Using the information below, fill out a Forum 1040.

Taxpayer Information

Taxpayer name:

Bruce H. Harrison

Taxpayer SSN:

201-00-0045

Taxpayer DOB:

April 1, 1977

Taxpayer occupation:

Contractor

Spouse name:

Lois A. Harrison

Spouse SSN:

201-00-1451

Spouse DOB:

March 28, 1982

Spouse occupation:

Newscaster

Address:

1312 Locust Street

Your City, YS XXXXX

Cell phone (T):

(XXX) 555-6336; Preferred: Anytime;

FCC: Yes; OK to call

Cell phone (S):

(XXX) 555-6363; Anytime; FCC: Yes; OK to call

Health Insurance Information

Did everyone in the household have health insurance in 2019?

Yes

Total months covered through a state exchange or federal marketplace:

0

Total months covered through an employer-sponsored plan:

12

Was a Form 1095-A issued?

No

Bruce and Lois Harrison are new clients. Last year, they prepared their own return using online software, but this year, they would like professional assistance. They are married and wish to file a joint tax return. Both of their SSNs are valid for work in the U.S. and were received before the original filing due date of their return (including extensions). Both are U.S. citizens. No one may claim them as dependents. Neither is a student. They both wish to designate $3 to the Presidential Election Campaign Fund. Neither is blind or disabled.

Bruce and Lois did not suffer any casualty losses during the current tax year. They did not receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency. Neither Bruce nor Lois have a financial interest in or signature authority over a foreign account. They did not receive a distribution from, nor were they the grantors of or transferor to, a foreign trust. The IRS has not issued any Identity Protection ID Numbers for their return.

They did not receive a notice from the IRS or any state or local taxing authority within the last year. Neither Bruce nor Lois provide a driver's license or state identification.

Household Information

Bruce and Lois own their home. They have two children.

Dependent name:

Lyla B. Harrison

Dependent SSN:

201-00-2451

Dependent DOB:

July 12, 2014

Dependent relationship:

Daughter

Time in household:

12 months

Gross income:

$0

Support:

Does not provide over half of her own support

Dependent name:

Kevin E. Harrison

Dependent SSN:

201-00-2452

Dependent DOB:

October 15, 2016

Dependent relationship:

Son

Time in household:

12 months

Gross income:

$0

Support:

Does not provide over half of his own support

Lyla and Kevin lived with Bruce and Lois all year, and they did not have any income. Neither is married or disabled. They are both U.S. citizens. Lyla and Kevin have SSNs that are valid for work in the United States and were received before the due date for the return (including extensions). Bruce and Lois brought in copies of medical records for both children.

Adjustments

Lois contributed $2,500 to a traditional IRA during the year. She only has one IRA account, and the value of this account on December 31, 2019, was $13,097.85. All of her previous contributions were deductible. Lois has never taken a distribution from this or any other retirement account. Bruce is covered by an employer-sponsored retirement plan, but Lois is not.

Credits

Bruce and Lois paid Little Ones Learning Center $7,200 ($3,600 for each child) to care for Kevin and Lyla while they worked. The center's EIN is 09-2014501. It is located at 1521 West Plain Road, Your City, YS XXXXX. The phone number for the Center is (XXX) 555-0034. Bruce and Lois have documentation substantiating this expense.

Self-Employment Income

Lois has always been an avid reader, and during the year, she had an opportunity to lead a book club at a nearby community center. The community center paid Lois for this work. At the end of the year, they sent Lois a Form 1099-MISC reporting an amount for nonemployee compensation in box 7 of the form. This form is shown in the Information Documents section. The community center is within walking distance of the couple's home, so Lois did not have any vehicle or travel expenses. Her only business-related expense was for $225 in supplies.

For purposes of the qualified business income deduction (QBID), this isnota specified service trade or business (SSTB). Lois did not pay any qualified wages, nor does she have any qualified business property, or any losses or short-term gains from asset disposition.

Capital Assets

Bruce was unhappy with the performance of an investment he had made in 2017. He sold the shares of stock on November 7, 2019, for fear the stock would continue its downward trend. Information relating to this sale was reported on a Form 1099-B. This form is shown in the Information Documents section.

Itemized Deductions

Bruce and Lois want to itemize deductions if it will be more beneficial than taking the standard deduction. They bring a Form 1098 reporting mortgage interest and real estate taxes paid on their personal residence. This is shown in the Information Documents section. Bruce and Lois would prefer to take the state income tax deduction rather than the sales tax deduction. They also had the following potentially deductible items for 2019:

Item

Amount

Notes

2018 State balance due

$582

Made this payment on April 10, 2019

Cash donation to Cancer Research Foundation

$475

Paid March 4, 2019

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HARRISON information and is being furnished to Sweet address (induding apt. no) $ 1,550.00 the IRS. if you are P Payor made dread subs of 10 Crop near ince proceeds required to file a 1312 LOCUST STREET $5 010 or more of consumer return, a negligence prodcb baby penalty or other City of town, state or province, country, and ZIP or foreign postal code $ sanction may be imposed on you if 11 YOUR CITY, YS XXXXX this income is taxable and the IRS Account number fire mbuchioni FATCA fling 13 Excess golden parachute 14 Goons proceeds pad to an determines that it has not boon roported 15a Section 409A delamala 156 Section 409A income 10 State too withheld 17 Suite Payer's state na 18 State income Fom 1099-MISC (keep for your records) www.ins.gouForm109#MSC Department of the Treasury . 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HARRISON 201-00-2452 0 0 0 0 0 0a Employee's book fourty number XXX-XX-0045 OMD No. 1549-0001 FASTIU re file b Employer idenMation number (ON 09-2014502 39.950.00 2.671.05 ELM CONSTRUCTION AGENCY 42.950.00 2.662.90 6 GREENWOOD LANE 42.950.00 622.78 YOUR CITY, YS XXXXX Aoomed tips d Control number 10 Dependent care banita Employee's int name and into Sutt 11 Norqualfied plans DD 17,485.00 BRUCE H. HARRISON 1312 LOCUST STREET X D |3.000.00 YOUR CITY, YS XXXXX 14 Other I Employee's Mooreis and ZIP code 16 9mm Employer's shiite ID number " Lood mil Led da 19 Lool Mount fact YS 490020210A 39,950.00 2.197.25 W-2 Wage and Tax Department of the Treasury-Internal Revenue Service Form Statement 2019 Copy B-To Be Filed With Employee's FEDERAL Tax Return. This informy Internal Revenue Service