Tax Return
Michael and Elizabeth Sandburg, age–76 and -58, are a married couple who had the following relevant transactions for 2019:
Social Security benefits for Michael. $39,000
Interest income from local bank 750
Qualified dividends 375
Loss on sale of Tandem Diabetic stock (held from
11/10/2018 to 10/31/2019) – 2,900
Federal income tax quarterly deposits (total). 3,800
Itemized deductions 24,125
SMALL BUSINESS OPERATIONS (Publication Sales)
Gross income 37,000
Supplies and products for sale 10,950
Business interest expense 1,200
Business property taxes 650
Insurance 260
Other business expense 2,845
Complete a Form 1040 with the appropriate Schedules and Forms for 2019 for Michael and Elizabeth Sandburg.
Minimum forms required:
Form 1040, Schedule 1, Schedule 2.
Form 1040, Schedule B, Schedule C, Schedule D, Schedule SE.
Form 8949, Form 8995.
Please complete the tax return based on the facts in the attached document. Make up any information that is not provided (i.e., Social Security numbers, addresses, etc.).
https://www.irs.gov/pub/irs-pdf/f1040.pdf (note for line 3, qualified dividends are included in ordinary dividends)
https://www.irs.gov/pub/irs-pdf/f1040s1.pdf
https://www.irs.gov/pub/irs-pdf/f1040s2.pdf
https://www.irs.gov/pub/irs-pdf/f1040sb.pdf
https://www.irs.gov/pub/irs-pdf/f1040sc.pdf
https://www.irs.gov/pub/irs-pdf/f1040sd.pdf
https://www.irs.gov/pub/irs-pdf/f1040sse.pdf
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