the death of her sister. $5,000 check given to her by her wealthy aunt. $100 won in a bingo game. Expenses connected with the typing service: Office rent $7,000 Supplies 4,400 Utilities and telephone 4,680 Wages to part-time typists 5,000 Payroll taxes 500 Equipment rentals 3,000 $9,500 interest expense on a home mortgage (paid to San Jose Savings and Loan). 8 Instructions 1: $15,000 fair market value of silverware stolen from her home by a burglar on October 12, 2019. Jane had paid $14,000 for the silverware on July 1, 2009. She was reimbursed $10,000 by her Insurance company. k. Jane had loaned $2,100 to a friend, Joan Jensen, on June 3, 2015. Joan declared bankruptcy on August 14, 2019, and was unable to repay the loan. Assume that the loan is a bona fide debt. I Legal Services, Inc., withheld Federal income tax of $15,000 and the appropriate amount of FICA tax from her wagen. m. Alimony of $10,000 received from her former husband, Ted Smith; divorce was finalized on December 2, 2013, and no changes have been made to the divorce decree since that time. Interest income of $800 on City of Boca Raton bands. Jane made estimated Federal tax payments of $2,000 p. Sales taxes from the sales tax table of $953. Property taxes on her residence of $3,200 Charitable contribution of $2,500 to her alma mater, Citrus State College n. 0. 9 NU 5 x Instructions Chantan conocion or 2 SOU Onerima materius State College On November 1, 2019, Jane was involved in an automobile accident. At the time of the accident, Jane's automobile had an Fh of $45,000. After the accident, the automobile's FMV was 5:38,000. Jane equired the car at a cost of $52.000. Jane's car was covered by Insurance, but because the policy had a 55,000 deduction caute, Jane decided not to be a claim for the damage Requiredt Compute Jane Smith 2010 Federal income tax payable for retund ), we Form 1040, schedule 1, Schedus, schooule A Schedules Schedule and Form 1049 Make realistic assumptions about any missing data. If an amount box does not require an entry or the answer is zero, enter "o. Enter all amounts as positive numbers. However, unless instructed otherwise, use the minus sign to indicate a loss. It may be necessary to complete the tax schedules before completing Form 1040. Use the tax rate schedules provided (do not use the tax tables). When computing the tax liability, do not round your immediate calculations. If required round your final answers to the nearest dollar, b Za 2b 3b for- or 4b filing 2a Tax-exempt interest .. Taxable interest. Attach Sch. B required 3a Qualified dividends... b Ordinary dividends. Attach Sch. B if required 4a IRA distributions 4a b Taxable amount C Pensions and annuities d Taxable amount 5a Social security benefits 5a b Taxable amount Capital gain or (loss). Attach Schedule D if required. If not required, check here 7a Other Income from Schedule 1, line 9. ely, 4d Sb filing 6 or ng 6 7a b Add lines 1, 2b, 35, 46, 40, 5b, 6, and 7a. This is your total income 7b old, 8a Adjustments to income from Schedule 1, line 22 8a LUU GO LA Scheda X X 8b Form 1040 you checked ny box under Standard Deduction, see Instructions. b Subtract line 8a from line 7b. This is your adjusted gross income 9 Standard deduction or itemized deductions (from Schedule A) 9 10 Qualified business income deduction. Attach Form 8995 or Form 8995-A 10 11a Add lines 9 and 10 11a 11b b Taxable income. Subtract line 11a from line 8b. If zero or less, enter-O- For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Form 1040 (2019) 123-45-6781 Page 2 h 1040 (2019) Jane Smith 12a Tax (see inst. Check if any from Formis 18814 Form 1040 n 1040 (2019) Jane Smith 123-45-6781 Page 2 12a Tax (see inst.) Check if any from Form(o): 103814 2 54972 30 12a Add Schedule 2. line 3, and line 128 and enter the total 12b 13a 13b 13a Child tax credit or credit for other dependents b Add Schedule 3, line 7, and line 13a and enter the total Subtract line 13byrom tine 125. It rere or less, enter ... Other taxes, including self-employment tax, from Schedule 2, line 10 16 Add lines 14 and 15. This is your total tax 14 15 15 16 17 Federal income tax withheld from Forms W 2 and 1099 17 Form 1040 nstructions x 180 19 d Schedule 3, line 14. 180 e Add lines 18a through 180. These are your total other payments and refundable credits 19 Add lines 17 and 18e. These are your total payments 20 If line 19 is more than line 16, subtract line 16 from line 19. This is the amount you overpaid 21a Amount of line 20 you want refunded to you. Ir Form 8888 is attached, check here b Routing number c Type: Checking Savings fund 20 21a ct deposit? Instructions d Account number 22 Amount of line 20 you want applied to your 2020 estimated reg 1 2a 10,000 3 Taxable refunds, credits, or offsets of state and local income taxes Alimony received Date of original divorce or separation agreement (sce instructions) 12/2013 id Business income or Class). Attach Schedule C. ep 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 w Unemployment compensation 4 -I 5 6 7 Other income. List type and amount Life in RDCe code Form 1040 X ructi Schedule 1 X pa Fred 8 60000 Combine lines 1 through 8. Enter here and on Form 1040 or 1040-SR, line 7a 9 10 11 1 rt II Adjustments to Income Educator expenses bid Certain business expenses of reservists, performing artists, and fee-basis government officials. Attach Form ep 2106 se 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. 12 13 LOW 14 15 Form 1040 X ructi Schedule 1 pa Penalty on early withdrawal of savings. 17 rec Alimony paid 18a Recipient's SSN Date of original divorce or separation agreement (see instructions) IRA deduction 19 lid Student loan interest deduction 20 ep Tuition and fees. Attach Form 8917 21 se Add lines 10 through 21. These are your adjustments to income. Inter here and on Form 1040 or 1040-SA, line Ba 22 low For Paperwork Reduction Act Notice, see your tax return instructions. Schedule 1 (Form 1040 or 1040-SR) 2019 ruct pa 8 09 9 10 Pe Schedule 3 red Alrart 11 Other Payments and Refundable Credits Re8 2019 estimated tax payments and amount applied from 2018 return Net premium tax credit. Attach Form 1962 IR lid O Amount paid with request for extension to file (see instructions) Sexcess social security and tier : PRTA tax withheld 2 Credit for federal tax on fuels. Attach Form 4136. e Ada Credits from Form: a a 2439 bo Reserved CD8885 do Fo 4 Add lines 8 through 13. Enter here and on Form 1040 or 1040-SR, line 180 AA For Paperwork Reduction Act Notice, see your tax return instructions. 11 ep Tu 12 13 lind 14 Schedule 3 (Form 1040 or 1040-SR) 2019 Schedule A me(s) shown on Form 1040 or 1040-SR he Smith Your social security number 123-45-6781 Caution: Do not include expenses reimbursed or paid by others. 1 Medical and dental expenses (see instructions) edical id Dental 2 Enter amount from Form 1040 or 1040- SR, line 8b.. 2 penses 3 Multiply line 2 by 7.5% (0.075) 4 Subtract line 3 from line 1. If line 3 is more than line 1, enter-o- axes You aid 5 State and local taxes. a State and local income taxes or general sales taxes. You may include either income taxes or general sales taxes on line 5a, but Schedule A X 5 State and local taxes. axes You lid Sa a State and local income taxes or general sales taxes. You may include either income taxes or general sales taxes on line 5a, but not both. If you elect to include general sales taxes instead of income taxes, check this box 8 b State and local real estate taxes (see instructions). c State and local personal property taxes d Add lines Sa through 5c. 5b 5c IIDID Sd 5e e Enter the smaller of line 5d or $10,000 ($5,000 if married filing separately) 6 Other taxes. Ust type and amount X Schedule A 6 Other taxes. List type and amount nterest ou Paid I 7 Add lines 5e and 6.... 8 Home mortgage interest and points. If you didn't use all of your home mortgage loan(s) to buy, build, or improve your home, see instructions and check this box a Home mortgage interest and points reported to you on Form 1098. See instructions if limited... b Home mortgage interest not reported to you on Form 1098. See Instructions if limited. If paid to the person from whom you bought the home, see instructions and show that person's name, identifying no., and address bution: Sur mortgage terest duction may limited (see structions) 8a Schedule A e Add lines sa through 8d Se 9 9 Investment interest. Attach Form 4952 if required. See instructions 10 Add lines 8e and 9 10 11 ifts to 11 Gifts by cash or check. If you made any gift of $250 or more, harity see instructions 12 Other than by cash or check. If you made any gift of $250 or more, bution: see instructions. You must attach Form 8283 over $500 you made a t and got a 13 Carryover from prior year nefit for it) e instructions. 14 Add lines 11 through 13 12 13 14 > Schedule A asualty and 15 Casualty and theft loss(es) from a federally declared disaster (other than net qualified disaster heft Losses losses). Attach Form 4684 and enter the amount from line 18 of that form. See instructions. 15 ther 16 Other-from list in instructions. Ust type and amount emized eductions 16 btal 17 Add the amounts in the far right column for lines 4 through 16. Also, enter this amount on temized 17 Form 1040 or 1040-SR, line 9 18 If you elect to itemize deductions even though they are less than your standard deduction, eductions check this box... AA For Paperwork Reduction Act Notice, see the Instructions Schedule A (Form 1040 or 1040-SR) 2019 r Forms 1040 and 1040-SR