Second bank saving account interest

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Reference no: EM13849492

Lynn and Laurie are married and have two children, Josh (15 years old) and Julie (19 years old). Laurie works for Fox Corporation as a drilling superintendent. Lynn runs an internet business, Handy Hints, from their home that provides handyman advice.

During 2014, they received the following interest and dividends:

Second Bank saving account interest $200

Marble School district bonds 180

Saber Corporation bonds 1,900

Hi-Flow Corporation dividends (qualifying) 450

In addition, they sold the following investments during the year:

Security

Sale Date

Purchase Date

Sales Price

Commission Paid

Basis

Doonbeg Inc.

03/19/14

04/12/13

$8,000

$40

$8,980

Troon Corporation

06/12/14

09/10/11

$11,000

$250

$7,850

Augusta Motors

10/10/14

04/11/12

$6,000

$50

$6,870

The Form 1099 Lynn and Laurie received from their broker indicated total sales of $24,660 (i.e., sales were reported net of commissions).

Required:  Based on the information provided above, only fill out appropriate portion of From 1040, From 1040 Schedule B, and From 1040 Schedule D.

Reference no: EM13849492

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