Question
Cassi (SSN 412-34-5670) has a cash-basis home cleaning business she runs as a sole proprietorship. The following are the results from business operations for the
Cassi (SSN 412-34-5670) has a cash-basis home cleaning business she runs as a sole proprietorship. The following are the results from business operations for the tax year 2021: Gross receipts $ 203,000 Business mileage: 27,000 (miles incurred ratably throughout the year) 35,000 miles total during the year 2021 Van (over 6,000 pounds) placed in service 1/01/2021, cost 27,000 Postage (500) Wages (26,000) Payroll taxes (1,950) Supplies (12,500) Phone (1,250) Internet service (600) Rent (2,400) Insurance (2,800) Van expenses (4,500) Business assets Date Purchased Cost Computer 1 5/18/21 $ 2,200 Computer 2 6/01/21 2,700 Printer 3/01/20 900 Copier 3/02/20 2,100 Furniture 3/01/20 6,000 Required: Determine Cassis self-employment income and QBI deduction. Prepare Schedule C and Schedule SE. 179 expense is elected on all eligible assets ( 179 was not taken on assets purchased last year). (Use Table 6A-1) Note: Input all the values as positive numbers. Use Rounded values for tax computation. Do not round other intermediate computations. Round your final answers to nearest whole dollar. Instructions can be found on certain cells within the forms.
Schedule C
QBI
Schedule SE
Form 4562 P1
Form 4562 P2
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