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Based on the interview notes and the documents below, answer the following items relative to their 2020 Form 1040. If an amount is negative, put a minus () before the number. If an amount is zero, write 0 . The parenthetical reference for an item is to the 2020 forms and schedules. 15. Must Richard use his most current IP PIN to file his 2020 tax return? Yes/No INTERVIEW NOTES 1. Richard (DOB 03/11/1975, SSN 462-05-7777) is single. Richard's tax information was stolen and the IRS issued an Identity Protection Pin Number 654321 . Richard's mother Martha (DOB 06/12/1949, S5N 464-16-6666) lives in a nursing home in a neighboring state. In 2020, she received $7,800 in Social Security income. Although she uses this money for her support, Richard has records showing that he provided over half of her support in 2020. Richard and Martha are US citizens and have valid social security numbers. Richard did not have health insurance in 2020, but Martha is covered by Medicare. 2. Richard lost his job as a sales manager at Parker Industries in March when the state shut down due to the coronavirus pandemic. He received unemployment compensation for June and July. He went back to work in July as a sales manager at XYZ Corporation. 3. Richard took an early distribution from his IRA in April to help pay his living expenses while he was out of work. He will not repay this distribution by the due date of his 2020 tax return. 4. Richard settled with his credit card company on an outstanding bill and has received a Form 1099-C for 2020. Richard was solvent as of the date of the canceled debt. 5. Richard received the first Economic impact Payments (EIP) in April 2020 in the amount of $1,200. He did not receive the second 2020 EIP. 6. In April 2020, Richard began a landscaping service. He received a Form 1099-NEC and in addition also received cash receipts totaling $19,460 from various clients not reported on a tax form. Richard uses the cash method of accounting. He has receipts for the following expenses: Landscaping supplies $1,340 Business gifts to 5 clients (\$60 value per client gift) $300 Office expenses $380 New lawnmower purchased and put in service 4/1/20 $950 Advertising expense $250 Business contract labor $440 Business insurance $150 Work clothes suitable for everyday use \$285 Food/drinks consumed while working $95 2019 Ford F-150 truck placed in service 4/1/20: Business miles 1,480; total miles 9,543. Richard would like to take the maximum deduction for these expenses in 2020. On the truck, he will take the standard mileage rate. 7. Richard purchased a rent house on 1/2/2020 for $160,000($90,000 allocated to the structure and $70,000 allocated to the land). The address is 100 Drew Street, Houston, TX 77006. He immediately rented the house and has the following income and expenses for 2020: Richard actively participated in the management of the rent house but he does not qualify as a real estate professional. The rental activity is not a qualified trade/business. 8. For 2020, Richard made estimated quarterly tax payments in the amount of $500 per quarter. The payments were made by their due dates. They do not want to defer any self-employment tax payments for 2020 . Note: Manually or using tax software, complete the 2020 tax return, including Form 1040 and all appropriate forms, schedules, and worksheets. Answer the 15 questions above. When entering social security number (SSNs) or employer identification numbers (EINs). replace any Xs with digits of your choice. Roa WH=2 Wage and Tan staterrent Based on the interview notes and the documents below, answer the following items relative to their 2020 Form 1040. If an amount is negative, put a minus () before the number. If an amount is zero, write 0 . The parenthetical reference for an item is to the 2020 forms and schedules. 15. Must Richard use his most current IP PIN to file his 2020 tax return? Yes/No INTERVIEW NOTES 1. Richard (DOB 03/11/1975, SSN 462-05-7777) is single. Richard's tax information was stolen and the IRS issued an Identity Protection Pin Number 654321 . Richard's mother Martha (DOB 06/12/1949, S5N 464-16-6666) lives in a nursing home in a neighboring state. In 2020, she received $7,800 in Social Security income. Although she uses this money for her support, Richard has records showing that he provided over half of her support in 2020. Richard and Martha are US citizens and have valid social security numbers. Richard did not have health insurance in 2020, but Martha is covered by Medicare. 2. Richard lost his job as a sales manager at Parker Industries in March when the state shut down due to the coronavirus pandemic. He received unemployment compensation for June and July. He went back to work in July as a sales manager at XYZ Corporation. 3. Richard took an early distribution from his IRA in April to help pay his living expenses while he was out of work. He will not repay this distribution by the due date of his 2020 tax return. 4. Richard settled with his credit card company on an outstanding bill and has received a Form 1099-C for 2020. Richard was solvent as of the date of the canceled debt. 5. Richard received the first Economic impact Payments (EIP) in April 2020 in the amount of $1,200. He did not receive the second 2020 EIP. 6. In April 2020, Richard began a landscaping service. He received a Form 1099-NEC and in addition also received cash receipts totaling $19,460 from various clients not reported on a tax form. Richard uses the cash method of accounting. He has receipts for the following expenses: Landscaping supplies $1,340 Business gifts to 5 clients (\$60 value per client gift) $300 Office expenses $380 New lawnmower purchased and put in service 4/1/20 $950 Advertising expense $250 Business contract labor $440 Business insurance $150 Work clothes suitable for everyday use \$285 Food/drinks consumed while working $95 2019 Ford F-150 truck placed in service 4/1/20: Business miles 1,480; total miles 9,543. Richard would like to take the maximum deduction for these expenses in 2020. On the truck, he will take the standard mileage rate. 7. Richard purchased a rent house on 1/2/2020 for $160,000($90,000 allocated to the structure and $70,000 allocated to the land). The address is 100 Drew Street, Houston, TX 77006. He immediately rented the house and has the following income and expenses for 2020: Richard actively participated in the management of the rent house but he does not qualify as a real estate professional. The rental activity is not a qualified trade/business. 8. For 2020, Richard made estimated quarterly tax payments in the amount of $500 per quarter. The payments were made by their due dates. They do not want to defer any self-employment tax payments for 2020 . Note: Manually or using tax software, complete the 2020 tax return, including Form 1040 and all appropriate forms, schedules, and worksheets. Answer the 15 questions above. When entering social security number (SSNs) or employer identification numbers (EINs). replace any Xs with digits of your choice. Roa WH=2 Wage and Tan staterrent