The Gaytors own a rental beach house in Hawaii. It was rented for the full year during 2024 and was not used by the Gaytors during the year. The Gaytors were active participants in the management of the rental house but the activity is not eligible for a QBI deduction. Pertinent information about the rental house is as follows: Address: 1237 Pineapple St., Lihue, HI 96766. Gross rental income: 21,000. Mortgage Interest: 9,100. Real estate taxes: 2,800. Utilities: 1,500. Cleaning: 2,600. Repairs: 600. The house is fully depreciated so there is no depreciation expense. Albert and Allison received the following combined statements from their investment manager(See attachment). The Gators sold 100 shares of Banana Company on July 31, 2024 and the following day purchased 100 shares at a cost of $2,100. They Gaytors held no shares of Banana Company at year end. On January 12, 2024, Albert and Allison sold their personal residence and purchased a new house for $725,000. Selling costs totaled $54,000. The house they sold was their personal residence before and after the divorce (they have lived in it together for three years since remarrying). The sold house cost $120,200 back in January of 2011 and the Gaytors added on a new bedroom and bathroom a few years ago for a cost $20,300. They also built a pool for a cost of $61,400. They moved into their new horse on January 19, 2024. TASK: With this information, edit and add to the 2024 task return for Albert and Allison.
2024 Combined Forms 1099
This is important tax information and is being furnished to the IRS (except as indicated). If you are required to file a return, a neglizence penalty or other sanction may be imposed on you if this income is taxable and the IRS determines that it has not been reported.
Copy B For Reclpient
Fortress Securities
OMB No. 1545-0110
40 Wall Street, \( 24{ }^{\text {th }} \) Floor
New York, NY 10005
Albert \& Allison Gaytor
Account Number
Tax ID
2345661234
***-**-1966
4100 SE Lincoln Road
Payer's Federal Tax ID
Stuart, FL 34997
32-9863145
Financial Adviser/Phone
George Edmonson 888-555-1212
\begin{tabular}{|l|l|l|l|l|l|l|l|}
\hline \multicolumn{8}{|c|}{\multirow{2}{*}{\begin{tabular}{l}
Form 1099-B \\
Box 6: Gross Proceeds \\
Box 5: Not checked \\
Box 3: Basis reported to IRS
\end{tabular}}} \\
\hline & & & & & & & \\
\hline \multicolumn{2}{|r|}{\begin{tabular}{l}
Box 1 Security \\
Quantity sold description (CUSIP)
\end{tabular}} & Box 1b Date acquired & Box 1c Date sold or disposed & Box 1d Proceeds & Box 1e Cost or other basis & Box 1g Wash sale loss disallowed & Gain/(Loss) amount \\
\hline \multicolumn{8}{|c|}{} \\
\hline Banana Company & 100 & 07/17/2023 & 07/31/2024 & & 4,200.00 & w & (2,000.00) \\
\hline Grape Corp & 100 & 12/18/2023 & 09/01/2024 & & 10,500.00 & - & (1,500.00) \\
\hline Bonds & 5 & 12/13/2014 & 01/02/2024 & 5,100.00 & 5,415.00 & - & (315.00) \\
\hline Peach Fund & 5,011.23 & 05/30/2015 & 08/22/2024 & 60,300.00 & 56,000.00 & - & 4,300.00 \\
\hline Banana Company & 100 & 08/01/2024 & 12/ FILER'S name, street address, city or town, state or province, country, ZIP or foreign postal code, and telephene numberFor calengar year \( 20 \underline{24} \)3 Address (ncluding city, state, and ZIP code) or legal description
12860 79th Ave.
Sebastian, FL 32958Copy B For Transferor
This is important tax
information and is being
furnished to the IRS. If
you are required to fie a rebum, a regligence penalty or other sanction may be
imposed on you if this item is required to be reported and the IRS
cletermines that it has
nat been reported.4 Transferor received or will receive property or services as part of the consideration (? checked) .5 If checked, transferer is a foreign person (norresident alen, foreign partnership, foreign estate, or foreignCity or tawn, state or province, country, and ZIP or foreign postal code
Stuart, FL 34997trust ) . . . . . . . . . . . . .
