Skylar and Walter Black have been married for 25 years. They live at 883 Scrub Brush Street, Apt. 52B, Las Vegas, NV 89125. Skylar is a stay-at-home parent and Walt is a high school teacher. His W-2 form is located on the next tab. Skylar's Social Security number is 222-43-7690 and Walt's is 700-01-0002. Neither are age 65 or older. The Blacks provide all the support for Skylar's mother, Rebecca Backin (Social Security number 411-66-2121), who lives in a nursing home in Reno, NV and has no income. Walter's father, Alton Black (Social Security number 343-22-8899), lives with the Blacks in Las Vegas. Although Alton received Social Security benefits of $7,600 in 2020, the Blacks provide over half of Alton's support. Skylar and Walt claim a $500 other dependent credit each for Rebecca and Alton.

Walts earnings from teaching are included on the W-2 (see separate tab).

The Blacks moved from Maine to Nevada. As a result, they sold their house in Maine on January 4, 2020. They originally paid $75,000 for the home on July 3, 1995, but managed to sell it for $604,000. They spent $14,000 on improvements over the years. They are currently renting in Las Vegas while they look for a new home.

The Blacks received a 1099-DIV from their mutual fund investments (see separate tab).

The Blacks own a ski condo located at 123 Buncombe Lane, Brian Head, UT 84719. The condo was rented for 185 days during 2020 and used by the Blacks for 15 days. The rental activity does not rise to the level to qualify for the QBI deduction. Pertinent information about the condo rental is as follows:

Rental income	$23,700
Mortgage interest reported on Form 1098	16,000
Homeowners' association dues	5,200
Utilities	3,400
Maintenance	6,600
Depreciation (assume fully depreciated)	0

The above amounts do not reflect any allocation between rental and personal use of the condo. The Blacks are active managers of the condo. The Blacks received a $2,400 EIP in 2020.

Required: Complete Form 1040

• Assume the taxpayers had health coverage for the entire year.
• Neither taxpayers wants to contribute to the presidential election campaign.
• If an amount box does not require an entry or the answer is zero, enter "0".
• Do not round any percentages.
• If required, round your answers to the nearest dollar.
• If required, enter a "loss" as a negative number on the tax form. Do not enter deductions as negative numbers.

Walter's Forms W-2 and 1099-DIV OMB No. 1545-0008 Safe, accurate, FAST! Use IRS e file Visit the IRS website at www.irs.gov/efile a Employee's social security number 700-01-0002 b Employer identification number (EIN) 31-1239867 c Employer's name, address, and ZIP code Las Vegas School District 2234 Vegas Valley Drive Las Vegas, NV 89169 1 Wages, tips, other compensation 54,300.00 3 Social security wages 54,300.00 5 Medicare wages and tips 54,300.00 7 Social security tips 2 Federal income tax withheld 4,100.00 4 Social security tax withheld 3,366.60 6 Medicare tax withheld 787.35 8 Allocated tips d Control number 9 10 Dependent care benefits Walter's Forms W-2 and 1099-DIV 12a See instructions for box 12 e Employee's first name and initial Last Suff. 11 Nonqualified plans name Walter Black 883 Scrub Brush Street, Apt. 52B Las Vegas, NV 89125 DD $7,900.00 d 12b 13 Statutory employee Retirement plan Third-party sick pay 0 d e 14 Other 12c 0 Walter's Forms W-2 and 1099-DIV CORRECTED (if checked) OMB No. 1545-0110 PAYER'S name, street address, city or town, state or province, country, ZIP or foreign postal code, and telephone no. 1a Total ordinary dividends $ 1,500.00 2020 Dividends and Distributions Cyber Equities Fund 41 Wall Street New York, NY 10005 1b Qualified dividends $ 1,050.00 Form 1099-DIV 2a Total capital gain distr. 2b Unrecap. Sec. 1250 gain $ 6,700.23 PAYER'S TIN RECIPIENT'S TIN 2c Section 1202 gain 2d Collectibles (28%) Walter's Forms W-2 and 1099-DIV OMB No. 1545-0008 Safe, accurate, FAST! Use IRS e file Visit the IRS website at www.irs.gov/efile a Employee's social security number 700-01-0002 b Employer identification number (EIN) 31-1239867 c Employer's name, address, and ZIP code Las Vegas School District 2234 Vegas Valley Drive Las Vegas, NV 89169 1 Wages, tips, other compensation 54,300.00 3 Social security wages 54,300.00 5 Medicare wages and tips 54,300.00 7 Social security tips 2 Federal income tax withheld 4,100.00 4 Social security tax withheld 3,366.60 6 Medicare tax withheld 787.35 8 Allocated tips d Control number 9 10 Dependent care benefits Walter's Forms W-2 and 1099-DIV 12a See instructions for box 12 e Employee's first name and initial Last Suff. 11 Nonqualified plans name Walter Black 883 Scrub Brush Street, Apt. 52B Las Vegas, NV 89125 DD $7,900.00 d 12b 13 Statutory employee Retirement plan Third-party sick pay 0 d e 14 Other 12c 0 Walter's Forms W-2 and 1099-DIV CORRECTED (if checked) OMB No. 1545-0110 PAYER'S name, street address, city or town, state or province, country, ZIP or foreign postal code, and telephone no. 1a Total ordinary dividends $ 1,500.00 2020 Dividends and Distributions Cyber Equities Fund 41 Wall Street New York, NY 10005 1b Qualified dividends $ 1,050.00 Form 1099-DIV 2a Total capital gain distr. 2b Unrecap. Sec. 1250 gain $ 6,700.23 PAYER'S TIN RECIPIENT'S TIN 2c Section 1202 gain 2d Collectibles (28%)