Joe and Sharon Racca are married and have two children. Joe works as a sales manager for a national pharmaceutical company and Sharon is a nurse. They own a vacation home in New Hampshire that is used 30% for personal purposes. During the year they receive $1,800 in reimbursements from their medical plan and report $2,200 of investment income. They contributed stock, with a fair market value of $4,000, which they acquired in 2007 at a cost of $1,700 to Stanton College. The Racca's gambling winnings for the year were $1,000 and are included in their adjusted gross income. Their adjusted gross income for the year is $144,000 and they provide you with the following data: Automobile insurance Homeowners insurance Life insurance Disability insurance Health insurance premiums Country club dues Health club dues Hospital Doctor Chiropractor Dentists Prescription drugs Over-the-counter drugs State taxes withheld Property taxes (ad valorem) Investment interest Mortgage interest (primary residence) Real estate taxes primary residence) Mortgage interest vacation residence - unallocated) Real estate taxes (vacation residence - unallocated) Charitable contributions (cash) Charitable contribution (clothes at FMV) Gambling losses $ 1,450 625 980 375 6,420 1,800 750 4,700 2,275 650 3,750 475 460 4,475 1.320 1,600 10,850 5,240 8,000 2,350 12,435 600 650 Complete their Schedule A on the back of this paper. Sequence N. 07 1 3 SCHEDULE A Itemized Deductions OMB No 1545-0074 (Form 1040) Go to www.irs.gov/Schedule for instructions and the latest information. 2020 Department of the Attach to Form 1040 or 1040-SR. Attachment Internal Power Service | Caution: If you are claiming a net qualified disaster loss on Form 4684, see the instructions for line 16. Names shown on Form 1040 Or 1040-SR Your social security number Medical Caution: Do not include expenses reimbursed or paid by others. and 1 Medical and dental expenses (soe instructions) Dental 2 Enter amount from Form 1040 or 1040-SR, line 112 Expeoses 3 Multiply ine 2 by 7.5% (0.075) 4 Subtract line 3 from line 1. If line 3 is more than line 1, enter-O- Taxes You 5 State and local taxes Paid 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. 5a b State and local real estate taxes (see instructions) c State and local personal property taxes. 5c d Add lines sa through sc. 5d e Enter the smaller of line 5d or $10,000 ($5,000 if married filing separately) 50 6 Other taxes. List type and amount 6 7 Add lines Se and 6 Interest 8 Home mortgage interest and points. If you didn't use all of your home You Paid mortgage loan(s) to buy, build, or improve your home, see Caution You instructions and check this box mortgage interest deduction may be a Home mortgage interest and points reported to you on Form 1098. See instructions if limited 8a hauction b Home mortgage interest not reported to you on Form 1098. See ins ctions 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 5b Imited 10 13 8b c Points not reported to you on Form 1098. See instructions for special rules 8c d Mortgage insurance premiums (see instructions) 8d e Add lines Ba through 8d 80 9 Investment interest. Attach Form 4952 if required. See instructions 9 10 Add lines 8o and 9 Gifts to 11 Gifts by cash or check. If you made any gift of $250 or more, see Charity instructions 11 Caution if you 12 Other than by cash or check. If you made any gift of $250 or more. made a grand got a benefit for it see instructions. You must attach Form 8283 if over $500 12 see ristructions 13 Carryover from prior year 14 Add lines 11 through 13 Casualty and 15 Casualty and theft loss(es) from a federally declared disaster (other than not qualified Theft Losses disaster losses). Attach Form 4684 and enter the amount from line 18 of that form. See instructions 15 Other 16 Other--from list in instructions. List type and amount Itemized Deductions Total 17 Add the amounts in the far right column for lines 4 through 16. Also, enter this amount on Itemized Form 1040 or 1040-SR, line 12 17 Deductions 18 If you elect to iternize deductions even though they are loss than your standard deduction, check this box.. For Paperwork Reduction Act Notice, see the Instructions for Forms 1040 and 1040-SR. Schedule A Form 10401 2020 14 16 Cat No. 17145C Joe and Sharon Racca are married and have two children. Joe works as a sales manager for a national pharmaceutical company and Sharon is a nurse. They own a vacation home in New Hampshire that is used 30% for personal purposes. During the year they receive $1,800 in reimbursements from their medical plan and report $2,200 of investment income. They contributed stock, with a fair market value of $4,000, which they acquired in 2007 at a cost of $1,700 to Stanton College. The Racca's gambling winnings for the year were $1,000 and are included in their adjusted gross income. Their adjusted gross income for the year is $144,000 and they provide you with the following data: Automobile insurance Homeowners insurance Life insurance Disability insurance Health insurance premiums Country club dues Health club dues Hospital Doctor Chiropractor Dentists Prescription drugs Over-the-counter drugs State taxes withheld Property taxes (ad valorem) Investment interest Mortgage interest (primary residence) Real estate taxes primary residence) Mortgage interest vacation residence - unallocated) Real estate taxes (vacation residence - unallocated) Charitable contributions (cash) Charitable contribution (clothes at FMV) Gambling losses $ 1,450 625 980 375 6,420 1,800 750 4,700 2,275 650 3,750 475 460 4,475 1.320 1,600 10,850 5,240 8,000 2,350 12,435 600 650 Complete their Schedule A on the back of this paper. Sequence N. 07 1 3 SCHEDULE A Itemized Deductions OMB No 1545-0074 (Form 1040) Go to www.irs.gov/Schedule for instructions and the latest information. 2020 Department of the Attach to Form 1040 or 1040-SR. Attachment Internal Power Service | Caution: If you are claiming a net qualified disaster loss on Form 4684, see the instructions for line 16. Names shown on Form 1040 Or 1040-SR Your social security number Medical Caution: Do not include expenses reimbursed or paid by others. and 1 Medical and dental expenses (soe instructions) Dental 2 Enter amount from Form 1040 or 1040-SR, line 112 Expeoses 3 Multiply ine 2 by 7.5% (0.075) 4 Subtract line 3 from line 1. If line 3 is more than line 1, enter-O- Taxes You 5 State and local taxes Paid 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. 5a b State and local real estate taxes (see instructions) c State and local personal property taxes. 5c d Add lines sa through sc. 5d e Enter the smaller of line 5d or $10,000 ($5,000 if married filing separately) 50 6 Other taxes. List type and amount 6 7 Add lines Se and 6 Interest 8 Home mortgage interest and points. If you didn't use all of your home You Paid mortgage loan(s) to buy, build, or improve your home, see Caution You instructions and check this box mortgage interest deduction may be a Home mortgage interest and points reported to you on Form 1098. See instructions if limited 8a hauction b Home mortgage interest not reported to you on Form 1098. See ins ctions 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 5b Imited 10 13 8b c Points not reported to you on Form 1098. See instructions for special rules 8c d Mortgage insurance premiums (see instructions) 8d e Add lines Ba through 8d 80 9 Investment interest. Attach Form 4952 if required. See instructions 9 10 Add lines 8o and 9 Gifts to 11 Gifts by cash or check. If you made any gift of $250 or more, see Charity instructions 11 Caution if you 12 Other than by cash or check. If you made any gift of $250 or more. made a grand got a benefit for it see instructions. You must attach Form 8283 if over $500 12 see ristructions 13 Carryover from prior year 14 Add lines 11 through 13 Casualty and 15 Casualty and theft loss(es) from a federally declared disaster (other than not qualified Theft Losses disaster losses). Attach Form 4684 and enter the amount from line 18 of that form. See instructions 15 Other 16 Other--from list in instructions. List type and amount Itemized Deductions Total 17 Add the amounts in the far right column for lines 4 through 16. Also, enter this amount on Itemized Form 1040 or 1040-SR, line 12 17 Deductions 18 If you elect to iternize deductions even though they are loss than your standard deduction, check this box.. For Paperwork Reduction Act Notice, see the Instructions for Forms 1040 and 1040-SR. Schedule A Form 10401 2020 14 16 Cat No. 17145C