Question

Jane Smith, 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. Jane is a material participant in the business. She is a cash basis taxpayer. Jane lives at 2021 Oakcrest Road, Boca Raton, FL 33431. Jane's Social Security number is 123-45-6789. Jane indicates that she wants to designate $3 to the Presidential Election Campaign Fund. Jane had health insurance for all months of 2016. During 2016, Jane had the following income and expense items:

a.		$100,000 salary from Legal Services, Inc.
b.		$20,000 gross receipts from her typing services business.
c.		$700 interest income from Third National Bank.
d.		$1,000 Christmas bonus from Legal Services, Inc.
e.		$60,000 life insurance proceeds on the death of her sister.
f.		$5,000 check given to her by her wealthy aunt.
g.		$100 won in a bingo game.
h.		Expenses connected with the typing service:
		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
i.		$9,500 interest expense on a home mortgage (paid to San Jose Savings and Loan).
j.		$15,000 fair market value of silverware stolen from her home by a burglar on October 12, 2016. Jane had paid $14,000 for the silverware on July 1, 2007. She was reimbursed $1,500 by her insurance company.
k.		Jane had loaned $2,100 to a friend, Joan Jensen, on June 3, 2013. Joan declared bankruptcy on August 14, 2016, and was unable to repay the loan. Assume that the loan is a bona fide debt.
l.		Legal Services, Inc., withheld Federal income tax of $16,000 and the appropriate amount of FICA tax from her wages.
m.		Alimony of $10,000 received from her former husband, Ted Smith.
n.		Interest income of $800 on City of Boca Raton bonds.
o.		Jane made estimated Federal tax payments of $1,000.
p.		Sales taxes from the sales tax table of $946.
q.		Property taxes on her residence of $1,100.
r.		Charitable contribution of $2,500 to her alma mater, Citrus State College.
s.		on November 1, 2016, Jane was involved in an automobile accident. At the time of the accident, Jane's automobile had an FMV of $45,000. After the accident, the automobile's FMV was $38,000. Jane acquired the car at a cost of $52,000. Jane's car was covered by insurance, but because the policy had a $5,000 deduction clause, Jane decided not to file a claim for the damage.

Required:

Compute Jane Smith's 2016 Federal income tax payable (or refund due). Use Form 1040, Schedule A, Schedule C, Schedule D and Form 4684. (Note: There is a separate Form 4684 for each casualty or theft.)

Make realistic assumptions about any missing data.

If an amount box does not require an entry or the answer is zero, enter "0".

Enter all amounts as positive numbers. However, unless instructed otherwise, use the minus sign to indicate a loss.

It may be necessary to complete the tax schedules before completing Form 1040.

When computing the tax liability, do not round your immediate calculations. If required round your final answers to the nearest dollar.

Need Form

Form 1040

Schdule A

Schdule C

Schdule D

FOrm 8949

Form 4684 (1)

Form 4684 (2)

Answer 1

Fedreal Income Tax
Tax Computations .
Compute 2016 fedral income tax payeble for Jane
Description	Amt ($)	Amt ($)	Explation
Salary	100000
Bonus	1000	101000
Typing service biz net receipts		-4580	Refer working note no A
Interest Income		700	Refer working note no B
Life Insurance proceeds		0	Refer working note no C
Gift		0	Refer working note no D
Bingo Prize		100
Alimony		10000
Non biz Bad debts		-2100	Refer working note no E
Adjusted gross income (AGI)		105120
Less: Total Itemized Deductions		-20834	Refer working note no F
Less: Personal Exemption		-3900	Refer working note no G
Taxable income		80386
Tax on Taxable income		16025	Refer working note no H
Less : Federal Income tax with held and estimated taxable tax payment		-17000
Net Tax payeble		975

Working Notes: A
Determine the total typing service biz net receipts
Step 1
Determine with connected with typing services
Expencess	Amount
office rent	7000
Supllies	4400
utilities and telephone	4680
wages	5000
equ rental	3000
payroll taxes	500
Total	24580
Determine with connected with typing service biz net receipts = gross receipts -Total Exp
B
Determine the interest income : The interest received from the city of BR bonds is tax except .
C
Determine the Life insurance proceeds: It is excludible from the gross income
D
Determine the Amt of Gift : it is excludiable from the gross income
E
Determine the non biz bad debts : it is short term capital loss hence loss amt is $2100 is non biz bad debt SCHEDULE C (Form 1040) 2017 Profit or Loss From Business (Sole Proprietorship) Department of the Treasury Internal Revenue Service (99) ? Go to www.irs.gov/ScheduleC for instructions and the latest information. ? Attach to Form 1040, 1040NR, or 1041; partnerships generally must file Form 1065. OMB No. 1545-0074 Attachment Sequence No. 09 Name of proprietor Social security number (SSN) A Principal business or profession, including product or service (see instructions) B Enter code from instructions ? C Business name. If no separate business name, leave blank. D Employer ID number (EIN) (see instr.) E Business address (including suite or room no.) ? City, town or post office, state, and ZIP code F Accounting method: (1) Cash (2) Accrual (3) Other (specify) ? G Did you "materially participate" in the operation of this business during 2017? If "No," see instructions for limit on losses . Yes No H If you started or acquired this business during 2017, check here .................? I Did you make any payments in 2017 that would require you to file Form(s) 1099? (see instructions) ........ Yes No J If "Yes," did you or will you file required Forms 1099? ..................... Yes No Part I Income 1 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 ......... ? 1 2 Returns and allowances ......................... 2 3 Subtract line 2 from line 1........................ 3 4 Cost of goods sold (from line 42) ...................... 4 5 Gross profit. Subtract line 4 from line 3 .................... 5 6 Other income, including federal and state gasoline or fuel tax credit or refund (see instructions).... 6 7 Gross income. Add lines 5 and 6 .....................? 7 Part II Expenses. Enter expenses for business use of your home only on line 30. 8 Advertising..... 8 9 Car and truck expenses (see instructions)..... 9 10 Commissions and fees. 10 11 Contract labor (see instructions) 11 12 Depletion ..... 12 13 Depreciation and section 179 expense deduction (not included in Part III) (see instructions)..... 13 14 Employee benefit programs (other than on line 19).. 14 15 Insurance (other than health) 15 16 Interest: a Mortgage (paid to banks, etc.) 16a b Other...... 16b 17 Legal and professional services 17 18 Office expense (see instructions) 18 19 Pension and profit-sharing plans. 19 20 Rent or lease (see instructions): a Vehicles, machinery, and equipment 20a b Other business property... 20b 21 Repairs and maintenance... 21 22 Supplies (not included in Part III). 22 23 Taxes and licenses..... 23 24 Travel, meals, and entertainment: a Travel......... 24a b Deductible meals and entertainment (see instructions). 24b 25 Utilities........ 25 26 Wages (less employment credits). 26 27 a Other expenses (from line 48) .. 27a b Reserved for future use... 27b 28 Total expenses before expenses for business use of home. Add lines 8 through 27a......? 28 29 Tentative profit or (loss). Subtract line 28 from line 7................. 29 30 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: . Use the Simplified Method Worksheet in the instructions to figure the amount to enter on line 30 ......... 30 31 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. ? 31 } 32 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. ? } 32a All investment is at risk. 32b Some investment is not at risk. For Paperwork Reduction Act Notice, see the separate instructions. Cat. No. 11334P Schedule C (Form 1040) 2017 Schedule C (Form 1040) 2017 Page 2 Part III Cost of Goods Sold (see instructions) 33 Method(s) used to value closing inventory: a Cost b Lower of cost or market c Other (attach explanation) 34 Was there any change in determining quantities, costs, or valuations between opening and closing inventory? If "Yes," attach explanation . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No 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 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 2017, enter the number of miles you used your vehicle for: a Business b Commuting (see instructions) c Other 45 Was your vehicle available for personal use during off-duty hours? . . . . . . . . . . . . . . . Yes No 46 Do you (or your spouse) have another vehicle available for personal use?. . . . . . . . . . . . . . Yes No 47 a Do you have evidence to support your deduction? . . . . . . . . . . . . . . . . . . . . Yes No b If "Yes," is the evidence written? . . . . . . . . . . . . . . . . . . . . . . . . . Yes No Part V Other Expenses. List below business expenses not included on lines 8–26 or line 30. 48 Total other expenses. Enter here and on line 27a . . . . . . . . . . . . . . . . 48 SCHEDULE C (Form 1040) 2017 Profit or Loss From Business (Sole Proprietorship) Department of the Treasury Internal Revenue Service (99) ? Go to www.irs.gov/ScheduleC for instructions and the latest information. ? Attach to Form 1040, 1040NR, or 1041; partnerships generally must file Form 1065. OMB No. 1545-0074 Attachment Sequence No. 09 Name of proprietor Social security number (SSN) A Principal business or profession, including product or service (see instructions) B Enter code from instructions ? C Business name. If no separate business name, leave blank. D Employer ID number (EIN) (see instr.) E Business address (including suite or room no.) ? City, town or post office, state, and ZIP code F Accounting method: (1) Cash (2) Accrual (3) Other (specify) ? G Did you "materially participate" in the operation of this business during 2017? If "No," see instructions for limit on losses . Yes No H If you started or acquired this business during 2017, check here .................? I Did you make any payments in 2017 that would require you to file Form(s) 1099? (see instructions) ........ Yes No J If "Yes," did you or will you file required Forms 1099? ..................... Yes No Part I Income 1 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 ......... ? 1 2 Returns and allowances ......................... 2 3 Subtract line 2 from line 1........................ 3 4 Cost of goods sold (from line 42) ...................... 4 5 Gross profit. Subtract line 4 from line 3 .................... 5 6 Other income, including federal and state gasoline or fuel tax credit or refund (see instructions).... 6 7 Gross income. Add lines 5 and 6 .....................? 7 Part II Expenses. Enter expenses for business use of your home only on line 30. 8 Advertising..... 8 9 Car and truck expenses (see instructions)..... 9 10 Commissions and fees. 10 11 Contract labor (see instructions) 11 12 Depletion ..... 12 13 Depreciation and section 179 expense deduction (not included in Part III) (see instructions)..... 13 14 Employee benefit programs (other than on line 19).. 14 15 Insurance (other than health) 15 16 Interest: a Mortgage (paid to banks, etc.) 16a b Other...... 16b 17 Legal and professional services 17 18 Office expense (see instructions) 18 19 Pension and profit-sharing plans. 19 20 Rent or lease (see instructions): a Vehicles, machinery, and equipment 20a b Other business property... 20b 21 Repairs and maintenance... 21 22 Supplies (not included in Part III). 22 23 Taxes and licenses..... 23 24 Travel, meals, and entertainment: a Travel......... 24a b Deductible meals and entertainment (see instructions). 24b 25 Utilities........ 25 26 Wages (less employment credits). 26 27 a Other expenses (from line 48) .. 27a b Reserved for future use... 27b 28 Total expenses before expenses for business use of home. Add lines 8 through 27a......? 28 29 Tentative profit or (loss). Subtract line 28 from line 7................. 29 30 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: . Use the Simplified Method Worksheet in the instructions to figure the amount to enter on line 30 ......... 30 31 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. ? 31 } 32 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. ? } 32a All investment is at risk. 32b Some investment is not at risk. For Paperwork Reduction Act Notice, see the separate instructions. Cat. No. 11334P Schedule C (Form 1040) 2017 Schedule C (Form 1040) 2017 Page 2 Part III Cost of Goods Sold (see instructions) 33 Method(s) used to value closing inventory: a Cost b Lower of cost or market c Other (attach explanation) 34 Was there any change in determining quantities, costs, or valuations between opening and closing inventory? If "Yes," attach explanation . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No 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 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 2017, enter the number of miles you used your vehicle for: a Business b Commuting (see instructions) c Other 45 Was your vehicle available for personal use during off-duty hours? . . . . . . . . . . . . . . . Yes No 46 Do you (or your spouse) have another vehicle available for personal use?. . . . . . . . . . . . . . Yes No 47 a Do you have evidence to support your deduction? . . . . . . . . . . . . . . . . . . . . Yes No b If "Yes," is the evidence written? . . . . . . . . . . . . . . . . . . . . . . . . . Yes No Part V Other Expenses. List below business expenses not included on lines 8–26 or line 30. 48 Total other expenses. Enter here and on line 27a . . . . . . . . . . . . . . . . 48 Schedule C (Form 1040) 2017 Schedule C (Form 1040) 2017 SCHEDULE D (Form 1040) 2017 Capital Gains and Losses Department of the Treasury Internal Revenue Service (99) ? Attach to Form 1040 or Form 1040NR. ? 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. OMB No. 1545-0074 Attachment Sequence No. 12 Name(s) shown on return Your social security number Part I Short-Term Capital Gains and Losses—Assets Held One Year or Less See instructions for how to figure the amounts to enter on the lines below. This form may be easier to complete if you round off cents to whole dollars.(d) Proceeds (sales price) (e) Cost (or other basis) (g) Adjustments to gain or loss from Form(s) 8949, Part I, line 2, column (g) (h) Gain or (loss) Subtract column (e) from column (d) and combine the result 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 .............

SCHEDULE A (Form 1040)

2017

Itemized Deductions

Department of the Treasury Internal Revenue Service (99)

? Go to www.irs.gov/ScheduleA for instructions and the latest information. ? Attach to Form 1040.

Caution: If you are claiming a net qualified disaster loss on Form 4684, see the instructions for line 28.

OMB No. 1545-0074

Attachment Sequence No. 07

Name(s) shown on Form 1040

Your social security number

Medical and Dental Expenses

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 7.5% (0.075)............

3

4

Subtract line 3 from line 1. If line 3 is more than line 1, enter -0-........

4

Taxes You Paid

5

State and local (check only one box):

a

Income taxes, or

}

b

General sales taxes

.

..........

5

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......................

9

Interest You Paid

Note: Your mortgage interest deduction may be limited (see instructions).

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 ?

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.....................

15

Gifts to Charity

16

Gifts by cash or check. If you made any gift of $250 or more, see instructions................

16

17

Other than by cash or check. If any gift of $250 or more, see instructions. You must attach Form 8283 if over $500...

If you made a gift and got a benefit for it, see instructions.

17

18

Carryover from prior year............

18

19

Add lines 16 through 18.....................

19

Casualty and Theft Losses

20

Casualty or theft loss(es) other than net qualified disaster losses. Attach Form 4684 and enter the amount from line 18 of that form. See instructions.........

20

Job Expenses and Certain Miscellaneous Deductions

21

Unreimbursed employee expenses—job travel, union dues, job education, etc. Attach Form 2106 or 2106-EZ if required. See instructions. ?

21

22

Tax preparation fees.............

22

23

Other expenses—investment, safe deposit box, etc. List type and amount ?

23

24

Add lines 21 through 23............

24

25

Enter amount from Form 1040, line 38

25

26

Multiply line 25 by 2% (0.02)..........

26

27

Subtract line 26 from line 24. If line 26 is more than line 24, enter -0-......

27

Other Miscellaneous Deductions

28

Other—from list in instructions. List type and amount ?

28

Total Itemized Deductions

29

Is Form 1040, line 38, over $156,900?

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.

Yes. Your deduction may be limited. See the Itemized Deductions Worksheet in the instructions to figure the amount to enter.

}

.

.

29

30

If you elect to itemize deductions even though they are less than your standard deduction, check here...................?

For Paperwork Reduction Act Notice, see the Instructions for Form 1040.

Cat. No. 17145C

Schedule A (Form 1040) 2017

SCHEDULE A (Form 1040)

2017

Itemized Deductions

Department of the Treasury Internal Revenue Service (99)

? Go to www.irs.gov/ScheduleA for instructions and the latest information. ? Attach to Form 1040.

Caution: If you are claiming a net qualified disaster loss on Form 4684, see the instructions for line 28.

OMB No. 1545-0074

Attachment Sequence No. 07

Name(s) shown on Form 1040

Your social security number

Medical and Dental Expenses

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 7.5% (0.075)............

3

4

Subtract line 3 from line 1. If line 3 is more than line 1, enter -0-........

4

Taxes You Paid

5

State and local (check only one box):

a

Income taxes, or

}

b

General sales taxes

.

..........

5

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......................

9

Interest You Paid

Note: Your mortgage interest deduction may be limited (see instructions).

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 ?

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.....................

15

Gifts to Charity

16

Gifts by cash or check. If you made any gift of $250 or more, see instructions................

16

17

Other than by cash or check. If any gift of $250 or more, see instructions. You must attach Form 8283 if over $500...

If you made a gift and got a benefit for it, see instructions.

17

18

Carryover from prior year............

18

19

Add lines 16 through 18.....................

19

Casualty and Theft Losses

20

Casualty or theft loss(es) other than net qualified disaster losses. Attach Form 4684 and enter the amount from line 18 of that form. See instructions.........

20

Job Expenses and Certain Miscellaneous Deductions

21

Unreimbursed employee expenses—job travel, union dues, job education, etc. Attach Form 2106 or 2106-EZ if required. See instructions. ?

21

22

Tax preparation fees.............

22

23

Other expenses—investment, safe deposit box, etc. List type and amount ?

23

24

Add lines 21 through 23............

24

25

Enter amount from Form 1040, line 38

25

26

Multiply line 25 by 2% (0.02)..........

26

27

Subtract line 26 from line 24. If line 26 is more than line 24, enter -0-......

27

Other Miscellaneous Deductions

28

Other—from list in instructions. List type and amount ?

28

Total Itemized Deductions

29

Is Form 1040, line 38, over $156,900?

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.

Yes. Your deduction may be limited. See the Itemized Deductions Worksheet in the instructions to figure the amount to enter.

}

.

.

29

30

If you elect to itemize deductions even though they are less than your standard deduction, check here...................?

For Paperwork Reduction Act Notice, see the Instructions for Form 1040.

Cat. No. 17145C

Schedule A (Form 1040) 2017

Form 4684

2017

Casualties and Thefts

Department of the Treasury Internal Revenue Service

? Go to www.irs.gov/Form4684 for instructions and the latest information. ? Attach to your tax return. ? Use a separate Form 4684 for each casualty or theft.

OMB No. 1545-0177

Attachment Sequence No. 26

Name(s) shown on tax return

Identifying number

SECTION A—Personal Use Property (Use this section to report casualties and thefts of property not used in a trade or business or for income-producing purposes. If reporting a casualty loss from a disaster, see the instructions before completing this section.)

1

Description of properties (show type, location, and date acquired for each property). Use a separate line for each property lost or damaged from the same casualty or theft. You must use a separate Form 4684 (through line 12) for each casualty or theft event involving personal use property.

Property A

Property B

Property C

Property D

PropertiesA	B		C		D
2		Cost or other basis of each property ......		2
3		Insurance or other reimbursement (whether or not you filed a claim) (see instructions) ........		3
Note: If line 2 is more than line 3, skip line 4.
4 Gain from casualty or theft. If line 3 is more than line 2, enter the difference here and skip lines 5 through 9 for that column. See instructions if line 3 includes insurance or other reimbursement you did not claim, or you received payment for your loss in a later tax year ..45		Fair market value before casualty or theft ....		5
6		Fair market value after casualty or theft .....		6
7		Subtract line 6 from line 5 .........		7
8		Enter the smaller of line 2 or line 7 ......		8
9		Subtract line 3 from line 8. If zero or less, enter -0- ..		9

Form 8949

2017

Sales and Other Dispositions of Capital Assets

Department of the Treasury Internal Revenue Service

? Go to www.irs.gov/Form8949 for instructions and the latest information. ? File with your Schedule D to list your transactions for lines 1b, 2, 3, 8b, 9, and 10 of Schedule D.

OMB No. 1545-0074

Attachment Sequence No. 12A

Name(s) shown on return

Social security number or taxpayer identification number

Before you check Box A, B, or C below, see whether you received any Form(s) 1099-B or substitute statement(s) from your broker. A substitute statement will have the same information as Form 1099-B. Either will show whether your basis (usually your cost) was reported to the IRS by your broker and may even tell you which box to check.

Part I

Short-Term. Transactions involving capital assets you held 1 year or less are short term. For long-term transactions, see page 2.

Note: You may aggregate all short-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS and for which no adjustments or codes are required. Enter the totals directly on Schedule D, line 1a; you aren't required to report these transactions on Form 8949 (see instructions).

You must check Box A, B, or C below. Check only one box. If more than one box applies for your short-term transactions, complete a separate Form 8949, page 1, for each applicable box. If you have more short-term transactions than will fit on this page for one or more of the boxes, complete as many forms with the same box checked as you need.

(A) Short-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS (see Note above)

(B) Short-term transactions reported on Form(s) 1099-B showing basis wasn't reported to the IRS

(C) Short-term transactions not reported to you on Form 1099-B

1

(a) Description of property (Example: 100 sh. XYZ Co.)

(b) Date acquired (Mo., day, yr.)

(c) Date sold or disposed of (Mo., day, yr.)

(d) Proceeds (sales price) (see instructions)

(e) Cost or other basis. See the Note below and see Column (e) in the separate instructions

Adjustment, if any, to gain or loss. If you enter an amount in column (g), enter a code in column (f). See the separate instructions.

(f) Code(s) from instructions

(g) Amount of adjustment

(h) Gain or (loss). Subtract column (e) from column (d) and combine the result with column (g)

2

Totals. Add the amounts in columns (d), (e), (g), and (h) (subtract negative amounts). Enter each total here and include on your Schedule D, line 1b (if Box A above is checked), line 2 (if Box B above is checked), or line 3 (if Box C above is checked) ?

Note: If you checked Box A above but the basis reported to the IRS was incorrect, enter in column (e) the basis as reported to the IRS, and enter an adjustment in column (g) to correct the basis. See Column (g) in the separate instructions for how to figure the amount of the adjustment.

For Paperwork Reduction Act Notice, see your tax return instructions.

Cat. No. 37768Z

Form 8949 (2017)

Form 8949 (2017)

Page 2

Attachment Sequence No. 12A

Name(s) shown on return. Name and SSN or taxpayer identification no. not required if shown on other side

Social security number or taxpayer identification number

Before you check Box D, E, or F below, see whether you received any Form(s) 1099-B or substitute statement(s) from your broker. A substitute statement will have the same information as Form 1099-B. Either will show whether your basis (usually your cost) was reported to the IRS by your broker and may even tell you which box to check.

Part II

Long-Term. Transactions involving capital assets you held more than 1 year are long term. For short-term transactions, see page 1.

Note: You may aggregate all long-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS and for which no adjustments or codes are required. Enter the totals directly on Schedule D, line 8a; you aren't required to report these transactions on Form 8949 (see instructions).

You must check Box D, E, or F below. Check only one box. If more than one box applies for your long-term transactions, complete a separate Form 8949, page 2, for each applicable box. If you have more long-term transactions than will fit on this page for one or more of the boxes, complete as many forms with the same box checked as you need.

(D) Long-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS (see Note above)

(E) Long-term transactions reported on Form(s) 1099-B showing basis wasn't reported to the IRS

(F) Long-term transactions not reported to you on Form 1099-B

1

(a) Description of property (Example: 100 sh. XYZ Co.)

(b) Date acquired (Mo., day, yr.)

(c) Date sold or disposed of (Mo., day, yr.)

(d) Proceeds (sales price) (see instructions)

(e) Cost or other basis. See the Note below and see Column (e) in the separate instructions

Adjustment, if any, to gain or loss. If you enter an amount in column (g), enter a code in column (f). See the separate instructions.

(f) Code(s) from instructions

(g) Amount of adjustment

(h) Gain or (loss). Subtract column (e) from column (d) and combine the result with column (g)

2

Totals. Add the amounts in columns (d), (e), (g), and (h) (subtract negative amounts). Enter each total here and include on your Schedule D, line 8b (if Box D above is checked), line 9 (if Box E above is checked), or line 10 (if Box F above is checked) ?

Note: If you checked Box D above but the basis reported to the IRS was incorrect, enter in column (e) the basis as reported to the IRS, and enter an adjustment in column (g) to correct the basis. See Column (g) in the separate instructions for how to figure the amount of the adjustment.

Form 8949 (2017)