Tax Returns

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Instructions on ACCT4331 Tax return project Please complete the 2018 federal income tax return for Magdalena Schmitz with dependents with all necessary forms and schedules attached. As a hint, you can refer to the grading algorism to identify the necessary forms and schedules attached to Form 1040 for her tax return. The tax return project is based on your knowledge obtained from chapter 1-9. You need to submit your return with all form and schedules in handwriting. Printed return from computer is NOT accepted and will get no credit. The forms can be downloaded from IRS website for free. Tax return Project Grading Algorism (100 pts) 1. Filing status and exemptions on – Form 1040 page 1 (18 pts) a. Proper filing status for Maria with correct number of dependents – (6 pts) b. Dependents information – (6 pts) c. Select Child tax credits and credit for other dependent – (6 pts) 2. Gross income – Form 1040 Line #1 to #6 (26 pts) a. Salary (2 pts) b. Other sources of gross income – Schedule 1 (4 pts) a. Interest and dividends – Schedule B (6 pts) b. Business income – Schedule C-EZ (4 pts) c. Alimony (2 pts) d. Capital gains on sale of stock and collectibles-Schedule D and Form 8949 (6 pts) e. Tax-exempt interest (2 pts) 3. Deduction for AGI (8 pts) – Form 1040 Line #7 a. For AGI deductions – Schedule 1 (2 pts) b. SE tax computation and Deductible SE tax– Schedule SE and Schedule 4 (6 pts) 4. Deduction from AGI (12 pts) – Form 1040 Line #8 to #10 a. Itemized Deduction – Schedule A (8 pts) b. Choosing between Itemized deductions vs. Standard deduction (2 pts) c. Qualified business income deduction (2 pts) 5. Taxes and credits (22 pts) – Form 1040 Line #11 to #15 a. Credit for child and dependent care expense – Schedule 3 and Form 2441 (6 pts) b. Child Tax Credit and Credit for Other Dependents Worksheet (6 pts) c. Estimated tax payments – Schedule 5 (4 pts) d. Calculating tax liability amount on taxable income consisting of ordinary income, capital gain and qualified dividends – attach Schedule D Tax Worksheet (6 pt) 6. Tax payment and refund (4 pts) – Form 1040 Line #16 to #20 a. Federal income tax withheld (2 pt) b. Refund amount (2 pt) 7. Completion of Form 1040 (10 pts) a. Filling in Form 1040 with numbers from schedules and forms transported to properly lines. b. As a hint, your tax return should include the following forms and schedules: i. Form 1040 ii. Schedule 1, 3, 4,5 iii. Schedule A, B, C or C-EZ, D, SE iv. Form 8949, 2441 c. You also need to submit a copy of your calculation worksheet of the total income taxes. d. As a hint for the tax return project, the AGI is $93,046, income tax is $9,694, the final refund is $2,699. Tax Return for Individual Instructions: Please complete the 2018 federal income tax return for Maria Gonzalez. Ignore the requirement to attach the form(s) W-2 to the front page of the Form 1040. If any required information is missing, use reasonable assumptions to fill in the gaps. You are in charge to complete the 2018 federal income tax return for Maria Gonzalez. She has adequate written documentation to substantiate all transactions. Maria Gonzalez is divorced. She was born on May 22, 1970, and lives at 1502 Elm Terrace, Baton Rouge, LA 70465. Her Social Security Number is 385-22-7844. Maria has a child, Juan Gomez, who resides with Maria. Juan’s social security number is 285-33-8999. Juan was born on June 3, 2010. Maria receives alimony of $3,000 per year and child support of $4,000 per year from her ex-husband, Rigoberto Gomez. Maria’s home phone number is 605-833-2222. She does not want to contribute $3 to the Presidential Election Campaign Fund. Maria’s mother, Juanita Hernandez, lived with Maria until her death on January 2, 2018. Juanita’s only income was $4,000 from Social Security. Maria paid more than 50% of Juanita’s support. Juantia’s Social Security number was 123-55-5555. Juanita’s birthday is May 15, 1945. Juanita had minimum essential health insurance coverage because she had Medicare coverage. Maria received Form 1095-B for her mother which indicated that her mother had coverage for 12 months. Maria is employed by the Highway Department of the State of Louisiana in an executive position. The employer’s federal identification number is 33-6666666. The employer’s address is 800 First Street, Baton Rouge, LA 70464. The following information is shown on her Wage and Tax Statement (Form W-2) for 2018, Line 1 2 3 4 5 6 12a 16 17 Description Wages, tips, other compensation Federal income tax withheld Social Security wages Social Security tax withheld Medicare wages and tips Medicare tax withheld DD State wages, tips, etc. State income tax withheld Maria $70,000 8,000 70,000 4,340 70,000 1,015 8,500 70,000 3,000 In addition to her salary, Maria’s employer provides her with the following fringe benefits: a. Group term life insurance with a face value of $30,000. The cost of the premiums for the employer was $600. The Highway Department provides term life insurance policies for all full-time employees. b. Group health insurance plan. Maria’s employer paid premiums of $8,500 for her and her son’s medical insurance coverage. The plan paid $7,000 in medical expenses for her and her son during the year. The coverage on her employer’s medical insurance plan meets the minimum essential coverage requirement under the Affordable Care Act for her and her son. She received Form 1095-B from her employer that shows that she and her son had coverage for 12 months. Besides her normal job, Maria runs a sole proprietor business in computer systems design service. Maria earned $5,000 from a consulting assignment in this year. The amount was reported to her on a 1099-MISC form in Box 7. The principal business code is 541510. Her basis for accounting is cash. The payer was ABC Corporation whose payor’s federal identification number is 22-8888888. It is located at 333 Main Street, Baton Rouge, LA 70465. When required to file form(s) 1099, you will. In order to for Maria to maintain her full-time job, she sends her son Juan to a day care program after school five days a week. During the year, Magdalena paid the day care operator $4,250 for child care. The day care details are as follows: Horizon Day Care 452 Patriot Road Baton Rouge, LA 70465 EIN: 43-6598324 On June 15, 2018, Maria sold 200 shares of XYZ common stock for its market value of $56,000. Maria had purchased the shares for $50,000 on December 2, 2016. Her brokerage firm provided her with IRS Form 1099-B that properly reported the nature of her gain and its correct basis. On July 20, 2014, Maria purchased a stamp collection for $2,400 as an investment. On December 8, 2018, Maria sold the stamp collection for $4,800. She did not receive a Form 1099B for this transaction. Maria has a long-term carryforward capital loss of $2,000 from the sale of common stock in 2016. Other sources of income for Maria were as follows: Ordinary Dividend income – XYZ Corporation (only $8,000 qualified dividends) Interest income Forest Bank City of Lafayette, LA water bonds $9,000 4,000 1,000 Forest Bank reported the interest income on a Form 1099-INT in Box 1. The interest from the City of Lafayette water bonds is only reported in Box 8 on Form 1099-INT since it is from municipal bond interest. This interest is also exempt from State of Louisiana income taxes, so Maria reports it as in-state municipal bond interest. Maria also received a Form 1099-DIV from XYZ Corporation. The ordinary dividends of $9,000 are reported in Box 1a, and the qualified dividends of $8,000 are reported in Box 1b. Maria has no foreign bank accounts or trusts. Potential itemized deductions for Maria, in addition to items already mentioned, were as follows: Property taxes paid on her residence - Short Mortgage Co. - Form 1098 Charitable contributions - cash to United Church Mortgage interest on her residence - Short Mortgage Co. - Form 1098 State income tax payment sent with 2017 state return in April 2018 Doctor expenses for Maria and her son (not covered by insurance) Doctor expenses for Juanita Interest paid on personal use automobile loan $4,000 2,000 3,500 800 4,500 8,000 1,000 Maria put $4,000 in a traditional IRA in 2018. Her employer does not provide a pension to its employees. (Chapter 19) Maria made four estimated federal income tax payments of $500 each on April 15, 2018; June 15, 2018; September 15, 2018; and January 15, 2019. Compute Maria’s net federal tax payable or refund due for 2018. If she incurs a penalty, she wants to pay it with her tax return. If she is to receive a tax refund, she wants to receive a check. Turn in Form 1040, Form 6251, Form 8949, Schedule 1, Schedule 4, Schedule 5, Schedule A, Schedule B, Schedule C, Schedule D, and Schedule SE.
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Explanation & Answer

Attached.

Form

1040 U.S. Individual Income Tax Return 2018
(99)

Department of the Treasury—Internal Revenue Service

Filing status:



Single

Married filing jointly

Married filing separately

Your first name and initial

OMB No. 1545-0074

Head of household

IRS Use Only—Do not write or staple in this space.

Qualifying widow(er)
Your social security number

Last name

MARIA

GONZALEZ

Your standard deduction:

Someone can claim you as a dependent

If joint return, spouse's first name and initial
Spouse standard deduction:
Spouse is blind

3 8 5 2 2 7 8 4 4
You were born before January 2, 1954

You are blind
Spouse’s social security number

Last name

Someone can claim your spouse as a dependent

Spouse was born before January 2, 1954

Full-year health care coverage
or exempt (see inst.)

Spouse itemizes on a separate return or you were dual-status alien

Home address (number and street). If you have a P.O. box, see instructions.

Apt. no.

Presidential Election Campaign
(see inst.)
✔ You
Spouse

1502 ELM TERRACE, BATON ROUGE
City, town or post office, state, and ZIP code. If you have a foreign address, attach Schedule 6.

LA, 70465
Dependents (see instructions):
(1) First name

(2) Social security number

If more than four dependents,
see inst. and ✓ here ▶
(3) Relationship to you

Last name

JOAN
JUANITA

GOMEZ
HERNANDEZ

2 8 5 3 3 8 9 9 9
1 2 3 5 5 5 5 5 5

(4) ✓ if qualifies for (see inst.):
Child tax credit
Credit for other dependents

CHILDREN
MOTHER




Sign
Here

Under penalties of perjury, I declare that I have examined this return 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.

Joint return?
See instructions.
Keep a copy for
your records.



Paid
Preparer
Use Only

Your signature

Date

Your occupation

Spouse’s signature. If a joint return, both must sign.

Date

Spouse’s occupation

Preparer’s name

Preparer’s signature

PTIN

If the IRS sent you an Identity Protection
PIN, enter it
here (see inst.)
If the IRS sent you an Identity Protection
PIN, enter it
here (see inst.)
Firm’s EIN
Check if:
3rd Party Designee

Firm’s name



Phone no.

Self-employed

Firm’s address ▶

For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions.

Cat. No. 11320B

Form

1040 (2018)

Page 2

Form 1040 (2018)

Attach Form(s)
W-2. Also attach
Form(s) W-2G and
1099-R if tax was
withheld.

Standard
Deduction for—
• Single or married
filing separately,
$12,000
• Married filing
jointly or Qualifying
widow(er),
$24,000
• Head of
household,
$18,000
• If you checked
any box under
Standard
deduction,
see instructions.

Refund
Direct deposit?
See instructions.

.

.

.

.

1

1,000

b Taxable interest

.

.

.

2b

70,000
1,000

8,000

b Ordinary dividends

.

.

3b

9,000

.

.

.

4b

.

.

.

5b

1

Wages, salaries, tips, etc. Attach Form(s) W-2 .

2a

Tax-exempt interest .

.

.

2a

3a

Qualified dividends .

.

.

3a

4a

IRAs, pensions, and annuities .

4a

b Taxable amount

5a

Social security benefits

5a

b Taxable amount

6
7

14,000 . . . . .
Total income. Add lines 1 through 5. Add any amount from Schedule 1, line 22
Adjusted gross income. If you have no adjustments to income, enter the amount from line 6; otherwise,
subtract Schedule 1, line 36, from line 6
. . . . . . . . . . . . . . . . .

6

94,000

7

8

Standard deduction or itemized deductions (from Schedule A) .

.

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8

9

Qualified business income deduction (see instructions) .

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9

93,046
14,825
5,000

10

Taxable income. Subtract lines 8 and 9 from line 7. If zero or less, enter -0-

.

.

.

.

.

.

.

.

10

73,221

11

a Tax (see inst.)

Form 4972

3


11

a Child tax credit/credit for other dependents

4,250 b Add any amount from Schedule 3 and check here ▶

12

12,018
4,250

62

12
13

Subtract line 12 from line 11. If zero or less, enter -0-

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13

Other taxes. Attach Schedule 4 .

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14

7,768
1,908

62

14
15

Total tax. Add lines 13 and 14

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15

16

Federal income tax withheld from Forms W-2 and 1099

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16

17

Refundable credits: a EIC (see inst.)

(check if any from: 1

.

2

Form(s) 8814

b Add any amount from Schedule 2 and check here

.

.

.

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.

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.

b Sch. 8812

.

.

)
.

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.

c Form 8863

Add any amount from Schedule 5

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17

18

Add lines 16 and 17. These are your total payments

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18

19

If line 18 is more than line 15, subtract line 15 from line 18. This is the amount you overpaid .

.

.

.

20a

Amount of line 19 you want refunded to you. If Form 8888 is attached, check here

.





b

Routing number



d

Account number

21
Amount You Owe 22
23



Amount of line 19 you want applied to your 2019 estimated tax .

c Type:
.



.

.

.

Go to www.irs.gov/Form1040 for instructions and the latest information.

.

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.



.

Checking

19

4,340
12,340
2,663

20a

Savings

21

Amount you owe. Subtract line 18 from line 15. For details on how to pay, see instructions
Estimated tax penalty (see instructions) .

9,676
8,000

.

.

.



22

23
Form

1040 (2018)


Form

2441

Child and Dependent Care Expenses


Department of the Treasury
Internal Revenue Service (99)



OMB No. 1545-0074

1040

..........



2018

1040NR

Attach to Form 1040 or Form 1040NR.

2441

Go to www.irs.gov/Form2441 for instructions and the
latest information.

Attachment
Sequence No. 21
Your social security number

Name(s) shown on return

MARIA GONZALEZ

385-22-7844

You cannot claim a credit for child and dependent care expenses if your filing status is married filing separately unless you meet the
requirements listed in the instructions under “Married Persons Filing Separately.” If you meet these requirements, check this box. ✔

Part I
1

Persons or Organizations Who Provided the Care—You must complete this part.
(If you have more than two care providers, see the instructions.)

(a) Care provider’s
name

(b) Address
(number, street, apt. no., city, state, and ZIP code)

(c) Identifying number
(SSN or EIN)

452 Patriot Road, Baton Rouge, LA 70465

Horizon Day Care

(d) Amount paid
(see instructions)

43-6598324

4,250

▶ Complete only Part II below.
No
Did you receive
dependent care benefits?
▶ Complete Part III on the back next.
Yes
Caution: If the care was provided in your home, you may owe employment taxes. For details, see the instructions for Schedule 4
(Form 1040), line 60a; or Form 1040NR, line 59a.

Part II
2

Credit for Child and Dependent Care Expenses

Information about your qualifying person(s). If you have more than two qualifying persons, see the instructions.
(b) Qualifying person’s social
security number

(a) Qualifying person’s name
Last

First

JUAN

GOMEZ

285-33-8999

4,250

3

Add the amounts in column (c) of line 2. Don’t enter more than $3,000 for one qualifying
person or $6,000 for two or more persons. If you completed Part III, enter the amount
from line 31 . . . . . . . . . . . . . . . . . . . . . . . . . .

4
5

Enter your earned income. See instructions . . . . . . . . . . . . . . .
If married filing jointly, enter your spouse’s earned income (if you or your spouse was a
student or was disabled, see the instructions); all others, enter the amount from line 4 .

6
7

Enter the smallest of line 3, 4, or 5 . . . . . . .
Enter the amount from Form 1040, line 7; or Form
1040NR, line 36 . . . . . . . . . . . . .

8

9
10
11

.

.

.

.

.

.

.

.

.

.

(c) Qualified expenses you
incurred and paid in 2018 for the
person listed in column (a)

.

3
4

4,250
93,000

5
6

0
4,250

8

X.

9

850

7
93,000
Enter on line 8 the decimal amount shown below that applies to the amount on line 7
If line 7 is:
But not
over
Over

Decimal
amount is

If line 7 is:

$0—15,000
15,000—17,000
17,000—19,000
19,000—21,000
21,000—23,000
23,000—25,000
25,000—27,000
27,000—29,000

.35
.34
.33
.32
.31
.30
.29
.28

Over

But not
over

$29,000—31,000
31,000—33,000
33,000—35,000
35,000—37,000
37,000—39,000
39,000—41,000
41,000—43,000
43,000—No limit

Decimal
amount is
.27
.26
.25
.24
.23
.22
.21
.20

Multiply line 6 by the decimal amount on line 8. If you paid 2017 expenses in 2018, see
the instructions . . . . . . . . . . . . . . . . . . . . . . . . .
Tax liability limit. Enter the amount from the Credit
Limit Worksheet in the instructions. . . . . . .
10
Credit for child and dependent care expenses. Enter the smaller of line 9 or line 10
here and on Schedule 3 (Form 1040), line 49; or Form 1040NR, line 47 . . . . . . .

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

11

Cat. No. 11862M

850

.2

Form 2441 (2018)

Page 2

Form 2441 (2018)

Part III

Dependent Care Benefits

12 Enter the total amount of dependent care benefits you received in 2018. Amounts you
received as an employee should be shown in box 10 of your Form(s) W-2. Don’t include
amounts reported as wages in box 1 of Form(s) W-2. If you were self-employed or a
partner, include amounts you received under a dependent care assistance program from
your sole proprietorship or partnership . . . . . . . . . . . . . . . . . .
13 Enter the amount, if any, you carried over from 2017 and used in 2018 during the grace
period. See instructions . . . . . . . . . . . . . . . . . . . . . . .
14 Enter the amount, if any, you forfeited or carried forward to 2019. See instructions
15 Combine lines 12 through 14. See instructions . . . . . . . . . . . .
16 Enter the total amount of qualified expenses incurred
in 2018 for the care of the qualifying person(s) . . .
16
17 Enter the smaller of line 15 or 16 . . . . . . . .
18 Enter your earned income. See instructions . . . .
19 Enter the amount shown below that applies
to you.
• If married filing jointly, enter your
spouse’s earned income (if you or your
spouse was a student or was disabled,
see the instructions for line 5).
• If married filing separately, see
instructions.

}

.

.

.

• All others, enter the amount from line 18.
20 Enter the smallest of line 17, 18, or 19 . . . . . .
21 Enter $5,000 ($2,500 if married filing separately and
you were required to enter your spouse’s earned
income on line 19) . . . . . . . . . . . . .

.
.

.
.

.
.

12
13
14 (
15

)

17
18

19

20

21
22 Is any amount on line 12 from your sole proprietorship or partnership?
No. Enter -0-.
Yes. Enter the amount here . . . . . . . . . . . . . . . . . . . .
23
23 Subtract line 22 from line 15 . . . . . . . . .
24 Deductible benefits. Enter the smallest of line 20, 21, or 22. Also, include this amount on
the appropriate line(s) of your return. See instructions . . . . . . . . . . . . .
25 Excluded benefits. If you checked “No” on line 22, enter the smaller of line 20 or 21.
Otherwise, subtract line 24 from the smaller of line 20 or line 21. If zero or less, enter -0- .
26 Taxable benefits. Subtract line 25 from line 23. If zero or less, enter -0-. Also, include this
amount on Form 1040, line 1; or Form 1040NR, line 8. On the dotted line next to Form
1040, line 1; or Form 1040NR, line 8, enter “DCB” . . . . . . . . . . . . . .

22

24
25

26

To claim the child and dependent care
credit, complete lines 27 through 31 below.
27 Enter $3,000 ($6,000 if two or more qualifying persons) . . . . . . . . . . . .
28 Add lines 24 and 25 . . . . . . . . . . . . . . . . . . . . . . . .
29 Subtract line 28 from line 27. If zero or less, stop. You can’t take the credit.
Exception. If you paid 2017 expenses in 2018, see the instructions for line 9 . . . . .
30 Complete line 2 on the front of this form. Don’t include in column (c) any benefits shown
on line 28 above. Then, add the amounts in column (c) and enter the total here. . . . .
31 Enter the smaller of line 29 or 30. Also, enter this amount on line 3 on the front of this form
and complete lines 4 through 11 . . . . . . . . . . . . . . . . . . . .

27
28
29
30
31
Form 2441 (2018)


Form

8949

Department of the Treasury
Internal Revenue Service

Sales and Other Dispositions of Capital Assets



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

2018

Attachment
Sequence No. 12A

Social security number or taxpayer identification number

Name(s) shown on return

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 generally short-term (see
instructions). 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)

Adjustment, if any, to gain or loss.
If you enter an amount in column (g),
(e)
(h)
enter a code in column (f).
Cost or other basis.
Gain or (loss).
See
the
separate
instructions.
See the Note below
Subtract column (e)
and see Column (e)
from column (d) and
(f)
(g)
in the separate
combine the result
Code(s) from
instructions
with column (g)
Amount of
instructions
adjustment

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 (2018)

Attachment Sequence No. 12A

Form 8949 (2018)
Name(s) shown on return. Name and SSN or taxpayer identification no. not required if shown on other side

Page 2

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 generally long-term (see
instructions). 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.)

Stamp Collection

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

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

20/July/2014

8/12/2018

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

4,800

Adjustment, if any, to gain or loss.
If you enter an amount in column (g),
(e)
(h)
enter a code in column (f).
Cost or other basis.
Gain or (loss).
See
the
separate
instructions.
See the Note below
Subtract column (e)
and see Column (e)
from column (d) and
(f)
(g)
in the separate
combine the result
Code(s) from
instructions
with column (g)
Amount of
instructions
adjustment

2,400

2,400

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) ▶

4,800
2,400
0
2,400
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 (2018)


Form

8949

Department of the Treasury
Internal Revenue Service

Sales and Other Dispositions of Capital Assets



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

2018

Attachment
Sequence No. 12A

Social security number or taxpayer identification number

Name(s) shown on return

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 generally short-term (see
instructions). 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)

Adjustment, if any, to gain or loss.
If you enter an amount in column (g),
(e)
(h)
enter a code in column (f).
Cost or other basis.
Gain or (loss).
See
the
separate
instructions.
See the Note below
Subtract column (e)
and see Column (e)
from column (d) and
(f)
(g)
in the separate
combine the result
Code(s) from
instructions
with column (g)
Amount of
instructions
adjustment

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 (2018)

Attachment Sequence No. 12A

Form 8949 (2018)
Name(s) shown on return. Name and SSN or taxpayer identification no. not required if shown on other side

Page 2

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 t...


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