can someone please check if my answer is correct?
Retum Preparadon suomalu. N o 103 A. Only income reported on Form 1099- MISC and Form 1099-K from the ride share company 10. What income must Ramon report on Schedule C, Profit or Loss From Business? For the purpose of these scenario questions only, ignore the VITA/TCE total business expense limitation for Schedule C. B. $22,463 A. $0 False 11. What is Ramon's mileage expense deduction (at the standard mileage rate) for his business as a ride share driver? (Round to the nearest dollar.) 12. What is the amount that Ramon can deduct as student loan interest on Form 1040, Schedule 1? 13. Ramon's self employment tax is added to his other taxes on Form 1040, Schedule 2, and one half of the self employment tax is shown as an adjustment to income on Schedule 1. 14. Ramon's Qualified Business Income (QBI) deduction is $0 because he has no taxable income before the QBI deduction 15. Ramon is too young to qualify for the earned income credit without having a qualifying child. True True Return Preparation: Ramon Taos Directions Using the tax software, complete the tax return, including Form 1040 and all appropriate forms, schedules, or worksheets. Answer the questions following the scenario. Note: When entering Social Security numbers (SSNS) or Employer Identification Numbers (EINs), replace the Xs as directed, or with any four digits of your choice. For the purpose of those scenario questions only, ignore the VITA TCE total business expense limitation for Schedule C. Interview Notes Rambn works as a self-employed ride share driver. - Ramon is a cash-basis taxpayer who materially participates in the operation of his business. He did not make any payments that would require him to file Form 1099. Ramon uses business code 485990. - Ramon had no prior year unallowed losses. He received Form 1099-MISC and Form 1099-K from the ride share company. He had an additional $2,745 in cash tip income from individual customers NOT included on the Forms 1099. Ramon provided a statement from the ride share company that indicated the amount of mileage driven and fees paid for the year. These fees are considered ordinary and necessary for the ride share business. - 30,200 miles driven while transporting customers. - Ride share fee: $4,800 - Safe driver fee: $140 - Airport fee: $515 - GPS device fee: $320 Ramon's recordkeeping application shows he drove 5,830 miles between rides; 2.700 miles driven between his home and his first and last customer of the day. He had the following miscellaneous expenses: - Snacks for customers: $280 - Auto deodorizers: $15 - Phone chargers for customer use only: $120 - Meals eaten while waiting for customers: $1,200 Ramon works as a self-employed ride share driver. - Ramon is a cash-basis taxpayer who materially participates in the operation of his business. He did not make any payments that would require him tole Form 1099. Ramon uses business code 485990 - Ramon had no prior year unallowed losses He received Form 1099-MISC and Form 1099-K from the rideshare company. He had an additional $2,745 in cash tip income from Individual customers NOT included on the Forms 1099 Ramon provided a statement from the ride share company that indicated the amount of mileage driven and fees paid for the year. These fees are considered ordinary and necessary for the ride share business. - 3.200 miles driven while transporting customers. - Ride share fee: $4.800 - Safe driver fee: $140 - Airport fee: $515 - GPS device fee: $320 Ramon's recordkeeping application shows he drove 5,830 miles between rides 2.700 miles driven between his home and his first and last customer of the day. He had the following miscellaneous expenses: - Snacks for customers: $280 - Auto deodorizers: $15 - Phone chargers for customer use only: $120 Meals eaten while waiting for customers $1.200 The total mileage on his car for 2019 was 44,730 miles of that 6,000 was personal miles. He placed his car, a 2016 sedan, in service on January 6, 2017. He always takes the standard mileage rate. This is Ramon's only car and it was available for personal use. Ramon found his Form 1098-E online stating he paid $3,600 in student loan interest in 2019. MacBook Air 80 H Retum Preparadon suomalu. N o 103 A. Only income reported on Form 1099- MISC and Form 1099-K from the ride share company 10. What income must Ramon report on Schedule C, Profit or Loss From Business? For the purpose of these scenario questions only, ignore the VITA/TCE total business expense limitation for Schedule C. B. $22,463 A. $0 False 11. What is Ramon's mileage expense deduction (at the standard mileage rate) for his business as a ride share driver? (Round to the nearest dollar.) 12. What is the amount that Ramon can deduct as student loan interest on Form 1040, Schedule 1? 13. Ramon's self employment tax is added to his other taxes on Form 1040, Schedule 2, and one half of the self employment tax is shown as an adjustment to income on Schedule 1. 14. Ramon's Qualified Business Income (QBI) deduction is $0 because he has no taxable income before the QBI deduction 15. Ramon is too young to qualify for the earned income credit without having a qualifying child. True True Return Preparation: Ramon Taos Directions Using the tax software, complete the tax return, including Form 1040 and all appropriate forms, schedules, or worksheets. Answer the questions following the scenario. Note: When entering Social Security numbers (SSNS) or Employer Identification Numbers (EINs), replace the Xs as directed, or with any four digits of your choice. For the purpose of those scenario questions only, ignore the VITA TCE total business expense limitation for Schedule C. Interview Notes Rambn works as a self-employed ride share driver. - Ramon is a cash-basis taxpayer who materially participates in the operation of his business. He did not make any payments that would require him to file Form 1099. Ramon uses business code 485990. - Ramon had no prior year unallowed losses. He received Form 1099-MISC and Form 1099-K from the ride share company. He had an additional $2,745 in cash tip income from individual customers NOT included on the Forms 1099. Ramon provided a statement from the ride share company that indicated the amount of mileage driven and fees paid for the year. These fees are considered ordinary and necessary for the ride share business. - 30,200 miles driven while transporting customers. - Ride share fee: $4,800 - Safe driver fee: $140 - Airport fee: $515 - GPS device fee: $320 Ramon's recordkeeping application shows he drove 5,830 miles between rides; 2.700 miles driven between his home and his first and last customer of the day. He had the following miscellaneous expenses: - Snacks for customers: $280 - Auto deodorizers: $15 - Phone chargers for customer use only: $120 - Meals eaten while waiting for customers: $1,200 Ramon works as a self-employed ride share driver. - Ramon is a cash-basis taxpayer who materially participates in the operation of his business. He did not make any payments that would require him tole Form 1099. Ramon uses business code 485990 - Ramon had no prior year unallowed losses He received Form 1099-MISC and Form 1099-K from the rideshare company. He had an additional $2,745 in cash tip income from Individual customers NOT included on the Forms 1099 Ramon provided a statement from the ride share company that indicated the amount of mileage driven and fees paid for the year. These fees are considered ordinary and necessary for the ride share business. - 3.200 miles driven while transporting customers. - Ride share fee: $4.800 - Safe driver fee: $140 - Airport fee: $515 - GPS device fee: $320 Ramon's recordkeeping application shows he drove 5,830 miles between rides 2.700 miles driven between his home and his first and last customer of the day. He had the following miscellaneous expenses: - Snacks for customers: $280 - Auto deodorizers: $15 - Phone chargers for customer use only: $120 Meals eaten while waiting for customers $1.200 The total mileage on his car for 2019 was 44,730 miles of that 6,000 was personal miles. He placed his car, a 2016 sedan, in service on January 6, 2017. He always takes the standard mileage rate. This is Ramon's only car and it was available for personal use. Ramon found his Form 1098-E online stating he paid $3,600 in student loan interest in 2019. MacBook Air 80 H