T (SSN 123-45-6798) is 32 and unmarried but does provide all of the support for Z (age 22) who is T's younger brother and lived with T for the entire year. In 2022, Z was a full-time student at a local community college; Z earned $4,300 from a part-time job during the summer. T had the following property dispositions during 2022 : - sold for $75,000 on 9/12 a rental property that was purchased on 7/25/13 for $75,000;$11,000 of depreciation has been taken on the property. - sold the following equitv securities: - T has a LTCL and STCL carryover from 2021 of $4,500 and $3,000, respectively. - T sold a coin collection on 12/11 that was given to her as a Christmas gift in 2018 for $7,500. T doesn't know how much was paid for the individual items in the collection, but an appraisal done immediately before the gift was made in 2018 determined the FMV of the collection was $2,500, which is known by T. - T bought an old-master's painting on 3/23/22 for $2,500. She subsequently sold the painting for $4,500 on 12/29. - T was notified by an old college friend that she should not expect to receive payment, due to unexpected health issues, of a $3,000 loan (a written IOU was executed) that was made in 2016. T had an attorney send a demand for payment of the note principal, and made a referral to a collection agency, neither of which was successful in securing any collection of principal or interest. T has decided to discontinue any further collection efforts since the cost of pursuing further action could exceed the amounts owed. - BLAH common stock that was purchased 10/2/21 for $1,500 was delisted on 7/29 when all trading activity was suspended due to a chapter 7 Bankruptcy filing by the company. - H Company is 1244 stock; D Corp. is a qualified small business for purposes of 1202. - T did not receive any 1099-B's. - T received the following information returns: - 1099-INT box 1 filled in for total interest income earned from T's bond portfolio. - W-2 with box 2 amount of $10,000; all other boxes are properly completed based on T's salary amount. - Gift acknowledgement from T's alma mater of a $10,000 cash gift to fund an academic scholarship to support the department of Accounting and Finance. Required: Prepare all relevant parts of T's form 1040 (including all supporting schedules/forms) for 2022 assuming T's taxable income prior to consideration of the property dispositions indicated above was $210,730 ( $4,530 of qualified dividends, salary of $15,500 from employment as a part-time tax consultant with the remainder from taxable interest earned from a high yield domestic corporate bond portfolio). T (SSN 123-45-6798) is 32 and unmarried but does provide all of the support for Z (age 22) who is T's younger brother and lived with T for the entire year. In 2022, Z was a full-time student at a local community college; Z earned $4,300 from a part-time job during the summer. T had the following property dispositions during 2022 : - sold for $75,000 on 9/12 a rental property that was purchased on 7/25/13 for $75,000;$11,000 of depreciation has been taken on the property. - sold the following equitv securities: - T has a LTCL and STCL carryover from 2021 of $4,500 and $3,000, respectively. - T sold a coin collection on 12/11 that was given to her as a Christmas gift in 2018 for $7,500. T doesn't know how much was paid for the individual items in the collection, but an appraisal done immediately before the gift was made in 2018 determined the FMV of the collection was $2,500, which is known by T. - T bought an old-master's painting on 3/23/22 for $2,500. She subsequently sold the painting for $4,500 on 12/29. - T was notified by an old college friend that she should not expect to receive payment, due to unexpected health issues, of a $3,000 loan (a written IOU was executed) that was made in 2016. T had an attorney send a demand for payment of the note principal, and made a referral to a collection agency, neither of which was successful in securing any collection of principal or interest. T has decided to discontinue any further collection efforts since the cost of pursuing further action could exceed the amounts owed. - BLAH common stock that was purchased 10/2/21 for $1,500 was delisted on 7/29 when all trading activity was suspended due to a chapter 7 Bankruptcy filing by the company. - H Company is 1244 stock; D Corp. is a qualified small business for purposes of 1202. - T did not receive any 1099-B's. - T received the following information returns: - 1099-INT box 1 filled in for total interest income earned from T's bond portfolio. - W-2 with box 2 amount of $10,000; all other boxes are properly completed based on T's salary amount. - Gift acknowledgement from T's alma mater of a $10,000 cash gift to fund an academic scholarship to support the department of Accounting and Finance. Required: Prepare all relevant parts of T's form 1040 (including all supporting schedules/forms) for 2022 assuming T's taxable income prior to consideration of the property dispositions indicated above was $210,730 ( $4,530 of qualified dividends, salary of $15,500 from employment as a part-time tax consultant with the remainder from taxable interest earned from a high yield domestic corporate bond portfolio)