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Taxpayer Information Name: Bryan Jones Capital Gains Bryan had the following stock transactions in 2017: He...

Taxpayer Information Name: Bryan Jones

Capital Gains Bryan had the following stock transactions in 2017:

He sold 1,000 shares of Apex Co. for $ 12,000 on June 7, 2016, which he purchased on April 1, 2014 for 25,000.

In addition, he sold 750 shares of Velocity Inc. for $10,000 on September 1, 2016, which he purchased on December 1, 2015 for $5,000.

Rental Real Estate Bryan owns a rent house which he purchased on July 1, 2014.

The income and expenses of the rental real estate unit for 2017 are as follows:

Rental income $12,000

Property taxes $1,500

Depreciation $1,000

Repairs and Maintenance $750

Insurance $2,000

Other Transactions in 2017

1. Bryan received a gift of $4,000 from his brother.

2. Bryan paid $3,000 for the year in alimony to his ex-wife, per divorce decree.

3. Bryan had gambling winnings of $1,000.

4. Bryan was the beneficiary of his mother’s life insurance policy. His mother died in 2017 and he received $50,000 under this policy

DO/PUT ON A SCHEDULE D FORM FROM 2016

DON'T DO SCHEDULE E FORM FROM 2017 LIKE LAST TIME OR EXPLAIN WRITTEN OUT

I NEED ACTUAL FORM

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Schedule D form from 2016 is shown below - SCHEDULE D (Form 1040) OMB No. 1545-0074 Capital Gains and Losses Attach to Form 1040 or Form 1040NR. Information about Schedule D and its separate instructions is at www.isgow scheduled. Use Form 8949 to list your transactions for lines 1b, 2, 3, 8b, 9, and 10. Department of the Treasury Attachment Sequence Na. 12 nternal ARevenue Service Narnelsi shown on return Bryan Jones 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 hGain or (loss Subtract calumn (d (el Cost to gain ar loss from from column idi and This form may be easier to complete if you round off cents toales price) whole dollars. or ather basis Foms 8949, Part combine the resut with ine 2, calumn ig 1a Totals for all short-term transactions reported on Fornm 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 Totals for all transactions reported on Form(s) 8949 with Box A checked Totals for all transactions reported on Formis) 8949 with Box B checked Totals for all transactions reported on Form(s) 8949 with Box C checked 5000 1b 2 3 5000 4 Short-term gain from Form 6252 and short-term gain or (loss) from Forms 4684, 6781, and 8824 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 8 of your Capital Loss Carryover Worksheet in the instructions 0.00 5 0.00 6 7 Net short-term capital gain or (loss). Combine lines 1a through 6 in column (h). If you have any long- PartI Long-Term Capital Gains and Losses-Assets Held More Than One Year See instructions for how to figure the amounts to enter on the term capital gains or losses, go to Part Il below. Otherwise, go to Part Ill on the back 5000 Gain or foss Subtract column (e from column id) and com tne the result wth lines below This form may be easier to complete if you round off cents tosales price whole dollars. to gain ar loss from Formisa 8949, Part ll, ine 2, column g er atter basis) 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 12000 25000.00 13000 8b Totals for all transactions reported on Form(s) 8949 with 9 Totals for all transactions reported on Form(s) 8949 with 10 Totals for all transactions reported on Form(s) 8949 with 11 Gain from Form 4797, Part l long-tem gain from Forms 2439 and 6252; and long-term gain or (loss) Box D checkec 12000 25000 13000.00) Box E checked Box F checked from Forms 4684, 6781, and 8824 0.00 12 Net long-term gain or (loss) from partnerships, S corporations, estates, and trusts from Schedule(s) K-1 12 0.00 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 13 0.00 Worksheet in the instructions. 14 15 Net long-term capital gain or (loss). Combine lines 8a through 14 in column (hi. Then go to Part Ill on the back 15 Schedule D (Form 1040) 2016 13000 For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 11338Schedule D (Form 1040) 2016 Page 2 PartIII Summary 16 Combine lines 7 and 15 and enter the result...... .. . .. ....16 If line 16 is a gain, enter the amount from line 16 on Form 1040, line 13, or Form 1040NR, line . If line 16 is a loss, skip lines 17 through 20 below. Then go to line 21. Also be sure to complete . If line 16 is zero, skip lines 17 through 21 below and enter -0- on Form 1040, line 13, or Form (8000.00) 14. Then go to line 17 below line 22 1040NR, line 14. Then go to line 22. 17 Are lines 15 and 16 both gains? Yes. Go to line 18. No. Skip lines 18 through 21, and go to line 22. 18 Enter the amount, if any, from line 7 of the 28% Rate Gain worksheet in the instructions | 18 1400 . . 19 Enter the amount, if any, from line 18 of the Unrecaptured Section 1250 Gain Worksheet in the 20 Are lines 18 and 19 both zero or blank? □ Yes. Complete the Qualified Dividends and Capital Gain Tax worksheet in the instructions for Form 1040, line 44 (or in the instructions for Form 1040NR, line 42). Dont complete lines 21 and 22 below No. Complete the Schedule D Tax Worksheet in the instructions. Dont complete lines 21 and 22 below 21 If line 16 is a loss, enter here and on Form 1040, line 13, or Form 1040NR, line 14, the smaller of: The loss on line 16 or 21 ($3,000), or if married filing separately, ($1,500) Note: When figuring which amount is smaller, treat both amounts as positive numbers. Do you have qualified dividends on Form 1040, line 9b, or Form 1040NR, line 10b? □ Yes. Complete the Qualified Dividends and Capital Gain Tax worksheet in the instructions 22 for Form 1040, line 44 (or in the instructions for Form 1040NR, line 42) No. Complete the rest of Form 1040 or Form 1040NR. Schedule D (Form 1040) 2016

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