Full Income Tax Fundamentals 2018 36Th Edition Whittenburg Solutions Manual PDF

Income Tax Fundamentals 2018 36th
Edition Whittenburg Solutions Manual

Visit to download the full and correct content document: https://testbankdeal.com/dow
nload/income-tax-fundamentals-2018-36th-edition-whittenburg-solutions-manual/
CHAPTER 8
CAPITAL GAINS AND LOSSES
Group 1 – Multiple Choice Questions
1. E (LO 8.1) 12. B (LO 8.6, 8.7)

2. E (LO 8.1) 13. E (LO 8.7)
3. B (LO 8.2) 14. D (LO 8.8)
4. D ($5,000 + $1,600 + $1,200 + $12,000) (LO 8.3) 15. B (($120,000 – $90,000)
5. C ($35,000 + $32,500 – $55,000) / $120,000) x $30,000 (LO 8.9)
(LO 8.3) 16. B (LO 8.10)
6. B (LO 8.4) 17. C ($12,000 + $2,000)
7. B $9,946 + (0% x $3,400) + (15% x $50,600) (LO 8.10)
(LO 8.4) 18. E ($190,000 – $11,000 – $45,000)
8. B (10% x $18,650) + (15% x $11,350) – $250,000 exclusion (LO 8.12)
+ (15% x $45,900) + (25% x 19. B $300,000 – $25,000 – $250,000 exclusion
$4,100) (LO 8.4) (LO 8.12)
9. A $26,000. $29,000 – net capital loss 20. A $200,000 – $30,000 – $250,000 exclusion
limited to $3,000 (LO 8.4, 8.5) (LO 8.12)
10. B (LO 8.6) 21. A (LO 8.12)
11. C (LO 8.6, 8.7) 22. B ($550,000 – $350,000) –
(18/24 x $250,000) (LO 8.12)
Group 2 – Problems
1. a. $11,000 short-term capital gain = $26,000 – $15,000.

b. $11,000 long-term capital gain. (LO 8.1, 8.2, 8.3)
2. Sears stock $10,000 – $13,000 = $3,000 long-term capital loss

Home Depot stock $2,500 – $1,000 = $1,500 long-term capital gain
Net long-term capital loss = $1,500
Ford Motor bonds $35,000 – $30,000 = $5,000 short-term capital gain
$3,500 net short-term capital gain ($1,500 net long-term capital loss and $5,000 net short-term
capital gain). (LO 8.1, 8.2, 8.3)
3. See Schedule D and Form 8949 on pages 169 through 172. (LO 8.1, 8.2, 8.3, 8.5)
4. $672,500 = $750,000 + $60,000 – $137,500. (LO 8.3)
5. a. $3,500 gain = $12,500 – $9,000

b. $4,400 loss = $4,600 – $9,000. Note: since the fair market value of the gifted property exceeded
the basis of the property at the date of the gift, the recipient’s basis for gain and loss is the same
in both calculations. (LO 8.3)
6. See Form 4797 on pages 173 and 174. (LO 8.3, 8.6)
167
168 Chapter 8 – Capital Gains and Losses
7. a. $50,000 gain = $120,000 + $45,000 + $35,000 – $150,000.

b. See Form 6252 on page 175.
c. $1,515 = 30.3% (from Form 6252, Part II) x $5,000. (LO 8.3, 8.9)
8. a. $126,900 = $35,000 + $100,000 – $8,100.

b. $0 taxable gain; the $51,900 gain ($126,900 – $75,000) is excluded from taxable income.
(LO 8.3, 8.12)
9. a. $3,000. The amount of an individual taxpayer’s net capital losses which may be deducted against
ordinary income is limited to $3,000 annually.
b. $25,500 long-term capital loss carryforward = $27,000 – $1,500.
$0 short-term capital loss carryforward = $1,500 – $1,500.
c. The long-term loss may be carried forward indefinitely. (LO 8.5)
10. a. $20,000 = $37,000 – $17,000.

b. $37,000 = $20,000 + $17,000. The recomputed basis is equal to the adjusted basis plus the
Section 1245 recapture potential.
c. $5,000 = $25,000 – $20,000. The ordinary income under Section 1245 is equal to the lesser of
(1) the recomputed basis ($37,000) less the adjusted basis ($20,000); or (2) the amount realized
($25,000) less the adjusted basis ($20,000).
d. $0. The entire gain recognized of $5,000 ($25,000 – $20,000) is ordinary income. (LO 8.7)
11. $8,000 ordinary loss. Assuming this is the taxpayer’s only casualty gain or loss as a result of the
destruction of business or investment property, the loss on the destruction of the machine is an
ordinary loss. (LO 8.8)
12. $5,600 casualty loss, before considering the 10 percent of adjusted gross income limitation. The $5,600 loss
is computed as follows: $6,400 loss – $100 floor = $6,300 loss, plus $700 casualty gain on the second item
of personal property ($1,200 insurance proceeds – $500 adjusted basis). The loss is an itemized deduction,
subject to the 10 percent of adjusted gross income limitation. (LO 8.8)
13. a. $45,000. The gain recognized is equal to the lesser of the gain realized, $45,000 ($100,000 +
$50,000 + $15,000 – $120,000), or the boot received, $65,000 ($15,000 cash + $50,000 relief
of a liability).
b. $100,000 = $120,000 – $65,000 + $45,000. The basis of the property received is equal to the basis
of the property given up plus the boot paid ($0 in this case) less the boot received plus the gain
recognized. (LO 8.10)
14. a. $0. No gain is recognized since the amount of the insurance proceeds was fully reinvested.
b. $280,000 = $420,000 – $140,000 ($410,000 – $270,000). The basis is equal to the newly acquired
property’s cost reduced by the amount of the realized gain which is not recognized. (LO 8.11)
15. a. $47,000 realized gain ($148,000 – $9,000 – $7,000 – $85,000).

b. $0 recognized gain since he may exclude up to $250,000 from the sale of his personal residence.
c. $148,000 adjusted basis of new residence. (LO 8.12)
Solutions for Questions and Problems – Chapter 8 169
Group 2: Problem 3
SCHEDULE D OMB No. 1545-0074
(Form 1040) Capital Gains and Losses
Department of the Treasury a

a Attach to Form 1040 or Form 1040NR.
Go to www.irs.gov/ScheduleD for instructions and the latest information.
2017
Attachment
Internal Revenue Service (99) a Use Form 8949 to list your transactions for lines 1b, 2, 3, 8b, 9, and 10. Sequence No. 12
Name(s) shown on return Your social security number

Charu Khanna
DRAFT AS OF
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 (g) (h) Gain or (loss)
lines below. (d) (e) Adjustments Subtract column (e)
Proceeds Cost to gain or loss from from column (d) and
This form may be easier to complete if you round off cents to (sales price) (or other basis) Form(s) 8949, Part I, combine the result with
August 14, 2017

whole dollars. line 2, column (g) 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 .
DO NOT FILE
1b Totals for all transactions reported on Form(s) 8949 with
Box A checked . . . . . . . . . . . . . 73,000 80,000 (7,000)
2 Totals for all transactions reported on Form(s) 8949 with
Box B checked . . . . . . . . . . . . .
Box C checked . . . . . . . . . . . . .
4 Short-term gain from Form 6252 and short-term gain or (loss) from Forms 4684, 6781, and 8824 . 4
5 Net short-term gain or (loss) from partnerships, S corporations, estates, and trusts from
Schedule(s) K-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
6 Short-term capital loss carryover. Enter the amount, if any, from line 8 of your Capital Loss Carryover
Worksheet in the instructions . . . . . . . . . . . . . . . . . . . . . . . 6 ( )
7 Net short-term capital gain or (loss). Combine lines 1a through 6 in column (h). If you have any long-
term capital gains or
losses, go to Part II below. Otherwise, go to Part III on the back . . . . . 7 (7,000)
Part II Long-Term Capital Gains and Losses—Assets Held More Than One Year
This form may be easier to complete if you round off cents to (sales price) (or other basis) Form(s) 8949, Part II, combine the result with
8a Totals for all long-term transactions reported on Form

Box D checked . . . . . . . . . . . . . 30,000 25,000 5,000
Box E checked . . . . . . . . . . . . .
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 . . . . . . . . . . . . . . . . . . . . . . 11
12 Net long-term gain or (loss) from partnerships, S corporations, estates, and trusts from Schedule(s) K-1 12
13 Capital gain distributions. See the instructions . . . . . . . . . . . . . . . . . . 13

14 Long-term capital loss carryover. Enter the amount, if any, from line 13 of your Capital Loss Carryover
15 Net long-term capital gain or (loss). Combine lines 8a through 14 in column (h). Then go to Part III on
the back . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 5,000
For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 11338H Schedule D (Form 1040) 2017
Group 2: Problem 3, cont.

Schedule D (Form 1040) 2017 Charu Khanna Page 2
Part III Summary
16 Combine lines 7 and 15 and enter the result . . . . . . . . . . . . . . . . . . 16 (2,000)
• If line 16 is a gain, enter the amount from line 16 on Form 1040, line 13, or Form 1040NR, line
DRAFT AS OF
14. Then go to line 17 below.
• If line 16 is a loss, skip lines 17 through 20 below. Then go to line 21. Also be sure to complete
line 22.
• If line 16 is zero, skip lines 17 through 21 below and enter -0- on Form 1040, line 13, or Form
1040NR, line 14. Then go to line 22.
17
August 14, 2017

Are lines 15 and 16 both gains?
Yes. Go to line 18.
No. Skip lines 18 through 21, and go to line 22.
DO NOT FILE
18 If you are required to complete the 28% Rate Gain Worksheet (see instructions), enter the
amount, if any, from line 7 of that worksheet . . . . . . . . . . . . . . . . . a 18
19 If you are required to complete the Unrecaptured Section 1250 Gain Worksheet (see
instructions), enter the amount, if any, from line 18 of that worksheet . . . . . . . . . a 19
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). Don't complete lines
21 and 22 below.
No. Complete the Schedule D Tax Worksheet in the instructions. Don't 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

• ($3,000), or if married filing separately, ($1,500) } . . . . . . . . . . . . . . . 21 ( 2,000 )
Note: When figuring which amount is smaller, treat both amounts as positive numbers.
22 Do you have qualified dividends on Form 1040, line 9b, or Form 1040NR, line 10b?
for Form 1040, line 44 (or in the instructions for Form 1040NR, line 42).
x No. Complete the rest of Form 1040 or Form 1040NR.
Schedule D (Form 1040) 2017

8949 Sales and Other Dispositions of Capital Assets

OMB No. 1545-0074
2017
Form
a Go to www.irs.gov/Form8949 for instructions and the latest information.
Department of the Treasury Attachment
Internal Revenue Service a File with your Schedule D to list your transactions for lines 1b, 2, 3, 8b, 9, and 10 of Schedule D. Sequence No. 12A
Name(s) shown on return Social security number or taxpayer identification number
Charu Khanna
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
DRAFT AS OF
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 short term. For long-term
transactions, see page 2.
Note: You may aggregate all short-term transactions reported on Form(s) 1099-B showing basis was
August 11, 2017

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.
x (A) Short-term transactions reported on Form(s) 1099-B showing basis was reported to the IRS (see Note above)
DO NOT FILE
(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
Adjustment, if any, to gain or loss.
1 (e) If you enter an amount in column (g), (h)
(c) (d) Cost or other basis. enter a code in column (f). Gain or (loss).
(a) (b)
Date sold or Proceeds See the Note below See the separate instructions. Subtract column (e)
Description of property Date acquired
disposed of (sales price) and see Column (e) from column (d) and
(Example: 100 sh. XYZ Co.) (Mo., day, yr.) (f)
(Mo., day, yr.) (see instructions) in the separate (g) combine the result
instructions Code(s) from Amount of with column (g)
instructions adjustment
500 shares Gold Co. 02/12/17 09/15/17 54,000 62,000 (8,000)

100 shares Orange Co. 11/15/16 07/12/17 19,000 18,000 1,000
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) a 73,000 80,000 (7,000)
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 (2017)

Form 8949 (2017) Attachment Sequence No. 12A Page 2
Name(s) shown on return. Name and SSN or taxpayer identification no. not required if shown on other side Social security number or taxpayer identification number
Charu Khanna
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
Part II Long-Term. Transactions involving capital assets you held more than 1 year are long term. For short-term
DRAFT AS OF
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
August 11, 2017

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.
x (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
DO NOT FILE
(a) (b)
4,000 shares Green Co. 06/04/06 08/05/17 12,000 3,000 9,000
5,000 shares Blue Co. 02/04/07 10/08/17 18,000 22,000 (4,000)
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) a 30,000 25,000 5,000
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
Form 8949 (2017)
Group 2: Problem 6
4797 Sales of Business Property OMB No. 1545-0184
2017
Form
(Also Involuntary Conversions and Recapture Amounts
Under Sections 179 and 280F(b)(2))
Department of the Treasury Attach to your tax return.
a Attachment
Internal Revenue Service a Go to www.irs.gov/Form4797 for instructions and the latest information. Sequence No. 27
Name(s) shown on return Identifying number
Nadia Shalom 924-56-5783
DRAFT AS OF
1 Enter the gross proceeds from sales or exchanges reported to you for 2017 on Form(s) 1099-B or 1099-S (or
substitute statement) that you are including on line 2, 10, or 20. See instructions . . . . . . . . 1
Part I Sales or Exchanges of Property Used in a Trade or Business and Involuntary Conversions From Other
Than Casualty or Theft—Most Property Held More Than 1 Year (see instructions)
(e) Depreciation (f) Cost or other
August 22, 2017

(g) Gain or (loss)
2 (a) Description (b) Date acquired (c) Date sold (d) Gross allowed or basis, plus Subtract (f) from the
of property (mo., day, yr.) (mo., day, yr.) sales price allowable since improvements and sum of (d) and (e)
acquisition expense of sale
Office equipment 07/01/15 03/15/17 13,000 3,000 19,000 (3,000)

Land 02/01/06 04/19/17 124,000 0 138,000 (14,000)
DO NOT FILE
3 Gain, if any, from Form 4684, line 39 . . . . . . . . . . . . . . . . . . . . . . . . 3
4 Section 1231 gain from installment sales from Form 6252, line 26 or 37 . . . . . . . . . . . . . . 4
5 Section 1231 gain or (loss) from like-kind exchanges from Form 8824 . . . . . . . . . . . . . . 5
6 Gain, if any, from line 32, from other than casualty or theft . . . . . . . . . . . . . . . . . 6
7
Combine lines 2 through 6. Enter the gain or (loss) here and on the appropriate line as follows: . . . . . . . 7 (17,000)
Partnerships (except electing large partnerships) and S corporations. Report the gain or (loss) following the
instructions for Form 1065, Schedule K, line 10, or Form 1120S, Schedule K, line 9. Skip lines 8, 9, 11, and 12 below.
Individuals, partners, S corporation shareholders, and all others. If line 7 is zero or a loss, enter the amount from
line 7 on line 11 below and skip lines 8 and 9. If line 7 is a gain and you didn’t have any prior year section 1231
losses, or they were recaptured in an earlier year, enter the gain from line 7 as a long-term capital gain on the
Schedule D filed with your return and skip lines 8, 9, 11, and 12 below.
8 Nonrecaptured net section 1231 losses from prior years. See instructions . . . . . . . . . . . . . 8
9 Subtract line 8 from line 7. If zero or less, enter -0-. If line 9 is zero, enter the gain from line 7 on line 12 below. If line
9 is more than zero, enter the amount from line 8 on line 12 below and enter the gain from line 9 as a long-term

capital gain on the Schedule D filed with your return. See instructions . . . . . . . . . . . . . . 9
Part II Ordinary Gains and Losses (see instructions)
10 Ordinary gains and losses not included on lines 11 through 16 (include property held 1 year or less):
11
Loss, if any, from line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 ( 17,000 )
12 Gain, if any, from line 7 or amount from line 8, if applicable . . . . . . . . . . . . . . . . . 12
13 Gain, if any, from line 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
14 Net gain or (loss) from Form 4684, lines 31 and 38a . . . . . . . . . . . . . . . . . . . 14
15 Ordinary gain from installment sales from Form 6252, line 25 or 36 . . . . . . . . . . . . . . . 15
16 Ordinary gain or (loss) from like-kind exchanges from Form 8824. . . . . . . . . . . . . . . . 16
17
Combine lines 10 through 16 . . . . . . . . . . . . . . . . . . . . . . . . . . 17 (17,000)
18 For all except individual returns, enter the amount from line 17 on the appropriate line of your return and skip lines a
and b below. For individual returns, complete lines a and b below:
a If the loss on line 11 includes a loss from Form 4684, line 35, column (b)(ii), enter that part of the loss here. Enter the part
of the loss from income-producing property on Schedule A (Form 1040), line 28, and the part of the loss from property
used as an employee on Schedule A (Form 1040), line 23. Identify as from “Form 4797, line 18a.” See instructions . . 18a
b
Redetermine the gain or (loss) on line 17 excluding the loss, if any, on line 18a. Enter here and on Form 1040, line 14 18b (17,000)
For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 13086I Form 4797 (2017)

Form 4797 (2017) Page 2
Part III Gain From Disposition of Property Under Sections 1245, 1250, 1252, 1254, and 1255
(see instructions)
(b) Date acquired (c) Date sold (mo.,
19 (a) Description of section 1245, 1250, 1252, 1254, or 1255 property: (mo., day, yr.) day, yr.)
DRAFT AS OF
B
C
D
Property A Property B Property C Property D

These columns relate to the properties on lines 19A through 19D. a
20 Gross sales price (Note: See line 1 before completing.) . 20
August 22, 2017

21 Cost or other basis plus expense of sale . . . . . 21
22 Depreciation (or depletion) allowed or allowable . . . 22
23 Adjusted basis. Subtract line 22 from line 21 . . . . 23
24 Total gain. Subtract line 23 from line 20 . . . . . 24
DO NOT FILE
25 If section 1245 property:
a Depreciation allowed or allowable from line 22 . . . 25a
b Enter the smaller of line 24 or 25a . . . . . . 25b
26 If section 1250 property: If straight line depreciation was used,
enter -0- on line 26g, except for a corporation subject to section 291.
a Additional depreciation after 1975. See instructions . 26a
b Applicable percentage multiplied by the smaller of line
24 or line 26a. See instructions . . . . . . . 26b
c Subtract line 26a from line 24. If residential rental property
or line 24 isn’t more than line 26a, skip lines 26d and 26e 26c
d Additional depreciation after 1969 and before 1976 . . 26d
e Enter the smaller of line 26c or 26d . . . . . . 26e
f Section 291 amount (corporations only) . . . . . 26f
g Add lines 26b, 26e, and 26f. . . . . . . . . 26g
27 If section 1252 property: Skip this section if you didn’t
dispose of farmland or if this form is being completed for a
partnership (other than an electing large partnership).
a Soil, water, and land clearing expenses . . . . . 27a
b Line 27a multiplied by applicable percentage. See instructions 27b
c Enter the smaller of line 24 or 27b . . . . . . 27c
a Intangible drilling and development costs, expenditures
for development of mines and other natural deposits,
mining exploration costs, and depletion. See
instructions . . . . . . . . . . . . . 28a
b Enter the smaller of line 24 or 28a . . . . . . 28b
a Applicable percentage of payments excluded from
income under section 126. See instructions . . . . 29a
b Enter the smaller of line 24 or 29a. See instructions . 29b
Summary of Part III Gains. Complete property columns A through D through line 29b before going to line 30.
30 Total gains for all properties. Add property columns A through D, line 24 . . . . . . . . . . . . . 30
31 Add property columns A through D, lines 25b, 26g, 27c, 28b, and 29b. Enter here and on line 13 . . . . . . 31
32 Subtract line 31 from line 30. Enter the portion from casualty or theft on Form 4684, line 33. Enter the portion from
other than casualty or theft on Form 4797, line 6 . . . . . . . . . . . . . . . . . . . . 32
Part IV Recapture Amounts Under Sections 179 and 280F(b)(2) When Business Use Drops to 50% or Less
(see instructions)
(a) Section (b) Section
179 280F(b)(2)
33 Section 179 expense deduction or depreciation allowable in prior years. . . . . . . . 33
34 Recomputed depreciation. See instructions . . . . . . . . . . . . . . . . 34
35 Recapture amount. Subtract line 34 from line 33. See the instructions for where to report . . 35
Form 4797 (2017)
Group 2: Problem 7
Form 6252 Installment Sale Income

a Attach to your tax return.
OMB No. 1545-0228
2017
Department of the Treasury a Use a separate form for each sale or other disposition of property on the installment method.
Attachment
Internal Revenue Service a Go to www.irs.gov/Form6252 for the latest information. Sequence No. 79
Steve Drake
1 Rental
Description of property a Property
2a Date acquired (mm/dd/yyyy) a b Date sold (mm/dd/yyyy) a 01/01/2017
3 Was the property sold to a related party (see instructions) after May 14, 1980? If “No,” skip line 4 . . . . . Yes x No
4 Was the property you sold to a related party a marketable security? If “Yes,” complete Part III. If “No,”
complete Part III for the year of sale and the 2 years after the year of sale . . . . . . . . . . . . . Yes No
Part I Gross Profit and Contract Price. Complete this part for the year of sale only.
5 Selling price including mortgages and other debts. Don’t include interest, whether stated or unstated 5 200,000
6 Mortgages, debts, and other liabilities the buyer assumed or took the
property subject to (see instructions) . . . . . . . . . . . 6 35,000
7 Subtract line 6 from line 5 . . . . . . . . . . . . . . . 7 165,000
8 Cost or other basis of property sold . . . . . . . . . . . 8 180,000
9 Depreciation allowed or allowable . . . . . . . . . . . . 9 30,000
10 Adjusted basis. Subtract line 9 from line 8 . . . . . . . . . 10 150,000
11 Commissions and other expenses of sale . . . . . . . . . 11
12 Income recapture from Form 4797, Part III (see instructions) . . . 12
13 Add lines 10, 11, and 12 . . . . . . . . . . . . . . . . . . . . . . . . . 13 150,000
14 Subtract line 13 from line 5. If zero or less, don’t complete the rest of this form (see instructions) . 14 50,000
15 If the property described on line 1 above was your main home, enter the amount of your excluded
gain (see instructions). Otherwise, enter -0- . . . . . . . . . . . . . . . . . . . 15 0
16 Gross profit. Subtract line 15 from line 14 . . . . . . . . . . . . . . . . . . . 16 50,000
17 Subtract line 13 from line 6. If zero or less, enter -0- . . . . . . . . . . . . . . . . 17 0
18 Contract price. Add line 7 and line 17 . . . . . . . . . . . . . . . . . . . . 18 165,000
Part II Installment Sale Income. Complete this part for the year of sale and any year you receive a payment or have
certain debts you must treat as a payment on installment obligations.
19 Gross profit percentage (expressed as a decimal amount). Divide line 16 by line 18. (For years
after the year of sale, see instructions) . . . . . . . . . . . . . . . . . . . . 19 .303
20 If this is the year of sale, enter the amount from line 17. Otherwise, enter -0- . . . . . . . . 20 0
21 Payments received during year (see instructions). Don’t include interest, whether stated or unstated . 21 120,000
22 Add lines 20 and 21 . . . . . . . . . . . . . . . . . . . . . . . . . . 22 120,000
23 Payments received in prior years (see instructions). Don’t include
interest, whether stated or unstated . . . . . . . . . . . 23 0
24 Installment sale income. Multiply line 22 by line 19 . . . . . . . . . . . . . . . . 24 36,360
25 Enter the part of line 24 that is ordinary income under the recapture rules (see instructions) . . . 25 0
26 Subtract line 25 from line 24. Enter here and on Schedule D or Form 4797 (see instructions) . . . 26 36,360
Part III Related Party Installment Sale Income. Don’t complete if you received the final payment this tax year.
27 Name, address, and taxpayer identifying number of related party
28 Did the related party resell or dispose of the property (“second disposition”) during this tax year? . . . . . Yes No
29 If the answer to question 28 is “Yes,” complete lines 30 through 37 below unless one of the following conditions is met. Check the box that applies.
a The second disposition was more than 2 years after the first disposition (other than dispositions
of marketable securities). If this box is checked, enter the date of disposition (mm/dd/yyyy) . . . a
b The first disposition was a sale or exchange of stock to the issuing corporation.
c The second disposition was an involuntary conversion and the threat of conversion occurred after the first disposition.
d The second disposition occurred after the death of the original seller or buyer.
e It can be established to the satisfaction of the IRS that tax avoidance wasn’t a principal purpose for either of the
dispositions. If this box is checked, attach an explanation (see instructions).
30 Selling price of property sold by related party (see instructions) . . . . . . . . . . . . 30
31 Enter contract price from line 18 for year of first sale . . . . . . . . . . . . . . . . 31
32 Enter the smaller of line 30 or line 31 . . . . . . . . . . . . . . . . . . . . . 32
33 Total payments received by the end of your 2017 tax year (see instructions) . . . . . . . . 33
34 Subtract line 33 from line 32. If zero or less, enter -0- . . . . . . . . . . . . . . . 34
35 Multiply line 34 by the gross profit percentage on line 19 for year of first sale . . . . . . . . 35
36 Enter the part of line 35 that is ordinary income under the recapture rules (see instructions) . . . 36
37 Subtract line 36 from line 35. Enter here and on Schedule D or Form 4797 (see instructions) . . . 37
For Paperwork Reduction Act Notice, see page 4. Cat. No. 13601R Form 6252 (2017)
16. $304,000 realized gain = $368,000 – $22,000 – $42,000.

$54,000 recognized gain = $304,000 less the $250,000 exclusion.
$175,000 cost of the new residence. (LO 8.12)
17. Section 1033(a) is not reproduced here.
18. See the answer to Problem 7.
Group 3 – Writing Assignment
1. Research Solution:
Whittenburg and Gill CPAs
San Diego, CA
April 13, 20xx
Relevant Facts
Owen and Lisa Cordoncillo exchanged business pickup trucks in May 2017. Owen and Lisa are brother
and sister. Lisa gave a blue pickup truck with an adjusted basis of $2,000 and a fair market value of $6,000
in exchange for a red pickup truck from Owen. Owen’s red pickup truck at the time of the exchange had
a fair market value of $5,500 and an adjusted basis of $2,500. In addition, Owen gave Lisa $500 cash. The
following March, Owen sold the blue pickup truck to a third party for $5,800.
Specific Issues
What are the amounts of Owen and Lisa’s gain recognition for 2017? What are the effects, if any, of the
sale in 2018?
Conclusions
In 2017, Owen will have a $3,000 gain realized on the exchange of which $0 will be recognized. Lisa will
have a $4,000 gain realized of which $500, the amount received in cash, will be recognized.
The sale in 2018 causes disqualification from nonrecognition treatment. Owen will be required to recog-
nize the $3,000 gain deferred from 2017 and Lisa will recognize the remaining gain of $3,500. In addition,
Owen will have to report any additional gain or loss from the sale of the truck.
Support
Exchanges of like-kind property, such as the exchange of business trucks, generally qualify as a nontaxable
exchange. The parties involved would recognize gain in an amount equal to the lesser of (1) the gain
realized or (2) the “boot” received. In 2017, Owen would have a $3,000 gain realized ($6,000 – $500 –
$2,500) and $0 “boot” received. His gain recognition in 2017 would therefore be $0. Lisa would have a
$4,000 gain realized ($5,500 + $500 – $2,000) and $500 “boot” received. Her 2017 gain recognition would
be $500, the amount of the “boot” received.
According to IRS Publication 544, special rules apply when related parties are involved. In this
case, since Owen and Lisa are brother and sister, they are considered to be related parties. Like-kind
exchanges between related parties can be disqualified if, within 2 years after the exchange, either party
disposes of the exchanged property. This disqualification can cause gain recognition of the previously
deferred amount.
In 2018, when Owen sells the truck, he causes automatic disqualification of the like-kind exchange for
both Lisa and himself. Owen will be required to recognize immediately the amount of gain deferred
in 2017, $3,000. Lisa will also have to recognize the 2017 gain deferred of $3,500 ($4,000 – $500).
In addition, Owen will be required to recognize any additional gain or loss from the sale of the
truck in 2018.
Actions to Be Taken
Review results with client.
Preparer: Trevor Malcolm
Reviewer: Martha Altus-Buller
2. Ethics Solution:
It is a big deal. Lisa is legally required to report the actual date sold. Reporting the stock sold on the
fictitious day would cause an understatement in her tax liability and, if discovered, would be subject
to fines, penalties, and interest. Should she choose to report the date sold as July 12, she would be
submitting a falsified tax return. By signing the falsified tax return, Lisa is committing perjury. If
Lisa is your client, you should explain to her that you will have to withdraw from the engagement
unless the return is prepared correctly.
Group 4 – Comprehensive Problems
1. See Form 1040, Schedules A, B, D, Form 8949, and Qualified Dividends and Capital Gain Tax
Worksheet on pages 179 through 187.
2. See Form 1040, Schedules A, B, D, Form 8949, Qualified Dividends and Capital Gain Tax Worksheet,
and Form 6252 on pages 188 through 196.
Group 5 – Cumulative Software Problem
The solution to the Cumulative Software Problem is posted on the website for the textbook at
www.cengage.com/login.
Comprehensive Problem 1
1040 Department of the Treasury—Internal Revenue Service (99)

2017
Form
U.S. Individual Income Tax Return OMB No. 1545-0074 IRS Use Only—Do not write or staple in this space.
For the year Jan. 1–Dec. 31, 2017, or other tax year beginning , 2017, ending , 20 See separate instructions.
Your first name and initial Last name Your social security number
America Los Rios 976 23 5132

If a joint return, spouse’s first name and initial Last name Spouse’s social security number
DRAFT AS OF
Home address (number and street). If you have a P.O. box, see instructions. Apt. no. Make sure the SSN(s) above
c
4700 Oak Drive and on line 6c are correct.
City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Presidential Election Campaign
Sacramento, CA 95841 Check here if you, or your spouse if filing

jointly, want $3 to go to this fund. Checking
Foreign country name Foreign province/state/county Foreign postal code
a box below will not change your tax or
August 15, 2017

refund. Youx Spouse
Filing Status 1 x Single 4 Head of household (with qualifying person). (See instructions.)
2 Married filing jointly (even if only one had income) If the qualifying person is a child but not your dependent, enter this
Check only one 3 Married filing separately. Enter spouse’s SSN above child’s name here. a
box. and full name here. a 5 Qualifying widow(er) (see instructions)
x
}
DO NOT FILE
6a Yourself. If someone can claim you as a dependent, do not check box 6a . . . . . Boxes checked
Exemptions on 6a and 6b 1
b Spouse . . . . . . . . . . . . . . . . . . . . . . . . No. of children
c Dependents: (2) Dependent’s (3) Dependent’s (4) if child under age 17 on 6c who:
qualifying for child tax credit • lived with you
(1) First name Last name social security number relationship to you
(see instructions) • did not live with
you due to divorce
or separation
If more than four (see instructions)
dependents, see Dependents on 6c
instructions and not entered above
check here a
d Total number of exemptions claimed . . . . . . . . . . . . . . . . .
Add numbers on
lines above a
1
Income 7 Wages, salaries, tips, etc. Attach Form(s) W-2 . . . . . . . . . . . . 7 69,300
8a Taxable interest. Attach Schedule B if required . . . . . . . . . . . . 8a 5,100
b Tax-exempt interest. Do not include on line 8a . . . 8b
Attach Form(s)
W-2 here. Also
9a Ordinary dividends. Attach Schedule B if required . . . . . . . . . . . 9a 4,500
attach Forms b Qualified dividends . . . . . . . . . . . 9b 4,500
W-2G and 10 Taxable refunds, credits, or offsets of state and local income taxes . . . . . . 10
1099-R if tax 11 Alimony received . . . . . . . . . . . . . . . . . . . . . 11
was withheld.
12 Business income or (loss). Attach Schedule C or C-EZ . . . . . . . . . . 12
13 Capital gain or (loss). Attach Schedule D if required. If not required, check here a 13 4,600
If you did not 14 Other gains or (losses). Attach Form 4797 . . . . . . . . . . . . . . 14
get a W-2,
see instructions. 15a IRA distributions . 15a b Taxable amount . . . 15b
16a Pensions and annuities 16a b Taxable amount . . . 16b
17 Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E 17
18 Farm income or (loss). Attach Schedule F . . . . . . . . . . . . . . 18
19 Unemployment compensation . . . . . . . . . . . . . . . . . 19
20a Social security benefits 20a b Taxable amount . . . 20b
21 Other income. List type and amount 21
22 Combine the amounts in the far right column for lines 7 through 21. This is your total income a 22 83,500
23 Educator expenses . . . . . . . . . . . 23
Adjusted 24 Certain business expenses of reservists, performing artists, and
Gross fee-basis government officials. Attach Form 2106 or 2106-EZ 24
Income 25 Health savings account deduction. Attach Form 8889 . 25
26 Moving expenses. Attach Form 3903 . . . . . . 26
27 Deductible part of self-employment tax. Attach Schedule SE . 27
28 Self-employed SEP, SIMPLE, and qualified plans . . 28
29 Self-employed health insurance deduction . . . . 29
30 Penalty on early withdrawal of savings . . . . . . 30
31a Alimony paid b Recipient’s SSN a 31a
32 IRA deduction . . . . . . . . . . . . . 32
33 Student loan interest deduction . . . . . . . . 33
34 Reserved for future use . . . . . . . . . . 34
35 Domestic production activities deduction. Attach Form 8903 35
36 Add lines 23 through 35 . . . . . . . . . . . . . . . . . . . 36
37 Subtract line 36 from line 22. This is your adjusted gross income . . . . . a 37 83,500
For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Cat. No. 11320B Form 1040 (2017)
Comprehensive Problem 1, cont.

Form 1040 (2017) America Los Rios 976-23-5132 Page 2
38 Amount from line 37 (adjusted gross income) . . . 83,500
. . . . . . . . . . . 38
Tax and
Credits
39a Check
if:
{ You were born before January 2, 1953,
Spouse was born before January 2, 1953,
Blind.
Blind.
} Total boxes
checked a 39a
b If your spouse itemizes on a separate return or you were a dual-status alien, check here a 39b
Standard 40 Itemized deductions (from Schedule A) or your standard 14,750 deduction (see left margin) . . 40
. . . . . . . . 68,750
Deduction
for— 41 Subtract line 40 from line 38 . . . . . . . . . . . 41
4,050
DRAFT AS OF
• People who 42 Exemptions. If line 38 is $156,900 or less, multiply $4,050 by the number on line 6d. Otherwise, see instructions 42
Taxable income. Subtract line 42 from line 41. If line 42 is 64,700
check any
box on line 43 more than line 41, enter -0- . . 43
39a or 39b or 44 Tax (see instructions). Check if any from: a Form(s) 8814 11,020
b Form 4972 c 44
who can be
claimed as a 45 Alternative minimum tax (see instructions). Attach Form 6251 . . 45
. . . . . . .
dependent,
see 46 Excess advance premium tax credit repayment. Attach Form 8962 . 46
. . . . . . .
instructions. 47 Add lines 44, 45, and 46 . . . . . . . . . 11,020
. . . . . . . . . . a 47
August 15, 2017

• All others:
48 Foreign tax credit. Attach Form 1116 if required . . . . 48
Single or
Married filing 49 Credit for child and dependent care expenses. Attach Form 2441 49
separately,
$6,350 50 Education credits from Form 8863, line 19 . . . . . 50
Married filing 51 Retirement savings contributions credit. Attach Form 8880 51
jointly or
Qualifying 52 Child tax credit. Attach Schedule 8812, if required . . . 52
widow(er),
DO NOT FILE
$12,700 53 Residential energy credit. Attach Form 5695 . . . . . 53
Head of 54 Other credits from Form: a 3800 b 8801 c 54
household,
$9,350 55 Add lines 48 through 54. These are your total credits . . . . . . . . . . . . 55 0
56 Subtract line 55 from line 47. If line 55 is more than line 47, 11,020
enter -0- . . . . . . a 56
57 Self-employment tax. Attach Schedule SE . . . . . . . . . . . . . . . 57
Other 58 Unreported social security and Medicare tax from Form: a 4137 b 8919 . . 58
59 Additional tax on IRAs, other qualified retirement plans, etc. Attach Form 5329 if required . . 59
Taxes 60a Household employment taxes from Schedule H . . . . . . . . . . . . . . 60a
b First-time homebuyer credit repayment. Attach Form 5405 if required . . . . . . . . 60b
61 Health care: individual responsibility (see instructions) Full-year coverage x . . . . . 61
62 Taxes from: a Form 8959 b Form 8960 c Instructions; enter code(s) 62
63 Add lines 56 through 62. This is your total tax . . . 11,020 . . . . . . . . . . a 63
Payments 64 Federal income tax withheld from Forms W-2 and 1099 . . 64 14,800
65 2017 estimated tax payments and amount applied from 2016 return 65
If you have a
66a Earned income credit (EIC) . . . . . . . . . . 66a
qualifying
child, attach b Nontaxable combat pay election 66b
Schedule EIC. 67 Additional child tax credit. Attach Schedule 8812 . . . . . 67
68 American opportunity credit from Form 8863, line 8 . . . 68
69 Net premium tax credit. Attach Form 8962 . . . . . . 69
70 Amount paid with request for extension to file . . . . . 70
71 Excess social security and tier 1 RRTA tax withheld 71 . . . .
72 Credit for federal tax on fuels. Attach Form 4136 72 . . . .
73 Credits from Form: a 2439 b Reserved c 8885 d 73
74 14,800
Add lines 64, 65, 66a, and 67 through 73. These are your total payments . . . . . a 74
Refund 75 3,780
If line 74 is more than line 63, subtract line 63 from line 74. This is the amount you overpaid 75
76a Amount of line 75 you want refunded to you. If Form 8888 3,780
is attached, check here . a 76a
Direct deposit?
a bRouting number a c Type: Checking Savings
See a dAccount number
instructions.
77 Amount of line 75 you want applied to your 2018 estimated tax a 77
Amount 78 Amount you owe. Subtract line 74 from line 63. For details on how to pay, see instructions a 78
You Owe 79 Estimated tax penalty (see instructions) . . . . . . . 79
Third Party Do you want to allow another person to discuss this return with the IRS (see instructions)? Yes. Complete below. No
Designee’s Phone Personal identification
Designee name a no. a number (PIN) a
Sign 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
accurately list all amounts and sources of income I received during the tax year. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Here Your signature Date Your occupation Daytime phone number
Supermarket Manager
F
Joint return? See

instructions.
Keep a copy for Spouse’s signature. If a joint return, both must sign. Date Spouse’s occupation If the IRS sent you an Identity Protection
your records. PIN, enter it
here (see inst.)
Print/Type preparer’s name Preparer’s signature Date PTIN
Paid Check if
self-employed
Preparer
Firm’s name Firm’s EIN
Use Only
a a
Firm’s address a Phone no.

Go to www.irs.gov/Form1040 for instructions and the latest information. Form 1040 (2017)

SCHEDULE A OMB No. 1545-0074
(Form 1040) Itemized Deductions
Department of the Treasury
a Go to www.irs.gov/ScheduleA for instructions and the latest information. 2017
Attachment
Internal Revenue Service (99) a Attach to Form 1040. Sequence No. 07
Name(s) shown on Form 1040 Your social security number
America Los Rios 976-23-5132

Caution: Do not include expenses reimbursed or paid by others.
DRAFT AS OF
Medical
and 1,440
1 Medical and dental expenses (see instructions) . . . . . 1
Dental 2 Enter amount from Form 1040, line 38 2 83,500
Expenses 8,350
3 Multiply line 2 by 10% (0.10) . . . . . . . . . . . . 3
0
4 Subtract line 3 from line 1. If line 3 is more than line 1, enter -0- . . . . . . . . 4
Taxes You 5 State and local (check only one box):
July 18, 2017

a x Income taxes, or
Paid 2,350
b General sales taxes }
. . . . . . . . . . . 5
1,150
6 Real estate taxes (see instructions) . . . . . . . . . 6
7 Personal property taxes . . . . . . . . . . . . . 7
8 Other taxes. List type and amount a
DO NOT FILE
8
3,500
9 Add lines 5 through 8 . . . . . . . . . . . . . . . . . . . . . . 9
Interest 10,700
10 Home mortgage interest and points reported to you on Form 1098 10
You Paid 11 Home mortgage interest not reported to you on Form 1098. If paid
to the person from whom you bought the home, see instructions
Note: and show that person’s name, identifying no., and address a
Your mortgage
interest
deduction may 11
be limited (see 12 Points not reported to you on Form 1098. See instructions for
instructions). special rules . . . . . . . . . . . . . . . . . 12
13 Reserved . . . . . . . . . . . . . . . . . . 13
14 Investment interest. Attach Form 4952 if required. See instructions. 14
10,700
15 Add lines 10 through 14 . . . . . . . . . . . . . . . . . . . . . 15
Gifts to 16 Gifts by cash or check. If you made any gift of $250 or more,
Charity 550 see instructions . . . . . . . . . . . . . . . . 16
If you made a 17 Other than by cash or check. If any gift of $250 or more, see
gift and got a instructions. You must attach Form 8283 if over $500 . . . 17
benefit for it, 18 Carryover from prior year . . . . . . . . . . . . 18
550
see instructions.
Casualty and

Theft Losses 20 Casualty or theft loss(es). Attach Form 4684. See instructions . . . . . . . . 20
Job Expenses 21 Unreimbursed employee expenses—job travel, union dues,
and Certain job education, etc. Attach Form 2106 or 2106-EZ if required.
Miscellaneous See instructions. a 21
Deductions 22 Tax preparation fees . . . . . . . . . . . . . 22 250
23 Other expenses—investment, safe deposit box, etc. List type
and amount a
23
250
24 Add lines 21 through 23 . . . . . . . . . . . . 24
25 Enter amount from Form 1040, line 38 25 83,500

26 Multiply line 25 by 2% (0.02) . . . . . . . . . . 26 1,670
0
27 Subtract line 26 from line 24. If line 26 is more than line 24, enter -0- . . . . . . 27
Other 28 Other—from list in instructions. List type and amount a
Miscellaneous
Deductions 28
Total 29 Is Form 1040, line 38, over $156,900?
x No. Your deduction is not limited. Add the amounts in the far right column
}
Itemized
14,750
Deductions for lines 4 through 28. Also, enter this amount on Form 1040, line 40. . . 29
Yes. Your deduction may be limited. See the Itemized Deductions
Worksheet in the instructions to figure the amount to enter.
30 If you elect to itemize deductions even though they are less than your standard
deduction, check here . . . . . . . . . . . . . . . . . . . a
For Paperwork Reduction Act Notice, see the Instructions for Form 1040. Cat. No. 17145C Schedule A (Form 1040) 2017

SCHEDULE B OMB No. 1545-0074
Interest and Ordinary Dividends
2017
(Form 1040A or 1040)
a Attach to Form 1040A or 1040.
Department of the Treasury a Go
Attachment
Internal Revenue Service (99) to www.irs.gov/ScheduleB for instructions and the latest information. Sequence No. 08
Part I Amount
DRAFT AS OF
1 List name of payer. If any interest is from a seller-financed mortgage and the
buyer used the property as a personal residence, see the instructions and list this
Interest interest first. Also, show that buyer’s social security number and address a
(See instructions Bank of Sacramento 5,100
and the
instructions for
July 10, 2017

Form 1040A, or
Form 1040,
line 8a.)
1
Note: If you
received a Form
1099-INT, Form
1099-OID, or
DO NOT FILE
substitute
statement from
a brokerage firm,
list the firm’s
name as the
payer and enter
the total interest
shown on that
form. 2 Add the amounts on line 1 .
. . . . . . . . . . . . . . . . . . 2 5,100
3
Excludable interest on series EE and I U.S. savings bonds issued after 1989.
Attach Form 8815 . . . . . . . . . . . . . . . . . . . . . . 3
4 Subtract line 3 from line 2. Enter the result here and on Form 1040A, or Form
1040, line 8a . . . . . . . . . . . . . . . . . . . . . . a 4 5,100
Note: If line 4 is over $1,500, you must complete Part III. Amount
Part II 5 List name of payer a
American River Corporation 4,500
Ordinary
Dividends
(See instructions
and the
instructions for
Form 1040A, or
Form 1040, 5
line 9a.)
Note: If you
received a Form
1099-DIV or
substitute
statement from
a brokerage firm,
list the firm’s
name as the
payer and enter
the ordinary
dividends shown
6 Add the amounts on line 5. Enter the total here and on Form 1040A, or Form
on that form. 1040, line 9a . . . . . . . . . . . . . . . . . . . . . . a 6 4,500
Note: If line 6 is over $1,500, you must complete Part III.
Part III You must complete this part if you (a) had over $1,500 of taxable interest or ordinary dividends; (b) had a
Yes No
foreign account; or (c) received a distribution from, or were a grantor of, or a transferor to, a foreign trust.
Foreign 7a At any time during 2017, did you have a financial interest in or signature authority over a financial
Accounts account (such as a bank account, securities account, or brokerage account) located in a foreign
country? See instructions . . . . . . . . . . . . . . . . . . . . . . . .
and Trusts
If “Yes,” are you required to file FinCEN Form 114, Report of Foreign Bank and Financial
Accounts (FBAR), to report that financial interest or signature authority? See FinCEN Form 114
(See instructions.)
and its instructions for filing requirements and exceptions to those requirements . . . . . . x
b If you are required to file FinCEN Form 114, enter the name of the foreign country where the
financial account is located a

8 During 2017, did you receive a distribution from, or were you the grantor of, or transferor to, a
foreign trust? If “Yes,” you may have to file Form 3520. See instructions . . . . . . . . . x
For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 17146N Schedule B (Form 1040A or 1040) 2017


2017
Attachment

DRAFT AS OF
August 14, 2017


DO NOT FILE
Box A checked . . . . . . . . . . . . . 10,100 10,000 100

Box B checked . . . . . . . . . . . . .
Box C checked . . . . . . . . . . . . .
Schedule(s) K-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

term capital gains or losses, go to Part II below. Otherwise, go to Part III on the back . . . . . 7 100


Box D checked . . . . . . . . . . . . . 17,800 13,300 4,500
Box E checked . . . . . . . . . . . . .
Box F checked . . . . . . . . . . . . . .
from Forms 4684, 6781, and 8824 . . . . . . . . . . . . . . . . . . . . . . 11
12 Net long-term gain

or (loss) from partnerships, S corporations, estates, and trusts from Schedule(s) K-1 12

the back . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 4,500

Schedule D (Form 1040) 2017 Page 2
Part III Summary
16 Combine lines 7 and 15 and enter the result . . . . . . . . . . . . . . . . . . 16 4,600
DRAFT AS OF
line 22.
17
August 14, 2017

x Yes. Go to line 18.
DO NOT FILE
amount, if any, from line 7 of that worksheet . . . . . . . . . . . . . . . . . a 18 0
instructions), enter the amount, if any, from line 18 of that worksheet . . . . . . . . . a 19 0

x Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions
21 and 22 below.
and 22 below.

• ($3,000), or if married filing separately, ($1,500) } . . . . . . . . . . . . . . . 21 ( )
No. Complete the rest of Form 1040 or Form 1040NR.


OMB No. 1545-0074
2017
Form
DRAFT AS OF
August 11, 2017

DO NOT FILE
(a) (b)
Green Co. 06/11/17 08/03/17 3,800 5,000 (1,200)

Blue Co. 12/12/16 09/22/17 6,300 5,000 1,300
above is checked), or line 3 (if Box C above is checked) a 10,100 10,000 100

Form 8949 (2017) Attachment Sequence No. 12A Page 2
Name(s) shown on return. Name and SSN or taxpayer identification no. not required if shown on other side 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
Part II Long-Term. Transactions involving capital assets you held more than 1 year are long term. For short-term
DRAFT AS OF
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
August 11, 2017

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.
x (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
DO NOT FILE
(a) (b)
Red Co. 02/01/07 10/05/17 5,300 2,500 2,800

White Co. 05/12/06 10/15/17 7,000 4,000 3,000
Black Co. 09/15/10 11/01/17 5,500 6,800 (1,300)
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) a 17,800 13,300 4,500
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
Form 8949 (2017)
DRAFT AS OF 4,500
64,700
October 7, 2016
X
4,500
9,000
0
9,000
55,700
37,950
37,950
37,950
0
9,000
0
9,000
418,400
64,700
55,700
9,000
9,000
1,350
9,000
0
0
9,670
11,020
11,920
11,020
1040 Department of the Treasury—Internal Revenue Service (99)

2017
Form
U.S. Individual Income Tax Return OMB No. 1545-0074 IRS Use Only—Do not write or staple in this space.
For the year Jan. 1–Dec. 31, 2017, or other tax year beginning , 2017, ending , 20 See separate instructions.
Your first name and initial Last name Your social security number
Lisa Kohl 467 98 9784

If a joint return, spouse’s first name and initial Last name Spouse’s social security number
DRAFT AS OF
Home address (number and street). If you have a P.O. box, see instructions. Apt. no. Make sure the SSN(s) above
c
212 Quivira Road and on line 6c are correct.
City, town or post office, state, and ZIP code. If you have a foreign address, also complete spaces below (see instructions). Presidential Election Campaign
Overland Park, KS 66210 Check here if you, or your spouse if filing
jointly, want $3 to go to this fund. Checking
Foreign country name Foreign province/state/county Foreign postal code
a box below will not change your tax or
August 15, 2017

refund. Youx Spouse
Filing Status 1 x Single 4 Head of household (with qualifying person). (See instructions.)
2 Married filing jointly (even if only one had income) If the qualifying person is a child but not your dependent, enter this
Check only one 3 Married filing separately. Enter spouse’s SSN above child’s name here. a
box. and full name here. a 5 Qualifying widow(er) (see instructions)
x
}
DO NOT FILE
Exemptions 6a Yourself. If someone can claim you as a dependent, do not check box 6a . . . . . Boxes checked
on 6a and 6b 1
b Spouse . . . . . . . . . . . . . . . . . . . . . . . . No. of children
c Dependents: (2) Dependent’s (3) Dependent’s (4) if child under age 17 on 6c who:
qualifying for child tax credit • lived with you
(1) First name Last name social security number relationship to you
(see instructions) • did not live with
you due to divorce
or separation
If more than four (see instructions)
dependents, see Dependents on 6c
instructions and not entered above
check here a
d Total number of exemptions claimed . . . . . . . . . . . . . . . . .
Add numbers on 1
lines above a
Income 7 Wages, salaries, tips, etc. Attach Form(s) W-2 . . . . . . . . . . . . 7 55,800

8a Taxable interest. Attach Schedule B if required . . . . . . . . . . . . 8a 200
b Tax-exempt interest. Do not include on line 8a . . . 8b
Attach Form(s)
W-2 here. Also
9a Ordinary dividends. Attach Schedule B if required . . . . . . . . . . . 9a 4,075
attach Forms b Qualified dividends . . . . . . . . . . . 9b 4,075
W-2G and 10 Taxable refunds, credits, or offsets of state and local income taxes . . . . . . 10
1099-R if tax 11 Alimony received . . . . . . . . . . . . . . . . . . . . . 11
was withheld.
12 Business income or (loss). Attach Schedule C or C-EZ . . . . . . . . . . 12
13 Capital gain or (loss). Attach Schedule D if required. If not required, check here a 13 (3,000)
If you did not 14 Other gains or (losses). Attach Form 4797 . . . . . . . . . . . . . . 14
get a W-2,
see instructions. 15a IRA distributions . 15a b Taxable amount . . . 15b
16a Pensions and annuities 16a b Taxable amount . . . 16b
17 Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E 17
18 Farm income or (loss). Attach Schedule F . . . . . . . . . . . . . . 18
19 Unemployment compensation . . . . . . . . . . . . . . . . . 19
20a Social security benefits 20a b Taxable amount . . . 20b
21 Other income. List type and amount 21
22 Combine the amounts in the far right column for lines 7 through 21. This is your total income a 22 57,075
23 Educator expenses . . . . . . . . . . . 23
Adjusted 24 Certain business expenses of reservists, performing artists, and
Gross fee-basis government officials. Attach Form 2106 or 2106-EZ 24
Income 25 Health savings account deduction. Attach Form 8889 . 25
26 Moving expenses. Attach Form 3903 . . . . . . 26
27 Deductible part of self-employment tax. Attach Schedule SE . 27
28 Self-employed SEP, SIMPLE, and qualified plans . . 28
29 Self-employed health insurance deduction . . . . 29
30 Penalty on early withdrawal of savings . . . . . . 30
31a Alimony paid b Recipient’s SSN a 31a
32 IRA deduction . . . . . . . . . . . . . 32
33 Student loan interest deduction . . . . . . . . 33
34 Reserved for future use . . . . . . . . . . 34
35 Domestic production activities deduction. Attach Form 8903 35
36 Add lines 23 through 35 . . . . . . . . . . . . . . . . . . . 36
37 Subtract line 36 from line 22. This is your adjusted gross income . . . . . a 37 57,075
For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Cat. No. 11320B Form 1040 (2017)

Form 1040 (2017) Lisa Kohl 467-98-9784 Page 2
38 Amount from line 37 (adjusted gross income) . . . . . . . . . . . . . . 38 57,075
Tax and
Credits
39a Check
if:
{ You were born before January 2, 1953,
Spouse was born before January 2, 1953,
Blind.
Blind.
} Total boxes
checked a 39a
b If your spouse itemizes on a separate return or you were a dual-status alien, check here a 39b
Standard 40 Itemized deductions (from Schedule A) or your standard deduction (see left margin) . . 40 12,580
Deduction
for— 41 Subtract line 40 from line 38 . . . . . . . . . . . . . . . . . . . 41 44,495
4,050
DRAFT AS OF
• People who 42 Exemptions. If line 38 is $156,900 or less, multiply $4,050 by the number on line 6d. Otherwise, see instructions 42
check any
box on line 43 Taxable income. Subtract line 42 from line 41. If line 42 is more than line 41, enter -0- . . 43 40,445
39a or 39b or
who can be
44 Tax (see instructions). Check if any from: a Form(s) 8814 b Form 4972 c 44 5,364
claimed as a 45 Alternative minimum tax (see instructions). Attach Form 6251 . . . . . . . . . 45
dependent,
see 46 Excess advance premium tax credit repayment. Attach Form 8962 . . . . . . . . 46
instructions. 47 Add lines 44, 45, and 46 . . . . . . . . . . . . . . . . . . . a 47 5,364
August 15, 2017

• All others:
48 Foreign tax credit. Attach Form 1116 if required . . . . 48
Single or
Married filing 49 Credit for child and dependent care expenses. Attach Form 2441 49
separately,
$6,350 50 Education credits from Form 8863, line 19 . . . . . 50
Married filing 51 Retirement savings contributions credit. Attach Form 8880 51
jointly or
Qualifying 52 Child tax credit. Attach Schedule 8812, if required . . . 52
widow(er),
DO NOT FILE
$12,700 53 Residential energy credit. Attach Form 5695 . . . . . 53
Head of 54 Other credits from Form: a 3800 b 8801 c 54
household,
$9,350 55 Add lines 48 through 54. These are your total credits . . . . . . . . . . . . 55 0
56 Subtract line 55 from line 47. If line 55 is more than line 47, enter -0- . . . . . . a 56 5,364
57 Self-employment tax. Attach Schedule SE . . . . . . . . . . . . . . . 57
Other 58 Unreported social security and Medicare tax from Form: a 4137 b 8919 . . 58
59 Additional tax on IRAs, other qualified retirement plans, etc. Attach Form 5329 if required . . 59
Taxes 60a Household employment taxes from Schedule H . . . . . . . . . . . . . . 60a
b First-time homebuyer credit repayment. Attach Form 5405 if required . . . . . . . . 60b
61 Health care: individual responsibility (see instructions) Full-year coverage x . . . . . 61
62 Taxes from: a Form 8959 b Form 8960 c Instructions; enter code(s) 62
63 Add lines 56 through 62. This is your total tax . . . . . . . . . . . . . a 63 5,364
Payments 64 Federal income tax withheld from Forms W-2 and 1099 . . 64 6,000
65 2017 estimated tax payments and amount applied from 2016 return 65
If you have a
66a Earned income credit (EIC) . . . . . . . . . . 66a
qualifying
child, attach b Nontaxable combat pay election 66b
Schedule EIC. 67 Additional child tax credit. Attach Schedule 8812 . . . . . 67
68 American opportunity credit from Form 8863, line 8 . . . 68
69 Net premium tax credit. Attach Form 8962 . . . . . . 69
70 Amount paid with request for extension to file . . . . . 70
71 Excess social security and tier 1 RRTA tax withheld 71 . . . .
72 Credit for federal tax on fuels. Attach Form 4136 72 . . . .
73 Credits from Form: a 2439 b Reserved c 8885 d 73
74 Add lines 64, 65, 66a, and 67 through 73. These are your total payments . . . . . a 74 6,000
Refund 75 If line 74 is more than line 63, subtract line 63 from line 74. This is the amount you overpaid 75 636
76a Amount of line 75 you want refunded to you. If Form 8888 is attached, check here . a 76a 636
Direct deposit?
a bRouting number a c Type: Checking Savings
See a dAccount number
instructions.
77 Amount of line 75 you want applied to your 2018 estimated tax a 77
Amount 78 Amount you owe. Subtract line 74 from line 63. For details on how to pay, see instructions a 78
You Owe 79 Estimated tax penalty (see instructions) . . . . . . . 79
Third Party Do you want to allow another person to discuss this return with the IRS (see instructions)? Yes. Complete below. No
Designee’s Phone Personal identification
Designee name a no. a number (PIN) a
Sign 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
accurately list all amounts and sources of income I received during the tax year. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Here Your signature Date Your occupation Daytime phone number
F
Joint return? See

instructions. High School Principal
Keep a copy for Spouse’s signature. If a joint return, both must sign. Date Spouse’s occupation If the IRS sent you an Identity Protection
your records. PIN, enter it
here (see inst.)
Print/Type preparer’s name Preparer’s signature Date PTIN
Paid Check if
self-employed
Preparer
Firm’s name Firm’s EIN
Use Only
a a
Firm’s address a Phone no.

Go to www.irs.gov/Form1040 for instructions and the latest information. Form 1040 (2017)

SCHEDULE A OMB No. 1545-0074
(Form 1040) Itemized Deductions
Department of the Treasury
a Go to www.irs.gov/ScheduleA for instructions and the latest information. 2017
Attachment
Internal Revenue Service (99) a Attach to Form 1040. Sequence No. 07
Name(s) shown on Form 1040 Your social security number
Lisa Kohl 467-98-9784

Caution: Do not include expenses reimbursed or paid by others.
DRAFT AS OF
Medical
and 1,030
1 Medical and dental expenses (see instructions) . . . . . 1
Dental 2 Enter amount from Form 1040, line 38 2 57,075
Expenses 5,708
3 Multiply line 2 by 10% (0.10) . . . . . . . . . . . . 3
0
4 Subtract line 3 from line 1. If line 3 is more than line 1, enter -0- . . . . . . . . 4
Taxes You 5 State and local (check only one box):
July 18, 2017

a x Income taxes, or
1,175
Paid
b General sales taxes }
. . . . . . . . . . . 5
1,425
6 Real estate taxes (see instructions) . . . . . . . . . 6
7 Personal property taxes . . . . . . . . . . . . . 7
8 Other taxes. List type and amount a
DO NOT FILE
8
2,600
9 Add lines 5 through 8 . . . . . . . . . . . . . . . . . . . . . . 9
Interest 9,250
10 Home mortgage interest and points reported to you on Form 1098 10
You Paid 11 Home mortgage interest not reported to you on Form 1098. If paid
to the person from whom you bought the home, see instructions
Note: and show that person’s name, identifying no., and address a
Your mortgage
interest
deduction may 11
be limited (see 12 Points not reported to you on Form 1098. See instructions for
instructions). special rules . . . . . . . . . . . . . . . . . 12
13 Reserved . . . . . . . . . . . . . . . . . . 13
14 Investment interest. Attach Form 4952 if required. See instructions. 14
9,250
Gifts to 16 Gifts by cash or check. If you made any gift of $250 or more,
Charity 730see instructions . . . . . . . . . . . . . . . . 16
If you made a 17 Other than by cash or check. If any gift of $250 or more, see
gift and got a instructions. You must attach Form 8283 if over $500 . . . 17
benefit for it, 18 Carryover from prior year . . . . . . . . . . . . 18
730
see instructions.
Casualty and
Theft Losses
20 Casualty or theft loss(es). Attach Form 4684. See instructions . . . . . . . . 20
Job Expenses 21 Unreimbursed employee expenses—job travel, union dues,
and Certain job education, etc. Attach Form 2106 or 2106-EZ if required.
Miscellaneous See instructions. a 21
Deductions 22 Tax preparation fees . . . . . . . . . . . . . 22 300
23 Other expenses—investment, safe deposit box, etc. List type
and amount a
23
300
24 Add lines 21 through 23 . . . . . . . . . . . . 24
25 Enter amount from Form 1040, line 38 25 57,075

26 Multiply line 25 by 2% (0.02) . . . . . . . . . . 26 1,142
0
27 Subtract line 26 from line 24. If line 26 is more than line 24, enter -0- . . . . . . 27
Other 28 Other—from list in instructions. List type and amount a
Miscellaneous
Deductions 28
Total 29 Is Form 1040, line 38, over $156,900?
x No. Your deduction is not limited. Add the amounts in the far right column
}
Itemized
Deductions 12,580
for lines 4 through 28. Also, enter this amount on Form 1040, line 40. . . 29
Yes. Your deduction may be limited. See the Itemized Deductions
Worksheet in the instructions to figure the amount to enter.
30 If you elect to itemize deductions even though they are less than your standard
deduction, check here . . . . . . . . . . . . . . . . . . . a
For Paperwork Reduction Act Notice, see the Instructions for Form 1040. Cat. No. 17145C Schedule A (Form 1040) 2017

SCHEDULE B OMB No. 1545-0074
Interest and Ordinary Dividends
2017
(Form 1040A or 1040)
a Attach to Form 1040A or 1040.
Department of the Treasury a Go
Attachment
Internal Revenue Service (99) to www.irs.gov/ScheduleB for instructions and the latest information. Sequence No. 08
Lisa Kohl 467-98-9784
Part I Amount
DRAFT AS OF
1 List name of payer. If any interest is from a seller-financed mortgage and the
buyer used the property as a personal residence, see the instructions and list this
Interest interest first. Also, show that buyer’s social security number and address a
(See instructions
Olathe National Bank 200
and the
instructions for
July 10, 2017

Form 1040A, or
Form 1040,
line 8a.)
1
Note: If you
received a Form
1099-INT, Form
1099-OID, or
DO NOT FILE
substitute
statement from
a brokerage firm,
list the firm’s
name as the
payer and enter
the total interest
shown on that
form. 2 Add the amounts on line 1 .
. . . . . . . . . . . . . . . . . . 2 200
3
Excludable interest on series EE and I U.S. savings bonds issued after 1989.
Attach Form 8815 . . . . . . . . . . . . . . . . . . . . . . 3
4 Subtract line 3 from line 2. Enter the result here and on Form 1040A, or Form
1040, line 8a . . . . . . . . . . . . . . . . . . . . . . a 4 200
Note: If line 4 is over $1,500, you must complete Part III. Amount
Part II 5 List name of payer a
Johnson Corp. 4,075
Ordinary
Dividends
(See instructions
and the
instructions for
Form 1040A, or
Form 1040, 5
line 9a.)
Note: If you
received a Form
1099-DIV or
substitute
statement from
a brokerage firm,
list the
firm’s
name as the
payer and enter
the ordinary
6 Add the amounts on line 5. Enter the total here and on Form 1040A, or Form

dividends shown
on that form. 1040, line 9a . . . . . . . . . . . . . . . . . . . . . . a 6 4,075
Note: If line 6 is over $1,500, you must complete Part III.
Part III You must complete this part if you (a) had over $1,500 of taxable interest or ordinary dividends; (b) had a
Yes No
foreign account; or (c) received a distribution from, or were a grantor of, or a transferor to, a foreign trust.
Foreign 7a At any time during 2017, did you have a financial interest in or signature authority over a financial
Accounts account (such as a bank account, securities account, or brokerage account) located in a foreign
country? See instructions . . . . . . . . . . . . . . . . . . . . . . . . x
and Trusts
If “Yes,” are you required to file FinCEN Form 114, Report of Foreign Bank and Financial
Accounts (FBAR), to report that financial interest or signature authority? See FinCEN Form 114

(See instructions.)
and its instructions for filing requirements and exceptions to those requirements . . . . . .
b If you are required to file FinCEN Form 114, enter the name of the foreign country where the
financial account is located a
8 During 2017, did you receive a distribution from, or were you the grantor of, or transferor to, a
foreign trust? If “Yes,” you may have to file Form 3520. See instructions . . . . . . . . . x
For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 17146N Schedule B (Form 1040A or 1040) 2017
* Because interest is less than $1,500, Schedule B is not required.



2017
Attachment
Lisa Kohl 467-98-9784
DRAFT AS OF
August 14, 2017


DO NOT FILE
Box A checked . . . . . . . . . . . . . 17,100 43,100 (26,000)
Box B checked . . . . . . . . . . . . .
Box C checked . . . . . . . . . . . . .
Schedule(s) K-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

term capital gains or losses, go to Part II below. Otherwise, go to Part III on the back . . . . . 7 (26,000)

Box D checked . . . . . . . . . . . . .
Box E checked . . . . . . . . . . . . .
Box F checked . . . . . . . . . . . . . .

from Forms 4684, 6781, and 8824 . . . . . . . . . . . . . . . . . . . . . . 11 6,250
12 Net long-term gain or (loss) from partnerships, S corporations, estates, and trusts from Schedule(s) K-1 12

the back . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 6,250

Schedule D (Form 1040) 2017 Lisa Kohl 467-98-9784 Page 2
Part III Summary
16 Combine lines 7 and 15 and enter the result . . . . . . . . . . . . . . . . . . 16 (19,750)
DRAFT AS OF
line 22.
17
August 14, 2017

Yes. Go to line 18.
DO NOT FILE
amount, if any, from line 7 of that worksheet . . . . . . . . . . . . . . . . . a 18
instructions), enter the amount, if any, from line 18 of that worksheet . . . . . . . . . a 19

21 and 22 below.
and 22 below.

• ($3,000), or if married filing separately, ($1,500) } . . . . . . . . . . . . . . . 21 ( 3,000 )
x Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions
No. Complete the rest of Form 1040 or Form 1040NR.


OMB No. 1545-0074
2017
Form
Lisa Kohl 467-98-9784
DRAFT AS OF
August 11, 2017

DO NOT FILE
(a) (b)
100 shares Johnson Corp. stock 08/31/16 02/05/17 17,100 43,100 (26,000)
above is checked), or line 3 (if Box C above is checked) a 17,100 43,100 (26,000)

Lisa Kohl 467-98-9784
DRAFT AS OF 4,075
40,445
October 7, 2016
X
0
4,075
0
4,075
36,370
37,950
37,950
36,370
1,580
4,075
1,580
2,495
418,400
40,445
37,950
2,495
2,495
374
4,075
0
0
4,990
5,364
5,845
5,364
Form 6252 Installment Sale Income

a Attach to your tax return.
OMB No. 1545-0228
2017
Department of the Treasury a Use a separate form for each sale or other disposition of property on the installment method. Attachment
Internal Revenue Service a Go to www.irs.gov/Form6252 for the latest information. Sequence No. 79
Lisa Kohl 467-98-9784
1
Description of Land sale
property a
2a
Date acquired (mm/dd/yyyy)
a 01/28/2011 a 01/28/2017
b Date sold (mm/dd/yyyy)
3 Was the property sold to a related party (see instructions) after May 14, 1980? If “No,” skip line 4 . . . . . Yes x No
4 Was the property you sold to a related party a marketable security? If “Yes,” complete Part III. If “No,”
complete Part III for the year of sale and the 2 years after the year of sale . . . . . . . . . . . . . Yes No
Part I Gross Profit and Contract Price. Complete this part for the year of sale only.
5 Selling price including mortgages and other debts. Don’t include interest, whether stated or unstated 5 180,000
6 Mortgages, debts, and other liabilities the buyer assumed or took the
property subject to (see instructions) . . . . . . . . . . . 6
7 Subtract line 6 from line 5 . . . . . . . . . . . . . . . 7 180,000
8 Cost or other basis of property sold . . . . . . . . . . . 8 135,000
9 Depreciation allowed or allowable . . . . . . . . . . . . 9
10 Adjusted basis. Subtract line 9 from line 8 . . . . . . . . . 10 135,000
11 Commissions and other expenses of sale . . . . . . . . . 11
12 Income recapture from Form 4797, Part III (see instructions) . . . 12
13 Add lines 10, 11, and 12 . . . . . . . . . . . . . . . . . . . . . . . . . 13 135,000
14 Subtract line 13 from line 5. If zero or less, don’t complete the rest of this form (see instructions) . 14 45,000
15 If the property described on line 1 above was your main home, enter the amount of your excluded
gain (see instructions). Otherwise, enter -0- . . . . . . . . . . . . . . . . . . . 15
16 Gross profit. Subtract line 15 from line 14 . . . . . . . . . . . . . . . . . . . 16 45,000
17 Subtract line 13 from line 6. If zero or less, enter -0- . . . . . . . . . . . . . . . . 17 0
18 Contract price. Add line 7 and line 17 . . . . . . . . . . . . . . . . . . . . 18 180,000
Part II Installment Sale Income. Complete this part for the year of sale and any year you receive a payment or have
certain debts you must treat as a payment on installment obligations.
19 Gross profit percentage (expressed as a decimal amount). Divide line 16 by line 18. (For years
after the year of sale, see instructions) . . . . . . . . . . . . . . . . . . . . 19 .2500
20 If this is the year of sale, enter the amount from line 17. Otherwise, enter -0- . . . . . . . . 20 0
21 Payments received during year (see instructions). Don’t include interest, whether stated or unstated . 21 25,000
22 Add lines 20 and 21 . . . . . . . . . . . . . . . . . . . . . . . . . . 22 25,000
23 Payments received in prior years (see instructions). Don’t include
interest, whether stated or unstated . . . . . . . . . . . 23
24 Installment sale income. Multiply line 22 by line 19 . . . . . . . . . . . . . . . . 24 6,250
26 Subtract line 25 from line 24. Enter here and on Schedule D or Form 4797 (see instructions) . . . 26 6,250
Part III Related Party Installment Sale Income. Don’t complete if you received the final payment this tax year.
27 Name, address, and taxpayer identifying number of related party
28 Did the related party resell or dispose of the property (“second disposition”) during this tax year? . . . . . Yes No
29 If the answer to question 28 is “Yes,” complete lines 30 through 37 below unless one of the following conditions is met. Check the box that applies.
a The second disposition was more than 2 years after the first disposition (other than dispositions
of marketable securities). If this box is checked, enter the date of disposition (mm/dd/yyyy) . . . a
b The first disposition was a sale or exchange of stock to the issuing corporation.
c The second disposition was an involuntary conversion and the threat of conversion occurred after the first disposition.
d The second disposition occurred after the death of the original seller or buyer.
e It can be established to the satisfaction of the IRS that tax avoidance wasn’t a principal purpose for either of the
dispositions. If this box is checked, attach an explanation (see instructions).
30 Selling price of property sold by related party (see instructions) . . . . . . . . . . . . 30
31 Enter contract price from line 18 for year of first sale . . . . . . . . . . . . . . . . 31
32 Enter the smaller of line 30 or line 31 . . . . . . . . . . . . . . . . . . . . . 32
33 Total payments received by the end of your 2017 tax year (see instructions) . . . . . . . . 33
34 Subtract line 33 from line 32. If zero or less, enter -0- . . . . . . . . . . . . . . . 34
35 Multiply line 34 by the gross profit percentage on line 19 for year of first sale . . . . . . . . 35
37 Subtract line 36 from line 35. Enter here and on Schedule D or Form 4797 (see instructions) . . . 37
For Paperwork Reduction Act Notice, see page 4. Cat. No. 13601R Form 6252 (2017)
Key Number Tax Return Summary

Chapter 8
Adjusted Gross Income (Line 37) 83,500
Schedule D, Net Short-Term Capital Gain or (Loss) (Line 7) 100
Schedule D, Net Long-Term Capital Gain or (Loss) (Line 15) 4,500
Taxable Income (Line 43) 64,700
Amount Overpaid (Line 75) 3,780
Adjusted Gross Income (Line 37) 57,075
Schedule D, Net Short-Term Capital Gain or (Loss) (Line 7) (26,000)
Schedule D, Net Long-Term Capital Gain or (Loss) (Line 15) 6,250
Form 6252, Installment Sale Income (Line 26) 6,250
Amount Overpaid (Line 75) 636

Another random document with
no related content on Scribd:
el llanto
que quasi tiene mi ánimo
deshecho?
Sólo á Syreno cuento sin
provecho
mi triste desventura,
que della tanto cura
como el furioso viento en
mar insano
las lágrimas que en vano
derrama el congojado
marinero,
pues cuanto más le ruega,
más es fiero.
No ha sido fino amor, Syreno

mío,
el que por estos campos me
mostrabas,
pues un descuido mío ansí
le ofende.
¿Acuérdaste, traidor, lo que
jurabas
sentado en este bosque y
junto al río?
¿pues tu dureza agora qué
pretende?
¿No bastará que el simple
olvido emiende
con un amor sobrado,
y tal, que si al passado
olvido no aventaja de gran
parte
(pues más no puedo
amarte,
ni con mayor ardor
satisfacerte)
por remedio tomar quiero la
muerte?
Mas viva yo en tal pena, pues

la siento
por ti, que haces menor toda
tristura,
aunque más dañe el ánima
mezquina.
Porque tener presente tu
figura
da gusto aventajado al
pensamiento
de quien por ti penando en ti
imagina.
Mas tú á mi ruego ardiente un
poco inclina
el corazón altivo,
pues ves que en penas vivo
con un solo deseo
sostenida,
de oir de ti en mi vida
siquiera un no en aquello
que más quiero.
¿Mas qué se ha de esperar
de hombre tan fiero?
¿Cómo agradesces, dime, los

favores
de aquel tiempo passado
que tenías
mas blando el corazón, duro
Syreno,
cuando, traidor, por causa
mía hacías
morir de pura envidia mil
pastores.
¡Ay, tiempo de alegría! ¡Ay,
tiempo bueno!
Será testigo el valle y prado
ameno,
á do de blancas rosas
y flores olorosas
guirnalda á tu cabeza
componía,
do á veces añadía
por sólo contentarte algún
cabello:
que muero de dolor
pensando en ello.
Agora andas essento
aborresciendo
la que por ti en tal pena se
consume:
pues guarte de las mañas
de Cupido.
Que el corazón soberbio, que
presume
del bravo amor estarse
defendiendo,
cuanto más armas hace, es
más vencido.
Yo ruego que tan preso y tan
herido
estés como me veo.
Mas siempre á mi deseo
no desear el bien le es buen
aviso,
pues cuantas cosas quiso,
por más que tierra y cielos
importuna,
se las negó el Amor y la
Fortuna.
Canción, en algún pino ó dura
encina
no quise señalarte,
mas antes entregarte
al sordo campo y al
mudable viento:
porque de mi tormento
se pierda la noticia y la
memoria,
pues ya perdida está mi vida
y gloria.
La delicada voz y gentil gracia de

la hermosa Diana hacía muy clara
ventaja á las habilidades de su
tiempo: pero más espanto daba
ver las agudezas con que
matizaba sus cantares, porque
eran tales, que parescían salidas
de la avisada corte. Mas esto no
ha de maravillar tanto los
hombres que lo tengan por
impossible: pues está claro que
es bastante el Amor para hacer
hablar á los más simples pastores
avisos más encumbrados,
mayormente si halla aparejo de
entendimiento vivo é ingenio
despierto, que en las pastoriles
cabañas nunca faltan. Pues
estando ya la enamorada pastora
al fin de su canción, al tiempo que
el claro sol ya comenzaba á dorar
las cumbres de los más altos
collados, el desamado Marcelio,
de la pastoril posada despedido
para venir al lugar que con Diana
tenía concertado, descendió la
cuesta á cuyo pie ella sentada
estaba. Vióle ella de lejos, y calló
su voz, porque no entendiesse la
causa de su mal. Cuando
Marcelio llegó donde Diana le
esperaba, le dijo: Hermosa
pastora, el claro día de hoy, que
con la luz de tu gesto amaneció
más resplandeciente, sea tan
alegre para ti como fuera triste
para mí si no le hubiesse de
passar en tu compañía. Corrido
estoy en verdad de ver que mi
tardanza haya sido causa que
recibiesses pesadumbre con
esperarme; pero no será este el
primer yerro que le has de
perdonar á mi descuido, en tanto
que tratarás conmigo. Sobrado
sería el perdón, dijo Diana, donde
el yerro falta: la culpa no la tiene
tu descuido, sino mi cuidado,
pues me hizo levantar antes de
hora y venir acá, donde hasta
agora he passado el tiempo, á
veces cantando y á veces
imaginando, y en fin entendiendo
en los tratos que á un angustiado
espíritu pertenescen. Mas no
hace tiempo de deternos aquí,
que aunque el camino hasta el
templo de Diana es poco, el
deseo que tenemos de llegar allá
es mucho. Y allende de esto me
paresce que conviene, en tanto
que el sol envía más mitigados
los rayos y no son tan fuertes sus
ardores, adelantar el camino, para
después, á la hora de la siesta, en
algún lugar fresco y sombrío tener
buen rato de sossiego. Dicho
esto, tomaron entrambos el
camino, travesando aquel
espesso bosque, y por alivio del
camino cantaban deste modo:
MARCELIO
Mudable y fiero Amor, que mi
ventura
pusiste en la alta cumbre,
do no llega mortal
merescimiento.
Mostraste bien tu natural
costumbre,
quitando mi tristura,
para doblarla y dar mayor
tormento.
Dejaras descontento
el corazón: que menos daño
fuera
vivir en pena fiera
que recebir un gozo no
pensado,
con tan penosas lástimas
borrado.
DIANA
No te debe espantar que de tal
suerte
el niño poderoso
tras un deleite envíe dos mil
penas.
Que á nadie prometió firme
reposo,
sino terrible muerte,
llantos, congojas, lágrimas,
cadenas.
En Libya las arenas,
ni en el hermoso Abril las
tierras flores
no igualan los dolores
con que rompe el Amor un
blando pecho,
y aun no queda con ello
satisfecho.
MARCELIO
Antes del amoroso
pensamiento
ya tuve conoscidas
las mañas con que Amor
captiva y mata.
Mas él no sólo aflige nuestras
vidas,
mas el conoscimiento
de los vivos juicios arrebata.
Y el alma ansí maltrata,
que tarde y mal y por
incierta vía
allega una alegría,
y por dos mil caminos los
pesares
sobre el perdido cargan á
millares.
DIANA
Si son tan manifiestos los
engaños
con que el Amor nos
prende,
¿por qué á ser presa el
alma se presenta?
Si el blando corazón no se
defiende
de los terribles daños,
¿por qué después se queja
y se lamenta?
Razón es que consienta
y sufra los dolores de
Cupido
aquel que ha consentido
al corazón la flecha y la
cadena:
que el mal no puede darnos
sino pena.
Esta canción y otras cantaron, al

cabo de las cuales estuvieron ya
fuera del bosque, y comenzaron á
caminar por un florido y deleitoso
prado. Entonces dijo Diana estas
palabras: Cosas son maravillosas
las que la industria de los
hombres en las pobladas
ciudades ha inventado, pero más
espauto dan las que la naturaleza
en los solitarios campos ha
producido. ¿A quién no admira la
frescura deste sombroso bosque?
¿quién no se espanta de la
lindeza de este espacioso prado?
Pues ver los matices de las
libreadas flores, y oir el concierto
de las cantadoras aves, es cosa
de tanto contento que no iguala
con ello de gran parte la pompa y
abundancia de la más celebrada
corte. Ciertamente, dijo
Marcelio, en esta alegre soledad
hay gran aparejo de
contentamiento, mayormente para
los libres, pues les es licito gozar
á su voluntad de tan admirables
dulzuras y entretenimientos. Y
tengo por muy cierto que si el
Amor, que agora, morando en
estos desiertos, me es tan
enemigo, me diera en la villa
donde yo estaba la mitad del
dolor que agora siento, mi vida no
osara esperado, pues no pudiera
con semejantes deleites amansar
la braveza del tormento. A esto no
respondió Diana palabra, sino
que, puesta la blanca mano
delante sus ojos, sosteniendo con
ella la dorada cabeza, estuvo
gran rato pensosa, dando de
cuando en cuando muy
angustiados suspiros, y á cabo de
gran pieza dijo ansí: ¡Ay de mí,
pastora desdichada! ¿qué
remedio será bastante á consolar
mi mal, si los que quitan á los
otros gran parte del tormento
acarrean más ardiente dolor? No
tengo ya sufrimiento para encubrir
mi pena, Marcelio; mas ya que la
fuerza del dolor me constriñe á
publicarla, una cosa le agradezco,
que me fuerza á decirla en tiempo
y en parte en que tú solo estés
presente, pues por tus generosas
costumbres y por la experiencia
que tienes de semejante mal, no
tendrás por sobrada mi locura,
principalmente sabiendo la causa
della. Yo estoy maltratada del mal
que te atormenta, y no olvidada
como tú de un pastor llamado
Syreno, del cual que en otro
tiempo fuí querida. Mas la
Fortuna, que pervierte los
humanos intentos, quiso que,
obedesciendo más á mi padre
que á mi voluntad, dejasse de
casarme con él, y á mi pesar me
hiciesse esclava de un marido
que, cuando otro mal no tuviera
con él sino el que causan sus
continuos é importunados celos,
bastaba para matarme. Mas yo
me tuviera por contenta de sufrir
las sospechas de Delio con que
viera la preferencia de Syreno, el
cual creo que por no verme,
tomando de mi forzado
casamiento ocasión para
olvidarme, se apartó de nuestra
aldea, y está, según he sabido, en
el templo de Diana, donde
nosotros imos. De aquí puedes
imaginar cuál puedo estar,
fatigada de los celos del marido y
atormentada con la ausencia del
amado. Dijo entonces Marcelio:
Graciosa pastora, lastimado
quedo de saber tu dolor y corrido
de no haberle hasta agora sabido.
Nunca yo me vea con el deseado
contento sino querría verle tanto
en tu alma como en la mía. Mas,
pues sabes cuán generales son
las flechas del Amor, y cuán poca
cuenta tienen con los más fuertes,
libres y más honestos corazones,
no tengas afrenta de publicar sus
llagas, pues no quedará por ellas
tu nombre denostado, sino en
mucho más tenido. Lo que á mí
me consuela es saber que el
tormento que de los celos del
marido recibías, el cual suele dar
á veces mayor pena que la
ausencia de la cosa amada, te
dejará algún rato descansar, en
tanto que Delio, siguiendo la
fugitiva pastora, estará apartado
de tu compañía. Goza, pues, del
tiempo y acasión que te concede
la fortuna, y alégrate, que no será
poco alivio para ti passar la
ausencia de Syreno libre de la
importunidad del celoso marido.
No tengo yo, dijo Diana, por tan
dañosos los celos, que si como
son de Delio fueran de Syreno, no
los sufriera con sólo imaginar que
tenían fundamento en amor.
Porque cierto está que quien ama
huelga de ser amado, y ha de
tener los celos de la cosa amada
por muy buenos, pues son claras
señales de amor, nascen dél y
siempre van con él acompañados.
De mí á lo menos te puedo decir
que nunca me tuve por tan
enamorada como cuando me vi
celosa, y nunca me vi celosa sino
estando enamorada. A lo cual
replicó Marcelio: Nunca pensé
que la pastoril llaneza fuesse
bastante á formar tan avisadas
razones como las tuyas en
cuestión tan dificultosa como es
ésta. Y de aquí vengo á condenar
por yerro muy reprobado decir,
como muchos afirman, que en
solas las ciudades y cortes está la
viveza de los ingenios, pues la
hallé también entre las
espessuras de los bosques, y en
las rústicas é inartificiosas
cabañas. Pero con todo, quiero
contradecir á tu parescer, con el
cual heciste los celos tan ciertos
mensajeros y compañeros del
amor, como si no pudiesse estar
en parte donde ellos no estén.
Porque puesto que hay pocos
enamorados que no sean
celosos, no por eso se ha de decir
que el enamorado que no lo fuere
no sea más perfecto y verdadero
amador. Antes muestra en ello el
valor, fuerza y quilate de su
deseo, pues está limpio y sin la
escoria de frenéticas sospechas.
Tal estaba yo en el tiempo
venturoso, y me preciaba tanto
dello, que con mis versos lo iba
publicando, y una vez entre las
otras, que mostró Alcida
maravillarse de verme enamorado
y libre de celos, le escribí sobre
ello este
Soneto.
Dicen que Amor juró que no
estaria
sin los mortales celos un
momento,
y la Belleza nunca hacer
assiento,
do no tenga Soberbia en
compañía.
Dos furias son, que el bravo
infierno envía,
bastantes á enturbiar todo
contento:
la una el bien de amor
vuelve en tormento,
la otra de piedad la alma
desvía.
Perjuro fué el Amor y la
Hermosura
en mí y en vos, haciendo
venturosa
y singular la suerte de mi
estado.
Porque después que vi
vuestra figura,
ni vos fuistes altiva, siendo
hermosa,
ni yo celoso, siendo
enamorado.
Fué tal el contento que tuvo mi
Alcida cuando le dije este soneto,
entendiendo por él la fineza de mi
voluntad, que mil veces se le
cantaba, sabiendo que con ello le
era muy agradable. Y
verdaderamente, pastora, tengo
por muy grande engaño, que un
monstruo tan horrendo como los
celos se tenga por cosa buena,
con decir que son señales de
amor y que no están sino en el
corazón enamorado. Porque á
essa cuenta podremos decir que
la calentura es buena, pues es
señal de vida y nunca está sino
en el cuerpo vivo. Pero lo uno y lo
otro son manifiestos errores, pues
no dan menor pesadumbre los
celos que la fiebre. Porque son
pestilencia de las almas, frenesía
de los pensamientos, rabia que
los cuerpos debilita, ira que el
espíritu consume, temor que los
ánimos acobarda y furia que las
voluntades enloquesce. Mas para
que juzgues ser los celos cosa
abominable, imagina la causa
dellos, y hallarás que no es otra
sino un apocado temor de lo que
no es ni será, un vil menosprecio
del propio merescimiento y una
sospecha mortal, que pone en
duda la fe y la bondad de la cosa
querida. No pueden, pastora, con
palabras encarescerse las penas
de los celos, porque son tales,
que sobrepujan de gran parte los
tormentos que acompañan el
amor. Porque en fin, todos, sino
él, pueden y suelen parar en
admirables dulzuras y contentos,
que ansí como la fatigosa sed en
el tiempo caloroso hace parescer
más sabrosas las frescas aguas,
y el trabajo y sobresalto de la
guerra hace que tengamos en
mucho el sossiego de la paz, ansí
los dolores de Cupido sirven para
mayor placer en la hora que se
rescibe un pequeño favor, y
cuando quiera que se goze de un
simple contentamiento. Mas estos
rabiosos celos esparcen tal
veneno en los corazones, que
corrompe y gasta cuantos deleites
se le llegan. A este propósito, me
acuerdo que yo oí contar un día á
un excelente músico en Lisbona
delante del Rey de Portugal un
soneto que decía ansi:
Quando la brava ausencia un

alma hiere,
se ceba, imaginando el
pensamiento,
que el bien, que está más
lejos, más contento
el corazón hará cuando
viniere.
Remedio hay al dolor de quien
tuviere
en esperanza puesto el
fundamento;
que al fin tiene algún premio
del tormento,
o al menos en su amor
contento muere.
Mil penas con un gozo se
descuentan,
y mil reproches ásperos se
vengan
con sólo ver la angélica
hermosura.
Mas cuando celos la ánima
atormentan,
aunque después mil bienes
sobrevengan,
se tornan rabia, pena y
amargura.
¡Oh, cuán verdadero parescer!

¡Oh, cuán cierta opinión es ésta!
Porque á la verdad, esta
pestilencia de los celos no deja en
el alma parte sana donde pueda
recogerse una alegría. No hay en
amor contento, cuando no hay
esperanza, y no la habrá, en tanto
que los celos están de por medio.
No hay placer que dellos esté
seguro, no hay deleite que con
ellos no se gaste y no hay dolor
que con ellos no nos fatigue. Y
llega á tanto la rabia y furor de los
venenosos celos, que el corazón,
donde ellos están, recibe
pesadumbre en escuchar
alabanzas de la cosa amada, y no
querría que las perfecciones que
él estima fuessen de nadie vistas
ni conocidas, haciendo en ello
gran perjuicio al valor de la
gentileza que le tiene captivo. Y
no sólo el celoso vive en este
dolor, mas á la que bien quiere le
da tan continua y trabajosa pena,
que no le diera tanta, si fuera su
capital enemigo. Porque claro
está que un marido celoso como
el tuyo, antes querria que su
mujer fuesse la mas fea y
abominable del mundo, que no
que fuesse vista ni alabada por
los hombres, aunque sean
honestos y moderados. ¿Qué
fatiga es para la mujer ver su
honestidad agraviada con una
vana sospecha? ¿qué pena le es
estar sin razón en los más
secretos rincones encerrada?
¿qué dolor ser ordinariamente
con palabras pesadas, y aun á
veces con obras combatida? Si
ella está alegre, el marido la tiene
por deshonesta; si está triste,
imagina que se enoja de verle; si
está pensando, la tiene por
sospechosa; si le mira, paresce
que le engaña; si no le mira,
piensa que le aborresce; si le
hace caricias, piensa que las
finge; si está grave y honesta,
cree que le desecha; si rie, la
tiene por desenvuelta; si suspira,
la tiene por mala, y en fin, en
cuántas cosas se meten estos
celos, las convierten en dolor,
aunque de suyo sean agradables.
Por donde está muy claro que no
tiene el mundo pena que iguale
con esta, ni salieron del infierno
Harpías que más ensucien y
corrompan los sabrosos manjares
del alma enamorada. Pues no
tengas en poco, Diana, tener
ausente el celoso Delio, que no
importa poco para passar más
ligeramente las penas del Amor. A
esto Diana respondió: Yo vengo á
conoscer que esta passión, que
has tan al vivo dibujado, es
disforme y espantosa, y que no
meresce estar en los amorosos
ánimos, y creo que esta pena era
la que Delio tenía. Mas quiero que
sepas que semejante dolencia no
pretendí yo defenderla, ni jamás
estuvo en mí: pues nunca tuve
pesar del valor de Syreno, ni fuí
atormentada de semejantes
passiones y locuras, como las
que tú me has contado, mas sólo
tuve miedo de ser por otra
desechada. Y no me engañó de
mucho este recelo, pues he
probado tan á costa mía el olvido
de Syreno. Esse miedo, dijo
Marcelio, no tiene nombre de
celos, antes es ordinario en los
buenos amadores. Porque
averiguado está que lo que yo
amo, lo estimo y tengo por bueno
y merescedor de tal amor, y
siendo ello tal, he de tener miedo
que otro no conozca su bondad y
merescimiento, y no lo ame como
yo. Y ansí el amador está metido
en medio del temor y la
esperanza. Lo que el uno le
niega, la otra se lo promete;
cuando el uno le acobarda, la otra
le esfuerza; y en fin las llagas que
hace el temor se curan con la
esperanza, durando esta reñida
pelea hasta que la una parte de
las dos queda vencida, y si
acontesce vencer el temor á la
esperanza, queda el amador
celoso, y si la esperanza vence al
temor, queda alegre y bien
afortunado. Mas yo en el tiempo
de mi ventura tuve siempre una
esperanza tan fuerte, que no sólo
el temor no la venció, pero nunca
osó acometella, y ansi recibía con
ella tan grandes gustos, que á
trueque dellos no me pesaba
recebir los continuos dolores; y fuí
tan agradescida á la que mi
esperanza en tanta firmeza
sostenía, que no había pena que
viniesse de su mano que no la
tuviesse por alegría. Sus
reproches tenía por favores, sus
desdenes por caricias y sus
airadas respuestas por corteses
prometimientos.
Estas y otras razones passaron
Diana y Marcelio prosiguiendo su
camino. Acabado de travessar
aquel prado en muy dulce
conversación, y subiendo una
pequeña cuesta, entraron por un
ameno bosquecillo, donde los
espessos alisos hacían muy
apacible sombrío. Allí sintieron
una suave voz que de una dulce
lira acompañada resonaba con
extraña melodía, y parándose á
escuchar, conocieron que era voz
de una pastora que cantaba ansí:
Soneto.
Cuantas estrellas tieue el alto
cielo
fueron en ordenar mi
desventura,
y en la tierra no hay prado ni
verdura
que pueda en mi dolor
darme consuelo.
Amor subjecto al miedo, en
puro hielo
convierte el alma triste ¡ay,
pena dura!
que á quien fué tan contraria
la ventura,
vivir no puede un hora sin
recelo.
La culpa de mi pena es justo
darte
á ti, Montano, á ti mis quejas
digo,
alma cruel, do no hay
piedad alguna.
Porque si tú estuvieras de mi

Full Income Tax Fundamentals 2018 36Th Edition Whittenburg Solutions Manual PDF

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Full Income Tax Fundamentals 2018 36Th Edition Whittenburg Solutions Manual PDF

Uploaded by

Copyright:

Available Formats

Income Tax Fundamentals 2018 36th

Edition Whittenburg Solutions Manual

CAPITAL GAINS AND LOSSES

Group 1 – Multiple Choice Questions

1. E (LO 8.1) 12. B (LO 8.6, 8.7)

1. a. $11,000 short-term capital gain = $26,000 – $15,000.

2. Sears stock $10,000 – $13,000 = $3,000 long-term capital loss

4. $672,500 = $750,000 + $60,000 – $137,500. (LO 8.3)

5. a. $3,500 gain = $12,500 – $9,000

7. a. $50,000 gain = $120,000 + $45,000 + $35,000 – $150,000.

8. a. $126,900 = $35,000 + $100,000 – $8,100.

10. a. $20,000 = $37,000 – $17,000.

15. a. $47,000 realized gain ($148,000 – $9,000 – $7,000 – $85,000).

Department of the Treasury a

Name(s) shown on return Your social security number

August 14, 2017

1a Totals for all short-term transactions reported on Form

8a Totals for all long-term transactions reported on Form

13 Capital gain distributions. See the instructions . . . . . . . . . . . . . . . . . . 13

Group 2: Problem 3, cont.

Part III Summary

16 Combine lines 7 and 15 and enter the result . . . . . . . . . . . . . . . . . . 16 (2,000)

August 14, 2017

20 Are lines 18 and 19 both zero or blank?

• The loss on line 16 or

x No. Complete the rest of Form 1040 or Form 1040NR.

Schedule D (Form 1040) 2017

Group 2: Problem 3, cont.

8949 Sales and Other Dispositions of Capital Assets

August 11, 2017

500 shares Gold Co. 02/12/17 09/15/17 54,000 62,000 (8,000)

Group 2: Problem 3, cont.

August 11, 2017

4,000 shares Green Co. 06/04/06 08/05/17 12,000 3,000 9,000

5,000 shares Blue Co. 02/04/07 10/08/17 18,000 22,000 (4,000)

4797 Sales of Business Property OMB No. 1545-0184

August 22, 2017

Office equipment 07/01/15 03/15/17 13,000 3,000 19,000 (3,000)

Group 2: Problem 6, cont.

Property A Property B Property C Property D

August 22, 2017

24 Total gain. Subtract line 23 from line 20 . . . . . 24

Form 6252 Installment Sale Income

16. $304,000 realized gain = $368,000 – $22,000 – $42,000.

17. Section 1033(a) is not reproduced here.

18. See the answer to Problem 7.

Group 3 – Writing Assignment

Group 4 – Comprehensive Problems

Group 5 – Cumulative Software Problem

1040 Department of the Treasury—Internal Revenue Service (99)

America Los Rios 976 23 5132

Sacramento, CA 95841 Check here if you, or your spouse if filing

August 15, 2017

Comprehensive Problem 1, cont.

August 15, 2017

Joint return? See

Firm’s address a Phone no.

Comprehensive Problem 1, cont.

America Los Rios 976-23-5132

July 18, 2017

Comprehensive Problem 1, cont.

July 10, 2017

Comprehensive Problem 1, cont.