Econ 138A - Fall 2014 Answers for Case Study Tex Payer Tax Return

Transcription

1 Econ A - Fall 01 Answers for Case Study Tex Payer - 01 Tax Return Question a) Answer a): Why is there no form for the California muni interest? Since municipal interest is nontaxale for federal, the IRS does not require a form e filed for it unless there is taxale interest income. Any similar explanation is ok. Question ): Answer ): What advice would you give Tex with regard to any future stock sales? He should hold the stock over one year in order to get long term capital gain treatment, which is currently 1% for his tax racket, assuming the price doesn't drop. Question c): What amount of tax does Tex need to pay in for 01 (either through withholding or estimated payments) in order for him to avoid any 01 penalties? Answer c): $1, times 0% = $1, (or whatever the tax liaility on line 1 times 0%, if different) Question d): What is Tex's marginal rate for 01? Answer d): Either or % is acceptale Extra Credit Question: How was the depreciation of $1, calculated? Extra Credit Answer: $0,000 to uild the cain divided y the annual depreciation rate for residential real estate of. years =, for 0%. Tex owns 0%, so, times 0% = $1,.

2 Form () 0 U.S. Individual Income Tax Return 01 OM No Attach Form(s) W- here. Also attach Forms W-G and -R if tax was withheld IRS Use Only - Do not write or staple in this space. For the year Jan. 1-Dec. 1, 01, or other tax year eginning, 01, ending, 0 See separate instructions. Your first name and initial Last name TE PAYER 0 If a joint return, spouse s first name and initial Spouse s social security numer and full name here. Qualifying widow(er) with dependent child oxes checked a Yourself. If someone can claim you as a dependent, do not check ox a ~~~~~~~~~~~~~~~~ on a and Spouse No. of children () if child on c who: () Dependent s social () Dependent s u c Dependents: relationship to under age 1 lived with you security numer (1) First name Last name qualifying for child you did not live with tax credit pmo you due to divorce or separation (see instructions) d Wages, salaries, tips, etc. Attach Form(s) W- ~~~~~~~~~~~~~~~~~~~~~~~~~~ a a 1 1 1a 1a 1 1 0a Taxale interest. Attach Schedule if required ~~~~~~~~~~~~~~~~~~~~~~~~~~ Tax-exempt interest. Do not include on line a ~~~~~~~~~~~,000. Social security enefits ~~~~ 0a Taxale amount ~~~~~~ Comine the amounts in the far right column for lines through. This is your total income 0 1a Last name Home address (numer and street). If you have a P.O. ox, see instructions. STATE STREET City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces elow. Apt. no. Make sure the SSN(s) aove and on line c are correct. Presidential Election Campaign SANTA ARARA, CA 1 Check here if you, or your spouse if filing jointly, want $ to go to this fund. Checking a ox elow Foreign country name Foreign province/state/county Foreign postal code will not change your tax or refund. Filing Status Check only one ox. Exemptions If more than four dependents, see instructions and check here Income If you did not get a W-, see instructions. Adjusted Gross Income LHA Single Married filing jointly (even if only one had income) Married filing separately. Enter spouse s SSN aove Educator expenses ~~~~~~~~~~~~~~~~~~~~~~~ Certain usiness expenses of reservists, performing artists, and fee-asis government officials. Attach Form 0 or 0-EZ ~~~~~~~~~~~~~~~~~ Alimony paid Recipient s SSN Sutract line from line. This is your adjusted gross income For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. 0 1a You Spouse Head of household (with qualifying person). If the qualifying person is a child ut not your dependent, enter this child s name here. Total numer of exemptions claimed Ordinary dividends. Attach Schedule if required ~~~~~~~~~~~~~~~~~~~~~~~~~ Qualified dividends ~~~~~~~~~~~~~~~~~~~~~~~ Taxale refunds, credits, or offsets of state and local income taxes~~~~~~~~~~~~~~~~~~ Alimony received ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ usiness income or (loss). Attach Schedule C or C-EZ ~~~~~~~~~~~~~~~~~~~~~~~ Capital gain or (loss). Attach Schedule D if required. If not required, check here ~~~~~~~ Other gains or (losses). Attach Form ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ IRA distriutions ~~~~~~~ 1a Taxale amount ~~~~~~ Pensions and annuities ~~~~ 1a Taxale amount ~~~~~~ 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 Health savings account deduction. Attach Form ~~~~~~~~ Moving expenses. Attach Form 0 ~~~~~~~~~~~~~~~ Deductile part of self-employment tax. Attach Schedule SE~~~~~~ Self-employed SEP, SIMPLE, and qualified plans ~~~~~~~~~~ Self-employed health insurance deduction ~~~~~~~~~~~~~ Penalty on early withdrawal of savings ~~~~~~~~~~~~~~~ IRA deduction Student loan interest deduction!! ~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~ Tuition and fees. Attach Form 1 ~~~~~~~~~~~~~~~~ Domestic production activities deduction. Attach Form 0 ~~~~~ Add lines through ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ a a ; " " " " 1,000. Dependents on c not entered aove Add numers on lines aove 1,000., ,000.,. 1,.,000. 0,. Form 0 (01)

3 Form 0 (01) TE PAYER 0-- Tax and Amount from line (adjusted gross income) Credits a Check You were orn efore January, 1, lind. Total oxes Standard Deduction for - if: Spouse was orn efore January, 1, lind. checked ~ a 1 rqs pmo People who If your spouse itemizes on a separate return or you were a dual-status alien, check here ~~ check any ox on line a or 0 Itemized deductions (from Schedule A) or your standard deduction (see left margin) ~~~~~~~~~~~ 0 orwho can e claimed as a 1 Sutract line 0 from line ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 1 dependent, see instructions. Exemptions. If line is $,000 or less, multiply $,00 y the numer on line d. Otherwise, see inst. Alternative minimum tax. Attach Form ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ All others: Add lines and Single or Married filing Foreign tax credit. Attach Form 1 if required ~~~~~~~~~~~~~ separately, $,0 Credit for child and dependent care expenses. Attach Form ~~~~~~ Married filing jointly or Qualifying widow(er), $,00 Head of household, $,0 Other Taxes Payments If you have a qualifying child, attach Schedule EIC. Refund Direct deposit? See instructions. Amount You Owe Third Party Designee Sign Here Joint return? See instructions. Keep a copy for your records. Paid Preparer Use Only 0 1 Credits from Form: a Reservedc d 1 Add lines,, a, and through 1. These are your total payments If line is more than line 1, sutract line 1 from line. This is the amount you overpaid~~~~~~~~~ a Amount of line you want refunded to you. If Form is attached, check here Routing Account numer c Type: Checking Savings d numer Amount of line you want applied to your 01 estimated tax Firm s address Taxale income. Sutract line from line 1. If line is more than line 1, enter -0- ~~~~~~~~~~~ Tax. Check if any from: a Form(s) 1 Form c ~~~~~~~~ Residential energy credits. Attach Form ~~~~~~~~~~~~~~ Other credits from Form: a c First-time homeuyer credit repayment. Attach Form 0 if required ~~~~~~~~~~~~~~~~~~~ 0 Taxes from: a Form Form 0 c Inst.; enter code(s) 1 Add lines through. These are your total credits~~~~~~~~~~~~~~~~~~~~~~~~~~ Unreported social security and Medicare tax from Form: a Do you want to allow another person to discuss this return with the IRS (see instructions)? Yes. Complete elow. No Designee s Phone Personal identification name PREPARER no. (0) - numer (PIN) Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the est of my knowledge and elief, they are true, correct, and complete. Declaration of preparer (other than taxpayer) is ased on all information of which preparer has any knowledge. Your signature Date Your occupation Daytime phone numer Spouse s signature. If a joint return, oth must sign. Date Spouse s occupation If the IRS sent you an Identity Protection PIN, enter it here Print/Type preparer s name Preparer s signature Date Check self-employed Firm s name Firm s EIN " Phone no ~~~~~~~~~~~ Add lines through 0. This is your total tax Federal income tax withheld from Forms W- and ~~~~~~~~~~ 1,000. a Earned income credit (EIC) 0 1 Education credits from Form, line 1 ~~~~~~~~~~~~~~~ Retirement savings contriutions credit. Attach Form 0 ~~~~~~~~ Child tax credit. Attach Schedule, if required ~~~~~~~~~~~~ Sutract line from line. If line is more than line, enter -0- Self-employment tax. Attach Schedule SE ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Additional tax on IRAs, other qualified retirement plans, etc. Attach Form if required ~~~~~~~~~~ a Household employment taxes from Schedule H ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ = 01 estimated tax payments and amount applied from 0 return ~~~~ Nontaxale comat pay election ~~~~~ Additional child tax credit. Attach Schedule ~~~~~~~~~~~~ American opportunity credit from Form, line ~~~~~~~~~~~ Reserved ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Amount paid with request for extension to file ~~~~~~~~~~~~~~ Excess social security and tier 1 RRTA tax withheld Credit for federal tax on fuels. Attach Form 1 ~~~~~~~~~~~~~ ~~~~~~~~~~~ Amount you owe. Sutract line from line 1. For details on how to pay, see instructions ~~~~~~~ Estimated tax penalty (see instructions) a 0 if a 0 1 a PTIN Page 0,.,0. 1,.,00.,. 1,.. 1,. 1,. 1,. 1,000. 1,. 1,. ARTLETT, PRINGLE & WOLF, LLP 0 1 CHAPALA ST., P.O. O 00 (0) - SANTA ARARA, CA -00

4 SCHEDULE A (Form 0) Department of the Treasury Internal Revenue Service () Name(s) shown on Form 0 Medical and Dental Expenses Taxes You Paid Interest You Paid 1 OM No Information aout Schedule A and its separate instructions is at Attach to Form 0. Sequence No. 0 Caution. Do not include expenses reimursed or paid y others. Medical and dental expenses (see instructions) ~~~~~~~~~~~~~~~~~ SEE STATEMENT 1 Enter amount from Form 0, line ~~~~~~~~~~ 0,. Sutract line from line 1. If line is more than line 1, enter -0- State and local (check only one ox): a Income taxes, or ~~~~~~~~~~~~~~~~~~~~~~~~~,. Other taxes. List type and amount 1 1 Add lines through Home mortgage interest and points reported to you on Form ~~~~~~~~,000. Home mortgage interest not reported to you on Form. If paid to the person from whom you ought the home, see instructions and show that person s name, identifying no., and address 1 Note. Your mortgage 1 ~~~ interest Points not reported to you on Form. See instructions for special rules deduction may 1 Mortgage insurance premiums (see instructions) ~~~~~~~~~~~~~~~~ 1 e limited (see 1 Investment interest. Attach Form if required. (See instructions.) ~~~~~~ 1 instructions). 1 Add lines through 1 1 Gifts to 1 Gifts y cash or check. If you made any gift of $0 or more, see instructions ~~ Charity 1 Other than y cash or check. If any gift of $0 or more, see instructions. If you made a You must attach Form if over $00 ~~~~~~~~~~~~~~~~~~~~ SEE STATEMENT 1 0. gift and got a enefit for it, Carryover from prior year ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ see instructions. 1 Add lines 1 through 1 Casualty and Theft Losses 0 Jo Expenses and Certain Miscellaneous Deductions Other Miscellaneous Deductions Total Itemized Deductions 0 Multiply line y % (.). ut if either you or your spouse was orn efore January, 1, multiply line y.% (.0) instead~~~~~~~~~~~~~~ General sales taxes pmo Itemized Deductions Real estate taxes (see instructions) ~~~~~~~~~~~~~~~~~~~~~~~ Personal property taxes ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Casualty or theft loss(es). Attach Form. (See instructions.) Unreimursed employee expenses - jo travel, union dues, jo education, etc. Attach Form 0 or 0-EZ if required. (See instructions.) 1 1 Tax preparation fees ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Other expenses - investment, safe deposit ox, etc. List type and amount EMPLOYEE EPENSES Add lines through ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Enter amount from Form 0, line ~~~~~~~~~~ 0,. Multiply line y % (.0) ~~~~~~~~~~~~~~~~~~~~~~~~~~~ Sutract line from line. If line is more than line, enter -0- Other - from list in instructions. List type and amount 1 1 Is Form 0, line, over $,000? No. Your deduction is not limited. Add the amounts in the far right column for lines through. Also, enter this amount on Form 0, line 0. ~~~~~~~~ Yes. Your deduction may e limited. See the Itemized Deductions Worksheet in the instructions to figure the amount to enter. If you elect to itemize deductions even though they are less than your standard deduction, check here LHA For Paperwork Reduction Act Notice, see Form 0 instructions. Schedule A (Form 0) 01 1 TEST-EFS PAYER, TE TEST-EF1 pn mno 0 01 TE PAYER 0,000.,0., ,0. " " 0.,., ,0.

5 SCHEDULE (Form 0A or 0) Department of the Treasury Internal Revenue Service () Name(s) shown on return Interest and Ordinary Dividends 01 OM No Attach to Form 0A or 0. Information aout Schedule (Form 0A or 0) and its instructions is at Sequence No. 0 TE PAYER 0 Part I 1 List name of payer. If any interest is from a seller-financed mortgage and the uyer used the Amount Interest property as a personal residence, see instructions and list this interest first. Also, show that " " uyer s social security numer and address MONTECITO ANK & TRUST,000. SCHWA,000. FROM K-1 - TE AND RE, LLC 0. 1 Note. If you received a Form -INT, Form -OID, or sustitute statement from a rokerage firm, list the firm s name as the payer and enter the total interest shown on that form. Part II Ordinary Dividends Attach Form 1 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Sutract line from line. Enter the result here and on Form 0A, or Form 0, line a Note. If line is over $1,00, you must complete Part III. SUTOTAL FOR LINE 1 1,00. TA-EEMPT INTEREST SEE STATEMENT -,000. Add the amounts on line 1 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~,00. Excludale interest on series EE and I U.S. savings onds issued after. List name of payer,00. Amount Note. If you received a Form -DIV or sustitute statement from a rokerage firm, list the firm s name as the payer and enter the ordinary dividends shown on that form. Part III Foreign Accounts and Trusts Add the amounts on line. Enter the total here and on Form 0A, or Form 0, line a Note. If line is over $1,00, you must complete Part III. You must complete this part if you (a) had over $1,00 of taxale interest or ordinary dividends; () had a foreign account; or (c) received a distriution from, or were a grantor of, or a transferor to, a foreign trust. a At any time during 01, did you have a financial interest in or signature authority over a financial account (such as a ank account, securities account, or rokerage account) located in a foreign country? See instructions~~~ If "Yes," are you required to file FinCEN Form, Report of Foreign ank and Financial Accounts (FAR), formerly TD F 0-.1 to report that financial interest or signature authority? See FinCEN Form and its instructions for filing requirements and exceptions to those requirements ~~~~~~~~~~~~~~~~~~~~ If you are required to file FinCen Form, enter the name of the foreign country where the financial account is located ~~~~~~~~~~~~~~ During 01, did you receive a distriution from, or were you the grantor of, or transferor to, a foreign trust? If "Yes," you may have to file Form 0. See instructions LHA For Paperwork Reduction Act Notice, see your tax return instructions. Schedule (Form 0A or 0) 01 1 TEST-EFS PAYER, TE TEST-EF1 Yes No

6 SCHEDULE C (Form 0) Department of the Treasury Internal Revenue Service () Name of proprietor Profit or Loss From usiness (Sole Proprietorship) For information on Schedule C and its instructions, go to Attach to Form 0, 0NR, or 1; partnerships generally must file Form. 01 OM No Sequence No. Social security numer (SSN) 0 TE PAYER 0-- A Principal usiness or profession, including product or service (see instructions) LANDSCAPE SERVICES C usiness name. If no separate usiness name, leave lank. LANDSCAPES Y TE E F G H I J If "Yes," did you or will you file required Forms? Part I Income 1 Gross receipts or sales. See instructions for line 1 and check the ox if this income was reported to you on Form W Enter code from instructions D Employer ID numer (EIN), (see instr.) usiness address (including suite or room no.) City, town or post office, state, and ZIP code Accounting method: (1) Cash () Accrual () Other (specify) Did you "materially participate" in the operation of this usiness during 01? If "No," see instructions for limit on losses ~~~~~~~~~ Yes No Gross income. Add lines and Part II Expenses Enter expenses for usiness use of your home only on line 0. Advertising~~~~~~~~~~~~ 00. Office expense~~~~~~~~~~~~~~ Car and truck expenses 1 Pension and profit-sharing plans ~~~~~~ 1 (see instructions) ~~~~~~~~~ 0 Rent or lease (see instructions): Commissions and fees ~~~~~~ a Vehicles, machinery, and equipment ~~~~ Contract laor (see instructions) ~~ 1,000. Other usiness property ~~~~~~~~~ Depletion ~~~~~~~~~~~~ Repairs and maintenance ~~~~~~~~~ 1 Depreciation and section than on line 1) ~~~~~~~~~~ 1 Deductile meals and 1 Insurance (other than health) ~~~~ 1 entertainment (see instructions) ~~~~~~ 1 Interest: Utilities ~~~~~~~~~~~~~~~~~ a Mortgage (paid to anks, etc.) ~~~ 1a Wages (less employment credits) ~~~~~ Other ~~~~~~~~~~~~~~ 1 a Other expenses (from line ) ~~~~~~~ 1 Legal and professional services Reserved for future use 0 Total expenses efore expenses for usiness use of home. Add lines through a ~~~~~~~~~~~~~~~~~ Tentative profit or (loss). Sutract line from line ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Simplified method filers only: enter the total square footage of: (a) your home: 1 Net profit or (loss). Sutract line 0 from line. LHA If you started or acquired this usiness during 01, check here ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did you make any payments in 01 that would require you to file Form(s)? (see instructions) ~~~~~~~~~~~~~~~~ and the "Statutory employee" ox on that form was checked ~~~~~~~~~~~~~~~~~~~~~~~~~~ Returns and allowances ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Sutract line from line 1 Cost of goods sold (from line ) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ If a profit, enter on oth Form 0, line (or Form 0NR, line 1) and on Schedule SE, line. (If you checked the ox on line 1, see instructions). Estates and trusts, enter on Form 1, line. If a loss, you must go to line. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Gross profit. Sutract line from line ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Other income, including federal and state gasoline or fuel tax credit or refund (see instructions) ~~~~~~~~~~~~~~~ expense deduction (not included in Part III) (see instructions) ~~~~~ Employee enefit programs (other If you checked a, enter the loss on oth Form 0, line, (or Form 0NR, line 1) and on Schedule SE, line. (If you checked the ox on line 1, see the line 1 instructions). Estates and trusts, enter on Form 1, line. If you checked, you must attach Form. Your loss may e limited. Supplies (not included in Part III) Expenses for usiness use of your home. Do not report these expenses elsewhere. Attach Form unless using the simplified method (see instructions). and () the part of your home used for usiness: Use the Simplified Method Worksheet in the instructions to figure the amount to enter on line 0 If you have a loss, check the ox that descries your investment in this activity (see instructions). ~~~~~ Taxes and licenses ~~~~~~~~~~~~ Travel, meals, and entertainment: a Travel ~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~ 1 0a 0 a a 0 1 a Yes Yes No No All investment is at risk. Some investment is not at risk. For Paperwork Reduction Act Notice, see the separate instructions. Schedule C (Form 0) 01. p mo pn mno,000.,000.,000.,000., , TEST-EFS PAYER, TE TEST-EF1

7 SCHEDULE D (Form 0) Department of the Treasury Internal Revenue Service () Name(s) shown on return Part I See instructions for how to figure the amounts to enter on the lines elow. 1a 1 Attach to Form 0 or Form 0NR. Information aout Schedule D and its separate instructions is at Use Form to list your transactions for lines 1,,,,, and. This form may e easier to complete if you round off cents to whole dollars. Totals for all short-term transactions reported on Form - for which asis 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, leave this line lank and go to line 1 Totals for all transactions reported on Form(s) with ox A checked Totals for all transactions reported on Form(s) with ox checked Totals for all transactions reported on Form(s) with ox C checked Capital Gains and Losses Short-Term Capital Gains and Losses - Assets Held One Year or Less (d) Proceeds (sales price) (e) Cost (or other asis) (g) Adjustments to gain or loss from Form(s), Part I, line, column (g) 01 OM No Sequence No. TE PAYER 0 " " (h) Gain or (loss) Sutract column (e) from column (d) and comine the result with column (g),000. 1,000.,000. Part II a Short-term gain from Form and short-term gain or (loss) from Forms, 1, and ~~~~~~~~ Net short-term gain or (loss) from partnerships, S corporations, estates, and trusts from Schedule(s) K-1 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Short-term capital loss carryover. Enter the amount, if any, from line of your Capital Loss Carryover Worksheet in the instructions ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ( ) Net short-term capital gain or (loss). Comine lines 1a through in column (h). If you have any long-term capital gains or losses, go to Part II elow. Otherwise, go to Part III on page Long-Term Capital Gains and Losses - Assets Held More Than One Year See instructions for how to figure the amounts to enter on the lines elow. This form may e easier to complete if you round off cents to whole dollars. Totals for all long-term transactions reported on Form - for which asis 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, leave this line lank and go to line Totals for all transactions reported on Form(s) with ox D checked Totals for all transactions reported on Form(s) with ox E checked Totals for all transactions reported on Form(s) with ox F checked (d) Proceeds (sales price) (e) Cost (or other asis) Gain from Form, Part I; long-term gain from Forms and ; and long-term gain or (loss) (g) Adjustments to gain or loss from Form(s), Part II, line, column (g) from Forms, 1, and ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~,000. (h) Gain or (loss) Sutract column (e) from column (d) and comine the result with column (g) Net long-term gain or (loss) from partnerships, S corporations, estates, and trusts from Schedule(s) K-1~~~~~ LHA Capital gain distriutions ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 1 Long-term capital loss carryover. Enter the amount, if any, from line 1 of your Capital Loss Carryover Worksheet in the instructions~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 1 ( ) Net long-term capital gain or (loss). Comine lines a through 1 in column (h). Then go to Part III on page 1 For Paperwork Reduction Act Notice, see your tax return instructions. Schedule D (Form 0) TEST-EFS PAYER, TE TEST-EF1

8 Schedule D (Form 0) 01 Part III Summary TE PAYER 0-- Page 1 Comine lines and 1 and enter the result ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 1,000. If line 1 is a gain, enter the amount from line 1 on Form 0, line 1, or Form 0NR, line 1. Then go to line 1 elow. If line 1 is a loss, skip lines 1 through 0 elow. Then go to line. Also e sure to complete line. If line 1 is zero, skip lines 1 through elow and enter -0- on Form 0, line 1, or Form 0NR, line 1. Then go to line. 1 Are lines 1 and 1 oth gains? Yes. Go to line. No. Skip lines through, and go to line. Enter the amount, if any, from line of the % Rate Gain Worksheet in the instructions ~~~~~~ J 1 Enter the amount, if any, from line of the Unrecaptured Section 0 Gain Worksheet in the instructions ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ J 1 0 Are lines and 1 oth zero or lank? Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 0, line (or in the instructions for Form 0NR, line ). Do not complete lines and elow. No. Complete the Schedule D Tax Worksheet in the instructions. Do not complete lines and elow. If line 1 is a loss, enter here and on Form 0, line 1, or Form 0NR, line 1, the smaller of: The loss on line 1 or ($,000), or if married filing separately, ($1,00) pmo ~~~~~~~~~~~~~~~~~~~~~~~~ ( ) Note. When figuring which amount is smaller, treat oth amounts as positive numers. Do you have qualified dividends on Form 0, line, or Form 0NR, line? Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Form 0, line (or in the instructions for Form 0NR, line ). No. Complete the rest of Form 0 or Form 0NR. Schedule D (Form 0) TEST-EFS PAYER, TE TEST-EF1

9 Form Department of the Treasury Internal Revenue Service Information aout Form and its separate instructions is at File with your Schedule D to list your transactions for lines 1,,,,, and of Schedule D. Sequence No. Name(s) shown on return Social security numer or taxpayer identification no. TE PAYER 0-- Most rokers issue their own sustitute statement instead of using Form -. They also may provide asis information (usually your cost) to you on the statement even if it is not reported to the IRS. efore you check ox A,, or C elow, determine whether you received any statement(s) and, if so, the transactions for which asis was reported to the IRS. rokers are required to report asis to the IRS for most stock you ought in 0 or later. Part I Transactions involving capital assets you held one year or less are short-term. For long-term transactions, see page. Note. You may aggregate all short-term transactions reported on Form(s) - showing asis was reported to the IRS and for which no adjustments or codes are required. Enter the total directly on Schedule D, line 1a; you are not required to report these transactions on Form (see instructions). You must check ox A,, or C elow. Check only one ox. If more than one ox applies for your short-term transactions, complete a separate Form, page 1, for each applicale ox. If you have more short-term transactions than will fit on this page for one or more of the oxes, complete as many forms with the same ox checked as you need. Sales and Other Dispositions of Capital Assets 01 Short-Term. (A) Short-term transactions reported on Form(s) - showing asis was reported to the IRS (see Note aove) () Short-term transactions reported on Form(s) - showing asis was not reported to the IRS (C) Short-term transactions not reported to you on Form - 1 (a) () (c) (d) (e) Description of property Date acquired Date sold or Proceeds Cost or other (Example: 0 sh. YZ Co.) (Mo., day, yr.) disposed (sales price) asis. See the (Mo., day, yr.) Note elow and see Column (e) in Adjustment, if any, to gain or loss. If you enter an amount in column (g), enter a code in column (f). See instructions. (f) (g) the instructions Code(s) Amount of adjustment OM No A (h) Gain or (loss). Sutract column (e) from column (d) and comine the result with column (g) APPLE STOCK - SHS 0/01/0/0/1,000. 1,000.,000. Totals. Add the amounts in columns (d), (e), (g) and (h) (sutract negative amounts). Enter each total here and include on your Schedule D, line 1 (if ox A aove is checked), line (if ox aove is checked), or line (if ox C aove is checked),000. 1,000.,000. Note. If you checked ox A aove ut the asis reported to the IRS was incorrect, enter in column (e) the asis as reported to the IRS, and enter an adjustment in column (g) to correct the asis. See Column (g) in the separate instructions for how to figure the amount of the adjustment LHA For Paperwork Reduction Act Notice, see separate instructions. Form (01) 1 TEST-EFS PAYER, TE TEST-EF1

10 SCHEDULE E (Form 0) Department of the Treasury Internal Revenue Service () Name(s) shown on return Supplemental Income and Loss OM No (From rental real estate, royalties, partnerships, S corporations, estates, trusts, REMICs, etc.) Attach to Form 0, 0NR, or Form 1. Information aout Schedule E and its separate instructions is at Sequence No. 1 TE PAYER 0-- Part I Income or Loss From Rental Real Estate and Royalties Note. If you are in the usiness of renting personal property, use Schedule C or C-EZ (see instructions). If you are an individual, report farm rental income or loss from Form on page, line 0. A Did you make any payments in 01 that would require you to file Form(s)? (see instructions) Yes No 1a Physical address of each property (street, city, state, ZIP code) A UTTE, MT C 1 Type of Property For each rental real estate property listed Fair Rental aove, report the numer of fair rental and (from list elow) Days personal use days. Check the QJV ox A 1 only if you meet the requirements to file as A a qualified joint venture. See instructions. C Type of Property: 1 Single Family Residence C Personal Use Days Multi-Family Residence Commercial Royalties Other (descrie) Income: Properties: A C Rents received, a c d e If "Yes," did you or will you file required Forms? Depreciation expense or depletion Other (list) Vacation/Short-Term Rental (loss), see instructions to find out if you must file Form ~~~~ Deductile rental real estate loss after limitation, if any, on Form (see instructions) ~~~~~~~~~~~~~~~~~~~~ ( )( )( ) Total of all amounts reported on line for all rental properties ~~~~~~~~~~~~~~~ a,000. Income. Add positive amounts shown on line. Do not include any losses Losses. Add royalty losses from line and rental real estate losses from line. Enter total losses here ~~~~~ Total rental real estate and royalty income or (loss). Comine lines and. Enter the result here. If Parts II, III, IV, and line 0 on page do not apply to you, also enter this amount on Form 0, line 1, or Form 0NR, line. Otherwise, include this amount in the total on line 1 on page Land Royalties received Expenses: LHA Advertising ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Auto and travel (see instructions) ~~~~~~~~~~~~~~~~~~ Cleaning and maintenance Commissions Insurance ~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~ Legal and other professional fees ~~~~~~~~~~~~~~~~~~ Management fees ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~ Mortgage interest paid to anks, etc. (see instructions) Other interest Repairs Supplies Taxes ~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Utilities ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~ Total expenses. Add lines through 1 ~~~~~~~~~~~~~~~ Sutract line 0 from line (rents) and/or (royalties). If result is a Total of all amounts reported on line for all royalty properties Total of all amounts reported on line for all properties Total of all amounts reported on line for all properties Total of all amounts reported on line 0 for all properties For Paperwork Reduction Act Notice, see the separate instructions. Schedule E (Form 0) Self-Rental ~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~ ,.,.,. c d e ~~~~~~~~~~~~~~~~~~ 1,.,. Yes No QJV,. ( ),. 1 TEST-EFS PAYER, TE TEST-EF1

11 Schedule E (Form 0) 01 Sequence No. 1 Page Name(s) shown on return. Do not enter name and social security numer if shown on page 1. TE PAYER 0-- Caution. The IRS compares amounts reported on your tax return with amounts shown on Schedule(s) K-1. Part II Income or Loss From Partnerships and S Corporations Note. If you report a loss from an at-risk activity for which any amount is not at risk, you must check column (e) on line and attach Form. See instructions. passive activity (if that loss was not reported on Form ), or unreimursed partnership expenses? ~~~~~~~~~~~~~~ Yes If you answered "Yes," see instructions efore completing this section. (a) Name () Enter Pfor (c) Check (d) Employer partnership; S if foreign for S corporation partnership identification numer A TE AND RE, LLC P - C D A C D a 0 1 (f) Passive loss allowed (attach Form if required) (g) Passive income from Schedule K-1 1,000. (h) Nonpassive loss from Schedule K-1 Total partnership and S corporation income or (loss). Comine lines 0 and 1. Enter the (a) Name A A Are you reporting any loss not allowed in a prior year due to the at-risk, excess farm loss, or asis limitations, a prior year unallowed loss from a Totals ~~~~~ Totals ~~~~~ Add columns (g) and (j) of line a Passive Income and Loss Add columns (f), (h), and (i) of line (c) Passive deduction or loss allowed (attach Form if required) Passive Income and Loss 1,000. (d) Passive income from Schedule K-1 Nonpassive Income and Loss (i) Section 1 expense deduction from Form ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ result here and include in the total on line 1 elow Part III Income or Loss From Estates and Trusts (e) Deduction or loss from Schedule K (e) Check if any amount is not at risk (j) Nonpassive income from Schedule K-1 () Employer identification numer Nonpassive Income and Loss (f) Other income from Schedule K-1 a Totals ~~~~~~~~ Totals ~~~~~~~~ Add columns (d) and (f) of line a ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Add columns (c) and (e) of line ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ( ) Total estate and trust income or (loss). Comine lines and. Enter the result here and include in the total on line 1 elow Part IV Income or Loss From Real Estate Mortgage Investment Conduits (REMICs) - Residual Holder (a) Name () Employer (c) Excess inclusion from (d) Taxale income (net (e) Income from Schedules Q, line c identification numer loss) from Schedules Q, (see instructions) Schedules Q, line line 1 No 1,000. ( ) 1,000. Comine columns (d) and (e) only. Enter the result here and include in the total on line 1 elow Part V Summary Net farm rental income or (loss) from Form. Also, complete line elow ~~~~~~~~~~~~~~~~~~~~~ 0 Total income or (loss). Comine lines,,,, and 0. Enter the result here and on Form 0, line 1, or Form 0NR, line Reconciliation of farming and fishing income. Enter your gross farming and fishing income reported on Form, line ; Schedule K-1 (Form ), ox 1, code ; Schedule K-1 (Form S), ox 1, code V; and Schedule K-1 (Form 1), ox 1, code F (see instructions) Reconciliation for real estate professionals. If you were a real estate professional (see instructions), enter the net income or (loss) you reported anywhere on Form 0 or Form 0NR from all rental real estate activities in which you materially participated under the passive activity loss rules 1,. Schedule E (Form 0) 01 1 TEST-EFS PAYER, TE TEST-EF1

12 Form Sutract line from line. If more than zero, go to line 1. If zero or less, enter -0- here and on lines 1,, and, and go to line AMT OM No Department of the Treasury Information aout Form and its separate instructions is at Internal Revenue Service () Attach to Form 0 or Form 0NR. Sequence No. Name(s) shown on Form 0 or Form 0NR TE PAYER 0 Part I Alternative Minimum Taxale Income 1 If filing Schedule A (Form 0), enter the amount from Form 0, line 1, and go to line. Otherwise, enter the amount from Form 0, line, and go to line. (If less than zero, enter as a negative amount.) ~~~~~~~~ 1 1, Medical and dental. If you or your spouse was or older, enter the smaller of Schedule A (Form 0), line, or.% (.0) of Form 0, line. If zero or less, enter -0-~~~~~~~~~~~~~~~~~~~~~~~~~~ Other adjustments, including income-ased related adjustments~~~~~~~~~~~~~~~~~~~~~~~~ Alternative minimum taxale income. Comine lines 1 through. (If married filing separately and line is more than $,0, see instructions.) Part II Alternative Minimum Tax (AMT) Exemption. (If you were under age at the end of 01, see instructions.) 0 1 Taxes from Schedule A (Form 0), line ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Enter the home mortgage interest adjustment, if any, from line of the worksheet in the instructions for this line Miscellaneous deductions from Schedule A (Form 0), line ~~~~~~~~~~~~~~~~~~~~~~~~ If Form 0, line, is $,000 or less, enter -0-. Otherwise, see instructions Tax refund from Form 0, line or line ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Investment interest expense (difference etween regular tax and AMT) ~~~~~~~~~~~~~~~~~~~~ Depletion (difference etween regular tax and AMT) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Net operating loss deduction from Form 0, line. Enter as a positive amount ~~~~~~~~~~~~~~~ Alternative tax net operating loss deduction ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Interest from specified private activity onds exempt from the regular tax ~~~~~~~~~~~~~~~~~~~ SEE STATEMENT Qualified small usiness stock (% of gain excluded under section 0) ~~~~~~~~~~~~~~~~~~~~ Exercise of incentive stock options (excess of AMT income over regular tax income) ~~~~~~~~~~~~~~ Estates and trusts (amount from Schedule K-1 (Form 1), ox, code A) ~~~~~~~~~~~~~~~~~~ Electing large partnerships (amount from Schedule K-1 (Form -), ox ) ~~~~~~~~~~~~~~~~~ IF your filing status is... AND line is not over... THEN enter on line... If line is over the amount shown aove for your filing status, see instructions. ~~~~~~~~~~~~~~~~ Disposition of property (difference etween AMT and regular tax gain or loss) ~~~~~~~~~~~~~~~~~ Depreciation on assets placed in service after (difference etween regular tax and AMT) ~~~~~~~~~ Passive activities (difference etween AMT and regular tax income or loss) ~~~~~~~~~~~~~~~~~~ SEE STATEMENT Loss limitations (difference etween AMT and regular tax income or loss) Circulation costs (difference etween regular tax and AMT) Long-term contracts (difference etween AMT and regular tax income) Mining costs (difference etween regular tax and AMT) ~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Research and experimental costs (difference etween regular tax and AMT) ~~~~~~~~~~~~~~~~~~ Income from certain installment sales efore January 1, ~~~~~~~~~~~~~~~~~~~~~~~~~ Intangile drilling costs preference Single or head of household Married filing jointly or qualifying widow(er) Married filing separately ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~ $,00 ~~~~~~~~~~ $1,00 ~ 1,00 ~~~~~~~~~~ 0,00 ~~~~~~ ~~~~~~~~~~,0 ~~~~~~~~~~ 0,00 ~~~~~~ If you are filing Form or -EZ, see instructions for the amount to enter. ~~~~~~ If you reported capital gain distriutions directly on Form 0, line 1; you reported qualified dividends on Form 0, line ; or you had a gain on oth lines 1 and 1 of Schedule D (Form 0) (as refigured for the AMT, if necessary), complete Part III on page and enter the amount from line 0 here. All others: If line 0 is $1,00 or less ($,0 or less if married filing separately), multiply line 0 y % (.). Otherwise, multiply line 0 y % (.) and sutract $,0 ($1, if married filing separately) from the result. Alternative Minimum Tax - Individuals LHA For Paperwork Reduction Act Notice, see your tax return instructions. Form (01) 1 1 TEST-EFS PAYER, TE TEST-EF1 ~ ~~~~~ Alternative minimum tax foreign tax credit (see instructions) ~~~~~~~~~~~~~~~~~~~~~~~~~~ Tentative minimum tax. Sutract line from line 1~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Tax from Form 0, line (minus any tax from Form and any foreign tax credit from Form 0, line ). If you used Sch J to figure your tax, the amount from line of Form 0 must e refigured without using Sch J Sutract line from line. If zero or less, enter -0-. Enter here and on Form 0, line pnmno p n m n o ~ " ",. 0.,000., ,. 1,00.,. 1,. 1,. 1,..