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Phil Dunphy $($SSN $987-65-4321)$ is single and has a eleven$-$year$-$old son, Luke who lives with him nine months of the year in a rented condominium at $999$ Main Street in Sioux City, Iowa. Luke lives with his mother, Phil's ex$-$wife, during the summer months. Sadly, she left Phil for a fireman named Les McBurney. Luke's mother provides more than half of Luke's support and Phil has agreed to allow her to claim Luke as her dependent. Phil has a salary of $$52,000$ and itemized deductions of $$9,000.$ Taxes withheld during the year amount to $$5,275.$ Phil received a K$-1$ from a partnership indicating that his share of the partnership STCL is $$700.$ On July $14$ of the current year, he sold the following assets where all transactions were reported on Form$($s$)1099-$B showing basis was reported to the IRS:

Land was sold for $$30,500.$ The land was received as a property settlement on January $10,2012,$ when the land's FMV amounted to $$41,000.$ His ex$-$wife's basis for the land, purchased on January $10,2004,$ was $$29,600.$

A personal$-$use computer acquired on July ${14}^{th}$ last year for $$6,000.$ Because the computer had the latest NVIDIA GPU, it was sold for $$7,780.$

A lifetime membership card for pizza at Pizza Ranch was sold for $$9,400.$ The card was acquired on September $10,2006,$ for $$10,900.$

Marketable securities held as an investment were sold for $$45,000.$ The securities were inherited from his uncle Mitchell, who died sadly on March $10$ of the current year from excessive snobbery. On the uncle's date of death, the FMV of the securities was $$22,000$ the uncle had purchased the securities on May $10,1995,$ for $$10,700.$

$125$ common shares of Tesla stock held as an investment were sold for $$20,000.$ The common shares of Tesla stock were purchased by Phil on October $23,2020,$ for $$240$ per share. On July ${31}^{st}$ of the current year, Phil heard a rumor that Tesla was about to secure a major order to provide $100,000$ cars to Hertz rental car. He bought $100$ common shares of Tesla stock for $$170$ in anticipation that the stock would go up when the order was announced.

In addition to the above sales, Phil received a $$300$ refund of state income taxes paid last year. Phil used the standard deduction last year to compute his tax liability. He had no transactions involving virtual currency. Prepare forms $1040,8949,$ schedule D and Qualified Dividends and Capital Gains Tax worksheet for the current year.

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