University of California San Diego Tax Return Discussion Paper

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Download the forms from irs.gov.

look at attached document for all instructions and original work only please

please take a picture of the following: front of form 1040, front of Schedule E, front of Schedule D and front of Form 4797

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Accountancy Spring 2020 Tax Return Assignment Andi Fauci, age-79, is single and has no dependents. Andi had the following relevant transactions for 2019: Social Security benefits for Andi Interest income from local bank Qualified dividends Loss on sale of Tandem Diabetic stock (held from 11/10/2017 to 10/31/2019) Federal income tax quarterly deposits (total) Itemized deductions RENTAL OPERATIONS Rental income Interest expense Property taxes Maintenance Insurance Depreciation-Building (Line 17, Form 4562) Depreciation-Appliances (Line 17, Form 4562) $19,000 650 555 -3,100 2,800 7,925 Single Family Home $21,900 8,800 1,650 440 1,260 2,495 0 SALE OF RENTAL RESIDENCE See Daily 9, Problem D Sales price (November 27, 2019) Building Land Cost (October 18, 2010) Land Building Depreciation allowed SALE OF APPLIANCES WITH RESIDENCE See Daily 9, Problem D Sales price Cost (October 18, 2014) Depreciation allowed Duplex $29,200 11,200 6,366 560 1.465 2,845 0 $ 48,000 72,000 $ 38,000 30,000 8,998 $ 5,500 9,000 6,880 Complete a Form 1040 with the appropriate Schedules and Forms for 2019 for Andi Fauci. Minimum forms required: Form 1040, Schedule 1, Schedule 3 Form 1040, Schedule B, Schedule D, Schedule E. Form 4562, Form 4797, Form 8949 (Optional), Form 8995 (optional). Hints: • Claim the QBI deduction for the rentals. • The sale of the land goes in Part I of Form 4797; and the sale of the building and appliances, Part III. Scan your return and post it to Turnitin by April 21. If you do not have a scanner, please take a picture of the following: front of form 1040, front of Schedule E, front of Schedule D and front of Form 4797 (all in one picture) and post it to Turnitin.
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Explanation & Answer

hi i have attached the pdf of all the forms. please check.

SCHEDULE 3
Department of the Treasury
Internal Revenue Service

OMB No. 1545-0074

Additional Credits and Payments

(Form 1040 or 1040-SR)


2019

▶ Attach to Form 1040 or 1040-SR.
Go to www.irs.gov/Form1040 for instructions and the latest information.

Attachment
Sequence No. 03
Your social security number

Name(s) shown on Form 1040 or 1040-SR

Andy Fauci

Part I
1
2
3
4
5
6
7

Part II
8
9
10
11
12
13
14

Nonrefundable Credits

Foreign tax credit. Attach Form 1116 if required . . . . . . . . . . .
Credit for child and dependent care expenses. Attach Form 2441 . . . . .
Education credits from Form 8863, line 19 . . . . . . . . . . . . .
Retirement savings contributions credit. Attach Form 8880 . . . . . . .
Residential energy credits. Attach Form 5695 . . . . . . . . . . . .
Other credits from Form: a
3800
b
8801
c
Add lines 1 through 6. Enter here and include on Form 1040 or 1040-SR, line 13b

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Other Payments and Refundable Credits

2019 estimated tax payments and amount applied from 2018 return . .
Net premium tax credit. Attach Form 8962 . . . . . . . . . . .
Amount paid with request for extension to file (see instructions) . . . .
Excess social security and tier 1 RRTA tax withheld . . . . . . . .
Credit for federal tax on fuels. Attach Form 4136 . . . . . . . . .
Credits from Form: a
2439
b
Reserved
c
8885
d
Add lines 8 through 13. Enter here and on Form 1040 or 1040-SR, line 18d

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

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Cat. No. 71480G

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2800

2800

Schedule 3 (Form 1040 or 1040-SR) 2019


SCHEDULE 1
(Form 1040 or 1040-SR)
Department of the Treasury
Internal Revenue Service

OMB No. 1545-0074

Additional Income and Adjustments to Income
▶ Go

2019

▶ Attach to Form 1040 or 1040-SR.
to www.irs.gov/Form1040 for instructions and the latest information.

Attachment
Sequence No. 01
Your social security number

Name(s) shown on Form 1040 or 1040-SR

Andy Fauci

At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any
virtual currency? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Part I
1
2a
b
3
4
5
6
7
8

Taxable refunds, credits, or offsets of state and local income taxes . . . . . . . .
Alimony received . . . . . . . . . . . . . . . . . . . . . . . .
Date of original divorce or separation agreement (see instructions) ▶
Business income or (loss). Attach Schedule C . . . . . . . . . . . . . . .
Other gains or (losses). Attach Form 4797 . . . . . . . . . . . . . . . .
Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E .
Farm income or (loss). Attach Schedule F . . . . . . . . . . . . . . . .
Unemployment compensation . . . . . . . . . . . . . . . . . . . .
Other income. List type and amount ▶

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9

Combine lines 1 through 8. Enter here and on Form 1040 or 1040-SR, line 7a

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9

Part II

Yes

No

Additional Income

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Adjustments to Income

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Educator expenses
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Certain business expenses of reservists, performing artists, and fee-basis government officials. Attach
Form 2106 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12
Health savings account deduction. Attach Form 8889 . . . . . . . . . . . . . . . .
13
Moving expenses for members of the Armed Forces. Attach Form 3903 . . . . . . . . . .
14
Deductible part of self-employment tax. Attach Schedule SE . . . . . . . . . . . . . .
15
Self-employed SEP, SIMPLE, and qualified plans . . . . . . . . . . . . . . . . . .
16
Self-employed health insurance deduction . . . . . . . . . . . . . . . . . . . .
17
Penalty on early withdrawal of savings . . . . . . . . . . . . . . . . . . . . .
18a Alimony paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b Recipient’s SSN
. . . . . . . . . . . . . . . . . . . . . ▶
c Date of original divorce or separation agreement (see instructions) ▶
19
IRA deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20
Student loan interest deduction . . . . . . . . . . . . . . . . . . . . . . .
21
Tuition and fees. Attach Form 8917 . . . . . . . . . . . . . . . . . . . . . .
22
Add lines 10 through 21. These are your adjustments to income. Enter here and on Form 1040 or
1040-SR, line 8a . . . . . . . . . . . . . . . . . . . . . . . . . . . .
For Paperwork Reduction Act Notice, see your tax return instructions.

Cat. No. 71479F

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55376
19359
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74735

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Schedule 1 (Form 1040 or 1040-SR) 2019


SCHEDULE D

Capital Gains and Losses

(Form 1040 or 1040-SR)
Department of the Treasury
Internal Revenue Service (99)

OMB No. 1545-0074

2019

▶ 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.



Attachment
Sequence No. 12
Your social security number

Name(s) shown on return

Andy Fauci

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 I

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
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 . . . . . . . . . . . . .
4 Short-term gain from Form 6252 and short-term gain or (loss) from Forms 4684, 6781, and 8824 . .
5 Net short-term gain or (loss) from partnerships, S corporations, estates, and trusts from
Schedule(s) K-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6 Short-term capital loss carryover. Enter the amount, if any, from line 8 of your Capital Loss Carryover
Worksheet in the instructions
. . . . . . . . . . . . . . . . . . . . . . . .
7 Net short-term capital gain or (loss). Combine lines 1a through 6 in column (h). If you have any longterm capital gains or losses, go to Part II below. Otherwise, go to Part III on the back . . . . . .

Part II

4
5
6

(

)

7

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
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 II,
line 2, column (g)

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 .

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

(3100)

8b 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 I; 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 Pa...


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