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Need Help Filling out form 1 0 4 0 Schedule D and Form 8 9 4 9 with the amounts needed to fill out in
Need Help Filling out form Schedule D and Form with the amounts needed to fill out in each box of these forms. Thanks so much in advance. Using the forms and instructions downloadable using the links to the right prepare Form Schedule D and Form for the tax return for Jane Cole. Complete these forms based on the following facts.
Taxpayer Transaction Facts :
Stock options, which she purchased on February for $ expired on October Basis was reported by the brokerage company to the IRS.
On July she sells for $ her personaluse automobile acquired on March for $
On August she sells for $ her stock of York Corporation purchased as an investment on February for $ Basis was reported by the brokerage company to the IRS.
On March she sells for $ an antique ring, a gift from her grandmother on January when its FMV was $ The ring was purchased by her grandmother on April for $
She has an STCL carryover of $ from last year.
If you are uneasy about how to complete the forms, an example is provided in your textbook on pages through The example problem is "Example I: on page and the completed forms follow on the next pages. You should also reference the instructions for the forms with any questions about specific lines search for the instructions on the wwwirs.govLinks to an external site. or on Google: eg search "form instructions"
Use of tax software is strictly prohibited.
Submission Requirements: This assignment should be completed using the fillable PDF forms downloadable using the links above and must be submitted online in a PDF format. Be sure to print the completed forms to PDF format rather than just saving the fillable forms this ensures that when I access it the information you have entered into the forms will actually be there
Helpful Hints:
Note that gains on the sales of collectibles are taxed at a maximum rate of and therefore require completion of the Rate Gain Worksheet"...see Schedule D line
Note that Jane Cole is not required to complete the "Unrecaptured Section Gain Worksheet."
For purposes of this assignment, you do not have to complete the "Schedule D Tax Worksheet" in the instructions for Schedule D
Note that a stock option is a capital asset, and when allowed to expire, it is treated as though a sale has taken place with no amount realized on the sale see textbook page for more information When a stock option expires, it means the owner did not exercise the option to purchase a stock at a discounted exercise price.
Only the following transactions were reported to the taxpayer on Form B:
Expiration of stock options.
Sale of York Corporation stock.
Assume that there are no gains or losses reported on Forms DIV, or Schedule K
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