Using Case below please Fill out SCHEDULE D FORM based on current tax year, form attached below.

Denise Lopez, age 40, is single and has no dependents. She is employed as a legal secretary by Legal Services, Inc. She owns and operates Typing Services located near the campus of Florida Atlantic University at 1986 Campus Drive, Boca Raton, FL 33434. Denise is a material participant in the business, she is a cash basis taxpayer, and her Social Security number is 123-45-6781. Denise lives at 2020 Oakcrest Road, Boca Raton, FL 33431. Denise wants to designate $3 to the Presidential Election Campaign Fund. She has never owned or used any virtual currency. Denise received the appropriate coronavirus recovery rebates (economic impact payments); related questions in ProConnect Tax should be ignored. During 2020, Denise had the following income and expense items:

1. $100,000 salary from Legal Services, Inc.

2. $20,000 gross receipts from her typing services business.

3. $700 interest income from Third National Bank.

4. $1,000 Christmas bonus from Legal Services, Inc.

5. $60,000 life insurance proceeds on the death of her sister.

6. $5,000 check given to her by her wealthy aunt.

7. $100 won in a bingo game.

8. Expenses connected with Typing Services:

   Office rent	$7,000
   Supplies	4,400
   Utilities and telephone	4,680
   Wages to part-time typists	5,000
   Payroll taxes	500
   Equipment rentals	3,000

9. $9,500 interest expense on a home mortgage (paid to Boca Raton Savings and Loan).

10. $15,000 fair market value of silverware stolen from her home by a burglar on October 12, 2020. Denise had paid $14,000 for the silverware on July 1, 2010. She was reimbursed $10,000 by her insurance company.

11. Denise had loaned $2,100 to a friend, Joan Jensen, on June 3, 2016. Joan declared bankruptcy on August 14, 2020, and was unable to repay the loan. Assume that the loan is a bona fide debt.

12. Legal Services, Inc., withheld Federal income tax of $15,000 and the appropriate amount of FICA tax from her wages.

13. Alimony of $10,000 received from her former husband, Omar Guzman; divorce was finalized on December 2, 2013, and no changes have been made to the divorce decree since that time.

14. Interest income of $800 on City of Boca Raton bonds.

15. Denise made estimated Federal tax payments of $2,000.

16. Sales taxes from the sales tax table of $953.

17. Property taxes on her residence of $3,200.

18. Charitable contribution of $2,500 to her alma mater, Citrus State College.

19. On November 1, 2020, Denise was involved in an automobile accident. At the time of the accident, her automobiles FMV was $45,000. After the accident, the automobiles FMV was $38,000. Denise acquired the car on May 2, 2019, at a cost of $52,000. Denises car was covered by insurance, but because the policy had a $5,000 deduction clause, Denise decided not to file a claim for the damage.

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OMB No. 1545-0074 SCHEDULED (Form 1040) Capital Gains and Losses Attach to Form 1040, 1040-SR, or 1040-NR. Go to www.irs.gov/Scheduled for instructions and the latest information. Use Form 8949 to list your transactions for lines 1b, 2, 3, 8b, 9, and 10. Department of the Treasury Internal Revenue Service (99) Name(s) shown on return 2020 Attachment Sequence No. 12 Your social security number (d) Subtract column (e) Cost Did you dispose of any investment(s) in a qualified opportunity fund during the tax year? Yes No If "Yes," attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss. Part | Short-Term Capital Gains and Losses-Generally Assets Held One Year or Less (see instructions) See instructions for how to figure the amounts to enter on the (g) (h) Gain or loss) lines below. le) Adjustments Proceeds This form may be easier to complete if you round off cents to to gain or loss from from column (d) and (sales price) (or other basis) Form(s) 8949, Part 1 combine the result whole dollars. line 2, column (9) with column (g) 1a Totals for all short-term transactions reported on Form 1099-B for which basis was reported to the IRS and for which you have no adjustments (see instructions). However, if you choose to report all these transactions on Form 8949, leave this line blank and go to line 1b. 1b Totals for all transactions reported on Form(s) 8949 with Box A checked 2 Totals for all transactions reported on Form(s) 8949 with Box B checked 3 Totals for all transactions reported on Form(s) 8949 with Box C checked 4 Short-term gain from Form 6252 and short-term gain or loss) from Forms 4684, 6781, and 8824 4 5 Net short-term gain or loss) from partnerships, S corporations, estates, and trusts from Schedule(s) K-1 5 6 Short-term capital loss carryover. Enter the amount, if any, from line 8 of your Capital Loss Carryover Worksheet in the instructions 6 7 Net short-term capital gain or loss). Combine lines 1a through 6 in column (h). If you have any long- term capital gains or losses, go to Part Il below. Otherwise, go to Part III on the back 7 Part II Long-Term Capital Gains and Losses-Generally Assets Held More Than One Year (see instructions) See instructions for how to figure the amounts to enter on the (h) Gain or loss) lines below. Adjustments This form may be easier to complete if you round off cents to to gain or loss from from column (d) and (sales price) (g) Subtract column (e) (d) Proceeds le) Cost (or other basis) Form(s) 8949, Part II, combine the result line 2, column (9) with column (g) whole dollars. 8a Totals for all long-term transactions reported on Form 1099-B for which basis was reported to the IRS and for which you have no adjustments (see instructions). However, if you choose to report all these transactions on Form 8949, leave this line blank and go to line 8b 86 Totals for all transactions reported on Form(s) 8949 with Box D checked 9 Totals for all transactions reported on Form(s) 8949 with Box E checked 10 Totals for all transactions reported on Form(s) 8949 with Box F checked. 11 Gain from Form 4797, Part 1; long-term gain from Forms 2439 and 6252; and long-term gain or loss) from Forms 4684, 6781, and 8824 12 Net long-term gain or (loss) from partnerships, S corporations, estates, and trusts from Schedule(s) K-1 13 Capital gain distributions. See the instructions 14 Long-term capital loss carryover. Enter the amount, if any, from line 13 of your Capital Loss Carryover Worksheet in the instructions 15 Net long-term capital gain or (loss). Combine lines 8a through 14 in column (h). Then, go to Part III on the back. 11 12 13 14 15 Part III Summary 16 Combine lines 7 and 15 and enter the result 16 If line 16 is a gain, enter the amount from line 16 on Form 1040, 1040-SR, or 1040-NR, line 7. Then, go to line 17 below. If line 16 is a loss, skip lines 17 through 20 below. Then, go to line 21. Also be sure to complete line 22. If line 16 is zero, skip lines 17 through 21 below and enter -- on Form 1040, 1040-SR, or 1040-NR, line 7. Then, go to line 22. 18 17 Are lines 15 and 16 both gains? Yes. Go to line 18 No. Skip lines 18 through 21, and go to line 22. 18 If you are required to complete the 28% Rate Gain Worksheet (see instructions), enter the amount, if any, from line 7 of that worksheet 19 If you are required to complete the Unrecaptured Section 1250 Gain Worksheet (see instructions), enter the amount, if any, from line 18 of that worksheet 20 Are lines 18 and 19 both zero or blank and are you not filing Form 4952? Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Forms 1040 and 1040-SR, line 16. Don't complete lines 21 and 22 below. 19 No. Complete the Schedule D Tax Worksheet in the instructions. Don't complete lines 21 and 22 below. 21 If line 16 is a loss, enter here and on Form 1040, 1040-SR, or 1040-NR, line 7, the smaller of: The loss on line 16; or ($3,000), or if married filing separately, ($1,500) 21 Note: When figuring which amount is smaller, treat both amounts as positive numbers. 22 Do you have qualified dividends on Form 1040, 1040-SR, or 1040-NR, line 3a? Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Forms 1040 and 1040-SR, line 16. No. Complete the rest of Form 1040, 1040-SR, or 1040-NR. OMB No. 1545-0074 SCHEDULED (Form 1040) Capital Gains and Losses Attach to Form 1040, 1040-SR, or 1040-NR. Go to www.irs.gov/Scheduled for instructions and the latest information. Use Form 8949 to list your transactions for lines 1b, 2, 3, 8b, 9, and 10. Department of the Treasury Internal Revenue Service (99) Name(s) shown on return 2020 Attachment Sequence No. 12 Your social security number (d) Subtract column (e) Cost Did you dispose of any investment(s) in a qualified opportunity fund during the tax year? Yes No If "Yes," attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss. Part | Short-Term Capital Gains and Losses-Generally Assets Held One Year or Less (see instructions) See instructions for how to figure the amounts to enter on the (g) (h) Gain or loss) lines below. le) Adjustments Proceeds This form may be easier to complete if you round off cents to to gain or loss from from column (d) and (sales price) (or other basis) Form(s) 8949, Part 1 combine the result whole dollars. line 2, column (9) with column (g) 1a Totals for all short-term transactions reported on Form 1099-B for which basis was reported to the IRS and for which you have no adjustments (see instructions). However, if you choose to report all these transactions on Form 8949, leave this line blank and go to line 1b. 1b Totals for all transactions reported on Form(s) 8949 with Box A checked 2 Totals for all transactions reported on Form(s) 8949 with Box B checked 3 Totals for all transactions reported on Form(s) 8949 with Box C checked 4 Short-term gain from Form 6252 and short-term gain or loss) from Forms 4684, 6781, and 8824 4 5 Net short-term gain or loss) from partnerships, S corporations, estates, and trusts from Schedule(s) K-1 5 6 Short-term capital loss carryover. Enter the amount, if any, from line 8 of your Capital Loss Carryover Worksheet in the instructions 6 7 Net short-term capital gain or loss). Combine lines 1a through 6 in column (h). If you have any long- term capital gains or losses, go to Part Il below. Otherwise, go to Part III on the back 7 Part II Long-Term Capital Gains and Losses-Generally Assets Held More Than One Year (see instructions) See instructions for how to figure the amounts to enter on the (h) Gain or loss) lines below. Adjustments This form may be easier to complete if you round off cents to to gain or loss from from column (d) and (sales price) (g) Subtract column (e) (d) Proceeds le) Cost (or other basis) Form(s) 8949, Part II, combine the result line 2, column (9) with column (g) whole dollars. 8a Totals for all long-term transactions reported on Form 1099-B for which basis was reported to the IRS and for which you have no adjustments (see instructions). However, if you choose to report all these transactions on Form 8949, leave this line blank and go to line 8b 86 Totals for all transactions reported on Form(s) 8949 with Box D checked 9 Totals for all transactions reported on Form(s) 8949 with Box E checked 10 Totals for all transactions reported on Form(s) 8949 with Box F checked. 11 Gain from Form 4797, Part 1; long-term gain from Forms 2439 and 6252; and long-term gain or loss) from Forms 4684, 6781, and 8824 12 Net long-term gain or (loss) from partnerships, S corporations, estates, and trusts from Schedule(s) K-1 13 Capital gain distributions. See the instructions 14 Long-term capital loss carryover. Enter the amount, if any, from line 13 of your Capital Loss Carryover Worksheet in the instructions 15 Net long-term capital gain or (loss). Combine lines 8a through 14 in column (h). Then, go to Part III on the back. 11 12 13 14 15 Part III Summary 16 Combine lines 7 and 15 and enter the result 16 If line 16 is a gain, enter the amount from line 16 on Form 1040, 1040-SR, or 1040-NR, line 7. Then, go to line 17 below. If line 16 is a loss, skip lines 17 through 20 below. Then, go to line 21. Also be sure to complete line 22. If line 16 is zero, skip lines 17 through 21 below and enter -- on Form 1040, 1040-SR, or 1040-NR, line 7. Then, go to line 22. 18 17 Are lines 15 and 16 both gains? Yes. Go to line 18 No. Skip lines 18 through 21, and go to line 22. 18 If you are required to complete the 28% Rate Gain Worksheet (see instructions), enter the amount, if any, from line 7 of that worksheet 19 If you are required to complete the Unrecaptured Section 1250 Gain Worksheet (see instructions), enter the amount, if any, from line 18 of that worksheet 20 Are lines 18 and 19 both zero or blank and are you not filing Form 4952? Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Forms 1040 and 1040-SR, line 16. Don't complete lines 21 and 22 below. 19 No. Complete the Schedule D Tax Worksheet in the instructions. Don't complete lines 21 and 22 below. 21 If line 16 is a loss, enter here and on Form 1040, 1040-SR, or 1040-NR, line 7, the smaller of: The loss on line 16; or ($3,000), or if married filing separately, ($1,500) 21 Note: When figuring which amount is smaller, treat both amounts as positive numbers. 22 Do you have qualified dividends on Form 1040, 1040-SR, or 1040-NR, line 3a? Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Forms 1040 and 1040-SR, line 16. No. Complete the rest of Form 1040, 1040-SR, or 1040-NR