Prepare an income tax return (with appropriate schedules) for the Taxpayers for 2019, using the following guidelines and information:
The Taxpayers choose to file ajoint income tax return
The Taxpayers do not wish to contribute to the Presidential Elections Campaign Fund. The Taxpayers do not own any foreign bank accounts or other investments.
The Taxpayers have not engaged in any virtual currency transactions The Taxpayers prefer to receive any refund of overpaid taxes.
For the past several years, the Taxpayers have itemized their deductions from AGI instead of using the standard deduction.
The taxpayers have the necessary substantiation (e.g., records, receipts) to support all transactions reported in their tax return.
Make necessary assumptions for information not given in the problem but needed to complete the return.
Bill Taxlaw (age 53) and Mary Taxpayer (age 45) are married and live at 426 East Oak, Carbondale, IL 62901. Bill has been promoted to Vice President for Com-Pac a local flexible packaging manufacturer and Mary is a self-employed attorney. They are calendar-year, cash-basis taxpayers.
The taxpayers are not tax savvy so they provided you with all the following infonnation.
- Bill's w-2 is attached. Bill participates in his employer's group health insurance plan to which he contributed $3,600 in 20 19 for medical coverage. These contributions were made with after-tax dollars. The health plan covers Bill, Mary, and their two children. Com-Pac does not provide any retirement benefits. On January 15, 2020 Bill contributed $5,500 to his Individual Retirement Account for 2019. The company provides an office for Bill's use that is located at 110 North Round Street, Suite 217, Carbondale, IL.
- Besides the business use of his car (see item 3 below), Bill's out-of-pocket employment related expenses for 2019 are as follows:
Airfare $2600
Lodging $3200
Meals $3400
Entertainment $800
Car rentals limos, taxis $600
Parking and tolls 300
Subscriptions to trade journals 120
Dues to trade association 80
Business gifts 550
Bill presented the business gifts in late December to Managers at ComPac, with each manager receiving a $50 gift card to a local retailer. Other than the business gifts and use of his car, ComPac reimbursed Bill for all the other employment related expenses pursuant to its accountable plan.
3. On March 5, 2017, Bill purchased a new Ford Focus for use in his job. The Car cost $34,000 (including sales tax), with no trade-in involved. The car was driven 12,000 miles in 20 17 and 18,000 miles in 2018 and 12,000 miles in 2019 with usage as follows: 20% for commuting to the office and 80% for business trips. The mileage for 2019 was evenly distributed throughout the year. Bill uses the actual operating cost method , and for depreciation purposes uses 200% declining-balance with a half-year convention. In addition, Bill does not claim any sec. 179 expensing or additional first year depreciation when he bought the car. (See Table 3 of the Instructions to Form 4562.) Bill 's expenses related to operation the Ford Focus for 2019 are as follows:
Gasoline 3000
Oil change and lurication 250
Auto insurance 2000
Repairs 400
Auto club dues 160
License and registration 160
Interest on car loan 500
4. Mary is a licensed attorney who works part time on a consulting basis. Her major clients are marijuana production facilities for whom she prepares contracts. Mary collected $ 98,000 in consulting fees during 2019. Of the fees collected she deposited a pre-payment fee of $5,000 into her lawyer 's trust account on December 28th and will draw on those funds as she performs work for the client and issues an invoice. She performed no work for that client in 2019. Mary does her work at the client's premises or in her office at home (see item 5 below). Her business expenses for 2019 are as follows:
Supplies 7000
Library materials 2000
Expert fees 1000
Professional license fees 400
Subscription to professional journals 350
Dues to professional organizations 500
Attorney Subcontractor fees paid(1099s issues) 15,000
In addition, Mary drove the family Acura (purchase on June 7, 2018) 1,050 miles on her job assignments. She uses the standard mileage method to deduct business costs related to the Acura. During 2019, Mary drove the car a total of 8,200 miles. Mary would like to a contribution to a traditional IRA account in an amount equal to the maximum amount allowed her for a deduction.
5. When the Taxpayers purchased their home on February 2, 20 13, they set aside 300 square Feet (out of a total of 2,400 square feet) of living space for Mary's office. As of January1, 2019, the home has a cost basis of $240,000 (of which $40,000 is anributable to the land) -the fair market value of the property is in excess of this amount. Relevant information concerning the residence for all of 20 19 follows:
Homeowners insurance $3200
Repairs and maintenance 2,000
Utilities 6,800
Home phone 1,200
Real estate taxes 6,700
On March 21, 2019, she purchased a computer, printer and scanner for $4,000.00. If possible, Mary prefers to avoid depreciating capital expenditures.
6. On November 2, 20 19, Mary sold a tract of land in McCook County to a fanner who owned the adjoining property. The land was inherited from her uncle who died June 6, 1993. Her Uncle paid $15,000 for the property and it was worth $60,000 on June 6, 1993. Under the terms of the sale, Mary received cash of $150,000.
7. Stock and Bond Transactions are reflected on the attached 1099s.
8. Besides the items previously noted the taxpayers had the following additional receipts for 2019:
Interest income:
City of carbondale bonds $1,200
General motors corporate bonds 1,400
Castle Bank certificate deposit 200
Loan repayment received from a friend, Sarah Taxpayer- Caine 4,500
Cash gifts from Mary;s parents 32,000
State income taxrefund(2018 return) 1,290
9. In addition to the items already noted, the taxpayers had the following expenditures for 2019:
Mary's contribution to traditional IRA $3,000
Net gambling loss 2000
Life insurance premiums 1800
Medical and dental expenses not covered by insurance 4200
Taxes:
Real estate taxes on personal residence 6700
Real estate taxes on 40 acres in missouri 3000
State and local sales taxes 3200
Interest on home mortgage 5800
Cash contributions:
Goodwill (carbondale branch) 1200
Illinois governor's election campaign 300
The $2,000 net gambling loss for 2019 is the difference between the Taxpayers' gambling winnings of $4,000 and losses of $6,000. Included in the medical expenses are $1,200 incurred in 2018, which was paid in early June 2019. The Taxpayers can substantiate the $3,200 in sales taxes paid based on their purchase receipts for the year.
10. The Taxpayers maintain a household that includes their two children, Andrew and Sandy. Andrew is a Junior in high school. Sandy graduated from high school on June 7, 2016, and is still undecided about college. Sandy is an accomplished babysitter and during 2019 earned $10,200. She places most of her earnings in a savings account and kept only a small amount to spend on herself.
11. The Taxlaw's have made quarterly federal income tax payments of $5,000 and state income estimated payments of $3,000 each quarter. The payments were made on the due dates.
12. Relevant social security numbers and dates of birth are as follows:
Name Social security number DOB
Bill S. Taxlaw 111-11-1111 2/1/77
Mary N. Taxlaw 123-45-6787 1/19/76
Sandy J. Taxlaw 123-45-6788 9/5/2001
Andrew W. Taxlaw 123-45-6789 3/15/2003
13.Mary also provides you with a K-1 form for a partnership in which she invested last year. The partnership owns rental real estate but Mary does not participate in the operations.
a Employee's social security number dise- file accurate, Visit the FASTI 111-11-1111 b Employer identification number (EIN) 37-1314234 c Employer's name, address, and ZIP code Com-Pac 110 N Round St Carbondale, IL 62901 Safe, IRS website at OMB No 1545-0008 Usewww.irs.gov/efile 1 Wages, tips, other compensation 210,000.00 3 Social security wages 128,400.00 5 Medicare wages and tips 210,000.00 7 Social security tips 2 Federal income tax withheld 47,000.00 4 Social security tax withheld 7,961.00 6 Medicare tax withheld 3,045.00 B Allocated tips d Control number 9 10 Dependent care benefits e Employee's Name & Address 11 Nonqualified plans 12a nstructions for box 12 D 10,000.00 William Taxlaw 426 East Oak Carbondale, IL 62901 13 Statutory Retirement Third-party employee par 12b sick pay 14 Other 12c 12d ad Employer's state ID number 15 State Illinois 16 State wages, tips, etc. 17 State income tax 210,000.00 6,000 18 Local wages, tips, etc. 19 Local income tax 20 Locality name Wage and Tax Department of the Treasury-Internal Revenue Service Form W-2 Statement 2019 F1 Amended K-1 OMB No 1545-0123 Part III Partner's Share of Current Year Income, Deductions, Credits, and Other Items 1 Ordinary business com os 15 Credits 2019 anding 2 Net rental real estate income fosse -5727 3 Othernet rental income do 16 Foreign transactions da Guaranteed payments for 4b Guard payments for capital 40 Total guaranteed payments 5 here income 75 6 Ordinary dividends 125 Schedule K-1 (Form 1065) Department of the Treasury Internal Revenue Service For alendar year 2018 or tax year beginning Partner's Share of Income, Deductions, Credits, etc. See back of form and separate instructions Parti Information About the Partnership A Partnership's employer identification number 72-1009882 B Partnership address, city, and ZIP code ABC Real Estate Partnership 147 S Illinois carbondale, IL 62901 CIRS Carter whore pomp Nedretum Kansas City D Check if this is a publicly traded partnership PTP Part II Information About the Partner E Partners or TI Do not use TIN of a cigarded entity Sent) 123-45-6787 F Name, address, city, and IP code for partner entered in E Sections, Mary Taxlaw 426 East Oak St Carbondale, IL 62901 o General partner LLC Limited partner or other LLC member-manager member H1 Domestic partner Foreign the H2 the partner is a disregarded antity (DE), enter the partner's TIN Name What type of only in this partner? Individual 12 this partner is a trement plan (RASEP/Kroget.Icheck here Partnet's star of pro, loss, and capital instruction Beginning Ending Profit 50 Los 50 % Capital Check it decis due to sale or exchange of prisipin 6b Qualified dividends 100 to Dividend equivalent 17 Alemaeus AM) 7 Royalties a Net short-term capital gain fossi Sa Natlong term capital gains 18 Tempt income and mordeduction 5 Colucht (70) gain doo 11 3c Unrecaptured section 1250 gain J 10 Net section 1731 gunosa 19 Doutons 50 50% SO 11 Other income 50% 20 Other information 12 Section 179 on 13 Other actions K Part's where ofte Beginning Ending Nontours Quadrorecourse financing $ Pecourt $ Check this boxen Kindudes lobby mistrom lower der pasi L Partner's Capital Account Analysis 14 Selemployment Gaming 2005) 46,545 -5527 Beginning capital account $ Capital contributed during the year $ Current year net income $ Other interesach planos Withdrawasions S Ending capital account 3,000 38,018 21 D More than one activity for risk purposes 22 More than one activity for passive activity pups See attached statement for additional information, M Did the partner contribute property with a built-in gain or loss? If "Yes, woment structions Use Only Page 1 of 7 D Ameritrade Tax Information Account 44444444 Statement Date: 01/16/2020 Document ID: 346M OV4 7550 2019 Herber FNASIR PO BOX 2209 OMAHA, NE 68103-2209 Client Services: 800-669-3900 WILLIAM & MARY TAXLAW 426 East Oak St Carbondale IL 62901 PAYER'S TIN: 47-0533629 RECIPIENT'S TIN: XXX-XX-1111 - SUSTUS 3- Nondividend distributions 0.00 4- Federal income tax withheld 0.00 5- Section 199A dividends 0.00 6- Investment expenses 0.00 8- Foreign country or US possession: 7- Foreign tax paid: 0.00 9- Cash liquidation distributions 0.00 If applicable, proceeds from sale transactions appear summarized below and are , 10-Noncash liquidation distributions 0.00 detailed in subsequent sections of this document. 11- Exempt-interest dividends (includes line 12) 0.00* This Is Important tax information and is being furnished to the Internal Revenue 12- Specified private activity bond interest dividends (AMT) 0.00 Service. If you are required to file a return, - a FATCA ding requirememegane Instructions) 5 Summary Information 9190 DIVIDENDS AND DISTRIBUTIONS 2019 1099-DIV* OMB No 1545-0110 MISCELLANEOUS INCOME 2019 1099-MISC* OMB No. 1545-11S 1a- Total ordinary dividends (includes lines 1b, 5) 2,500.00 2- Royalties 0.00 1b-Qualified dividends 1.500.00 3- Other income 0.00 2a-Total capital gain distributions (includes lines 2b, 2c, 2d) 0.00 4- Federal Income tax withheld 0.00 2b- Unrecaptured Section 1250 gain 0.00 8- Substitute payments in lieu of dividends or interest 0.00 2c-Section 1202 gain 0.00 2d- Collectibles (28%) gain 0.00 SECTION 1256 CONTRACTS 2019 1099-B* OMB No. 1545-0715 a negligence penalty or other sanction may be imposed on you if this income is taxable and the IRS determines that it has not been reported. SUMMARY OF PROCEEDS, GAINS & LOSSES, ADJUSTMENTS AND WITHHOLDING Activate Wing Go to Settings to Long 0.00 Page 2 of Refer to the 1099-B and Proceeds not reported to the IRS pages to ensure that you consider all relevant items and to determine the correct gains and losses. The amounts shown below are for informational Term Form 8949 type Proceeds Cost basis Market discount Short Wash sale loss disallowed Net gain or loss(-) A (basis reported to the IRS) 1,282.45 2,211.36 0.00 0.00 -928.91 Short B (basis not reported to the IRS) 0.00 0.00 0.00 Short 0.00 0.00 C (Form 1099-8 not received) 0.00 0.00 0.00 0.00 0.00 Total Short-term 1,282.45 2,211.36 0.00 0.00 -928.91 D(basis reported to the IRS) 0.00 0.00 0.00 0.00 0.00 Long E (basis not reported to the IRS) 0.00 0.00 0.00 0.00 F (Form 1099-B not received) 0.00 0.00 0.00 0.00 0.00 Total Long-term 0.00 0.00 0.00 0.00 0.00 Undetermined Bor E (basis not reported to the IRS) 0.00 0.00 0.00 0.00 0.00 Undetermined Cor F (Form 1099-B not received) 0.00 0.00 0.00 0.00 0.00 Total Undetermined-term 0.00 0.00 0.00 0.00 0.00 Grand total 1,282.45 2.211.36 0.00 0.00 -928.91 Withholding Amount purposes Long 0.00 8- Profit or loss) realized in 2019 on closed contracts 0.00 9- Unrealized profit or loss) on open contracts-12/31/2018 0.00 10- Unrealized profit or loss) on open contracts-12/31/2019 0.00 11- Aggregate profit or loss) on contracts 0.00 Federal income tax withheld 0.00 Changes to dividend tax classifications processed after your original tax form is issued for 2019 may require an amended tax form. TD Ameritrade Clearing, Inc. Account 44444444 Summary Information 2019 (continued) 01/16/2020 INTEREST INCOME 2019 1099-INT OMB No 15.45.01.12 13- Bond premium on tax-exempt bonds (categorized below) This is important tax information and is being furnished to the Internal Revenue Service. Tax-exempt obligations (covered lots) 0.00 If you are required to file a return, a negligence penalty or other sanction may be Tax-exempt private activity obligations (AMT, covered lots) 0.00 imposed on you if this income is taxable and the IRS determines that it has not been 14- Tax-exempt and tax credit bond CUSIP number See detail reported. 1- Interest income (not included in line 3) 101.13 2- Early withdrawal penalty ORIGINAL ISSUE DISCOUNT AND ADJUSTMENTS 0.00 3- Interest on US Savings Bonds & Treasury obligations 0.00 4- Federal income tax withheld 0.00 Use bond-by-bond details from the Form 1099-OID page(s) to determine amounts of 5- Investment expenses 0.00 Original Issue Discount income for your income tax return(s). The amounts shown in this 7- Foreign country or US possession: 6- Foreign tax paid section are for your reference when preparing your income tax retur(s). 8- Tax-exempt interest (includes line 9) 0.00 Original issue discount for 2019 0.00 9- Specified private activity bond interest (AMT) 0.00 10- Market discount (covered lots) Acquisition premium (covered lots) 0.00 0.00 Acquisition premium (noncovered lots) 0.00 11- Bond premium (covered lots) Original issue discount on Treasury obligations 0.00 12- Bond premium on Treasury obligations (covered lots) 0.00 Acquisition premium, Treasury obligations (covered lots) 0.00 Go to Setting 0.00 0.00 Activate v TD Ameritrade Clearing, Inc. Account 44444444 Proceeds from Broker and Barter Exchange Transactions 2019 1099-B* OMB No 1545-0715 01/16/2020 TD Ameritrade Clearing, Inc. Account 44444444 Detail for Interest Income 2019 01/16/2020 SHORT TERM TRANSACTIONS FOR COVERED TAX LOTS [Ordinary gains or losses are identified in the additional information column] (Lines 2 & 3) Report on Form 8949, Part I with Box A checked. Basis is provided to the IRS. (Line 12) "Gain or loss (-)" is NOT reported to the IRS. 1b-Date acquired 1a. Description of property/CUSIP/Symbol 1c-Date 1d- Proceeds & sold or 6- Reported disposed Quantity (G)ross or (Net RIOT BLOCKCHAIN INC COM / CUSIP: 767292105 / Symbol: RIOT 05/29/19 400.000 1,282.45 Totals: 1,282.45 1e-Cost or 11- Accrued mkt disc (D) & other basis 1g-Wash sale loss disallowed (W) Gain or loss(-) & 7- Loss not allowed (X) also not reported Additional information (2) -928.91 Sale -928.91 04/26/19 2,211.36 2,211.36 Activa Go to 2019 Consolidated Forms 1099 Page 3 of 6 As of Date: 02/09/20 WELLS FARGO ADVISORS Account Number: 2345-1112 Taxpayer ID number: ***-**-1111 Your Financial Advisor: Got your Money Phone: (618) 222-1122 BILL S. & MARY N. TAXLAW JT WROS 426 East Oak, Carbondale IL , 62901 Payer: FIRST CLEARING, LLC 2801 MARKET STREET SAINT LOUIS, MO 63103 Payer ID#: 23-2384840 Summary of Reportable Tax Information OMB No. 1545-0110 1099-DIV Dividends and Distributions IRS Box 1a. Total Ordinary Dividends 1b Qualified Dividends 2a. Total Capital Gain Distributions 2b. Unrecaptured Section 1250 Gain 2c Section 1202 Gain 2d Collectibles (28%) Gain 3. Nondividend Distributions 4. Federal Income Tax Withheld 5. Investment Expenses 6. Foreign Tax Paid 7. Foreign country or U.S. Possession 8 8. Cash Liquidation Distributions 9. 9 Noncash Liquidation Distributions 10 Exempt-Interest Dividends 11. Specified Private Activity Bond Interest Dividends Amount $1,220.80 $820.80 $270.00 $0.00 $0.00 $800.00 $0.00 $0.00 $100.00 $0.00 See Details $0.00 $0.00 $0.00 $0.00 Activate Windows Go to Settings to activate Windows a Employee's social security number dise- file accurate, Visit the FASTI 111-11-1111 b Employer identification number (EIN) 37-1314234 c Employer's name, address, and ZIP code Com-Pac 110 N Round St Carbondale, IL 62901 Safe, IRS website at OMB No 1545-0008 Usewww.irs.gov/efile 1 Wages, tips, other compensation 210,000.00 3 Social security wages 128,400.00 5 Medicare wages and tips 210,000.00 7 Social security tips 2 Federal income tax withheld 47,000.00 4 Social security tax withheld 7,961.00 6 Medicare tax withheld 3,045.00 B Allocated tips d Control number 9 10 Dependent care benefits e Employee's Name & Address 11 Nonqualified plans 12a nstructions for box 12 D 10,000.00 William Taxlaw 426 East Oak Carbondale, IL 62901 13 Statutory Retirement Third-party employee par 12b sick pay 14 Other 12c 12d ad Employer's state ID number 15 State Illinois 16 State wages, tips, etc. 17 State income tax 210,000.00 6,000 18 Local wages, tips, etc. 19 Local income tax 20 Locality name Wage and Tax Department of the Treasury-Internal Revenue Service Form W-2 Statement 2019 F1 Amended K-1 OMB No 1545-0123 Part III Partner's Share of Current Year Income, Deductions, Credits, and Other Items 1 Ordinary business com os 15 Credits 2019 anding 2 Net rental real estate income fosse -5727 3 Othernet rental income do 16 Foreign transactions da Guaranteed payments for 4b Guard payments for capital 40 Total guaranteed payments 5 here income 75 6 Ordinary dividends 125 Schedule K-1 (Form 1065) Department of the Treasury Internal Revenue Service For alendar year 2018 or tax year beginning Partner's Share of Income, Deductions, Credits, etc. See back of form and separate instructions Parti Information About the Partnership A Partnership's employer identification number 72-1009882 B Partnership address, city, and ZIP code ABC Real Estate Partnership 147 S Illinois carbondale, IL 62901 CIRS Carter whore pomp Nedretum Kansas City D Check if this is a publicly traded partnership PTP Part II Information About the Partner E Partners or TI Do not use TIN of a cigarded entity Sent) 123-45-6787 F Name, address, city, and IP code for partner entered in E Sections, Mary Taxlaw 426 East Oak St Carbondale, IL 62901 o General partner LLC Limited partner or other LLC member-manager member H1 Domestic partner Foreign the H2 the partner is a disregarded antity (DE), enter the partner's TIN Name What type of only in this partner? Individual 12 this partner is a trement plan (RASEP/Kroget.Icheck here Partnet's star of pro, loss, and capital instruction Beginning Ending Profit 50 Los 50 % Capital Check it decis due to sale or exchange of prisipin 6b Qualified dividends 100 to Dividend equivalent 17 Alemaeus AM) 7 Royalties a Net short-term capital gain fossi Sa Natlong term capital gains 18 Tempt income and mordeduction 5 Colucht (70) gain doo 11 3c Unrecaptured section 1250 gain J 10 Net section 1731 gunosa 19 Doutons 50 50% SO 11 Other income 50% 20 Other information 12 Section 179 on 13 Other actions K Part's where ofte Beginning Ending Nontours Quadrorecourse financing $ Pecourt $ Check this boxen Kindudes lobby mistrom lower der pasi L Partner's Capital Account Analysis 14 Selemployment Gaming 2005) 46,545 -5527 Beginning capital account $ Capital contributed during the year $ Current year net income $ Other interesach planos Withdrawasions S Ending capital account 3,000 38,018 21 D More than one activity for risk purposes 22 More than one activity for passive activity pups See attached statement for additional information, M Did the partner contribute property with a built-in gain or loss? If "Yes, woment structions Use Only Page 1 of 7 D Ameritrade Tax Information Account 44444444 Statement Date: 01/16/2020 Document ID: 346M OV4 7550 2019 Herber FNASIR PO BOX 2209 OMAHA, NE 68103-2209 Client Services: 800-669-3900 WILLIAM & MARY TAXLAW 426 East Oak St Carbondale IL 62901 PAYER'S TIN: 47-0533629 RECIPIENT'S TIN: XXX-XX-1111 - SUSTUS 3- Nondividend distributions 0.00 4- Federal income tax withheld 0.00 5- Section 199A dividends 0.00 6- Investment expenses 0.00 8- Foreign country or US possession: 7- Foreign tax paid: 0.00 9- Cash liquidation distributions 0.00 If applicable, proceeds from sale transactions appear summarized below and are , 10-Noncash liquidation distributions 0.00 detailed in subsequent sections of this document. 11- Exempt-interest dividends (includes line 12) 0.00* This Is Important tax information and is being furnished to the Internal Revenue 12- Specified private activity bond interest dividends (AMT) 0.00 Service. If you are required to file a return, - a FATCA ding requirememegane Instructions) 5 Summary Information 9190 DIVIDENDS AND DISTRIBUTIONS 2019 1099-DIV* OMB No 1545-0110 MISCELLANEOUS INCOME 2019 1099-MISC* OMB No. 1545-11S 1a- Total ordinary dividends (includes lines 1b, 5) 2,500.00 2- Royalties 0.00 1b-Qualified dividends 1.500.00 3- Other income 0.00 2a-Total capital gain distributions (includes lines 2b, 2c, 2d) 0.00 4- Federal Income tax withheld 0.00 2b- Unrecaptured Section 1250 gain 0.00 8- Substitute payments in lieu of dividends or interest 0.00 2c-Section 1202 gain 0.00 2d- Collectibles (28%) gain 0.00 SECTION 1256 CONTRACTS 2019 1099-B* OMB No. 1545-0715 a negligence penalty or other sanction may be imposed on you if this income is taxable and the IRS determines that it has not been reported. SUMMARY OF PROCEEDS, GAINS & LOSSES, ADJUSTMENTS AND WITHHOLDING Activate Wing Go to Settings to Long 0.00 Page 2 of Refer to the 1099-B and Proceeds not reported to the IRS pages to ensure that you consider all relevant items and to determine the correct gains and losses. The amounts shown below are for informational Term Form 8949 type Proceeds Cost basis Market discount Short Wash sale loss disallowed Net gain or loss(-) A (basis reported to the IRS) 1,282.45 2,211.36 0.00 0.00 -928.91 Short B (basis not reported to the IRS) 0.00 0.00 0.00 Short 0.00 0.00 C (Form 1099-8 not received) 0.00 0.00 0.00 0.00 0.00 Total Short-term 1,282.45 2,211.36 0.00 0.00 -928.91 D(basis reported to the IRS) 0.00 0.00 0.00 0.00 0.00 Long E (basis not reported to the IRS) 0.00 0.00 0.00 0.00 F (Form 1099-B not received) 0.00 0.00 0.00 0.00 0.00 Total Long-term 0.00 0.00 0.00 0.00 0.00 Undetermined Bor E (basis not reported to the IRS) 0.00 0.00 0.00 0.00 0.00 Undetermined Cor F (Form 1099-B not received) 0.00 0.00 0.00 0.00 0.00 Total Undetermined-term 0.00 0.00 0.00 0.00 0.00 Grand total 1,282.45 2.211.36 0.00 0.00 -928.91 Withholding Amount purposes Long 0.00 8- Profit or loss) realized in 2019 on closed contracts 0.00 9- Unrealized profit or loss) on open contracts-12/31/2018 0.00 10- Unrealized profit or loss) on open contracts-12/31/2019 0.00 11- Aggregate profit or loss) on contracts 0.00 Federal income tax withheld 0.00 Changes to dividend tax classifications processed after your original tax form is issued for 2019 may require an amended tax form. TD Ameritrade Clearing, Inc. Account 44444444 Summary Information 2019 (continued) 01/16/2020 INTEREST INCOME 2019 1099-INT OMB No 15.45.01.12 13- Bond premium on tax-exempt bonds (categorized below) This is important tax information and is being furnished to the Internal Revenue Service. Tax-exempt obligations (covered lots) 0.00 If you are required to file a return, a negligence penalty or other sanction may be Tax-exempt private activity obligations (AMT, covered lots) 0.00 imposed on you if this income is taxable and the IRS determines that it has not been 14- Tax-exempt and tax credit bond CUSIP number See detail reported. 1- Interest income (not included in line 3) 101.13 2- Early withdrawal penalty ORIGINAL ISSUE DISCOUNT AND ADJUSTMENTS 0.00 3- Interest on US Savings Bonds & Treasury obligations 0.00 4- Federal income tax withheld 0.00 Use bond-by-bond details from the Form 1099-OID page(s) to determine amounts of 5- Investment expenses 0.00 Original Issue Discount income for your income tax return(s). The amounts shown in this 7- Foreign country or US possession: 6- Foreign tax paid section are for your reference when preparing your income tax retur(s). 8- Tax-exempt interest (includes line 9) 0.00 Original issue discount for 2019 0.00 9- Specified private activity bond interest (AMT) 0.00 10- Market discount (covered lots) Acquisition premium (covered lots) 0.00 0.00 Acquisition premium (noncovered lots) 0.00 11- Bond premium (covered lots) Original issue discount on Treasury obligations 0.00 12- Bond premium on Treasury obligations (covered lots) 0.00 Acquisition premium, Treasury obligations (covered lots) 0.00 Go to Setting 0.00 0.00 Activate v TD Ameritrade Clearing, Inc. Account 44444444 Proceeds from Broker and Barter Exchange Transactions 2019 1099-B* OMB No 1545-0715 01/16/2020 TD Ameritrade Clearing, Inc. Account 44444444 Detail for Interest Income 2019 01/16/2020 SHORT TERM TRANSACTIONS FOR COVERED TAX LOTS [Ordinary gains or losses are identified in the additional information column] (Lines 2 & 3) Report on Form 8949, Part I with Box A checked. Basis is provided to the IRS. (Line 12) "Gain or loss (-)" is NOT reported to the IRS. 1b-Date acquired 1a. Description of property/CUSIP/Symbol 1c-Date 1d- Proceeds & sold or 6- Reported disposed Quantity (G)ross or (Net RIOT BLOCKCHAIN INC COM / CUSIP: 767292105 / Symbol: RIOT 05/29/19 400.000 1,282.45 Totals: 1,282.45 1e-Cost or 11- Accrued mkt disc (D) & other basis 1g-Wash sale loss disallowed (W) Gain or loss(-) & 7- Loss not allowed (X) also not reported Additional information (2) -928.91 Sale -928.91 04/26/19 2,211.36 2,211.36 Activa Go to 2019 Consolidated Forms 1099 Page 3 of 6 As of Date: 02/09/20 WELLS FARGO ADVISORS Account Number: 2345-1112 Taxpayer ID number: ***-**-1111 Your Financial Advisor: Got your Money Phone: (618) 222-1122 BILL S. & MARY N. TAXLAW JT WROS 426 East Oak, Carbondale IL , 62901 Payer: FIRST CLEARING, LLC 2801 MARKET STREET SAINT LOUIS, MO 63103 Payer ID#: 23-2384840 Summary of Reportable Tax Information OMB No. 1545-0110 1099-DIV Dividends and Distributions IRS Box 1a. Total Ordinary Dividends 1b Qualified Dividends 2a. Total Capital Gain Distributions 2b. Unrecaptured Section 1250 Gain 2c Section 1202 Gain 2d Collectibles (28%) Gain 3. Nondividend Distributions 4. Federal Income Tax Withheld 5. Investment Expenses 6. Foreign Tax Paid 7. Foreign country or U.S. Possession 8 8. Cash Liquidation Distributions 9. 9 Noncash Liquidation Distributions 10 Exempt-Interest Dividends 11. Specified Private Activity Bond Interest Dividends Amount $1,220.80 $820.80 $270.00 $0.00 $0.00 $800.00 $0.00 $0.00 $100.00 $0.00 See Details $0.00 $0.00 $0.00 $0.00 Activate Windows Go to Settings to activate Windows
