• Note: This problem is for the 2019 tax year.

  Devon Bishop, age 45, is single. He lives at 1507 Rose Lane, Albuquerque, NM 87131. His Social Security number is 111-11-1117. Devon did not engage in any virtual currency transactions during the year, and he does not want $3 to go to the Presidential Election Campaign Fund.

  Devon's wife, Ariane, passed away in 2015. Devon's son, Tom, who is age 18, resides with Devon. Tom's Social Security number is 123-45-6788.

  Devon owns a sole proprietorship for which he uses the accrual method of accounting and maintains no inventory; the business operates as Devons Copy Shop, 422 E. Main Street, Albuquerque, NM 87131, IRS business activity code: 453990. His revenues and expenses for 2019 are as follows:

  Sales revenue	$740,000
  Cost of goods sold (based on purchases for the year)	405,000
  Salary expense	88,000
  Rent expense	30,000
  Utilities	8,000
  Telephone	6,500
  Advertising	4,000
  Bad debts	5,000
  Depreciation*	21,000
  Health insurance**	26,000
  Accounting and legal fees	7,000
  Supplies	1,000

  *New office equipment ($21,000); Devon chose to use the immediate expense election.

  ** $18,000 for employees and $8,000 for Devon.

  Other income received by Devon includes the following:

  Dividend income (qualified dividends):
  Swan, Inc.	$10,000
  Wren, Inc.	2,000
  Interest income:
  First National Bank	11,000
  Second City Bank	2,500
  County of Santa Fe, NM bonds	17,000

  During the year, Devon and his sole proprietorship were involved in the following property transactions. Stock transactions were reported to Devon on Form 1099B; basis was not reported to the IRS.

  Devon's potential itemized deductions, exclusive of the aforementioned information, are as follows.

  Medical expenses (before the 7.5% floor)	$9,500
  Property taxes on residence	5,800
  State income taxes	4,000
  Charitable contributions	10,000
  Mortgage interest on residence (First National Bank)	9,900
  Sales taxes paid	5,000

  During the year, Devon makes estimated Federal income tax payments of $35,000.

  Required:

  Compute Devon's lowest net tax payable or refund due for 2019 assuming that he makes any available elections that will reduce the tax. If you use tax forms for your computations, you will need Form 1040 and its Schedules 1, 2, 3, A, B, C, D, and SE and Forms 4562, 8824, 8949, and 8995 and the Qualified Dividends and Capital Gain Tax Worksheet.

  1. Sold Blue, Inc. stock for $45,000 on March 12, 2019. He had purchased the stock on September 5, 2016, for $50,000.
  2. Received an inheritance of $300,000 from his uncle, Henry. Devon used $200,000 to purchase Green, Inc. stock on May 15, 2019, and invested $100,000 in Gold, Inc. stock on May 30, 2019.
  3. Received Orange, Inc. stock worth $9,500 as a gift from his aunt, Jane, on June 17, 2019. Her adjusted basis for the stock was $5,000. No gift taxes were paid on the transfer. Jane had purchased the stock on April 1, 2013. Devon sold the stock on July 1, 2019, for $22,000.
  4. On July 15, 2019, Devon sold one-half of the Green, Inc. stock for $40,000.
  5. Devon was notified on August 1, 2019, that Yellow, Inc. stock he purchased from a colleague on September 1, 2018, for $52,500 had become worthless. Although he understood that investing in Yellow was risky, Devon did not anticipate that the corporation would declare bankruptcy.
  6. On August 15, 2019, Devon received a parcel of land in Phoenix worth $220,000 in exchange for a parcel of land he owned in Tucson. Because the Tucson parcel was worth $245,000, he also received $25,000 cash. Devon's adjusted basis for the Tucson parcel was $210,000. He originally purchased it on September 18, 2016.
  7. On December 1, 2019, Devon sold the condominium in which he had been living for the past 20 years (1844 Lighthouse Lane, Albuquerque, NM 87131) and moved into a rented townhouse. The sales price was $480,000, selling expenses were $28,500, and repair expenses related to the sale were $9,400. Devon purchased the condominium for $180,000.
  • Make realistic assumptions about any missing data.
  • If an amount box does not require an entry or the answer is zero, enter "0".
  • Enter all amounts as positive numbers, unless instructed otherwise.
  • It may be necessary to complete the tax schedules before completing Form 1040.
  • When computing the tax liability, do not round your immediate calculations. If required round your final answers to the nearest dollar.
  • Use the 2019 tax rate schedule provided. Do not use the Tax Tables.

schedule c selections:

Charitable contributions - Accounting fees - or Mortgage interest on residence

bad debts - medical expense (personal) - estimated tax payments

selling expenses (residence) - state income taxes(personal) - telephone

Form 2019 OMB No. 1545-0074 IRS Use Only Department of the Treasury-Internal Revenue Service (99) 1040 U.S. Individual Income Tax Return Filing Status Single Your first name and middle initial Last name Devon Bishop Ir joint return, spouse's first name and middle initial Your social security number 111-11-1117 Last name Spouse's social security number Apt. no. Home address (number and street). If you have a P.O. box, see instructions. 1507 Rose Lane City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Albuquerque, NM 87131 Presidential Election Campaign Check here if you, or your spouse ir filing jointly, want $3 to go to this lund. Checking a box below will not change your tax or refund. None Foreign country name Foreign province/state/county Foreign postal code Ir more than four dependents, see instructions and here Standard Deduction Someone can claim: None Age/Blindness You: None Spouse: None (2) Social Security number (3) Relationship to you Dependents (see instructions): (1) First name Last name (4) Vir qualifies for (see instructions): Child tax credit Credit for other dependents Yes Tom Bishop 123-45-6788 1 Wages, salaries, tips, etc. Attach Form(s) W-2 1 2a Tax-exempt interest .. 2a 2b b Taxable interest. Attach Sch. B if required b Ordinary dividends. Attach Sch. B if required Taxable amount 3a Qualified dividends... 3b 4a IRA distributions .... 4b c Pensions and annuities 4c Taxable amount. 4d 5a Social security benefits 5a b Taxable amount. 5b 6 Capital gain or loss). Attach Schedule D if required. If not required, check here 6 Standard Deduction for Single or Marriedriling separately. $12,200 Married filing jointly or Qualifying widow(er), $24,400 Head of household $18,350 If you checked any box under Standard 7a Other income from Schedule 1, line 9.. 7a b Add lines 1, 2, 3, 4, 40, 56, 6, and 7a. This is your total income 7b 8a Adjustments to income from Schedule 1, line 22. 8a b Subtract line Ba from line 75. This is your adjusted gross income Sb ITISTULUI Schedule A) 9 10 Qualified business income deduction. Attach Form 8995 or Form 8995-A. 10 11a Add lines 9 and 10.. 11a b Taxable income. Subtract line 1ta from line Sb. If zero or less, enter -- 11b BAA For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Form 1040 (2019) Form 1040 (2019) 111-11-1117 Page 2 Devon Bishop 12a Tax (see inst.) Check if any from Form(s): 10 8814 2 4972 30 12a b Add Schedule 2, line 3, and line 12a and enter the total. 12b 13a Child tax credit or credit for other dependents .. 13a 13b 14 b Add Schedule 3, line 7, and line 13a and enter the total. Subtract line 13b from line 12b. Ir zero or less, enter - - Other taxes, including self-employment tax, from Schedule 2 line 10 14 lll 15 15 16 Add lines 14 and 15. This is your total tax. 16 17 Federal income tax withheld from Forms W-2 and 1099 17 If you have a qualifying child attach Sch. EIC. If you have nontaxable combat pay, see instructions. 18 Other payments and refundable credits: a Earned income credit (EIC).... Additional child tax credit. Attach Schedule 8812 b 18a 18b American opportunity credit from Form 8863, line 8 c 18c Schedule 3, line 14.. 18d e Add lines 18a through 18d. These are your total other payments and refundable credits 18e 19 Add lines 17 and 18e. These are your total payments 19 Refund 20 20 Ir 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 Type: Checking Savings 21a Direct deposit? See instructions. d Account number 22 Amount of line 20 you want applied to your 2020 estimated tax 22 23 Amount Amount you owe. Subtract line 19 from line 16. For details on how to pay, see instructions 23 SCHEDULE 1 UMD NO. 155-0074 (Form 1040 or 1040-SR) Additional Income and Adjustments to Income 2019 Department of the Treasury Attach to Form 1040 or 1040-SR. Attachment Internal Revenue Service Go to www.irs.gov/ Form1040 for instructions and the latest information. Sequence No. 01 Name(s) shown on Form 1040 or 1040-SR Your social security number Devon Bishop 111-11-1117 At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual Yes No currency? Part 1 Additional Income 1 Taxable refunds, credits, or offsets of state and local income taxes 1 2a Alimony received .. 2a b Date of original divorce or separation agreement (see instructions) Business income or loss). Attach Schedule C... 3 4 5 5 6 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 F. Unemployment compensation ... Other income. List type and amount 6 7 7 8 9 Combine lines 1 through 8. Enter here and on Form 1040 or 1040-SR, line 7a 9 10 Part II Adjustments to Income 10 Educator expenses.. 11 Certain business expenses of reservists, performing artists, and fee-basis government officials. Attach Form 2106. 12 Health savings account deduction. Attach Form 8889 11 12 13 Moving expenses for members of the Armed Forces. Attach Form 3903 13 14 Deductible part of self-employment tax. Attach Schedule SE 14 15 15 Self-employed SEP, SIMPLE, and qualified plans.. 16 Self-employed health insurance deduction .. 16 17 17 Penalty on early withdrawal of savings. 18a Alimony paid. 18a b Recipient's SSN. c Date of original divorce or separation agreement (see instructions) IRA deduction. 19 19 20 Student loan interest deduction 20 21 Tuition and fees. Attach Form 8917 21 22 Add lines 10 through 21. These are your adjustments to income. Enter here and on Form 1040 or 1040-SR, line sa 22 SCHEDULE 2 OMB No. 1545-0074 (Form 1040 or 1040-SR) Additional Taxes 2019 Department of the Treasury Attach to Form 1040 or 1040-SR. Attachment Internal Revenue Service Go to www.irs.gov/ Form1040 for instructions and the latest information. Sequence No. 02 Name(s) shown on Form 1040 or 1040-SR Your social security number Devon Bishop 111-11-1117 Part I Tax 1 Alternative minimum tax. Attach Form 6251 1 2 Excess advance premium tax credit repayment. Attach Form 8962 2 3 Add lines 1 and 2. Enter here and include on Form 1040 or 1040-SR, line 12b. 3 Part II Other Taxes 4 Self-employment tax. Attach Schedule SE 5 5 6 6 7a 7b Unreported social security and Medicare tax from Form: a 4137 b 8919 Additional tax on IRAs, other qualified retirement plans, and other tax-favored accounts. Attach Form 5329 ir required ... 7a Household employment taxes. Attach Schedule H b Repayment of first-time homebuyer credit from Form 5405. Attach Form 5405 if required Taxes from: a Form 8959 b o Form 1960 Instructions; enter code(s) Section 965 net tax liability installment from Form 965-A.. 10 Add lines 4 through 8. These are your total other taxes. Enter here and on Form 1040 or 1040-SR, line 15..... 10 BAA For Paperwork Reduction Act Notice, see your tax return instructions. Schedule 2 (Form 1040 or 1040-SR) 2019 8 9 SCHEDULE 3 OMB No. 1545-0074 (Form 1040 or 1040-SR) Additional Credits and Payments 2019 Department of the Treasury Attach to Form 1040 or 1040-SR. Attachment Internal Revenue Service Go to www.irs.gov/Form1040 for instructions and the latest information. Sequence No. 03 Name(s) shown on Form 1040 or 1040-SR Your social security number Devon Bishop 111-11-1117 Part I Nonrefundable Credits 1 Foreign tax credit. Attach Form 1116 if required .. 2 Credit for child and dependent care expenses. Attach Form 2441 2 3 Education credits from Form 8863, line 19...... 4 Retirement savings contributions credit. Attach Form 8880 5 Residential energy credit. Attach Form 5695... 5 6 Other credits from Form: a3800 b 8801 CO 7 Add lines 1 through 6. Enter here and include on Form 1040 or 1040-SR, line 13b. Part II Other Payments and Refundable Credits 4 6 8 2019 estimated tax payments and amount applied from 2018 return 8 9 10 9 Net premium tax credit. Attach Form 8962.. 10 Amount paid with request for extension to file (see instructions) 11 Excess social security and tier 1 RRTA tax withheld. 12 Credit for federal tax on fuels. Attach Form 4136. 11 12 13 Credits from Form: a 2439 b Reserved C8B85 do 13 14 Add lines through 13. Enter here and on Form 1040 or 1040-SR, line 180 14 BAA For Paperwork Reduction Act Notice, see your tax return instructions. Schedule 3 (Form 1040 or 1040-SR) 2019 SCHEDULE A OMB No. 1545-0074 Itemized Deductions (Form 1040 or 1040-SR) Go to www.irs.gov/ScheduleA for instructions and the latest information. (Rev. January 2020) 2019 Attach to Form 1040 or 1040-SR. Department of the Treasury Attachment Caution: If you are claiming a net qualified disaster loss on Form 4684, see the Internal Revenue Service (99) Sequence No. 07 instructions for line 16. Name(s) shown on Form 1040 or 1040-SR Your social security number Devon Bishop 111-11-1117 Caution: Do not include expenses reimbursed or paid by others. Medical 1 Medical and dental expenses (see instructions) 1 and Dental 2 Enter amount from Form 1040 or 1040- Expenses 2 SR, line Sb... 3 Multiply line 2 by 7.5% (0.075) 3 | 211 4 Subtract line 3 from line 1. Ir line 3 is more than line 1, enter -O- 4 Taxes You Paid 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 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). 5b c State and local personal property taxes 5c 5d d Add lines Sa through Sc. e Enter the smaller of line 5d or $10,000 ($5,000 if married filing separately)... 6 Other taxes. List type and amount 5e 7 Add lines 5e and 6 Interest You Paid Caution: Your mortgage interest deduction may be limited (see instructions). 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 8b c Points not reported to you on Form 1098. See instructions for special rules d Mortage insurance premiums (see instructions) 8d e Add lines sa through &d . se 9 Investment interest. Attach Form 4952 if required. See instructions. 9 10 Add lines de and 9 10 11 Gifts by cash or check. If you made any gift of $250 or more, Gifts to Charity see instructions 11 Caution: 12 Other than by cash or check. If you made any gift of $250 or more, If you made a see instructions. You must attach Form 8283 if over $500 12 gift and got a 13 Carryover from prior year 13 benefit for it, See instructions. 14 Add lines 11 through 13 14 Casualty and 15 Casualty and theft loss(es) from a federally declared disaster (other than net qualified disaster Theft Losses losses). Attach Form 4684 and enter the amount from line 18 of that form. See instructions. 15 Other 16 Other-irom list in instructions. List type and amount Itemized Deductions 16 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 9. 17 Deductions 18 If you elect to itemize deductions even though they are less than your standard deduction, check this box.. BAA For Paperwork Reduction Act Notice, see the Instructions Schedule A (Form 1040 or 1040-SR) 2019 for forme 1000 and 1040.SR OMB No. 1545-0074 SCHEDULE B (Form 1040 or 1040-SR) Interest and Ordinary Dividends 2019 Department of the Treasury Internal Revenue Service (99) Go to www.irs.gov/Schedules for instructions and the latest information. Attach to Form 1040 or 1040-SR. Attachment Sequence No. 08 Name(s) shown on retum Devon Bishop Part I 1 Your social security number 111-11-1117 List name of payer. If any interest is from a seller-financed mortgage and the buyer Amount used the property as a personal residence, see the instructions and list this interest first. Also, show that buyer's social security number and address First National Bank Interest (See instructions and the instructions for Forms 1040 and 1040-SR, line 2b.) Second City Bank 1 Note: If you received a Form 1099-INT, Form 1099-OID, or substitute statement from a brokerage firm, list the firm's name as the payer and enter the total interest shown on that form. 2 Add the amounts on line 1 2 Excludable interest on series EE and I U.S. savings bonds issued after 1989. Attach Form 8815.. 3 4 Subtract line 3 from line 2. Enter the result here and on Form 1040 or 1040-SR, line 26 Note: If line 4 is over $1,500, you must complete Part III. Amount Part II 5 List name of payer Second City Bank Ordinary Dividends First National Bank SCHEDULE C Profit or Loss From Business OMB No. 1545-0074 (Form 1040 or 1040-SR) (Sole Proprietorship) 2019 Go to www.irs.gov/ Schedule for instructions and the latest information. Department of the Treasury Attach to Form 1040, 1040-SR, 1040-NR, or 1041; partnerships generally Attachment Internal Revenue Service (99) must file Form 1065. Sequence No. 09 Name of proprietor Social security number (SSN) Devon Bishop 111-11-1117 A Principal business or profession, including product or service (see instructions) B Enter code from instructions Devon's Copy Shop 453990 Business name. If no separate business name, leave blank. D Employer ID number (EIN) (see instr.) E Business address (including suite or room no.) 422 East Main Street F City, town or post office, state, and ZIP code Albuquerque NM 87131 Accounting method: (1) Cash (2) Accrual (3) Other (specify) Did you "materially participate in the operation of this business during 2019? Ir "No," see instructions for limit on losses. Yes No Yes No H If you started or acquired this business during 2019, check here..... 1 Did you make any payments in 2019 that would require you to file Form(s) 1099? (see instructions) Ir "Yes," did you or will you file required Forms 1099?.. Part I Income Yes No 1 Gross receipts or sales. See instructions for line 1 and check the box if this income was reported to you on Form W-2 and the Statutory employee" box on that form was checked. . 2 Returns and allowances 1 2 3 Subtract line 2 from line 1 3 Cost of goods sold (from line 42). 4 5 Gross profit. Subtract line 4 from line 3. 5 6 Other income, including federal and state gasoline or fuel tax credit or refund (see instructions) 6 7 Gross income. Add lines 5 and 6. 7 Part II Expenses. Enter expenses for business use of your home only on line 30. 8 Advertising 8 18 9 Car and truck expenses (see 19 18 Office expense (see instructions). 19 Pension and profit-sharing plans.... 20 Rent or lease see instructions): .... a Vehicles, machinery, and equipment instructions).. 9 10 Commissions and fees.. 10 20a 11 Contract labor (see instructions) 11 b Other business property 20b 12 Depletion.. 12 21 Repairs and maintenance. 21 13 Depreciation and section 179 22 Supplies (not included in Part III) 22 expense deduction (not included 23 Taxes and licenses 23 in Part III) (see instructions) ... 13 24 Travel and meals:. 14 Employee benefit programs a Travel 24a (other than on line 19)...... 14 b Deductible meals (see 15 Insurance (other than health).. 15 instructions). 24b 16 Interest (see instr.): 25 Utilities 25 a Mortgage (paid to banks, etc.) 16a 26 Wages (less employment credits)... 26 b Other 16b 27a Other expenses (from line 48).. 27a 27b 28 29 30 17 Legal and professional services 17 b Reserved for future use. 28 Total expenses before expenses for business use of home. Add lines 8 through 27a 29 Tentative profit or loss). Subtract line 28 from line 7. 30 Expenses for business use of your home. Do not report these expenses elsewhere. Attach Form 8829 unless using the simplified method (see instructions). Simplified method filers only: enter the total square footage of: (a) your home: and (b) the part of your home used for business: Use the Simplified Method Worksheet in the instructions to figure the amount to enter on line 30.. 31 Net profit or loss). Subtract line 30 from line 29. . If a profit, enter on both Schedule 1 (Form 1040 or 1040-SR), line 3 (or Form 1040-NR, line 13) and on Schedule SE, line 2 (If you checked the box on line 1, see instructions). Estates and trusts, enter on Form 1041, line 3. If a loss, you must go to line 32. } 32 If you have a loss, check the box that describes your investment in this activity (see instructions). If you checked 32a, enter the loss on both Schedule 1 (Form 1040 or 1040-SR), line 3 (or Form 1040-NR, line 13) and on Schedule SE, line . (If you checked the box on line 1, see the line 31 instructions). Estates and trusts, enter on Form 1041, line 3. . If you checked 32b, you must attach Form 6198. Your loss may be limited. 31 32a All investment is at risk 32b Some investment is not at risk. BAA For Paperwork Reduction Act Notice, see the separate instructions. Schedule C (Form 1040 or 1040-SR) 2019 Page 2 Schedule C (Form 1040 or 1040-SR) 2019 Devon Bishop 111-11-1117 Part III Cost of Goods Sold (see instructions) 33 Method(s) used to value closing inventory: a Cost b Lower of cost or market c Other (attach explanation) 34 Was there any change in determining quantities, costs, or valuations between opening and closing inventory? Ir "Yes," attach explanation ..... Yes 35 Inventory at beginning of year. If different from last year's closing inventory, attach explanation .. 35 No 36 Purchases less cost of items withdrawn for personal use. 36 37 37 Cost of labor. Do not include any amounts paid to yourself 38 Materials and supplies 38 39 Other costs. 39 40 Add lines 35 through 39 40 41 Inventory at end of year 41 42 Cost of goods sold. Subtract line 41 from line 40. Enter the result here and on line 4 42 Part IV Information on Your Vehicle. Complete this part only if you are claiming car or truck expenses on line 9 and are not required to file Form 4562 for this business. See the instructions for line 13 to find out if you must file Form 4562. 43 When did you place your vehicle in service for business purposes? (month, day, year) 44 or the total number of miles you drove your vehicle during 2019, enter the number of miles you used your vehicle for: a Business b Commuting (see instructions) c Other 45 was your vehicle available for personal use during off-duty hours? No 46 Do you (or your spouse) have another vehicle available for personal use? No 47a Do you have evidence to support your deduction?. Yes No b Ir "Yes," is the evidence written?. Yes Part V Other Expenses. List below business expenses not included on lines 8-26 or line 30. Yes Yes No 48 Total other expenses. Enter here and on line 27a 48 Schedule C (Form 1040 or 1040-SR) 2019 SCHEDULED Capital Gains and Losses OMB No. 1545-0074 (Form 1040 or 1040-SR) 2019 Attach to Form 1040, 1040-SR, or 1040-NR. Department of the Treasury Go to www.irs.gov/Scheduled for instructions and the latest information. Attachment Internal Revenue Service (99) Use Form 8949 to list your transactions for lines 1b, 2, 3, 86, 9, and 10. Sequence No. 12 Name(s) shown on retum Your social security number Devon Bishop 111-11-1117 Did you dispose of any investment(s) in a qualified opportunity fund during the tax year? Yes No Ir "Yes," attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss. Part I Short-Term Capital Gains and Losses - Generally Assets Held One Year or Less (see instructions) (h) Gain or See instructions for how to figure the amounts to enter on the (9) (loss) lines below. Adjustments to Subtract column (d) (e) gain or loss from (e) from column Proceeds (sales Cost (or other Form(s) 8949 Par This form may be easier to complete if you round off cents to (d) and combine price) basis) I line 2, column the result with whole dollars. (9) column (9) 1a Totals for all short-term transactions reported on Form 1099-B for which basis was reported to the IRS and for which you have no adjustments (see instructions). However, if you choose to report all these transactions on Form 8949, leave this line blank and go to line 1b .... 1b Totals for all transactions reported on Form(s) 8949 with Box A checked. 2 Totals for all transactions reported on Form(s) 8949 with Box B checked. 3 Totals for all transactions reported on Form(s) 8949 with Box C checked.. 4 Short-term gain from Form 6252 and short-term gain or loss) from Forms 4684,6781, and 8824..... 5 Net short-term gain or loss) from partnerships, Scorporations, estates, and trusts from Schedule(s) K-1 5 6 Short-term capital loss carryover. Enter the amount, if any, from line 8 of your capital Loss Carryover Worksheet in the instructions.. 7 Net short-term capital gain or loss). Combine lines ia through 6 in column (h). If you have any long-term capital gains or losses, go to Part II below. Otherwise, go to Part III on the back.. 7 Part IT Long-Term Capital Gains and Losses - Generally Assets Held More Than One Year (see instructions) (h) Gain or See instructions for how to figure the amounts to enter on the (9) (loss) lines below. Adjustments to Subtract column (d) (e) gain or loss from Proceeds (sales (e) from column Cost (or other Form(s) 8949, This form may be easier to complete if you round off cents to (d) and combine price) basis) Part II, line 2 whole dollars. the result with column (9) column (9) Ba Totals for all long-term transactions reported on Form 1099- B for which basis was reported to the IRS and for which you have no adjustments (see instructions). However, if you choose to report all these transactions on Form 8949, leave 4 6 9 Totals for all transactions reported on Form(s) 8949 with Box E checked. 10 Totals for all transactions reported on Form(s) 8949 with Box F checked. 11 Gain from Form 4797, Part I: long-term gain from Forms 2439 and 6252: and long-term gain or loss) from 11 Forms 4684, 6781, and 8824... 12 Net long-term gain or loss) from partnerships, Scorporations, estates, and trusts from Schedule(s) K-1 12 13 Capital gain distributions. See the instrs .. 13 14 Long-term capital loss carryover. Enter the amount, if any, from line 13 of your Capital Loss Carryover Worksheet in the instructions.. 15 Net long-term capital gain or loss). Combine lines sa through 14 in column (h). Then go to Part III on the back. 15 BAA For Paperwork Reduction Act Notice, see your tax return instructions. Schedule D (Form 1040 or 1040-SR) 2019 14 Devon Bishop 111-11-1117 Page 2 Schedule D (Form 1040 or 1040-SR) 2019 Part III Summary 16 16 Combine lines 7 and 15 and enter the result If line 16 is a gain, enter the amount from line 16 on Form 1040 or 1040-SR, line 6; or Form 1040-NR. line 14. Then go to line 17 below. If line 16 is a loss, skip lines 17 through 20 below. Then go to line 21. Also be sure to complete line 22. If line 16 is zero, skip lines 17 through 21 below and enter - O- on Form 1040 or 1040-SR, line 6; or Form 1040-NR, line 14. Then go to line 22. 17 Are lines 15 and 16 both gains? Yes. Go to line 18. No. Skip lines 18 through 21, and go to line 22. 18 If you are required to complete the 28% Rate Gain Worksheet (see instructions), enter the amount, ir any, from line 7 of that worksheet 18 19 If you are required to complete the Unrecaptured Section 1250 Gain Worksheet (see instructions), enter the amount, if any, from line 18 of that worksheet. 19 20 Are lines 18 and 19 both zero or blank? Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Forms 1040 and 1040-SR, line 12a (or in the instructions for Form 1040-NR, line 42). Don't complete lines 21 and 22 below. No. Complete the Schedule D Tax Worksheet in the instructions. Don't complete lines 21 and 22 below. 21 Ir line 16 is a loss, enter here and on Form 1040 or 1040-SR, line 6; or Form 1040-NR, line 14, the smaller of: 21 The loss on line 16; or ($3,000), or if married filing separately, ($1,500) } SCHEDULE SE OMB No. 1545-0074 (Form 1040 or 1040-SR) Self-Employment Tax 2019 Department of the Treasury Go to www.irs.gov/ScheduleSE for instructions and the latest information. Attachment Internal Revenue Service (99) Attach to Form 1040, 1040-SR, or 1040-NR. Sequence No. 17 Name of person with self-employment income (as shown on Form 1040, 1040-SR, or 1040-NR) Social Security number of person 111-11- Devon Bishop with self-employment income 1117 Before you begin: To determine if you must file Schedule SE, see the instructions. May I Use Short Schedule SE or Must I Use Long Schedule SE? Note: Use this flowchart only if you must file Schedule SE. Ir unsure, see Who Must Five Schedule SE in the instructions. Did you receive wages or tips in 2019? No Yes Yes Yes Are you a minister, member of a religious order, or Christian Science practitioner who received IRS approval not to be taxed on earnings from these sources, but you owe self-employment tax on other earnings? Was the total of your wages and tips subject to social security or railroad retirement (tier 1) tax plus your net earnings from self-employment more than $132,900? No No Yes Yes Are you using one of the optional methods to figure your net earnings (see instructions)? Did you receive tips subject to social security or Medicare tax that you didn't report to your employer? No No Yes Yes No Did you receive church employee income (see instructions) reported on Form W-2 of $108.28 or more? Did you report any wages on Form 8919, Uncollected Social Security and Medicare Tax on Wages? No You may use Short Schedule SE below You must use Long Schedule SE on page 2 la Section A - Short Schedule SE. Caution: Read above to see if you can use Short Schedule SE. la Net farm profit or loss) from Schedule F, line 34, and farm partnerships, Schedule K-1 (Form 1065), box 14, code A b If you received social security retirement or disability benefits, enter the amount of Conservation Reserve Program payments included on Schedule F, line 4b, or listed on Schedule K-1 (Form 1065), box 20, code AH. 2 Net profit or loss) from Schedule C, line 31; and Schedule K-1 (Form 1065), box 14, code A (other than farming). Ministers and members of religious orders, see instructions for types of income to report on this line. See instructions for other income to report .. 1b 2 3 Combine lines 1a, 1b, and 2 3 4 4 Multiply line 3 by 92.35% (0.9235). Ir less than $400, you don't owe self-employment tax; don't lile this schedule unless you have an amount on line 1b.... Note: If line 4 is less than $400 due to Conservation Reserve Program payments on line 1b, see instructions. 5 Self-employment tax. If the amount on line 4 is: $132,900 or less, multiply line 4 by 15.3% (0.153). Enter the result here and on Schedule 2 (Form 1040 or 1040-SR), line 4, or Form 1040-NR, line 55. More than $132,900, multiply line 4 by 2.9% (0.029). Then, add $16,479.80 to the result. Enter the total here and on Schedule 2 (Form 1040 or 1040-SR), line 4, or Form 1040-NR, line 55. 6 Deduction for one-half of self-employment tax. Multiply line 5 by 50% (0.50). Enter the result here and on Schedule 1 (Form 1040 or 1040-SR), line 14, or Form 1040-NR, line 27.... BAA For Paperwork Reduction Act Notice, see your tax return instructions. 6 Schedule SE (Form 1040 or 1040-SR) 2019 Form 2019 OMB No. 1545-0074 IRS Use Only Department of the Treasury-Internal Revenue Service (99) 1040 U.S. Individual Income Tax Return Filing Status Single Your first name and middle initial Last name Devon Bishop Ir joint return, spouse's first name and middle initial Your social security number 111-11-1117 Last name Spouse's social security number Apt. no. Home address (number and street). If you have a P.O. box, see instructions. 1507 Rose Lane City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Albuquerque, NM 87131 Presidential Election Campaign Check here if you, or your spouse ir filing jointly, want $3 to go to this lund. Checking a box below will not change your tax or refund. None Foreign country name Foreign province/state/county Foreign postal code Ir more than four dependents, see instructions and here Standard Deduction Someone can claim: None Age/Blindness You: None Spouse: None (2) Social Security number (3) Relationship to you Dependents (see instructions): (1) First name Last name (4) Vir qualifies for (see instructions): Child tax credit Credit for other dependents Yes Tom Bishop 123-45-6788 1 Wages, salaries, tips, etc. Attach Form(s) W-2 1 2a Tax-exempt interest .. 2a 2b b Taxable interest. Attach Sch. B if required b Ordinary dividends. Attach Sch. B if required Taxable amount 3a Qualified dividends... 3b 4a IRA distributions .... 4b c Pensions and annuities 4c Taxable amount. 4d 5a Social security benefits 5a b Taxable amount. 5b 6 Capital gain or loss). Attach Schedule D if required. If not required, check here 6 Standard Deduction for Single or Marriedriling separately. $12,200 Married filing jointly or Qualifying widow(er), $24,400 Head of household $18,350 If you checked any box under Standard 7a Other income from Schedule 1, line 9.. 7a b Add lines 1, 2, 3, 4, 40, 56, 6, and 7a. This is your total income 7b 8a Adjustments to income from Schedule 1, line 22. 8a b Subtract line Ba from line 75. This is your adjusted gross income Sb ITISTULUI Schedule A) 9 10 Qualified business income deduction. Attach Form 8995 or Form 8995-A. 10 11a Add lines 9 and 10.. 11a b Taxable income. Subtract line 1ta from line Sb. If zero or less, enter -- 11b BAA For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Form 1040 (2019) Form 1040 (2019) 111-11-1117 Page 2 Devon Bishop 12a Tax (see inst.) Check if any from Form(s): 10 8814 2 4972 30 12a b Add Schedule 2, line 3, and line 12a and enter the total. 12b 13a Child tax credit or credit for other dependents .. 13a 13b 14 b Add Schedule 3, line 7, and line 13a and enter the total. Subtract line 13b from line 12b. Ir zero or less, enter - - Other taxes, including self-employment tax, from Schedule 2 line 10 14 lll 15 15 16 Add lines 14 and 15. This is your total tax. 16 17 Federal income tax withheld from Forms W-2 and 1099 17 If you have a qualifying child attach Sch. EIC. If you have nontaxable combat pay, see instructions. 18 Other payments and refundable credits: a Earned income credit (EIC).... Additional child tax credit. Attach Schedule 8812 b 18a 18b American opportunity credit from Form 8863, line 8 c 18c Schedule 3, line 14.. 18d e Add lines 18a through 18d. These are your total other payments and refundable credits 18e 19 Add lines 17 and 18e. These are your total payments 19 Refund 20 20 Ir 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 Type: Checking Savings 21a Direct deposit? See instructions. d Account number 22 Amount of line 20 you want applied to your 2020 estimated tax 22 23 Amount Amount you owe. Subtract line 19 from line 16. For details on how to pay, see instructions 23 SCHEDULE 1 UMD NO. 155-0074 (Form 1040 or 1040-SR) Additional Income and Adjustments to Income 2019 Department of the Treasury Attach to Form 1040 or 1040-SR. Attachment Internal Revenue Service Go to www.irs.gov/ Form1040 for instructions and the latest information. Sequence No. 01 Name(s) shown on Form 1040 or 1040-SR Your social security number Devon Bishop 111-11-1117 At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual Yes No currency? Part 1 Additional Income 1 Taxable refunds, credits, or offsets of state and local income taxes 1 2a Alimony received .. 2a b Date of original divorce or separation agreement (see instructions) Business income or loss). Attach Schedule C... 3 4 5 5 6 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 F. Unemployment compensation ... Other income. List type and amount 6 7 7 8 9 Combine lines 1 through 8. Enter here and on Form 1040 or 1040-SR, line 7a 9 10 Part II Adjustments to Income 10 Educator expenses.. 11 Certain business expenses of reservists, performing artists, and fee-basis government officials. Attach Form 2106. 12 Health savings account deduction. Attach Form 8889 11 12 13 Moving expenses for members of the Armed Forces. Attach Form 3903 13 14 Deductible part of self-employment tax. Attach Schedule SE 14 15 15 Self-employed SEP, SIMPLE, and qualified plans.. 16 Self-employed health insurance deduction .. 16 17 17 Penalty on early withdrawal of savings. 18a Alimony paid. 18a b Recipient's SSN. c Date of original divorce or separation agreement (see instructions) IRA deduction. 19 19 20 Student loan interest deduction 20 21 Tuition and fees. Attach Form 8917 21 22 Add lines 10 through 21. These are your adjustments to income. Enter here and on Form 1040 or 1040-SR, line sa 22 SCHEDULE 2 OMB No. 1545-0074 (Form 1040 or 1040-SR) Additional Taxes 2019 Department of the Treasury Attach to Form 1040 or 1040-SR. Attachment Internal Revenue Service Go to www.irs.gov/ Form1040 for instructions and the latest information. Sequence No. 02 Name(s) shown on Form 1040 or 1040-SR Your social security number Devon Bishop 111-11-1117 Part I Tax 1 Alternative minimum tax. Attach Form 6251 1 2 Excess advance premium tax credit repayment. Attach Form 8962 2 3 Add lines 1 and 2. Enter here and include on Form 1040 or 1040-SR, line 12b. 3 Part II Other Taxes 4 Self-employment tax. Attach Schedule SE 5 5 6 6 7a 7b Unreported social security and Medicare tax from Form: a 4137 b 8919 Additional tax on IRAs, other qualified retirement plans, and other tax-favored accounts. Attach Form 5329 ir required ... 7a Household employment taxes. Attach Schedule H b Repayment of first-time homebuyer credit from Form 5405. Attach Form 5405 if required Taxes from: a Form 8959 b o Form 1960 Instructions; enter code(s) Section 965 net tax liability installment from Form 965-A.. 10 Add lines 4 through 8. These are your total other taxes. Enter here and on Form 1040 or 1040-SR, line 15..... 10 BAA For Paperwork Reduction Act Notice, see your tax return instructions. Schedule 2 (Form 1040 or 1040-SR) 2019 8 9 SCHEDULE 3 OMB No. 1545-0074 (Form 1040 or 1040-SR) Additional Credits and Payments 2019 Department of the Treasury Attach to Form 1040 or 1040-SR. Attachment Internal Revenue Service Go to www.irs.gov/Form1040 for instructions and the latest information. Sequence No. 03 Name(s) shown on Form 1040 or 1040-SR Your social security number Devon Bishop 111-11-1117 Part I Nonrefundable Credits 1 Foreign tax credit. Attach Form 1116 if required .. 2 Credit for child and dependent care expenses. Attach Form 2441 2 3 Education credits from Form 8863, line 19...... 4 Retirement savings contributions credit. Attach Form 8880 5 Residential energy credit. Attach Form 5695... 5 6 Other credits from Form: a3800 b 8801 CO 7 Add lines 1 through 6. Enter here and include on Form 1040 or 1040-SR, line 13b. Part II Other Payments and Refundable Credits 4 6 8 2019 estimated tax payments and amount applied from 2018 return 8 9 10 9 Net premium tax credit. Attach Form 8962.. 10 Amount paid with request for extension to file (see instructions) 11 Excess social security and tier 1 RRTA tax withheld. 12 Credit for federal tax on fuels. Attach Form 4136. 11 12 13 Credits from Form: a 2439 b Reserved C8B85 do 13 14 Add lines through 13. Enter here and on Form 1040 or 1040-SR, line 180 14 BAA For Paperwork Reduction Act Notice, see your tax return instructions. Schedule 3 (Form 1040 or 1040-SR) 2019 SCHEDULE A OMB No. 1545-0074 Itemized Deductions (Form 1040 or 1040-SR) Go to www.irs.gov/ScheduleA for instructions and the latest information. (Rev. January 2020) 2019 Attach to Form 1040 or 1040-SR. Department of the Treasury Attachment Caution: If you are claiming a net qualified disaster loss on Form 4684, see the Internal Revenue Service (99) Sequence No. 07 instructions for line 16. Name(s) shown on Form 1040 or 1040-SR Your social security number Devon Bishop 111-11-1117 Caution: Do not include expenses reimbursed or paid by others. Medical 1 Medical and dental expenses (see instructions) 1 and Dental 2 Enter amount from Form 1040 or 1040- Expenses 2 SR, line Sb... 3 Multiply line 2 by 7.5% (0.075) 3 | 211 4 Subtract line 3 from line 1. Ir line 3 is more than line 1, enter -O- 4 Taxes You Paid 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 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). 5b c State and local personal property taxes 5c 5d d Add lines Sa through Sc. e Enter the smaller of line 5d or $10,000 ($5,000 if married filing separately)... 6 Other taxes. List type and amount 5e 7 Add lines 5e and 6 Interest You Paid Caution: Your mortgage interest deduction may be limited (see instructions). 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 8b c Points not reported to you on Form 1098. See instructions for special rules d Mortage insurance premiums (see instructions) 8d e Add lines sa through &d . se 9 Investment interest. Attach Form 4952 if required. See instructions. 9 10 Add lines de and 9 10 11 Gifts by cash or check. If you made any gift of $250 or more, Gifts to Charity see instructions 11 Caution: 12 Other than by cash or check. If you made any gift of $250 or more, If you made a see instructions. You must attach Form 8283 if over $500 12 gift and got a 13 Carryover from prior year 13 benefit for it, See instructions. 14 Add lines 11 through 13 14 Casualty and 15 Casualty and theft loss(es) from a federally declared disaster (other than net qualified disaster Theft Losses losses). Attach Form 4684 and enter the amount from line 18 of that form. See instructions. 15 Other 16 Other-irom list in instructions. List type and amount Itemized Deductions 16 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 9. 17 Deductions 18 If you elect to itemize deductions even though they are less than your standard deduction, check this box.. BAA For Paperwork Reduction Act Notice, see the Instructions Schedule A (Form 1040 or 1040-SR) 2019 for forme 1000 and 1040.SR OMB No. 1545-0074 SCHEDULE B (Form 1040 or 1040-SR) Interest and Ordinary Dividends 2019 Department of the Treasury Internal Revenue Service (99) Go to www.irs.gov/Schedules for instructions and the latest information. Attach to Form 1040 or 1040-SR. Attachment Sequence No. 08 Name(s) shown on retum Devon Bishop Part I 1 Your social security number 111-11-1117 List name of payer. If any interest is from a seller-financed mortgage and the buyer Amount used the property as a personal residence, see the instructions and list this interest first. Also, show that buyer's social security number and address First National Bank Interest (See instructions and the instructions for Forms 1040 and 1040-SR, line 2b.) Second City Bank 1 Note: If you received a Form 1099-INT, Form 1099-OID, or substitute statement from a brokerage firm, list the firm's name as the payer and enter the total interest shown on that form. 2 Add the amounts on line 1 2 Excludable interest on series EE and I U.S. savings bonds issued after 1989. Attach Form 8815.. 3 4 Subtract line 3 from line 2. Enter the result here and on Form 1040 or 1040-SR, line 26 Note: If line 4 is over $1,500, you must complete Part III. Amount Part II 5 List name of payer Second City Bank Ordinary Dividends First National Bank SCHEDULE C Profit or Loss From Business OMB No. 1545-0074 (Form 1040 or 1040-SR) (Sole Proprietorship) 2019 Go to www.irs.gov/ Schedule for instructions and the latest information. Department of the Treasury Attach to Form 1040, 1040-SR, 1040-NR, or 1041; partnerships generally Attachment Internal Revenue Service (99) must file Form 1065. Sequence No. 09 Name of proprietor Social security number (SSN) Devon Bishop 111-11-1117 A Principal business or profession, including product or service (see instructions) B Enter code from instructions Devon's Copy Shop 453990 Business name. If no separate business name, leave blank. D Employer ID number (EIN) (see instr.) E Business address (including suite or room no.) 422 East Main Street F City, town or post office, state, and ZIP code Albuquerque NM 87131 Accounting method: (1) Cash (2) Accrual (3) Other (specify) Did you "materially participate in the operation of this business during 2019? Ir "No," see instructions for limit on losses. Yes No Yes No H If you started or acquired this business during 2019, check here..... 1 Did you make any payments in 2019 that would require you to file Form(s) 1099? (see instructions) Ir "Yes," did you or will you file required Forms 1099?.. Part I Income Yes No 1 Gross receipts or sales. See instructions for line 1 and check the box if this income was reported to you on Form W-2 and the Statutory employee" box on that form was checked. . 2 Returns and allowances 1 2 3 Subtract line 2 from line 1 3 Cost of goods sold (from line 42). 4 5 Gross profit. Subtract line 4 from line 3. 5 6 Other income, including federal and state gasoline or fuel tax credit or refund (see instructions) 6 7 Gross income. Add lines 5 and 6. 7 Part II Expenses. Enter expenses for business use of your home only on line 30. 8 Advertising 8 18 9 Car and truck expenses (see 19 18 Office expense (see instructions). 19 Pension and profit-sharing plans.... 20 Rent or lease see instructions): .... a Vehicles, machinery, and equipment instructions).. 9 10 Commissions and fees.. 10 20a 11 Contract labor (see instructions) 11 b Other business property 20b 12 Depletion.. 12 21 Repairs and maintenance. 21 13 Depreciation and section 179 22 Supplies (not included in Part III) 22 expense deduction (not included 23 Taxes and licenses 23 in Part III) (see instructions) ... 13 24 Travel and meals:. 14 Employee benefit programs a Travel 24a (other than on line 19)...... 14 b Deductible meals (see 15 Insurance (other than health).. 15 instructions). 24b 16 Interest (see instr.): 25 Utilities 25 a Mortgage (paid to banks, etc.) 16a 26 Wages (less employment credits)... 26 b Other 16b 27a Other expenses (from line 48).. 27a 27b 28 29 30 17 Legal and professional services 17 b Reserved for future use. 28 Total expenses before expenses for business use of home. Add lines 8 through 27a 29 Tentative profit or loss). Subtract line 28 from line 7. 30 Expenses for business use of your home. Do not report these expenses elsewhere. Attach Form 8829 unless using the simplified method (see instructions). Simplified method filers only: enter the total square footage of: (a) your home: and (b) the part of your home used for business: Use the Simplified Method Worksheet in the instructions to figure the amount to enter on line 30.. 31 Net profit or loss). Subtract line 30 from line 29. . If a profit, enter on both Schedule 1 (Form 1040 or 1040-SR), line 3 (or Form 1040-NR, line 13) and on Schedule SE, line 2 (If you checked the box on line 1, see instructions). Estates and trusts, enter on Form 1041, line 3. If a loss, you must go to line 32. } 32 If you have a loss, check the box that describes your investment in this activity (see instructions). If you checked 32a, enter the loss on both Schedule 1 (Form 1040 or 1040-SR), line 3 (or Form 1040-NR, line 13) and on Schedule SE, line . (If you checked the box on line 1, see the line 31 instructions). Estates and trusts, enter on Form 1041, line 3. . If you checked 32b, you must attach Form 6198. Your loss may be limited. 31 32a All investment is at risk 32b Some investment is not at risk. BAA For Paperwork Reduction Act Notice, see the separate instructions. Schedule C (Form 1040 or 1040-SR) 2019 Page 2 Schedule C (Form 1040 or 1040-SR) 2019 Devon Bishop 111-11-1117 Part III Cost of Goods Sold (see instructions) 33 Method(s) used to value closing inventory: a Cost b Lower of cost or market c Other (attach explanation) 34 Was there any change in determining quantities, costs, or valuations between opening and closing inventory? Ir "Yes," attach explanation ..... Yes 35 Inventory at beginning of year. If different from last year's closing inventory, attach explanation .. 35 No 36 Purchases less cost of items withdrawn for personal use. 36 37 37 Cost of labor. Do not include any amounts paid to yourself 38 Materials and supplies 38 39 Other costs. 39 40 Add lines 35 through 39 40 41 Inventory at end of year 41 42 Cost of goods sold. Subtract line 41 from line 40. Enter the result here and on line 4 42 Part IV Information on Your Vehicle. Complete this part only if you are claiming car or truck expenses on line 9 and are not required to file Form 4562 for this business. See the instructions for line 13 to find out if you must file Form 4562. 43 When did you place your vehicle in service for business purposes? (month, day, year) 44 or the total number of miles you drove your vehicle during 2019, enter the number of miles you used your vehicle for: a Business b Commuting (see instructions) c Other 45 was your vehicle available for personal use during off-duty hours? No 46 Do you (or your spouse) have another vehicle available for personal use? No 47a Do you have evidence to support your deduction?. Yes No b Ir "Yes," is the evidence written?. Yes Part V Other Expenses. List below business expenses not included on lines 8-26 or line 30. Yes Yes No 48 Total other expenses. Enter here and on line 27a 48 Schedule C (Form 1040 or 1040-SR) 2019 SCHEDULED Capital Gains and Losses OMB No. 1545-0074 (Form 1040 or 1040-SR) 2019 Attach to Form 1040, 1040-SR, or 1040-NR. Department of the Treasury Go to www.irs.gov/Scheduled for instructions and the latest information. Attachment Internal Revenue Service (99) Use Form 8949 to list your transactions for lines 1b, 2, 3, 86, 9, and 10. Sequence No. 12 Name(s) shown on retum Your social security number Devon Bishop 111-11-1117 Did you dispose of any investment(s) in a qualified opportunity fund during the tax year? Yes No Ir "Yes," attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss. Part I Short-Term Capital Gains and Losses - Generally Assets Held One Year or Less (see instructions) (h) Gain or See instructions for how to figure the amounts to enter on the (9) (loss) lines below. Adjustments to Subtract column (d) (e) gain or loss from (e) from column Proceeds (sales Cost (or other Form(s) 8949 Par This form may be easier to complete if you round off cents to (d) and combine price) basis) I line 2, column the result with whole dollars. (9) column (9) 1a Totals for all short-term transactions reported on Form 1099-B for which basis was reported to the IRS and for which you have no adjustments (see instructions). However, if you choose to report all these transactions on Form 8949, leave this line blank and go to line 1b .... 1b Totals for all transactions reported on Form(s) 8949 with Box A checked. 2 Totals for all transactions reported on Form(s) 8949 with Box B checked. 3 Totals for all transactions reported on Form(s) 8949 with Box C checked.. 4 Short-term gain from Form 6252 and short-term gain or loss) from Forms 4684,6781, and 8824..... 5 Net short-term gain or loss) from partnerships, Scorporations, estates, and trusts from Schedule(s) K-1 5 6 Short-term capital loss carryover. Enter the amount, if any, from line 8 of your capital Loss Carryover Worksheet in the instructions.. 7 Net short-term capital gain or loss). Combine lines ia through 6 in column (h). If you have any long-term capital gains or losses, go to Part II below. Otherwise, go to Part III on the back.. 7 Part IT Long-Term Capital Gains and Losses - Generally Assets Held More Than One Year (see instructions) (h) Gain or See instructions for how to figure the amounts to enter on the (9) (loss) lines below. Adjustments to Subtract column (d) (e) gain or loss from Proceeds (sales (e) from column Cost (or other Form(s) 8949, This form may be easier to complete if you round off cents to (d) and combine price) basis) Part II, line 2 whole dollars. the result with column (9) column (9) Ba Totals for all long-term transactions reported on Form 1099- B for which basis was reported to the IRS and for which you have no adjustments (see instructions). However, if you choose to report all these transactions on Form 8949, leave 4 6 9 Totals for all transactions reported on Form(s) 8949 with Box E checked. 10 Totals for all transactions reported on Form(s) 8949 with Box F checked. 11 Gain from Form 4797, Part I: long-term gain from Forms 2439 and 6252: and long-term gain or loss) from 11 Forms 4684, 6781, and 8824... 12 Net long-term gain or loss) from partnerships, Scorporations, estates, and trusts from Schedule(s) K-1 12 13 Capital gain distributions. See the instrs .. 13 14 Long-term capital loss carryover. Enter the amount, if any, from line 13 of your Capital Loss Carryover Worksheet in the instructions.. 15 Net long-term capital gain or loss). Combine lines sa through 14 in column (h). Then go to Part III on the back. 15 BAA For Paperwork Reduction Act Notice, see your tax return instructions. Schedule D (Form 1040 or 1040-SR) 2019 14 Devon Bishop 111-11-1117 Page 2 Schedule D (Form 1040 or 1040-SR) 2019 Part III Summary 16 16 Combine lines 7 and 15 and enter the result If line 16 is a gain, enter the amount from line 16 on Form 1040 or 1040-SR, line 6; or Form 1040-NR. line 14. Then go to line 17 below. If line 16 is a loss, skip lines 17 through 20 below. Then go to line 21. Also be sure to complete line 22. If line 16 is zero, skip lines 17 through 21 below and enter - O- on Form 1040 or 1040-SR, line 6; or Form 1040-NR, line 14. Then go to line 22. 17 Are lines 15 and 16 both gains? Yes. Go to line 18. No. Skip lines 18 through 21, and go to line 22. 18 If you are required to complete the 28% Rate Gain Worksheet (see instructions), enter the amount, ir any, from line 7 of that worksheet 18 19 If you are required to complete the Unrecaptured Section 1250 Gain Worksheet (see instructions), enter the amount, if any, from line 18 of that worksheet. 19 20 Are lines 18 and 19 both zero or blank? Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Forms 1040 and 1040-SR, line 12a (or in the instructions for Form 1040-NR, line 42). Don't complete lines 21 and 22 below. No. Complete the Schedule D Tax Worksheet in the instructions. Don't complete lines 21 and 22 below. 21 Ir line 16 is a loss, enter here and on Form 1040 or 1040-SR, line 6; or Form 1040-NR, line 14, the smaller of: 21 The loss on line 16; or ($3,000), or if married filing separately, ($1,500) } SCHEDULE SE OMB No. 1545-0074 (Form 1040 or 1040-SR) Self-Employment Tax 2019 Department of the Treasury Go to www.irs.gov/ScheduleSE for instructions and the latest information. Attachment Internal Revenue Service (99) Attach to Form 1040, 1040-SR, or 1040-NR. Sequence No. 17 Name of person with self-employment income (as shown on Form 1040, 1040-SR, or 1040-NR) Social Security number of person 111-11- Devon Bishop with self-employment income 1117 Before you begin: To determine if you must file Schedule SE, see the instructions. May I Use Short Schedule SE or Must I Use Long Schedule SE? Note: Use this flowchart only if you must file Schedule SE. Ir unsure, see Who Must Five Schedule SE in the instructions. Did you receive wages or tips in 2019? No Yes Yes Yes Are you a minister, member of a religious order, or Christian Science practitioner who received IRS approval not to be taxed on earnings from these sources, but you owe self-employment tax on other earnings? Was the total of your wages and tips subject to social security or railroad retirement (tier 1) tax plus your net earnings from self-employment more than $132,900? No No Yes Yes Are you using one of the optional methods to figure your net earnings (see instructions)? Did you receive tips subject to social security or Medicare tax that you didn't report to your employer? No No Yes Yes No Did you receive church employee income (see instructions) reported on Form W-2 of $108.28 or more? Did you report any wages on Form 8919, Uncollected Social Security and Medicare Tax on Wages? No You may use Short Schedule SE below You must use Long Schedule SE on page 2 la Section A - Short Schedule SE. Caution: Read above to see if you can use Short Schedule SE. la Net farm profit or loss) from Schedule F, line 34, and farm partnerships, Schedule K-1 (Form 1065), box 14, code A b If you received social security retirement or disability benefits, enter the amount of Conservation Reserve Program payments included on Schedule F, line 4b, or listed on Schedule K-1 (Form 1065), box 20, code AH. 2 Net profit or loss) from Schedule C, line 31; and Schedule K-1 (Form 1065), box 14, code A (other than farming). Ministers and members of religious orders, see instructions for types of income to report on this line. See instructions for other income to report .. 1b 2 3 Combine lines 1a, 1b, and 2 3 4 4 Multiply line 3 by 92.35% (0.9235). Ir less than $400, you don't owe self-employment tax; don't lile this schedule unless you have an amount on line 1b.... Note: If line 4 is less than $400 due to Conservation Reserve Program payments on line 1b, see instructions. 5 Self-employment tax. If the amount on line 4 is: $132,900 or less, multiply line 4 by 15.3% (0.153). Enter the result here and on Schedule 2 (Form 1040 or 1040-SR), line 4, or Form 1040-NR, line 55. More than $132,900, multiply line 4 by 2.9% (0.029). Then, add $16,479.80 to the result. Enter the total here and on Schedule 2 (Form 1040 or 1040-SR), line 4, or Form 1040-NR, line 55. 6 Deduction for one-half of self-employment tax. Multiply line 5 by 50% (0.50). Enter the result here and on Schedule 1 (Form 1040 or 1040-SR), line 14, or Form 1040-NR, line 27.... BAA For Paperwork Reduction Act Notice, see your tax return instructions. 6 Schedule SE (Form 1040 or 1040-SR) 2019