The instruction for my assignment is in my attachment. This is a tax return project. So, anyone who is an expert in tax accounting please help me. I have provided details and pointers for all of you guys in the attachment. The tax return need to use 2016 information not 2015 info. which I have provided as well. Furthermore, my instructor provide a check figures for AGI and total tax. I hope your figures will match with her at the end.

Tax Accounting I Individual Tax Return Project Please complete the required federal individual income tax return forms for the following taxpayer. You must complete the forms neatly by hand. You may not use any tax return preparation software. You can access the necessary forms online on Blackboard under \"Course Materials\" or at www.irs.gov. You will need to complete Form 1040, pages 1 and 2; Schedule A, Schedule B, Schedule C, and Schedule E. Although the forms are for 2015, please use 2016 amounts for personal and dependency exemptions, and for the standard deduction if applicable. Ignore alternative minimum tax calculations and tax credits. Ignore the requirement to attach the form(s) W-2 to the front page of the Form 1040. If required information is missing, use reasonable assumptions to fill in the gaps. Also: Please round all tax return entries to the nearest dollar. Please use the 2016 tax rate schedule in Appendix D of your text to calculate any tax liability. AGI should equal $57,066 and total tax (line 63) should equal $3,858 .- Check Figures Deborah Flores has undergone some major changes in her life recently. In 2014, at the age of 46, her husband, Roger, passed away. Deborah has not remarried as of the end of 2016. Deborah currently lives in Springfield, Missouri. Deborah has three children (ages as of the end of the year): Amelia (23), Carl (17), and Edward (14). Deborah would like to determine her federal income tax under the filing status that is most advantageous for her. Deborah reported the following information: Deborah's social security number is 294-83-2845 Amelia's social security number is 824-84-8456 Carl's social security number is 824-34-9584 Edward's social security number is 824-56-2984 Deborah's mailing address is 1234 S. Bruin St, Springfield, MO 65807 The entire household had full year health insurance coverage. (See line 61, page 2 of Form 1040.)- Additional pointer on last page! Amelia is single and a full-time graduate student at State University She received her bachelor's degree the year her father passed away. This year represents her fifth year of higher education schooling. Amelia works as a graduate assistant at State University to help with some of her living expenses. Amelia earned $2,300 in gross income during the year, and State University also provided Amelia educational assistance benefits which paid for her tuition, books, and fees, totaling $5,000. Deborah provided and paid for rent, food, clothes, medicine, and other support items for Amelia that were valued at $12,700 for the year. Deborah's W-2 for the year reported the following: Company LAND Development Corporation Gross Wages Federal Income Tax Withholding State Income Tax Withholding $46,435 $4,700 $700 Deborah's employer withheld all applicable and appropriate payroll taxes. Through work Deborah was provided with certain benefits as part of her employment: Group-term life insurance coverage of $50,000. Cost to cover Deborah for the company for the tax year is $150. Access to the company photocopy machine. Deborah estimates she made $40 worth of copies during the year primarily for use with her church group activities. Deborah also owns a rental house, which she rented out for all of 2016. The following items relate to the rental property: Rental income received $6,000 Depreciation expense on the rental house $1,700 Real estate taxes paid on rental house $ 600 On January 1 of last year, Deborah started a photography business in which she takes bridal and wedding photographs. She does not do any of the professional printing. However, she provides all of the original negatives to her clients on a USB drive as part of her service. This unique service along with her skill and reputation has allowed her to earn additional money on the weekends primarily in the summer to help support her daughter in college. Deborah rents all of the camera equipment from a friend and does not currently own any equipment herself. The photography business uses the cash method of accounting. The business did not have any obligation to file a Form 1099 to any payee during the year. Deborah reported the following revenue and expenses for her business for the year: Gross Revenue Photographic supplies Camera rental $6,800 $ 650 $1,500 Deborah Flores also received the following during the year: Life Insurance Payment-Mutual Life (Mother's passing) Cash gift from her father Interest income-First Bank of Springfield Interest income-General Electric Bond Interest income-Springfield School District Municipal Bond $150,000 $ 6,000 $ 210 $ 2,400 $ 2,200 Deborah did not own, control or manage any foreign bank accounts nor was she a grantor or beneficiary of a foreign trust during the tax year. Deborah paid or incurred the following expenses during the year: Dentist (unreimbursed by insurance) Doctors (unreimbursed by insurance) Prescriptions (unreimbursed by insurance) Real property taxes on residence Mortgage interest on principal residence (Form 1098 received) Cash Contribution to the American Lung Association Cash Contribution to the Habitat for Humanity Cash Contribution to Methodist Church of MO Cash Contribution to State University $1,700 $ 500 $ 255 $ 800 $6,845 $ 500 $1,000 $3,000 $ 500 Deborah incurred self-employment taxes of $657 for her work as a photographer. Deborah wants to contribute to the Presidential Election Campaign. She would like to receive a refund (if any) of any tax she may have overpaid for the year. Her preferred method of receiving the refund is by check. Additional pointers for tutor to watch out: 1. For the health insurance coverage, just indicate a checkmark saying that insurance is covered for the whole family on the line instructed on page 1. 2. For the contribution of Presidential Election Campaign, I just want to notify that you only need to put a check mark on Form 1040 page 1 where it states Presidential Election Campaign. You do not deduct the 3 dollars meaning it will not affect the overall cash for the tax return. Please remember that. It was a tip given to me by my instructor. \fChapter 4 Individual Income Tax Overview, Overview, Exemptions, and Filing Status McGraw-Hill Education Copyright 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Individual Income Tax Formula Gross income Minus: For AGI deductions Equals: Adjusted gross income Minus: From AGI deductions: Greater of (a) Standard deduction or (b) Itemized deductions and Personal and dependency exemption Equals: Taxable income 4-2 Individual Income Tax Formula Taxable income Times: Tax rates Equals: Income tax liability Add: Other taxes Equals: Total tax Minus: Credits Minus: Prepayments Equals: Taxes due or (refund) 4-3 Individual Income Tax Formula Individuals report taxable income to the IRS Reported on Form 1040 U.S. tax laws use all-inclusive gross income concept Realized income measurable change in property rights All realized income included in gross income unless specifically excluded or deferred Recognized income Reported on tax return 4-4 Individual Income Tax Formula Excluded and Deferred income not included in gross income (Ch. 5) Excluded income Income never included in taxable income Municipal bond interest Gain on sale of personal residence Deferred income Income included in a subsequent tax year Installment sales Like-kind exchanges 4-5 Individual Income Tax Formula Character of income or loss Determines rates applicable to income or loss in current year Tax exempt - no tax Tax deferred - no tax in current year (current year tax rate is zero) Ordinary - ordinary rates from tax rate schedule Qualified dividends taxed at 0, 15%, or 20% depending on taxpayer's income level Capital gain or loss - depends on whether short-term or long-term From selling capital asset If held capital asset more than a year gain or loss is longterm, otherwise it is short-term Net long-term gains taxed at preferential rates 4-6 Individual Income Tax Formula Capital assets Generally all assets except Accounts receivable Inventory Assets used in trade or business, including supplies 4-7 Individual Income Tax Formula Capital gains and losses Net long-term capital gains in excess of net shortterm capital losses are generally taxed at 0%, 15%, or 20% depending on the taxpayer's taxable income Short-term capital gains taxed at ordinary rates Net capital losses (losses in excess of gains for year) $3,000 deductible against ordinary income for year Losses in excess of $3,000 carried forward 4-8 Individual Income Tax Formula Deductions for AGI Deductions \"above the line\" Deducted in determining adjusted gross income Always reduce taxable income dollar for dollar 4-9 Individual Income Tax Formula Deductions from AGI Deductions \"below the line\" Deducted from adjusted gross income to determine taxable income Greater of standard deduction or itemized deductions Personal and dependency exemptions Why might a from AGI deduction not reduce taxable income? 4-10 Individual Income Tax Formula 2016 standard deduction amounts $12,600 Married filing jointly $12,600 Qualifying widow or widower $6,300 Married filing separately $9,300 Head of household $6,300 Single Additional standard deduction amounts for age and eyesight (discuss in Chapter 6) 4-11 Individual Income Tax Formula Tax calculation The U.S. uses a progressive tax rate schedule Some items are taxed at preferential rates Long-term capital gains Qualified dividends Tax on these items is calculated separately from income taxed at ordinary rates. 4-12 Individual Income Tax Formula Other Alternative minimum tax Self-employment taxes 3.8% Net investment income tax .9% Additional Medicare tax Tax taxes include: (Ch. 8) credits (Ch. 8) Reduce tax liability dollar for dollar 4-13 Individual Income Tax Formula Tax prepayments Payments already made towards tax liability including: Income taxes withheld from wages by employer Estimated tax payments made during the year Taxes overpaid in prior year and applied toward current year's liability If prepayments exceed tax liability after credits, taxpayer receives a refund 4-14 Personal and Dependency Exemptions Personal exemptions For taxpayer and spouse if married filing jointly Dependency exemptions For those who qualify as the taxpayers' dependents Exemption amount for 2016 is $4,050 4-15 Personal and Dependency Exemptions Dependency Citizen of U.S. or resident of U.S., Canada, or Mexico Must not file joint return with spouse requirements Exception - if no tax liability filing jointly or separately Must be qualifying child or qualifying relative of taxpayer 4-16 Personal and Dependency Exemptions Qualifying child Relationship test Age test Residence test Support test 4-17 Qualifying Child Relationship test taxpayer's son, daughter, stepchild, an eligible foster child, brother, sister, half brother, half sister, stepbrother, stepsister or a descendant of any of these relatives. 4-18 Qualifying Child Age test: child must be younger than the individual claiming the child as a qualifying child and either under age 19 at the end of the year, under age 24 at the end of the year and a fulltime student, or permanently and totally disabled. 4-19 Qualifying Child Residence test Same residence as taxpayer for more than half the year Exception for temporary absences such as education Support test Child must not provide more than half of his or her own support Scholarships of actual child (not grandchild, for example) are excluded from support computation 4-20 Qualifying Child Example Rodney and Anita have two children: Braxton, age 12, who lives at home and Tara, age 21 who is a full-time student and does not live at home. While Tara earned $9,000 in a summer job, she did not provide more than half of her own support during the year. Are Braxton and Tara qualifying children to Rodney and Anita? 4-21 Qualifying Child Example Solution Test Braxton Tara Relationship Yes, son Yes, daughter Age Yes, (scholarship does not count as self -support) 4-22 Qualifying Child Tie breaking rules Parents first Days living with each parent if parents living apart AGI- higher AGI gets exemption 4-23 Qualifying Child Example Braxton's uncle Shawn (Rodney's brother) lived in the Halls's home (the same home Braxton lived in) for more than 11 months during the year. Does Braxton meet the requirements to be considered Shawn's qualifying child? 4-24 Qualifying Child Example Solution Test Is Braxton Shawn's qualifying child? Relationship Yes, son of Shawn's brother Age Yes, of living expenses (support) Scholarships of actual child excluded Gross test income test Gross income Gross income Not applicable No, gross income > $4,050 4-32 Personal and Dependency Exemptions 4-33 Filing Status Five different filing statuses Married filing jointly Married filing separately Qualifying widow or widower (surviving spouse) Single Head of household 4-34 Filing Status Married Must be married on the last day of the year If one spouse dies the surviving spouse is considered to be married to decedent spouse at year end filing jointly Exception - The surviving spouse remarries before year end Joint and several liability for tax 4-35 Filing Status Married filing separately Taxpayers are married but file separate returns Typically not beneficial from tax perspective Tax rates and other tax benefits May be beneficial for non-tax reasons No joint and several liability 4-36 Filing Status Qualifying widow or widower Available for the two years following the year of spouse's death Surviving spouse does not qualify if remarries during two-year period. Surviving spouse must maintain household for dependent child 4-37 Filing Status Single Unmarried unless qualify for head of household 4-38 Filing Status Head Unmarried or considered unmarried at end of year of household See discussion of married individuals treated as unmarried (abandoned spouses) below Not a qualifying widow or widower Pay more than half the costs of keeping up a home during the year Lived in taxpayer's home with a \"qualifying person\" for more than half of the year Exception for parents (see below) 4-39 Filing Status Qualifying person Qualifying child Qualifying relative who is taxpayer's mother or father Parent need not live with taxpayer Taxpayer must pay > cost of maintaining separate household for taxpayer's mother or father Parent must qualify as taxpayer's dependent 4-40 Filing Status Qualifying relative who is not the taxpayer's parent Person must have lived with taxpayer for more than half the year Must qualify as taxpayer's dependent Must be related to taxpayer through qualified family relationship If related only because lived with taxpayer for entire year, not a qualified person. 4-41 Filing Status Head of household Married individuals treated as unmarried (abandoned spouse) if individual Is married at end of year (or is not legally separated from the other spouse) Does not file a joint tax return with the other spouse Pays > the cost of maintaining a household that serves as principal abode for qualifying child for more than half the year Lived apart from the other spouse for the last six months of the year (other than temporary absences) 4-42 Filing Status Example Assume that last year Rodney passed away, and during the current year Anita did not remarry but maintained a household for Braxton and Tara, her dependent children. Under these circumstances, what would Anita's filing status be? 4-43 Filing Status Example Answer: Qualifying widow 4-44 Filing Status Example Assume Rodney and Anita divorced last year. During the current year, Braxton lives with Anita and Anita pays all the costs of maintaining the household for herself and Braxton. Under these circumstances, what is Anita's filing status for the current year? 4-45 Filing Status Example Answer: Head of household 4-46 Filing Status Example Assume Shawn (Rodney's brother) lived with the Halls, but Shawn paid more than half the costs of maintaining a separate apartment that is the principal residence of his mother, Sharon, whose gross income is $1,500. Because Shawn provided more than half of Sharon's support during the year, and because Sharon's gross income was only $1,500, she qualifies as Shawn's dependent (as a qualifying relative). In these circumstances, what is Shawn's filing status? 4-47 Filing Status Example Answer: Head of household. Shawn paid more than half the costs of maintaining a separate household that is the principal place of abode for his mother, and his mother qualifies as his dependent. 4-48 SCHEDULE A (Form 1040) OMB No. 1545-0074 Itemized Deductions Department of the Treasury Internal Revenue Service (99) Information about Schedule A and its separate instructions is at www.irs.gov/schedulea. Attach to Form 1040. Name(s) shown on Form 1040 Medical and Dental Expenses Taxes You Paid Interest You Paid Note: Your mortgage interest deduction may be limited (see instructions). Caution: Do not include expenses reimbursed or paid by others. 1 Medical and dental expenses (see instructions) . . . . . 1 2 Enter amount from Form 1040, line 38 2 3 Multiply line 2 by 10% (.10). But if either you or your spouse was 3 born before January 2, 1951, multiply line 2 by 7.5% (.075) instead 4 Subtract line 3 from line 1. If line 3 is more than line 1, enter -0- . . 5 State and local (check only one box): a Income taxes, or . . . . . . . . . . . 5 b General sales taxes 6 Real estate taxes (see instructions) . . . . . . . . . 6 7 Personal property taxes . . . . . . . . . . . . . 7 8 Other taxes. List type and amount 8 9 Add lines 5 through 8 . . . . . . . . . . . . . . . . 10 Home mortgage interest and points reported to you on Form 1098 10 11 Home mortgage interest not reported to you on Form 1098. If paid to the person from whom you bought the home, see instructions and show that person's name, identifying no., and address . . . . . . 4 . . . . . . 9 . . . . . . 15 . . . . . . 19 . . . . . . 20 . . . . . 27 } 11 12 Points not reported to you on Form 1098. See instructions for special rules . . . . . . . . . . . . . . . . . 12 13 Mortgage insurance premiums (see instructions) . . . . . 13 14 Investment interest. Attach Form 4952 if required. (See instructions.) 14 15 Add lines 10 through 14 . . . . . . . . . . . . . . . Gifts to 16 Gifts by cash or check. If you made any gift of $250 or more, see instructions . . . . . . . . . . . . . . . . 16 Charity 17 Other than by cash or check. If any gift of $250 or more, see If you made a gift and got a instructions. You must attach Form 8283 if over $500 . . . 17 benefit for it, 18 Carryover from prior year . . . . . . . . . . . . 18 see instructions. 19 Add lines 16 through 18 . . . . . . . . . . . . . . . Casualty and Theft Losses 2015 Attachment Sequence No. 07 Your social security number 20 Casualty or theft loss(es). Attach Form 4684. (See instructions.) . . Job Expenses 21 Unreimbursed employee expensesjob travel, union dues, and Certain job education, etc. Attach Form 2106 or 2106-EZ if required. Miscellaneous 21 (See instructions.) Deductions 22 Tax preparation fees . . . . . . . . . . . . . 22 23 Other expensesinvestment, safe deposit box, etc. List type and amount Other Miscellaneous Deductions 24 25 26 27 28 23 Add lines 21 through 23 . . . . . . . . . . . . 24 Enter amount from Form 1040, line 38 25 Multiply line 25 by 2% (.02) . . . . . . . . . . . 26 Subtract line 26 from line 24. If line 26 is more than line 24, enter -0- . Otherfrom list in instructions. List type and amount 28 29 Is Form 1040, line 38, over $154,950? Total Itemized No. Your deduction is not limited. Add the amounts in the far right column for lines 4 through 28. Also, enter this amount on Form 1040, line 40. Deductions } . Yes. Your deduction may be limited. See the Itemized Deductions Worksheet in the instructions to figure the amount to enter. 30 If you elect to itemize deductions even though they are less than your standard deduction, check here . . . . . . . . . . . . . . . . . . . For Paperwork Reduction Act Notice, see Form 1040 instructions. Cat. No. 17145C . 29 Schedule A (Form 1040) 2015 SCHEDULE B Department of the Treasury Internal Revenue Service (99) OMB No. 1545-0074 Interest and Ordinary Dividends (Form 1040A or 1040) Information Attach to Form 1040A or 1040. about Schedule B and its instructions is at www.irs.gov/scheduleb. Name(s) shown on return Part I 1 Interest Part II Amount List name of payer. If any interest is from a seller-financed mortgage and the buyer used the property as a personal residence, see instructions on back and list this interest first. Also, show that buyer's social security number and address (See instructions on back and the instructions for Form 1040A, or Form 1040, line 8a.) Note: If you received a Form 1099-INT, Form 1099-OID, or substitute statement from a brokerage firm, list the firm's name as the payer and enter the total interest shown on that form. 2015 Attachment Sequence No. 08 Your social security number 1 2 3 Add the amounts on line 1 . . . . . . . . . . Excludable interest on series EE and I U.S. savings Attach Form 8815 . . . . . . . . . . . . . 4 Subtract line 3 from line 2. Enter the result here and 1040, line 8a . . . . . . . . . . . . . . Note: If line 4 is over $1,500, you must complete Part III. List name of payer 5 . . . . . . . . bonds issued after 1989. . . . . . . . . on Form 1040A, or Form . . . . . . . . 2 3 4 Amount Ordinary Dividends (See instructions on back and the instructions for Form 1040A, or Form 1040, line 9a.) Note: If you received a Form 1099-DIV or substitute statement from a brokerage firm, list the firm's name as the payer and enter the ordinary dividends shown on that form. Part III Foreign Accounts and Trusts (See instructions on back.) 5 6 Add the amounts on line 5. Enter the total here and on Form 1040A, or Form 6 1040, line 9a . . . . . . . . . . . . . . . . . . . . . . Note: If line 6 is over $1,500, you must complete Part III. You must complete this part if you (a) had over $1,500 of taxable interest or ordinary dividends; (b) had a foreign account; or (c) received a distribution from, or were a grantor of, or a transferor to, a foreign trust. 7a Yes No At any time during 2015, did you have a financial interest in or signature authority over a financial account (such as a bank account, securities account, or brokerage account) located in a foreign country? See instructions . . . . . . . . . . . . . . . . . . . . . . . . If \"Yes,\" are you required to file FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), to report that financial interest or signature authority? See FinCEN Form 114 and its instructions for filing requirements and exceptions to those requirements . . . . . . b If you are required to file FinCEN Form 114, enter the name of the foreign country where the financial account is located 8 During 2015, did you receive a distribution from, or were you the grantor of, or transferor to, a foreign trust? If \"Yes,\" you may have to file Form 3520. See instructions on back . . . . . . For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 17146N Schedule B (Form 1040A or 1040) 2015 Page 2 Schedule B (Form 1040A or 1040) 2015 General Instructions Section references are to the Internal Revenue Code unless otherwise noted. Future Developments For the latest information about developments related to Schedule B (Form 1040A or 1040) and its instructions, such as legislation enacted after they were published, go to www.irs.gov/scheduleb. Purpose of Form Use Schedule B if any of the following applies. You had over $1,500 of taxable interest or ordinary dividends. You received interest from a seller-financed mortgage and the buyer used the property as a personal residence. You have accrued interest from a bond. You are reporting original issue discount (OID) in an amount less than the amount shown on Form 1099-OID. You are reducing your interest income on a bond by the amount of amortizable bond premium. You are claiming the exclusion of interest from series EE or I U.S. savings bonds issued after 1989. You received interest or ordinary dividends as a nominee. You had a financial interest in, or signature authority over, a financial account in a foreign country or you received a distribution from, or were a grantor of, or transferor to, a foreign trust. Part III of the schedule has questions about foreign accounts and trusts. Specific Instructions You can list more than one payer on each entry space for lines 1 and 5, but be sure to clearly show the amount paid next to the payer's name. Add the separate amounts paid by the payers listed on an entry space and enter the total in the \"Amount\" column. If you still need more space, attach separate statements that are the same size as the printed schedule. Use the same format as lines 1 and 5, but show your totals on Schedule B. Be sure to put your name and social security number (SSN) on the statements and attach them at the end of your return. TIP Part I. Interest Line 1. Report on line 1 all of your taxable interest. Taxable interest generally should be shown on your Forms 1099-INT, Forms 1099-OID, or substitute statements. Include interest from series EE, H, HH, and I U.S. savings bonds. Also include any accrued market discount that is includible in income. List each payer's name and show the amount. Do not report on this line any tax-exempt interest from box 8 or box 9 of Form 1099-INT. Instead, report the amount from box 8 on line 8b of Form 1040A or 1040. If an amount is shown in box 9 of Form 1099-INT, you generally must report it on line 12 of Form 6251. See the Instructions for Form 6251 for more details. For more information on market discount and other investment income see Pub. 550. Seller-financed mortgages. If you sold your home or other property and the buyer used the property as a personal residence, list first any interest the buyer paid you on a mortgage or other form of seller financing. Be sure to show the buyer's name, address, and SSN. You must also let the buyer know your SSN. If you do not show the buyer's name, address, and SSN, or let the buyer know your SSN, you may have to pay a $50 penalty. Nominees. If you received a Form 1099-INT that includes interest you received as a nominee (that is, in your name, but the interest actually belongs to someone else), report the total on line 1. Do this even if you later distributed some or all of this income to others. Under your last entry on line 1, put a subtotal of all interest listed on line 1. Below this subtotal, enter "Nominee Distribution" and show the total interest you received as a nominee. Subtract this amount from the subtotal and enter the result on line 2. If you received interest as a nominee, you must give the actual owner a Form 1099-INT unless the owner is your spouse. You must also file a Form 1096 and a Form 1099-INT with the IRS. For more details, see the General Instructions for Certain Information Returns and the Instructions for Forms 1099-INT and 1099-OID. TIP Accrued interest. When you buy bonds between interest payment dates and pay accrued interest to the seller, this interest is taxable to the seller. If you received a Form 1099 for interest as a purchaser of a bond with accrued interest, follow the rules earlier under Nominees to see how to report the accrued interest. But identify the amount to be subtracted as \"Accrued Interest.\" Original issue discount (OID). If you are reporting OID in an amount less than the amount shown on Form 1099-OID, follow the rules earlier under Nominees to see how to report the OID. But identify the amount to be subtracted as \"OID Adjustment.\" Amortizable bond premium. If you are reducing your interest income on a bond by the amount of amortizable bond premium, follow the rules earlier under Nominees to see how to report the interest. But identify the amount to be subtracted as \"ABP Adjustment.\" Line 3. If, during 2015, you cashed series EE or I U.S. savings bonds issued after 1989 and you paid qualified higher education expenses for yourself, your spouse, or your dependents, you may be able to exclude part or all of the interest on those bonds. See Form 8815 for details. Part II. Ordinary Dividends You may have to file Form 5471 if, in 2015, you were an officer or director of a foreign corporation. You may also have to file Form 5471 if, in 2015, you owned 10% or more of the total (a) value of a foreign corporation's stock, or (b) combined voting power of all classes of a foreign corporation's stock with voting rights. For details, see Form 5471 and its instructions. TIP Line 5. Report on line 5 all of your ordinary dividends. This amount should be shown in box 1a of your Forms 1099-DIV or substitute statements. List each payer's name and show the amount. Nominees. If you received a Form 1099-DIV that includes ordinary dividends you received as a nominee (that is, in your name, but the ordinary dividends actually belong to someone else), report the total on line 5. Do this even if you later distributed some or all of this income to others. Under your last entry on line 5, put a subtotal of all ordinary dividends listed on line 5. Below this subtotal, enter \"Nominee Distribution\" and show the total ordinary dividends you received as a nominee. Subtract this amount from the subtotal and enter the result on line 6. If you received dividends as a nominee, you must give the actual owner a Form 1099-DIV unless the owner is your spouse. You must also file a Form 1096 and a Form 1099-DIV with the IRS. For more details, see the General Instructions for Certain Information Returns and the Instructions for Form 1099-DIV. TIP Part III. Foreign Accounts and Trusts Regardless of whether you are required to file FinCEN Form 114 (FBAR), you may be required to file Form 8938, Statement of Specified Foreign Financial Assets, with your income tax return. Failure to file Form 8938 may result in penalties and extension of the statute of limitations. See www.irs.gov/form8938 for more information. TIP Line 7a-Question 1. Check the \"Yes\" box if at any time during 2015 you had a financial interest in or signature authority over a financial account located in a foreign country. See the definitions that follow. Check the \"Yes\" box even if you are not required to file FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). Financial account. A financial account includes, but is not limited to, a securities, brokerage, savings, demand, checking, deposit, time deposit, or other account maintained with a financial institution (or other person performing the services of a financial institution). A financial account also includes a commodity futures or options account, an insurance policy with a cash value (such as a whole life insurance policy), an annuity policy with a cash value, and shares in a mutual fund or similar pooled fund (that is, a fund that is available to the general public with a regular net asset value determination and regular redemptions). Financial account located in a foreign country. A financial account is located in a foreign country if the account is physically located outside of the United States. For example, an account maintained with a branch of a United States bank that is physically located outside of the United States is a foreign financial account. An account maintained with a branch of a foreign bank that is physically located in the United States is not a foreign financial account. Signature authority. Signature authority is the authority of an individual (alone or in conjunction with another individual) to control the disposition of assets held in a foreign financial account by direct communication (whether in writing or otherwise) to the bank or other financial institution that maintains the financial account. See the FinCEN Form 114 instructions for exceptions. Do not consider the exceptions relating to signature authority in answering Question 1 on line 7a. Other definitions. For definitions of \"financial interest,\" \"United States,\" and other relevant terms, see the instructions for FinCEN Form 114. Line 7a-Question 2. See FinCEN Form 114 and its instructions to determine whether you must file the form. Check the \"Yes\" box if you are required to file the form; check the \"No\" box if you are not required to file the form. If you checked the \"Yes\" box to Question 2 on line 7a, FinCEN Form 114 must be electronically filed with the Financial Crimes Enforcement Network (FinCEN) at the following website: http://bsaefiling. fincen.treas.gov/main.html. Do not attach FinCEN Form 114 to your tax return. To be considered timely, FinCEN Form 114 must be received by June 30, 2016. ! If you are required to file FinCEN Form 114 but do not properly do so, you may have to pay a civil penalty up to $10,000. A person who willfully fails to CAUTION report an account or provide account identifying information may be subject to a civil penalty equal to the greater of $100,000 or 50 percent of the balance in the account at the time of the violation. Willful violations may also be subject to criminal penalties. Line 7b. If you are required to file FinCEN Form 114, enter the name of the foreign country or countries in the space provided on line 7b. Attach a separate statement if you need more space. Line 8. If you received a distribution from a foreign trust, you must provide additional information. For this purpose, a loan of cash or marketable securities generally is considered to be a distribution. See Form 3520 for details. If you were the grantor of, or transferor to, a foreign trust that existed during 2015, you may have to file Form 3520. Do not attach Form 3520 to Form 1040. Instead, file it at the address shown in its instructions. If you were treated as the owner of a foreign trust under the grantor trust rules, you are also responsible for ensuring that the foreign trust files Form 3520-A. Form 3520-A is due on March 15, 2016, for a calendar year trust. See the instructions for Form 3520-A for more details. SCHEDULE C (Form 1040) Profit or Loss From Business OMB No. 1545-0074 2015 (Sole Proprietorship) about Schedule C and its separate instructions is at www.irs.gov/schedulec. Attach to Form 1040, 1040NR, or 1041; partnerships generally must file Form 1065. Information Department of the Treasury Internal Revenue Service (99) Attachment Sequence No. 09 Name of proprietor Social security number (SSN) A B Enter code from instructions Principal business or profession, including product or service (see instructions) C Business name. If no separate business name, leave blank. E Business address (including suite or room no.) F G H City, town or post office, state, and ZIP code Cash (2) Accrual (3) Other (specify) Accounting method: (1) Did you \"materially participate\" in the operation of this business during 2015? If \"No,\" see instructions for limit on losses If you started or acquired this business during 2015, check here . . . . . . . . . . . . . . . . . I J Did you make any payments in 2015 that would require you to file Form(s) 1099? (see instructions) . If "Yes," did you or will you file required Forms 1099? . . . . . . . . . . . . . . Part I D Employer ID number (EIN), (see instr.) Income . . . . . . . . 2 3 Gross receipts or sales. See instructions for line 1 and check the box if this income was reported to you on Form W-2 and the \"Statutory employee\" box on that form was checked . . . . . . . . . Returns and allowances . . . . . . . . . . . . . . . . . . . . . . . . . Subtract line 2 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . 4 5 6 Cost of goods sold (from line 42) . . . . . . . . . . . . . . . . . . . Gross profit. Subtract line 4 from line 3 . . . . . . . . . . . . . . . . . Other income, including federal and state gasoline or fuel tax credit or refund (see instructions) . . . . . . . . . . 4 5 6 7 Gross income. Add lines 5 and 6 . . . 7 8 Advertising . 9 Car and truck expenses (see instructions) . . . . . Commissions and fees . 1 Part II 10 11 12 13 . . . . Contract labor (see instructions) Depletion . . . . . Depreciation and section 179 expense deduction (not included in Part III) (see instructions) . . . . . 14 Employee benefit programs (other than on line 19) . . Insurance (other than health) 15 16 . . . . . . . . . . . . . . . . Expenses. Enter expenses for business use of your home only on line 30. 8 9 10 Office expense (see instructions) 18 Pension and profit-sharing plans . Rent or lease (see instructions): Vehicles, machinery, and equipment 19 20a Other business property . . . Repairs and maintenance . . . Supplies (not included in Part III) . 20b 21 22 Taxes and licenses . . . . . Travel, meals, and entertainment: Travel . . . . . . . . . 23 24a 25 Deductible meals and entertainment (see instructions) . Utilities . . . . . . . . 24b 25 26 27a b Wages (less employment credits) . Other expenses (from line 48) . . Reserved for future use . . . 26 27a 27b 21 22 23 24 a 14 15 b 17 Interest: Mortgage (paid to banks, etc.) Other . . . . . . Legal and professional services 28 Total expenses before expenses for business use of home. Add lines 8 through 27a . . . . . . 28 29 30 Tentative profit or (loss). Subtract line 28 from line 7 . . . . . . . 29 a b 16a 16b 17 . . . . . . . . . . . . Use the Simplified . . . . . . . Net profit or (loss). Subtract line 30 from line 29. If a profit, enter on both Form 1040, line 12 (or Form 1040NR, line 13) and on Schedule SE, line 2. (If you checked the box on line 1, see instructions). Estates and trusts, enter on Form 1041, line 3. If a loss, you must go to line 32. 32 Yes Yes No No . . Expenses for business use of your home. Do not report these expenses elsewhere. Attach Form 8829 unless using the simplified method (see instructions). Simplified method filers only: enter the total square footage of: (a) your home: and (b) the part of your home used for business: Method Worksheet in the instructions to figure the amount to enter on line 30 31 . No 2 3 19 20 b 13 . . . Yes 1 18 a 11 12 . . . . If you have a loss, check the box that describes your investment in this activity (see instructions). If you checked 32a, enter the loss on both Form 1040, line 12, (or Form 1040NR, line 13) and on Schedule SE, line 2. (If you checked the box on line 1, see the line 31 instructions). Estates and trusts, enter on Form 1041, line 3. If you checked 32b, you must attach Form 6198. Your loss may be limited. For Paperwork Reduction Act Notice, see the separate instructions. Cat. No. 11334P } } 30 31 32a 32b All investment is at risk. Some investment is not at risk. Schedule C (Form 1040) 2015 Page 2 Schedule C (Form 1040) 2015 Part III Cost of Goods Sold (see instructions) 33 Method(s) used to value closing inventory: 34 Was there any change in determining quantities, costs, or valuations between opening and closing inventory? If \"Yes,\" attach explanation . . . . . . . . . . . . . . . . . . . . . . . . . a b Cost c Lower of cost or market Other (attach explanation) 35 Inventory at beginning of year. If different from last year's closing inventory, attach explanation . . . 35 36 Purchases less cost of items withdrawn for personal use . . . . . . . . . . . . . . 36 37 Cost of labor. Do not include any amounts paid to yourself . . . . . . . . . . . . . . 37 38 Materials and supplies . . . . . . . . . . . . . . . . . . . . . . . . 38 39 Other costs . . . . . . . . . . . . . . . . . . . . . . . . . 39 40 Add lines 35 through 39 . . . . . . . . . . . . . . . . . . . . . . . . 40 41 Inventory at end of year . . . . . . . . . . . . . . . . . . . . . . . . 41 42 Cost of goods sold. Subtract line 41 from line 40. Enter the result here and on line 4 . . . . . . 42 Part IV . . . Yes . Information on Your Vehicle. Complete this part only if you are claiming car or truck expenses on line 9 and are not required to file Form 4562 for this business. See the instructions for line 13 to find out if you must file Form 4562. / / 43 When did you place your vehicle in service for business purposes? (month, day, year) 44 Of the total number of miles you drove your vehicle during 2015, enter the number of miles you used your vehicle for: a No b Commuting (see instructions) Business c Other Yes No 45 Was your vehicle available for personal use during off-duty hours? . . . . . . . . . . . . . . 46 Do you (or your spouse) have another vehicle available for personal use?. . . . . . . . . . . . . . Yes No 47a Do you have evidence to support your deduction? . . . . . . . . . . . . . . . . . . . . Yes No If \"Yes,\" is the evidence written? . . . . . . . . . . . . . . . . . . . . Yes No b Part V 48 . . . . . . Other Expenses. List below business expenses not included on lines 8-26 or line 30. Total other expenses. Enter here and on line 27a . . . . . . . . . . . . . . . . 48 Schedule C (Form 1040) 2015 SCHEDULE E (Form 1040) Department of the Treasury Internal Revenue Service (99) Name(s) shown on return Part I Supplemental Income and Loss OMB No. 1545-0074 2015 (From rental real estate, royalties, partnerships, S corporations, estates, trusts, REMICs, etc.) Attach to Form 1040, 1040NR, or Form 1041. about Schedule E and its separate instructions is at www.irs.gov/schedulee. Information Attachment Sequence No. 13 Your social security number Income or Loss From Rental Real Estate and Royalties Note: If you are in the business of renting personal property, use Schedule C or C-EZ (see instructions). If you are an individual, report farm rental income or loss from Form 4835 on page 2, line 40. A Did you make any payments in 2015 that would require you to file Form(s) 1099? (see instructions) Yes No B If \"Yes,\" did you or will you file required Forms 1099? Yes No 1a Physical address of each property (street, city, state, ZIP code) A B C Fair Rental Personal Use 2 For each rental real estate property listed 1b Type of Property QJV above, report the number of fair rental and Days Days (from list below) personal use days. Check the QJV box A A only if you meet the requirements to file as a qualified joint venture. See instructions. B B C C Type of Property: 1 Single Family Residence 3 Vacation/Short-Term Rental 5 Land 7 Self-Rental 2 Multi-Family Residence 4 Commercial 6 Royalties 8 Other (describe) Income: Properties: A B C 3 Rents received . . . . . . . . . . . . . 3 4 Royalties received . . . . . . . . . . . . 4 Expenses: 5 Advertising . . . . . . . . . . . . . . 5 6 Auto and travel (see instructions) . . . . . . . 6 7 Cleaning and maintenance . . . . . . . . . 7 8 Commissions. . . . . . . . . . . . . . 8 9 Insurance . . . . . . . . . . . . . . . 9 10 Legal and other professional fees . . . . . . . 10 11 Management fees . . . . . . . . . . . . 11 12 Mortgage interest paid to banks, etc. (see instructions) 12 13 Other interest. . . . . . . . . . . . . . 13 14 Repairs. . . . . . . . . . . . . . . . 14 15 Supplies . . . . . . . . . . . . . . . 15 16 Taxes . . . . . . . . . . . . . . . . 16 17 Utilities . . . . . . . . . . . . . . . . 17 18 Depreciation expense or depletion . . . . . . . 18 Other (list) 19 19 20 Total expenses. Add lines 5 through 19 . . . . . 20 Subtract line 20 from line 3 (rents) and/or 4 (royalties). If result is a (loss), see instructions to find out if you must file Form 6198 . . . . . . . . . . . . . 21 Deductible rental real estate loss after limitation, if any, 22 )( on Form 8582 (see instructions) . . . . . . . 22 ( 23a Total of all amounts reported on line 3 for all rental properties . . . . 23a b Total of all amounts reported on line 4 for all royalty properties . . . . 23b c Total of all amounts reported on line 12 for all properties . . . . . . 23c d Total of all amounts reported on line 18 for all properties . . . . . . 23d e Total of all amounts reported on line 20 for all properties . . . . . . 23e 24 Income. Add positive amounts shown on line 21. Do not include any losses . . . . . . . 25 Losses. Add royalty losses from line 21 and rental real estate losses from line 22. Enter total losses here 21 26 Total rental real estate and royalty income or (loss). Combine lines 24 and 25. Enter the result here. If Parts II, III, IV, and line 40 on page 2 do not apply to you, also enter this amount on Form 1040, line 17, or Form 1040NR, line 18. Otherwise, include this amount in the total on line 41 on page 2 . . . . For Paperwork Reduction Act Notice, see the separate instructions. Cat. No. 11344L )( ) 24 25 ( ) 26 Schedule E (Form 1040) 2015 Attachment Sequence No. 13 Page 2 Your social security number Schedule E (Form 1040) 2015 Name(s) shown on return. Do not enter name and social security number if shown on other side. Caution. The IRS compares amounts reported on your tax return with amounts shown on Schedule(s) K-1. Income or Loss From Partnerships and S Corporations Part II Note: If you report a loss from an at-risk activity for which any amount is not at risk, you must check the box in column (e) on line 28 and attach Form 6198. See instructions. 27 Are you reporting any loss not allowed in a prior year due to the at-risk, excess farm loss, or basis limitations, a prior year unallowed loss from a passive activity (if that loss was not reported on Form 8582), or unreimbursed partnership expenses? If you answered \"Yes,\" see instructions before completing this section. Yes No 28 A B C D (h) Nonpassive loss from Schedule K-1 . . . . . . . . . . . . (loss). Combine . . . . . . . . . . . . . . . . . . lines 30 and 31. . . . . . . . . . . Enter . . . . the . Totals Totals Add columns (d) and (f) of line 34a Add columns (c) and (e) of line 34b Total estate and trust income or include in the total on line 41 below Part IV 38 . . . . . . . . . . . . . . . . Combine lines 35 and . . . . . . . . (e) Deduction or loss from Schedule K-1 . . . . . . . . . . 36. Enter the . . . . . . . . . result . . . . . . . . here and . . . (f) Other income from Schedule K-1 35 36 ( ) 37 Income or Loss From Real Estate Mortgage Investment Conduits (REMICs)Residual Holder (a) Name (b) Employer identification number (c) Excess inclusion from Schedules Q, line 2c (see instructions) (d) Taxable income (net loss) from Schedules Q, line 1b Combine columns (d) and (e) only. Enter the result here and include in the total on line 41 below Part V (e) Income from Schedules Q, line 3b 39 Summary 40 41 Net farm rental income or (loss) from Form 4835. Also, complete line 42 below . . . . . . Total income or (loss). Combine lines 26, 32, 37, 39, and 40. Enter the result here and on Form 1040, line 17, or Form 1040NR, line 18 42 Reconciliation of farming and fishing income. Enter your gross farming and fishing income reported on Form 4835, line 7; Schedule K-1 (Form 1065), box 14, code B; Schedule K-1 (Form 1120S), box 17, code V; and Schedule K-1 (Form 1041), box 14, code F (see instructions) . . 42 Reconciliation for real estate professionals. If you were a real estate professional (see instructions), enter the net income or (loss) you reported anywhere on Form 1040 or Form 1040NR from all rental real estate activities in which you materially participated under the passive activity loss rules . . 43 43 32 Nonpassive Income and Loss (d) Passive income from Schedule K-1 . . . . (loss). . . ) (b) Employer identification number Passive Income and Loss (c) Passive deduction or loss allowed (attach Form 8582 if required) (j) Nonpassive income from Schedule K-1 30 31 ( (a) Name A B (e) Check if any amount is not at risk (i) Section 179 expense deduction from Form 4562 Income or Loss From Estates and Trusts 33 39 (d) Employer identification number Nonpassive Income and Loss (g) Passive income from Schedule K-1 Totals Totals Add columns (g) and (j) of line 29a . . . . . . Add columns (f), (h), and (i) of line 29b . . . . Total partnership and S corporation income or result here and include in the total on line 41 below Part III A B 34a b 35 36 37 (c) Check if foreign partnership Passive Income and Loss (f) Passive loss allowed (attach Form 8582 if required) A B C D 29a b 30 31 32 (b) Enter P for partnership; S for S corporation (a) Name 40 41 Schedule E (Form 1040) 2015