This assignment requires you to complete four tax forms (Form 1040, Schedule 1, Schedule B, and Qualified Dividends and Capital Gain Tax Worksheet, using the provided taxpayer information. The forms provided are for tax year 2019 - (for the W-2, 1099-INT, and 1099-DIV)
Alexander Smith and his wife Allison are married and file a joint tax return for 2019. The Smiths live at 1234 Buena Vista Drive, Orlando, FL 32830. Alexander is a commuter airline pilot but took 6 months off from his job in 2019 to obtain a higher level pilots license. The Smiths have a 17 year-old son, Brad, who is enrolled in eleventh grade at the Walt Disney Prep School. The Smiths also have an 18 year-old daughter, Angelina, who is a part-time first year student at Orange County Community College (OCCC). Angelina is married to Sean Shirker, who is 19 years old and also a part-time student at OCCC. Sean and Angelina have a 1 year old child, Trask (Social Security number 115-45-7893). All the Shirkers live in an apartment near the Smiths. Angelina and Sean both also work part-time for Seans wealthy grandfather as apprentices in his business. The Shirkers wages for the year were $50,000 which allowed them to pay all the personal expenses for themselves and Trask.
| Name | Social Security number | Date of birth |
| Alexander Smith | 266-15-1966 | 09/22/1970 |
| Allison Smith | 266-34-1967 | 07/01/1971 |
| Brad Smith | 261-55-2121 | 12/21/2002 |
| Angelina Shirker | 261-45-1212 | 03/31/2001 |
| Sean Shirker | 546-78-1235 | 05/01/2000 |
| Trask Shirker | 115-45-7893 | 10/21/2018 |
Five years ago, Alexander divorced Jennifer Amistad (Social Security number 341-55-6789). Alexander pays Jennifer $200 per month in alimony under the divorce decree.
Not included with the Smiths tax forms was interest from State of Florida bonds of $145.00.
Complete the Schedule B first, then Schedule 1, then the Form 1040 down through Line 10. Then complete the Qual Div worksheet and use that information to complete the rest of the Form 1040.
a Employee's social security number 266-15-1966 b Employer identification number (EIN) 60-3456789 c Employer's name, address, and ZIP code Kissimmee Airlines, Inc. 2432 Bay Blvd. Kissimmee, FL 34741 Safe, accurate, Visit the IRS website at FAST! Use OMB No. 1545-0008 irse , file www.irs.gov/efile 1 Wages, tips, other compensation 2 Federal income tax withheld 64,890.00 6,010.00 3 Social security wages 4 Social security tax withheld 68, 162.00 4,226.04 5 Medicare wages and tips 6 Medicare tax withheld 68, 162.00 988.35 7 Social security tips 8 Allocated tips d Control number 9 Verification code 10 Dependent care benefits Suff. 11 Nonqualified plans 12a See instructions for box 12 D 3, 272.00 e Employee's first name and initial Last name Alexander T. Smith 1234 Buena Vista Drive Orlando, FL 32830 13 Statutory employee Retirement plan Third-party sick pay 12b 14 Other 12c 12d 9 f Employee's address and ZIP code 15 State Employer's state ID number FL 16 State wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 Locality name Department of the Treasury-Internal Revenue Service For W-2 Wage and Tax 2018 Statement Copy B-To Be Filed With Employee's FEDERAL Tax Return. This information is being furnished to the Internal Revenue Service. CORRECTED (if checked) PAYER'S name, street address, city or town, state or province, country, ZIP Payer's RTN (optional) or foreign postal code, and telephone no. OMB No. 1545-0112 2018 Interest Income 1 Interest income Orlando National Bank 9871 Disney Way Orlando, FL 32801 1,475.88 Form 1099-INT 2 Early withdrawal penalty Copy B PAYER'S TIN RECIPIENT'S TIN For Recipient 3 Interest on U.S. Savings Bonds and Treas. obligations 60-7654321 266-15-1966 RECIPIENT'S name 4 Federal income tax withheld 5 Investment expenses This is important tax $ information and is Alexander T. Smith being furnished to the 6 Foreign tax paid 7 Foreign country or U.S. possession IRS. If you are Street address (including apt. no.) required to file a 8 Tax-exempt interest 9 Specified private activity bond 1234 Buena Vista Drive return, a negligence interest penalty or other sanction may be City or town, state or province, country, and ZIP or foreign postal code $ imposed on you if 10 Market discount 11 Bond premium this income is Orlando, FL 32830 taxable and the IRS determines that it has FATCA filing not been reported. requirement 12 Bond premium on Treasury obligations 13 Bond premium on tax-exempt bond $ $ Account number (see instructions) 14 Tax-exempt and tax credit 15 State 16 State identification no. 17 State tax withheld bond CUSIP no. $ Form 1099-INT (keep for your records) www.irs.gov/Form1099INT Department of the Treasury - Internal Revenue Service OMB No. 1545-0110 2018 CORRECTED (if checked) PAYER'S name, street address, city or town, state or province, country, ZIP 1a Total ordinary dividends or foreign postal code, and telephone no. 1,511.00 $ Disney Parking Corporation 1b Qualified dividends 1500 Reams Rd. 1,005.00 Lake Buena Vista, FL 32830 $ 2a Total capital gain distr. $ PAYER'S TIN RECIPIENT'S TIN 2c Section 1202 gain Dividends and Distributions Form 1099-DIV 2b Unrecap. Sec. 1250 gain $ Copy B For Recipient 2d Collectibles (28%) gain 57-4443344 266-34-1967 $ $ RECIPIENT'S name 4 Federal income tax withheld 100.00 $ Allison Smith 3 Nondividend distributions $ 5 Section 199A dividends $ 7 Foreign tax paid Street address (including apt. no.) 6 Investment expenses $ 8 Foreign country or U.S. possession 1234 Buena Vista Drive This is important tax information and is being furnished to the IRS. If you are required to file a return, 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. City or town, state or province, country, and ZIP or foreign postal code $ Orlando FL 32830 9 Cash liquidation distributions 10 Noncash liquidation distributions $ $ FATCA filing 11 Exempt-interest dividends 12 Specified private activity requirement bond interest dividends $ 13 State Account number (see instructions) $ 14 State identification no. 15 State tax withheld $ Form 1099-DIV (keep for your records) www.irs.gov/Form 1099DIV Department of the Treasury - Internal Revenue Service 19 2019 Single Department of the Treasury-Internal Revenue Service U.S. OMB No. 1545-0074 IRS Use Only- Do not write or staple in this space. Filing Status Married filing jointly Married filing separately (MFS) Head of household (HOH) Qualifying widow(er) (QW) Check only If you checked the MFS box, enter the name of spouse. If you checked the HOH or QW box, enter the child's name if the qualifying person is one box. a child but not your dependent. I Your first name and middle initial Last name Your social security number Alexander T. Smith 2 6 6 1 $ 1 9 6 6 If joint return, spouse's first name and middle initial Last name Spouse's social security number Allison Smith 2 6 6 3 4 1 9 6 7 Home address (number and street). If you have a P.O. box, see instructions. Apt. no. Presidential Election Campaign 1234 Buena Vista Drive Check here if you, or your spouse if filing jointly, want $3 to go to this fund. City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Checking a box below will not change your Orlando, FL 32830 tax or refund. You Spouse Foreign country name Foreign province/state/county Foreign postal code of more than four dependents, see instructions and here Standard Someone can claim: You as a dependent Your spouse as a dependent a Deduction Spouse itemizes on a separate return or you were a dual-status alien Age/Blindness You: Were born before January 2, 1955 Are blind Spouse: Was born before January 2, 1955 Is blind Dependents (see instructions): (2) Social security number (3) Relationship to you (4) if qualifies for (see instructions): (1) First name Last name Child tax credit Credit for other dependents Brad Smith 2 6 1 5 5 2 1 2 1 Son 1 64890 2b 1475.88 1005 3b 4b 4d 5b 6 7a 1 Wages, salaries, tips, etc. Attach Form(s) W-2. 2a Tax-exempt interest. 2a 215 b Taxable interest. Attach Sch. B if required 3a Qualified dividends 3a 1005 b Ordinary dividends. Attach Sch. B if required Standard Deduction for 4a IRA distributions. 4a b Taxable amount Single or Married Pensions and annuities 4c d Taxable amount filing separately. $12,200 5a Social security benefits 5a b Taxable amount Married filing 6 jointly or Qualifying Capital gain or loss). Attach Schedule D if required. If not required, check here widow(er), 7a Other income from Schedule 1, line 9 $24,400 Head of b Add lines 1, 2b, 3b, 4b, 40, 5b, 6, and 7a. This is your total income household, 8 Adjustments to income from Schedule 1, line 22 $18,350 If you checked b Subtract line 8a from line 7b. This is your adjusted gross income any box under 9 Standard 9 Standard deduction or itemized deductions (from Schedule A) Deduction 10 Qualified business income deduction. Attach Form 8995 or Form 8995-A 10 see instructions. 11a Add lines 9 and 10 ... b Taxable income. Subtract line 11a from line 8b. If zero or less, enter-O- For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Cat. No. 11320B 7b Ba 8b 11a 11b Form 1040 (2019) a C Form 1040 (2019) Page 2 12a Tax (see inst.) Check if any from Form(s): 1 8814 24972 3 12a b Add Schedule 2, line 3, and line 12a and enter the total 12b 13a Child tax credit or credit for other dependents . 13a b Add Schedule 3, line 7, and line 13a and enter the total 13b 14 Subtract line 13b from line 12b. If zero or less, enter-O- 14 15 Other taxes, including self-employment tax, from Schedule 2, line 10 15 16 Add lines 14 and 15. This is your total tax. 16 17 Federal income tax withheld from Forms W-2 and 1099 17 18 . If you have a Other payments and refundable credits: qualifying child, Earned income credit (EIC). . 18a attach Sch. EIC 18b b Additional child tax credit. Attach Schedule 8812 . If you have nontaxable American opportunity credit from Form 8863, line 8 18c combat pay, see instructions. d Schedule 3, line 14 . 18d Add lines 18a through 18d. These are your total other payments and refundable credits 18e 19 Add lines 17 and 18e. These are your total payments 19 Refund 20 If line 19 is more than line 16, subtract line 16 from line 19. This is the amount you overpaid 20 21a Amount of line 20 you want refunded to you. If Form 8888 is attached, check here 21a Direct deposit? Routing number c Type: Checking Savings See instructions. d Account number 22 Amount of line 20 you want applied to your 2020 estimated tax 22 Amount 23 Amount you owe. Subtract line 19 from line 16. For details on how to pay, see instructions 23 You Owe 24 Estimated tax penalty (see instructions)... 24 Third Party Do you want to allow another person (other than your paid preparer) to discuss this return with the IRS? See instructions. Yes. Complete below. Designee No (Other than Designee's Phone Personal identification paid preparer) name no. number (PIN) Sign Under penalties of perjury. I declare that I have examined this retum and accompanying schedules and statements, and to the best of my knowledge and belief, they are true. correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Here Your signature Date Your occupation If the IRS sent you an Identity Protection PIN, enter it here Joint return? (see inst.) See instructions. Spouse's signature. If a joint return, both must sign. Date Spouse's occupation If the IRS sent your spouse an Keep a copy for Identity Protection PIN, enter it here your records. (see inst.) Phone no. Email address Preparer's name Preparer's signature Date PTIN Check if: Paid 3rd Party Designee Preparer Firm's name Phone no. Self-employed Use Only Firm's address Firm's EIN Go to www.irs.gov/Form 1040 for instructions and the latest information. Form 1040 (2019) OMB No. 1545-0074 SCHEDULE B (Form 1040 or 1040-SR) Interest and Ordinary Dividends Go to www.irs.gov/Schedule for instructions and the latest information. Attach to Form 1040 or 1040-SR. 2019 Department of the Treasury Internal Revenue Service (59) Name(s) shown on return Attachment Sequence No. 08 Your social security number Part 1 1 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 the instructions and list this interest first. Also, show that buyer's social security number and address Interest (See instructions and the instructions for Forms 1040 and 1040-SR, line 2b.) 1 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. 2 Add the amounts on line 1 3 Excludable interest on series EE and I U.S. savings bonds issued after 1989. Attach Form 8815. 4 Subtract line 3 from line 2. Enter the result here and on Form 1040 or 1040-SR, line 2b Note: If line 4 is over $1,500, you must complete Part III. Part II 5 List name of payer Ordinary Dividends 2 3 4 Amount (See instructions and the instructions for Forms 1040 and 1040-SR, line 3b.) 5 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. 6 Add the amounts on line 5. Enter the total here and on Form 1040 or 1040-SR, line 3b 6 Note: If line 6 is over $1,500, you must complete Part III. Part III You must complete this part if you (a) had over $1,500 of taxable interest or ordinary dividends; (b) had a Yes No foreign account; or (c) received a distribution from, or were a grantor of, or a transferor to, a foreign trust. Foreign 7a At any time during 2019, did you have a financial interest in or signature authority over a financial Accounts account (such as a bank account, securities account, or brokerage account) located in a foreign and Trusts country? See instructions Caution: If If "Yes, are you required to file FinCEN Form 114, Report of Foreign Bank and Financial required, failure Accounts (FBAR), to report that financial interest or signature authority? See FinCEN Form 114 to file FinCEN and its instructions for filing requirements and exceptions to those requirements. Form 114 may result in b If you are required to file FinCEN Form 114, enter the name of the foreign country where the substantial financial account is located penalties. See 8 During 2019, did you receive a distribution from, or were you the grantor of, or transferor to, a instructions. foreign trust? If "Yes," you may have to file Form 3520. See instructions . For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 17146N Schedule B (Form 1040 or 1040-SR) 2019 Qualified Dividends and Capital Gain Tax Worksheet (2019) See Form 1040 instructions for line 12a to see if the taxpayer can use this worksheet to compute the taxpayer's tax. Before completing this worksheet, complete Form 1040 through line 11b. If the taxpayer does not have to file Schedule D (Form 1040) and received capital gain distributions, be sure the box on line 6, Form 1040, is checked. 1) Enter the amount from Form 1040, line 11b. However, if filing Form 2555 (relating to foreign earned income), enter the amount from line 3 of the Foreign Earned Income Tax Worksheet. 1) 2) Enter the amount from Form 1040, line 3a* 2) 3) Is Schedule D being filed?* Yes. Enter the smaller of line 15 or 16 of Schedule D. If either line 15 or line 16 is blank or a loss, enter -O-. No. Enter the amount from Form 1040, line 6.. 3) 4) Add lines 2 and 3. 4) 5) If filing Form 4952 (used to figure investment interest expense deduction), enter any amount from line 4g of that form. Otherwise, enter-O- 5) 6) Subtract line 5 from line 4. If zero or less, enter-O- 6) 7) Subtract line 6 from line 1. If zero or less, enter-O- 7) 8) Enter: $39,375 if Single or Married Filing Separately, $78,750 if Married Filing Jointly or Qualifying Widowler), $52,750 if Head of Household 8) 9) Enter the smaller of line 1 or line 8. 9) 10) Enter the smaller of line 7 or line 9 10) 11) Subtract line 10 from line 9. This amount is taxed at 0% 11) 12) Enter the smaller of line 1 or line 6. 12) 13) Enter the amount from line 11 13) 14) Subtract line 13 from line 12 14) 15) Enter: . $434,550 if Single, $244,425 if Married Filing Separately, $488,850 if Married Filing Jointly or Qualifying Widowler), $461,700 if Head of Household.. 15) 16) Enter the smaller of line 1 or line 15 16) 17) Add lines 7 and 11. 17) 18) Subtract line 17 from line 16. If zero or less, enter -O- 18) 19) Enter the smaller of line 14 or line 18. 19) 20) Multiply line 19 by 15% (.15).. 20) 21) Add lines 11 and 19. 21) 22) Subtract line 21 from line 12.. 22) 23) Multiply line 22 by 20% (.20). 23) 24) 24) Compute the tax on the amount on line 7. If the amount on line 7 is less than $100,000, use the Tax Table to compute the tax. If the amount on line 7 is $100,000 or more, use the Tax Computation Worksheet. 25) Add lines 20, 23, and 24... 25) 26) Compute the tax on the amount on line 1. If the amount on line 1 is less than $100,000, use the Tax Table to compute the tax. If the amount on line 1 is $100,000 or more, use the Tax Computation Worksheet.. 26) 27) Tax on all taxable income. Enter the smaller of line 25 or line 26. Also include this amount on Form 1040, line 12a. If filing Form 2555, do not enter this amount on Form 1040, line 12a. Instead, enter it on line 4 of the Foreign Earned Income Tax Worksheet.... 27) * If you are filing Form 2555, see the footnote in the Foreign Earned Income Tax Worksheet before completing this line. Tools for Tax Pros The TaxBookTM OMB No. 1545-0074 SCHEDULE 1 (Form 1040 or 1040-SR) Additional Income and Adjustments to Income Department of the Treasury Attach to Form 1040 or 1040-SR. Internal Revenue Service Go to www.irs.gov/Form 1040 for instructions and the latest information. Name(s) shown on Form 1040 or 1040-SR 2019 Attachment Sequence No. 01 Your social security number 5 9 At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency? Yes No Part 1 Additional Income 1 Taxable refunds, credits, or offsets of state and local income taxes 1 2a 2a Alimony received b Date of original divorce or separation agreement (see instructions) 3 Business income or (loss). Attach Schedule C 3 4 Other gains or (losses). Attach Form 4797 4 5 Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E. 6 Farm income or loss). Attach Schedule F 6 7 Unemployment compensation 7 8 Other income. List type and amount 8 Combine lines 1 through 8. Enter here and on Form 1040 or 1040-SR, line 7a 9 Part II Adjustments to Income 10 Educator expenses 10 11 Certain business expenses of reservists, performing artists, and fee-basis government officials. Attach Form 2106 11 12 Health savings account deduction. Attach Form 8889 12 13 Moving expenses for members of the Armed Forces. Attach Form 3903 13 Deductible part of self-employment tax. Attach Schedule SE 14 15 Self-employed SEP, SIMPLE, and qualified plans 15 16 Self-employed health insurance deduction 16 17 Penalty on early withdrawal of savings 17 18a Alimony paid 18a b Recipient's SSN Date of original divorce or separation agreement (see instructions) 19 IRA deduction 19 20 Student loan interest deduction 20 21 Tuition and fees. Attach Form 8917 21 22 Add lines 10 through 21. These are your adjustments to income. Enter here and on Form 1040 or 1040-SR, line 8a 22 For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 71479F Schedule 1 (Form 1040 or 1040-SR) 2019 14 a Employee's social security number 266-15-1966 b Employer identification number (EIN) 60-3456789 c Employer's name, address, and ZIP code Kissimmee Airlines, Inc. 2432 Bay Blvd. Kissimmee, FL 34741 Safe, accurate, Visit the IRS website at FAST! Use OMB No. 1545-0008 irse , file www.irs.gov/efile 1 Wages, tips, other compensation 2 Federal income tax withheld 64,890.00 6,010.00 3 Social security wages 4 Social security tax withheld 68, 162.00 4,226.04 5 Medicare wages and tips 6 Medicare tax withheld 68, 162.00 988.35 7 Social security tips 8 Allocated tips d Control number 9 Verification code 10 Dependent care benefits Suff. 11 Nonqualified plans 12a See instructions for box 12 D 3, 272.00 e Employee's first name and initial Last name Alexander T. Smith 1234 Buena Vista Drive Orlando, FL 32830 13 Statutory employee Retirement plan Third-party sick pay 12b 14 Other 12c 12d 9 f Employee's address and ZIP code 15 State Employer's state ID number FL 16 State wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 Locality name Department of the Treasury-Internal Revenue Service For W-2 Wage and Tax 2018 Statement Copy B-To Be Filed With Employee's FEDERAL Tax Return. This information is being furnished to the Internal Revenue Service. CORRECTED (if checked) PAYER'S name, street address, city or town, state or province, country, ZIP Payer's RTN (optional) or foreign postal code, and telephone no. OMB No. 1545-0112 2018 Interest Income 1 Interest income Orlando National Bank 9871 Disney Way Orlando, FL 32801 1,475.88 Form 1099-INT 2 Early withdrawal penalty Copy B PAYER'S TIN RECIPIENT'S TIN For Recipient 3 Interest on U.S. Savings Bonds and Treas. obligations 60-7654321 266-15-1966 RECIPIENT'S name 4 Federal income tax withheld 5 Investment expenses This is important tax $ information and is Alexander T. Smith being furnished to the 6 Foreign tax paid 7 Foreign country or U.S. possession IRS. If you are Street address (including apt. no.) required to file a 8 Tax-exempt interest 9 Specified private activity bond 1234 Buena Vista Drive return, a negligence interest penalty or other sanction may be City or town, state or province, country, and ZIP or foreign postal code $ imposed on you if 10 Market discount 11 Bond premium this income is Orlando, FL 32830 taxable and the IRS determines that it has FATCA filing not been reported. requirement 12 Bond premium on Treasury obligations 13 Bond premium on tax-exempt bond $ $ Account number (see instructions) 14 Tax-exempt and tax credit 15 State 16 State identification no. 17 State tax withheld bond CUSIP no. $ Form 1099-INT (keep for your records) www.irs.gov/Form1099INT Department of the Treasury - Internal Revenue Service OMB No. 1545-0110 2018 CORRECTED (if checked) PAYER'S name, street address, city or town, state or province, country, ZIP 1a Total ordinary dividends or foreign postal code, and telephone no. 1,511.00 $ Disney Parking Corporation 1b Qualified dividends 1500 Reams Rd. 1,005.00 Lake Buena Vista, FL 32830 $ 2a Total capital gain distr. $ PAYER'S TIN RECIPIENT'S TIN 2c Section 1202 gain Dividends and Distributions Form 1099-DIV 2b Unrecap. Sec. 1250 gain $ Copy B For Recipient 2d Collectibles (28%) gain 57-4443344 266-34-1967 $ $ RECIPIENT'S name 4 Federal income tax withheld 100.00 $ Allison Smith 3 Nondividend distributions $ 5 Section 199A dividends $ 7 Foreign tax paid Street address (including apt. no.) 6 Investment expenses $ 8 Foreign country or U.S. possession 1234 Buena Vista Drive This is important tax information and is being furnished to the IRS. If you are required to file a return, 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. City or town, state or province, country, and ZIP or foreign postal code $ Orlando FL 32830 9 Cash liquidation distributions 10 Noncash liquidation distributions $ $ FATCA filing 11 Exempt-interest dividends 12 Specified private activity requirement bond interest dividends $ 13 State Account number (see instructions) $ 14 State identification no. 15 State tax withheld $ Form 1099-DIV (keep for your records) www.irs.gov/Form 1099DIV Department of the Treasury - Internal Revenue Service 19 2019 Single Department of the Treasury-Internal Revenue Service U.S. OMB No. 1545-0074 IRS Use Only- Do not write or staple in this space. Filing Status Married filing jointly Married filing separately (MFS) Head of household (HOH) Qualifying widow(er) (QW) Check only If you checked the MFS box, enter the name of spouse. If you checked the HOH or QW box, enter the child's name if the qualifying person is one box. a child but not your dependent. I Your first name and middle initial Last name Your social security number Alexander T. Smith 2 6 6 1 $ 1 9 6 6 If joint return, spouse's first name and middle initial Last name Spouse's social security number Allison Smith 2 6 6 3 4 1 9 6 7 Home address (number and street). If you have a P.O. box, see instructions. Apt. no. Presidential Election Campaign 1234 Buena Vista Drive Check here if you, or your spouse if filing jointly, want $3 to go to this fund. City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Checking a box below will not change your Orlando, FL 32830 tax or refund. You Spouse Foreign country name Foreign province/state/county Foreign postal code of more than four dependents, see instructions and here Standard Someone can claim: You as a dependent Your spouse as a dependent a Deduction Spouse itemizes on a separate return or you were a dual-status alien Age/Blindness You: Were born before January 2, 1955 Are blind Spouse: Was born before January 2, 1955 Is blind Dependents (see instructions): (2) Social security number (3) Relationship to you (4) if qualifies for (see instructions): (1) First name Last name Child tax credit Credit for other dependents Brad Smith 2 6 1 5 5 2 1 2 1 Son 1 64890 2b 1475.88 1005 3b 4b 4d 5b 6 7a 1 Wages, salaries, tips, etc. Attach Form(s) W-2. 2a Tax-exempt interest. 2a 215 b Taxable interest. Attach Sch. B if required 3a Qualified dividends 3a 1005 b Ordinary dividends. Attach Sch. B if required Standard Deduction for 4a IRA distributions. 4a b Taxable amount Single or Married Pensions and annuities 4c d Taxable amount filing separately. $12,200 5a Social security benefits 5a b Taxable amount Married filing 6 jointly or Qualifying Capital gain or loss). Attach Schedule D if required. If not required, check here widow(er), 7a Other income from Schedule 1, line 9 $24,400 Head of b Add lines 1, 2b, 3b, 4b, 40, 5b, 6, and 7a. This is your total income household, 8 Adjustments to income from Schedule 1, line 22 $18,350 If you checked b Subtract line 8a from line 7b. This is your adjusted gross income any box under 9 Standard 9 Standard deduction or itemized deductions (from Schedule A) Deduction 10 Qualified business income deduction. Attach Form 8995 or Form 8995-A 10 see instructions. 11a Add lines 9 and 10 ... b Taxable income. Subtract line 11a from line 8b. If zero or less, enter-O- For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Cat. No. 11320B 7b Ba 8b 11a 11b Form 1040 (2019) a C Form 1040 (2019) Page 2 12a Tax (see inst.) Check if any from Form(s): 1 8814 24972 3 12a b Add Schedule 2, line 3, and line 12a and enter the total 12b 13a Child tax credit or credit for other dependents . 13a b Add Schedule 3, line 7, and line 13a and enter the total 13b 14 Subtract line 13b from line 12b. If zero or less, enter-O- 14 15 Other taxes, including self-employment tax, from Schedule 2, line 10 15 16 Add lines 14 and 15. This is your total tax. 16 17 Federal income tax withheld from Forms W-2 and 1099 17 18 . If you have a Other payments and refundable credits: qualifying child, Earned income credit (EIC). . 18a attach Sch. EIC 18b b Additional child tax credit. Attach Schedule 8812 . If you have nontaxable American opportunity credit from Form 8863, line 8 18c combat pay, see instructions. d Schedule 3, line 14 . 18d Add lines 18a through 18d. These are your total other payments and refundable credits 18e 19 Add lines 17 and 18e. These are your total payments 19 Refund 20 If line 19 is more than line 16, subtract line 16 from line 19. This is the amount you overpaid 20 21a Amount of line 20 you want refunded to you. If Form 8888 is attached, check here 21a Direct deposit? Routing number c Type: Checking Savings See instructions. d Account number 22 Amount of line 20 you want applied to your 2020 estimated tax 22 Amount 23 Amount you owe. Subtract line 19 from line 16. For details on how to pay, see instructions 23 You Owe 24 Estimated tax penalty (see instructions)... 24 Third Party Do you want to allow another person (other than your paid preparer) to discuss this return with the IRS? See instructions. Yes. Complete below. Designee No (Other than Designee's Phone Personal identification paid preparer) name no. number (PIN) Sign Under penalties of perjury. I declare that I have examined this retum and accompanying schedules and statements, and to the best of my knowledge and belief, they are true. correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Here Your signature Date Your occupation If the IRS sent you an Identity Protection PIN, enter it here Joint return? (see inst.) See instructions. Spouse's signature. If a joint return, both must sign. Date Spouse's occupation If the IRS sent your spouse an Keep a copy for Identity Protection PIN, enter it here your records. (see inst.) Phone no. Email address Preparer's name Preparer's signature Date PTIN Check if: Paid 3rd Party Designee Preparer Firm's name Phone no. Self-employed Use Only Firm's address Firm's EIN Go to www.irs.gov/Form 1040 for instructions and the latest information. Form 1040 (2019) OMB No. 1545-0074 SCHEDULE B (Form 1040 or 1040-SR) Interest and Ordinary Dividends Go to www.irs.gov/Schedule for instructions and the latest information. Attach to Form 1040 or 1040-SR. 2019 Department of the Treasury Internal Revenue Service (59) Name(s) shown on return Attachment Sequence No. 08 Your social security number Part 1 1 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 the instructions and list this interest first. Also, show that buyer's social security number and address Interest (See instructions and the instructions for Forms 1040 and 1040-SR, line 2b.) 1 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. 2 Add the amounts on line 1 3 Excludable interest on series EE and I U.S. savings bonds issued after 1989. Attach Form 8815. 4 Subtract line 3 from line 2. Enter the result here and on Form 1040 or 1040-SR, line 2b Note: If line 4 is over $1,500, you must complete Part III. Part II 5 List name of payer Ordinary Dividends 2 3 4 Amount (See instructions and the instructions for Forms 1040 and 1040-SR, line 3b.) 5 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. 6 Add the amounts on line 5. Enter the total here and on Form 1040 or 1040-SR, line 3b 6 Note: If line 6 is over $1,500, you must complete Part III. Part III You must complete this part if you (a) had over $1,500 of taxable interest or ordinary dividends; (b) had a Yes No foreign account; or (c) received a distribution from, or were a grantor of, or a transferor to, a foreign trust. Foreign 7a At any time during 2019, did you have a financial interest in or signature authority over a financial Accounts account (such as a bank account, securities account, or brokerage account) located in a foreign and Trusts country? See instructions Caution: If If "Yes, are you required to file FinCEN Form 114, Report of Foreign Bank and Financial required, failure Accounts (FBAR), to report that financial interest or signature authority? See FinCEN Form 114 to file FinCEN and its instructions for filing requirements and exceptions to those requirements. Form 114 may result in b If you are required to file FinCEN Form 114, enter the name of the foreign country where the substantial financial account is located penalties. See 8 During 2019, did you receive a distribution from, or were you the grantor of, or transferor to, a instructions. foreign trust? If "Yes," you may have to file Form 3520. See instructions . For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 17146N Schedule B (Form 1040 or 1040-SR) 2019 Qualified Dividends and Capital Gain Tax Worksheet (2019) See Form 1040 instructions for line 12a to see if the taxpayer can use this worksheet to compute the taxpayer's tax. Before completing this worksheet, complete Form 1040 through line 11b. If the taxpayer does not have to file Schedule D (Form 1040) and received capital gain distributions, be sure the box on line 6, Form 1040, is checked. 1) Enter the amount from Form 1040, line 11b. However, if filing Form 2555 (relating to foreign earned income), enter the amount from line 3 of the Foreign Earned Income Tax Worksheet. 1) 2) Enter the amount from Form 1040, line 3a* 2) 3) Is Schedule D being filed?* Yes. Enter the smaller of line 15 or 16 of Schedule D. If either line 15 or line 16 is blank or a loss, enter -O-. No. Enter the amount from Form 1040, line 6.. 3) 4) Add lines 2 and 3. 4) 5) If filing Form 4952 (used to figure investment interest expense deduction), enter any amount from line 4g of that form. Otherwise, enter-O- 5) 6) Subtract line 5 from line 4. If zero or less, enter-O- 6) 7) Subtract line 6 from line 1. If zero or less, enter-O- 7) 8) Enter: $39,375 if Single or Married Filing Separately, $78,750 if Married Filing Jointly or Qualifying Widowler), $52,750 if Head of Household 8) 9) Enter the smaller of line 1 or line 8. 9) 10) Enter the smaller of line 7 or line 9 10) 11) Subtract line 10 from line 9. This amount is taxed at 0% 11) 12) Enter the smaller of line 1 or line 6. 12) 13) Enter the amount from line 11 13) 14) Subtract line 13 from line 12 14) 15) Enter: . $434,550 if Single, $244,425 if Married Filing Separately, $488,850 if Married Filing Jointly or Qualifying Widowler), $461,700 if Head of Household.. 15) 16) Enter the smaller of line 1 or line 15 16) 17) Add lines 7 and 11. 17) 18) Subtract line 17 from line 16. If zero or less, enter -O- 18) 19) Enter the smaller of line 14 or line 18. 19) 20) Multiply line 19 by 15% (.15).. 20) 21) Add lines 11 and 19. 21) 22) Subtract line 21 from line 12.. 22) 23) Multiply line 22 by 20% (.20). 23) 24) 24) Compute the tax on the amount on line 7. If the amount on line 7 is less than $100,000, use the Tax Table to compute the tax. If the amount on line 7 is $100,000 or more, use the Tax Computation Worksheet. 25) Add lines 20, 23, and 24... 25) 26) Compute the tax on the amount on line 1. If the amount on line 1 is less than $100,000, use the Tax Table to compute the tax. If the amount on line 1 is $100,000 or more, use the Tax Computation Worksheet.. 26) 27) Tax on all taxable income. Enter the smaller of line 25 or line 26. Also include this amount on Form 1040, line 12a. If filing Form 2555, do not enter this amount on Form 1040, line 12a. Instead, enter it on line 4 of the Foreign Earned Income Tax Worksheet.... 27) * If you are filing Form 2555, see the footnote in the Foreign Earned Income Tax Worksheet before completing this line. Tools for Tax Pros The TaxBookTM OMB No. 1545-0074 SCHEDULE 1 (Form 1040 or 1040-SR) Additional Income and Adjustments to Income Department of the Treasury Attach to Form 1040 or 1040-SR. Internal Revenue Service Go to www.irs.gov/Form 1040 for instructions and the latest information. Name(s) shown on Form 1040 or 1040-SR 2019 Attachment Sequence No. 01 Your social security number 5 9 At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency? Yes No Part 1 Additional Income 1 Taxable refunds, credits, or offsets of state and local income taxes 1 2a 2a Alimony received b Date of original divorce or separation agreement (see instructions) 3 Business income or (loss). Attach Schedule C 3 4 Other gains or (losses). Attach Form 4797 4 5 Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E. 6 Farm income or loss). Attach Schedule F 6 7 Unemployment compensation 7 8 Other income. List type and amount 8 Combine lines 1 through 8. Enter here and on Form 1040 or 1040-SR, line 7a 9 Part II Adjustments to Income 10 Educator expenses 10 11 Certain business expenses of reservists, performing artists, and fee-basis government officials. Attach Form 2106 11 12 Health savings account deduction. Attach Form 8889 12 13 Moving expenses for members of the Armed Forces. Attach Form 3903 13 Deductible part of self-employment tax. Attach Schedule SE 14 15 Self-employed SEP, SIMPLE, and qualified plans 15 16 Self-employed health insurance deduction 16 17 Penalty on early withdrawal of savings 17 18a Alimony paid 18a b Recipient's SSN Date of original divorce or separation agreement (see instructions) 19 IRA deduction 19 20 Student loan interest deduction 20 21 Tuition and fees. Attach Form 8917 21 22 Add lines 10 through 21. These are your adjustments to income. Enter here and on Form 1040 or 1040-SR, line 8a 22 For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 71479F Schedule 1 (Form 1040 or 1040-SR) 2019 14
