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PLZ HELP ME ASAPPPP During 2022, your clients, Mr. and Mrs. Howell, owned the following investment assets: No commissions are charged when no-load mutual funds

PLZ HELP ME ASAPPPP
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During 2022, your clients, Mr. and Mrs. Howell, owned the following investment assets: "No commissions are charged when no-load mutual funds are bought and sold. Because of the downturn in the stock market, Mr. and Mrs. Howell decided to sell most of their stocks and the mutual fund in 2022 and to reinvest in munieipal bonds. The following investment assets were sold in 2022: 'No commissions are charged when no-load mutual funds are bought and sold. The Howells' broker issued them a Form 1099-B showing the sales proceeds net of the commissions paid. For example, the I8M sales proceeds were reported as $15,900 on the Form 1099 . 8 they received. In addition to the sales reflected in the table above, the Howells provided you with the following additional information concerning 2022: - The Howells received a Form 1099-8 from the Vanguard mutual fund reporting a $900 long-term capital gain distribution. This distribution was reinvested in 31 additional Vanguard mutual fund shares on 6/30/2022. - In 2016, Mrs. Howell loaned $8,300 to a friend who was starting a new multilevel marketing company called LD3. The friend declared bankruptcy in 2022, and Mrs. Howell has been notified she will not be receiving any repayment of the loan. - The Howells have a $4,600 short-term capital loss carryover and a $7,100 long-term capital loss carryover from prior years. - The Howells did not instruct their broker to sell any particular lot of IBM stock. - The Howells earned $4,150 in municipal bond interest, $4,150 in interest from corporate bonds, and $6,300 in qualified dividends. - Assume the Howells have $187,500 of wage income during the year. Before you checi Box A, B, or C below, see whether you received any Form(s) 1099 . B or substitute statement(s) from your broker. A substitute statement withave the same information as Form 1099-8. Either will show whether your basis (usually your cost) was reported fo the IRS by your broker and may even telf you which Box to check. for each applicable bax. If you have more short-term transactions than wil fit on this page for one or more of the boxes, complete as many lorms with the same box checked as you need (A) Short-term transactions reported an Form(s) 1099-8 showing basis was reported to the IRS (50e Note above) (B) Shonterm transactons reported on Foem(8) 1099-B showing basis wasnt reported to the IRS (C) Shorterm transactiont not reporied to you on Form 10998 esch applicable box. if you have mive lang-4erm transactions than wil st on this page for one or more of the boxes, complete as many forms wish the same box checked as you need (0) Longtem vansacione reported on Formis) 1099.8 showing basis was reported to the IRS (see Noto above) (E) Long-tent transactions reported on Form(0) 1099-8 showing basis wasn't reported to the IRS: Form 8949 Schedule D. If "Yes," attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss. 15 Net bang-term captal gain or (loss). Combine lnes 8a through 14 in column (b). Then, go to Part ill on the back For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 11338H Schedule D (Form 1040 or 10405R ) 2021

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