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Chapter 6 TRP 6-1 Cassi (SSN 412-34-5670) has a home cleaning business she runs as a sole proprietorship. The following are the results from business
Chapter 6 TRP 6-1 Cassi (SSN 412-34-5670) has a home cleaning business she runs as a sole proprietorship. The following are the results from business operations for the tax year 2022: Gross receipts $ 203,000 Business mileage: 27,000 (miles incurred ratably throughout the year) 35,000 miles total during the year 2022 Van (over 6,000 pounds) placed in service 1/01/2022, 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 5/18/22 $ 2,200 Computer 2 6/01/22 2,700 Printer 3/01/21 900 Copier 3/02/21 2,100 Furniture 3/01/21 6,000 Required: Determine Cassis self-employment income and QBI deduction
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