Complete a $2023$ tax return using the attached information.

Hank and Shelly Buster are married and wish to file a joint tax return. Hank works as an accountant at RF Accounting Services. Shelly worked as an interior designer.

Home Address: $287$ Edgewood Rd$,$ Green Bay, WI $54302$

Hank's wages $32,000$

Federal Income Tax Withheld $2,500$

State Income Tax Withheld $1,000$

Interest Income from M&I $75$

Ordinary Dividend Income $($E$-$Trade$)450$

Property Taxes $2,800$

Mortgage Interest $7,000$

Federal estimated tax payments made in $20237,000$

Hank's birthdate & SSN $12/5/1973454-99-3773$

Shelly's birthdate & SSN $8/22/1974452-92-4724$

Business Owner: Shelly Buster $-36-8574147$

Business Name: Shelly's Interior Design

Business Activity: Service

Product or Service: Interior Design

Date Business Started: $7/1/2012$

Business Address: $859$ Clark Lane, Green Bay, WI $54304$

Business Code: $541400$ Accounting Method: Cash

Inventory Valuation: Cost

Debit Credit

Cash $60,000$

Inventory $5,000$

Property$/$Plant$/$Equipment $40,000$

Accumulated Depreciation $7,500$

Accounts Payable $1,500$

Buster, Drawing $5,000$

Buster, Capital $77,450$

Interior Design Revenue $35,000$

Sales $60,000$

Interest Income $($from Bank Mutual$)750$

Purchases $30,000$

Purchases Returns & Allowances $3,000$

Advertising Expense $4,600$

Depreciation Expense $8,000$

Rent Expense $18,000$

Office Supplies Expense $3,200$

Office Expense $3,700$

Charitable Contributions $1,500$

Legal Fees Expense $4,200$

Accounting Fees Expense $2,000$

$185,200185,200$

Beginning Inventory $5,000$

Property$/$Plant$/$Equipment

Date Date Sales

Purchased Cost Sold Price

Equipment $11/1/201710,00011/30/202320$

Machinery $8/1/201825,00010/3/20235,000$

Computer $10/1/20182,000$

Computer $7/25/20193,000$

Equipment $10/31/202320,000$

Equipment $11/15/202315,000$

Shelly also used her personal vehicle, a Honda CRV she purchased on $1-2-12$

for her business. Her business miles were $5,700$ miles.

She uses the standard mileage rate when deducting vehicle expenses.