Schedule C, Schedule SE (page 1), Schedule D, Form 8949, and Qualified Dividends and Capital Gains Tax Worksheet SCHEDULE SE OMB No

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Schedule C, Schedule SE (page 1), Schedule D, Form 8949, and Qualified Dividends and Capital Gains Tax Worksheet
SCHEDULE SE OMB No. 1545-0074
Self-Employment Tax
(Form 1040)
2020
Department of the Treasury > Go to www.irs.gov/ScheduleSE for instructions and the latest information. Attachment
Internal Revenue Service (99) > Attach to Form 1040, 1040-SR, or 1040-NR. Sequence No. 17
Name of person with self-employment income (as shown on Form 1040, 1040-SR, or 1040- | Social security number of person
NR) with self-employment income» 434-11-3311
Noah Arc
Part I Self-Employment Tax
Note: If your only income subject to self-employment tax is church employee income, see instructions for how to report your income and
the definition of church employee income.
A_ If you are a minister, member of a religious order, or Christian Science practitioner and you filed Form 4361, but you had $400 or
more of other net earnings from self-employment, check here and continue with PartI.... 0... 0... cc wee eee wee ee ee ee MP UO
Skip lines 1a and 1b if you use the farm optional method in Part II. See instructions.
la Net farm profit or (loss) from Schedule F, line 34, and farm partnerships, Schedule K-1 (Form 1065), box 14,
ok 0) 0 [= | rrr la
b If you received social security retirement or disability benefits, enter the amount of Conservation Reserve
Program payments included on Schedule F, line 4b, or listed on Schedule K-1 (Form 1065), box 20, code AH ( )
Skip line 2 if you use the nonfarm optional method in Part II. See instructions.
2 Net profit or (loss) from Schedule C, line 31; and Schedule K-1 (Form 1065), box 14, code A (other than
farming). See instructions for other income to report or if you are a minister or member of a religious order [
3 Combine lines 1a, 1b, and 2.2... . ee we ee ee ee ee ee ee ee te ee ee ee ete ees 3 | [
4a_ If line 3 is more than zero, multiply line 3 by 92.35% (0.9235). Otherwise, enter amount from line 3...... 4a [
Note: If line 4a is less than $400 due to Conservation Reserve Program payments on line 1b, see
instructions.
b If you elect one or both of the optional methods, enter the total of lines 15 and 17 here........ 4b
c Combine lines 4a and 4b. If less than $400, stop; you don't owe self-employment tax. Exception: If less
than $400 and you had church employee income, enter -0- and continue..............000000P [
5a_ Enter your church employee income from Form W-2. See instructions for
definition of church employee income... ...... 0... eee ee tee tee eee Sa
b Multiply line Sa by 92.35% (0.9235). If less than $100, enter -0-....... 0... ccc te eee ee te es Sb
6 Addlines 4cand 5b..... wc ee ee ee ee eee te ee eee eee ee eee eee ee eee ees 6 [
7 Maximum amount of combined wages and self-employment earnings subject to social security tax or the
6.2% portion of the 7.65% railroad retirement (tier 1) tax for 2020.1... .. 0... cee ew tw et ee 137,700
8a_ Total social security wages and tips (total of boxes 3 and 7 on Form(s) W-2) and
railroad retirement (tier 1) compensation. If $137,700 or more, skip lines 8b
through 10, and gotoline 11... .. 0. ce et ete eee eee 8a
b Unreported tips subject to social security tax from Form 4137, line 10........ fab}
c Wages subject to social security tax from Form 8919, line 10.............. pecf
d Add lines 8a, 8b, and 8c... 1. ee ee ee ee ee ee te eee ee ee eee ee ees sd
9 Subtract line 8d from line 7. If zero or less, enter -0- here and on line 10 and gotoline11.........> 9 [
10 Multiply the smaller of line 6 or line 9 by 12.4% (0.124)... te et ec ew tee eee / 10° [
11 Multiply line 6 by 2.9% (0.029)... cc cece cece cece cee eceeeeeeueuuennnneeeeteeevenvens {
12 Self-employment tax. Add lines 10 and 11. Enter here and on Schedule 2 (Form 1040), line 4...... )42 [
13 Deduction for one-half of self-employment tax.
Multiply line 12 by 50% (0.50). Enter here and on Schedule 1 (Form 1040),
Part II Optional Methods To Figure Net Earnings (see instructions)
Farm Optional Method. You may use this method only if (a) your gross farm income? wasn't more than $8,460,
or (b) your net farm profits? were less than $6,107.
14 Maximum income for optional methods ....... 2.0... cc ee ee tee ee we ee ee ee eee eee es (14 5,640
15 Enter the smaller of: two-thirds (2/3) of gross farm income? (not less than zero) or $5,640. Also, include this
amount on line 4b above... 1... cc ee ee ee ee ee ee ee ee eee we ee te ee ee ee et tees
Nonfarm Optional Method. You may use this method only if (a) your net nonfarm profits? were less than $6,107
| and also less than 72.189% of your gross nonfarm income,* and (b) you had net earnings from self-employment
of at least $400 in 2 of the prior 3 years. Caution: You may use this method no more than five times.........
16 Subtract line 15 fromline 14.0... ee ee ee ee ee eee et eee eee eee eee tees 16°
17 Enter the smaller of: two-thirds (2/3) of gross nonfarm income* (not less than zero) or the amount on line
16. Also, include this amount on line 4b above... 1... ee ee ee eee ee ee ee eee ee
a 17
1 From Sch. F, line 9: and Sch. K-1 (Form 1065), box 14, code B. 3 From Sch. C, line 31; and Sch. K-1 (Form 1065), box 14, code A.
2 From Sch. F, line 34; and Sch. K-1 (Form 1065), box 14, code A * From Sch. C, line 7; and Sch. K-1 (Form 1065), box 14, code C.
—minus the amount you would have entered on line 1b had you
not used the optional method.
For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 113582 Schedule SE (Form 1040) 2020
Schedule SE (Form 1040) 2020 Noah Arc 434-11-3311 Attachment Sequence No. 17 Page 2
Part III Maximum Deferral of Self-Employment Tax Payments
If line 4c is zero, skip lines 18 through 20, and enter -0- on line 21.
18 Enter the portion of line 3 that can be attributed to March 27, 2020, through December 31, 2020......... [
19 If line 18 is more than zero, multiply line 18 by 92.35% (0.9235); otherwise, enter the amount from line 18. )19° [
20 ‘Enter the portion of lines 15 and 17 that can be attributed to March 27, 2020, through December 31, 2020.. | 20 | [
21 Combine lines 19 and 20... cc ee ee eee ee eee eee ee ee ee eee eee ees Ey [
If line 5b is zero, skip line 22 and enter -0- on line 23.
22 Enter the portion of line 5a that can be attributed to March 27, 2020, through December 31, 2020........
23 Multiply line 22 by 92.35% (0.9235)... ccc ccc cece cc cecevecenveneneuunnuaunnunnannaneas Ey [
24 Addlines 21 and 23... .. cc ee ee ee ee ee ee eee eee ee ee eee eee eee eee ee eee 24 [
25. Enter the smaller of line 9 or line 24.0... ce ee ee eee eee eee eee eee eens 25 [
26 Multiply line 25 by 6.2% (0.062). Enter here and see the instructions for line 12e of Schedule 3 (Form 1040). 26 [
Schedule SE (Form 1040) 2020
Capital Gains and Losses
(Form 1040)
> Attach to Form 1040, 1040-SR, or 1040-NR. 2020
Department of the Treasury > Go to www.irs.gov/ScheduleD for instructions and the latest information. Attachment
Internal Revenue Service (99) > 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
Noah and Joan Arc 434-11-3311
Did you dispose of any investment(s) in a qualified opportunity fund during the tax year? 0D Yes O No
If "Yes," attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss.
Short-Term Capital Gains and Losses—Generally Assets Held One Year or Less (see instructions)
(h) Gain or
See instructions for how to figure the amounts to enter on the lines (9) (loss)
Adjustments to
below. 1 Subtract column
(d) (e) gain or loss from
(e) from column
Proceeds (sales | Cost (or other Form(s) 8949, d d bi
This form may be easier to complete if you round off cents to whole price) basis) Part I, line 2, (d) and com me
dollars. column (9) the result with
column (g)
la_ 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 gotolinelb........... cw ee eee we
1b Totals for all transactions reported on Form(s) 8949 with Box A
Checked... .. cc ee ee ewe te ee ee ees [
2 Totals for all transactions reported on Form(s) 8949 with Box B
Checked... . .. ec ee te ee te ee ee ete ee ae
3 Totals for all transactions reported on Form(s) 8949 with Box C
Checked... . .. cee ee ee ee eee eee eee eee ae
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 Ee
6 Short-term capital loss carryover. Enter the amount, if any, from line 8 of your Capital Loss Carryover
Worksheet in the instructions... 0... 0. ee ee ee ee ee eee eee eee ne ( )
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 [
Long-Term Capital Gains and Losses—Generally Assets Held More Than One Year (see instructions)
(h) Gain or
See instructions for how to figure the amounts to enter on the lines (g) (loss)
Adjustments to
below. 4 Subtract column
(d) (e) gain or loss from
(e) from column
Proceeds (sales | Cost (or other Form(s) 8949, d d bi
This form may be easier to complete if you round off cents to whole price) basis) Part II, line 2, (d) and combine
dollars. column (a) the result with
column (g)
8a_ Totals for all long-term transactions reported on Form 1099-B for
which basis was reported to the IRS and for which you have no
adjustments (see instructions). However, if you choose to report
all these transactions on Form 8949, leave this line blank and go
toline 8b... . ew ee es
8b_ Totals for all transactions reported on Form(s) 8949 with Box D
checked... .. cc ee ee ee ee ee et ee eee [
9 Totals for all transactions reported on Form(s) 8949 with Box E
checked... . cece te tee wee tee eee es
10 Totals for all transactions reported on Form(s) 8949 with Box F
11° Gain from Form 4797, Part I; long-term gain from Forms 2439 and 6252; and long-term gain or (loss) from 11
Forms 4684, 6781, and 8824... 0... ee ee ew ee ee ee ww ee ee eee eee ete es
12 Net long-term gain or (loss) from partnerships, S corporations, estates, and trusts from Schedule(s) K-1 )4az
13 Capital gain distributions. See the instructions .......... .. ce ew we eee eet ew ee eee eee tees /13- [
14 Long-term capital loss carryover. Enter the amount, if any, from line 13 of your Capital Loss Carryover
Worksheet in the instructions .. 0... 0... cc ew ee ee ee tt ee ee ee eee es qd
15 Net long-term capital gain or (loss). Combine lines 8a through 14 in column (h). Then, go to Part III on the
For Paperwork Reduction Act Notice, see your tax return instructions. Cat. No. 11338H Schedule D (Form 1040) 2020
| Schedule D (Form 1040) 2020 Noah and Joan Arc 434-11-3311 Page 2
Summary
16 Combine lines 7 and 15 and enter the result... 0... . ce te tw ee eee ee eee tee tee eee ) 16° [
e If line 16 is a gain, enter the amount from line 16 on Form 1040, 1040-SR, or 1040-NR, line 7. Then,
go to line 17 below.
e If line 16 is a loss, skip lines 17 through 20 below. Then, go to line 21. Also be sure to complete line
22.
e If line 16 is zero, skip lines 17 through 21 below and enter -0- on Form 1040, 1040-SR, or 1040-NR,
line 7. Then, go to line 22.
17 Are lines 15 and 16 both gains?
EB Yes. Go to line 18.
D No. Skip lines 18 through 21, and go to line 22.
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... 0... te we we te eee wee eee > [
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... ...... 0... ccc ec eeee rene eres >| 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 Forms
1040 and 1040-SR, line 16. Don't complete lines 21 and 22 below.
D 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, 1040-SR, or 1040-NR, line 7, the smaller of:
e The loss on line 16; or 24 ( )
e ($3,000), or if married filing separately, ($1,500) ' sree eee ee ee ee eee ee ee es
Note: When figuring which amount is smaller, treat both amounts as positive numbers.
22 Do you have qualified dividends on Form 1040, 1040-SR, or 1040-NR, line 3a?
D Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions for Forms
1040 and 1040-SR, line 16.
D No. Complete the rest of Form 1040, 1040-SR, or 1040-NR