complete the following schedule C

Note: This problem is for the 2018 tax year. Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant with Mesa Manufacturing Company, 1203 Western Avenue, Mesa, AZ 85201 (employer identification number 11-1111111). She also writes computer software programs for tax practitioners and has a part-time tax practice. Beth is single and has no dependents. Beth's birthday is July 4, 1972, and her Social Security number is 123-45-6785. She wants to contribute $3 to the Presidential Election Campaign Fund. The following information is shown on Beth's Wage and Tax Statement (Form W-2) for 2018. Line Description Wages, tips, other compensation Federal income tax withheld Social Security wages Social Security tax withheld Medicare wages and tips Medicare tax withheld State State wages, tips, etc. State income tax withheld Amount $65.000.00 10,500.00 65,000.00 4,030.00 65,000.00 942.50 Arizona 65,000.00 1,954.00 17 During the year, Beth received interest of $1,300 from Arizona Federal Savings and Loan and $400 from Arizona State Bank. Each financial institution reported the interest income on a Form 1099-INT. She received qualified dividends of $800.from Blue Corporation, $750 from Green Corporation, and $650 from Orange Corporation has comparation.copotted Bell payments on a Form 1099-DIV. Beth received a $1,100 income tax refund from the state of Arizona on April 29, 2018. On her 2017 Federal income tax return, she reported total itemized deductions of $8,200, which included $2,200 of state income tax withheld by her employer. Fees earned from her part-time tax practice in 2018 totaled $3,800. She paid $600 to have the tax returns processed by a computerized tax return service. On February 8, 2018, Beth bought 500 shares of Gray Corporation common stock for $17.60 a share. On September 12, 2018, Beth sold the stock for $14 a share. Beth bought a used sport utility vehicle for $6,000 on June 5, 2018. She purchased the vehicle from her brother-in-law, who was unemployed and was in need of cash. On November 2, 2018, she sold the vehicle to a friend for $6,500. On January 2, 2018, Beth acquired 100 shares of Blue Corporation common stock for $30 a share. She sold the stock on December 19, 2018, for $55 a share. Both stock transactions were reported to Beth on Form 1099-B; basis was not reported to the IRS. During the year, Beth records revenues of $16,000 from the sale of a software program she developed. Beth incurred the following expenses in connection with her software development business. Cost of personal computer Cost of printer Furniture Supplies Fee paid to computer consultant $7,000 2,000 3,000 3,500 Beth elected to expense the maximum portion of the cost of the computer, printer, and furniture allowed under the provisions of $ 179. These items were placed in service on January 15, 2018, and used 100% in her business. Although her employer suggested that Beth attend a convention on current developments in corporate taxation, Beth was not reimbursed for the travel expenses of $1,420 she incurred in attending the convention. The $1,420 included $200 for the cost of meals. During the year, Beth paid $300 for prescription medicines and $2,875 for doctor interest to credit card bills and hospital bills. Medical insurance premiums were paid for her by her employer. Beth paid real property taxes of $1,766 on her home. Interest on her home mortgage (Valley National Bank) was $3,845, and interest to credit card companies was $320. Beth contributed $2,080 to various qualifying charities during the year. Professional dues and subscriptions totaled $350. Beth paid estimated taxes of $1,000. Required: Compute the net tax payable or refund due for Beth R. Jordan for 2018. You will need Form 1040, (and its Schedules 1, 4, 5, B, C, D, and SE) and Forms 4562 and 8949 and the Qualified Dividends and Capital Gain Tax Worksheet. Make realistic assumptions about any missing data. . If an amount box does not require an entry or the answer is zero, enter"0". . Enter all amounts as positive numbers, unless instructed otherwise. It may be necessary to complete the tax schedules before completing Form 1040. When computing the tax liability, do not round your immediate calculations. If required round your final answers to the nearest dollar. Use the 2018 Tax Rate Schedule provided. Do not use the Tax Tables. OM NA 1545-004 SCHEDULEC (Form 1040) Profit or Loss From Business Sole Proprietorship Go to www.rsgow Schedule for instructions and the latest information Attach to Form 1040, 1040NR, or 1041 partnerships generally must file Form 10 2018 09 by number (SSN A Principal business or profession, olding product or service de intructions) C Business name. If no separate business name, leave bank 0000 000 E Business address Phoeding autor room ) ............. . City, town or post offices and IP code Accounting method: (1) Cash Accrual other specity Did you materially participate in the operation of this business during 2018? if "No," se instructions for imiton losses H i f you started or acquired this business during 2018. check here . . . 10997 se instructions. . Did you make any payments in 2018 that would require you to file Form . "Yes" did you or will you required Forms 10997 Part Income 1 Gross receipts or sales See instructions for line 1 and check the box if this income was reported to you on Form W-2 and the "Statutory employee box on that form was checked. . . - - - - - Reums and allowances - - - - - - Subtract line 2 from line 1 . . . . . . . . . . . . . . 4 Cost of goods sold from line 423 - - . . . . . . - Gross profit. Subtract line 4 from line 3 . . 6 Other income, including federal and state gasoline or fuel tax credit or refunds instructions - - - - 7 Gross income. Add lines and Part II Expenses. Enter expenses for business use of your home only on line 30. Advertising. 18 - . 18 Otice experiene instructions 9 Car and truck expenses see 19 Pension and profit sharing plans 20 Rent or lease see instructions 10 Commissions and fees 10 a Vehicles, machinery, and equipment 20a 11 Contract labore instruction 11 Other business property.. . 12 Depleton - 21 Repairs and maintenance. . 13 Depreciation and section 179 22 Supplies not included in Part I). expense deduction (not included in Parts 23 Taxes and licenses.. . .. 23 Instructors 24 Travel and meals: - 14 Employee benefit programs a Travel. . . . - - 24 fother than on line 19) Deductible mais see 15 Insurance (other than healthy instructions . 24b 16 interest (see instructions: 25 Utilities * Mortgage paid to banks, etc.) 16a 26 Wages (less employment credits). 26 b Other . . . 16b 278 Other expenses from line 48) 27a 17 Legal and professional services 17 b Reserved for future use. 27b 23 Total expenses before expenses for business use of home. Add lines 8 through 27a. 28 29 Tentative profit or loss). Subtract line 28 from line 7. . 30 Expenses for business use of your home. Do not report these expenses elsewhere. Attach Form 8829 unless using the simplified method (see Instructions Simplified method filers only: enter the total square footage of your home: and by the part of your home used for business: _ Use the Simplified Method Worksheet in the instructions to figure the amount to enter on line 30 31 Net profit or loss). Subtract line 30 from line 29 . If a profit, enter on both Schedule 1 (Form 1040), line 12 for Form 1040NR, line 13 and on Schedule SE. line 2. (Myou checked the box on line 1, See instruction Estates and trusts, enter on Form 1041, line 3. . Maloss, you must go to line 32 32 you have a loss, check the box that describes your investment in this activity (see instructions) . you checked 32a, enter the loss on both Schedule 1 (Form 1040), line 12 for Form 1040NR. line 13 and on Schedule SE, line 2. of you checked the box on line 1, see the line 31 instructions). 32a Estates and trusts, enter on Form 1041, line 3 32 . If you checked 32b, you must attach Form 6196. Your loss may be limited For Paperwork Reduction Act Notice, see the separate instructions. Cat. No. 11334P 15 Al investment is at risk. Some Investment is not at risk. Schedule Form 1040) 2018 Part Cost of Goods Soldsee instructions 33 Method used to Was there any change in de n gan costs, or valuations between opening and closing invertory? Purcha s cost of them withdrawn for personal use. . . y Cost of bor. Do not include any amous paid to yourse... 40 Address through 39 ... . . 41 Invertory and off year. . . . . . . . . . Cost of goods sold. Subtract line 41 from line 40. Enter the result here and on line 4. . Part IV Information on Your Vehicle Complete this part only if you are claiming car or truck expenses on line 9 and are not required to file Form 4562 for this business. See the instructions for line 13 to find out if you must file Form 4562 43 When did you place your vehicle in service for business purposes?month day, year 44 of the total number of miles you drove your vehicle during 2018, enter the number of miles you used your vehicle for: Business Commuting (e instructions) ............................ Other ........ 45 Was your vehicle available for personal use during of duty hours? Yes 46 Do you for your spouse) have another vehicle available for personal use. Yes OOO 47 Do you have evidence to support your deduction? . Part "Yes" is the evidence written? Other Expenses. List below business expenses not included on lines 8-26 or line 30. 43 Total other expenses. Enter here and on line 27a . . . . . . . . . . . . . . . . 48 Schedule for 1049, 2018 Note: This problem is for the 2018 tax year. Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant with Mesa Manufacturing Company, 1203 Western Avenue, Mesa, AZ 85201 (employer identification number 11-1111111). She also writes computer software programs for tax practitioners and has a part-time tax practice. Beth is single and has no dependents. Beth's birthday is July 4, 1972, and her Social Security number is 123-45-6785. She wants to contribute $3 to the Presidential Election Campaign Fund. The following information is shown on Beth's Wage and Tax Statement (Form W-2) for 2018. Line Description Wages, tips, other compensation Federal income tax withheld Social Security wages Social Security tax withheld Medicare wages and tips Medicare tax withheld State State wages, tips, etc. State income tax withheld Amount $65.000.00 10,500.00 65,000.00 4,030.00 65,000.00 942.50 Arizona 65,000.00 1,954.00 17 During the year, Beth received interest of $1,300 from Arizona Federal Savings and Loan and $400 from Arizona State Bank. Each financial institution reported the interest income on a Form 1099-INT. She received qualified dividends of $800.from Blue Corporation, $750 from Green Corporation, and $650 from Orange Corporation has comparation.copotted Bell payments on a Form 1099-DIV. Beth received a $1,100 income tax refund from the state of Arizona on April 29, 2018. On her 2017 Federal income tax return, she reported total itemized deductions of $8,200, which included $2,200 of state income tax withheld by her employer. Fees earned from her part-time tax practice in 2018 totaled $3,800. She paid $600 to have the tax returns processed by a computerized tax return service. On February 8, 2018, Beth bought 500 shares of Gray Corporation common stock for $17.60 a share. On September 12, 2018, Beth sold the stock for $14 a share. Beth bought a used sport utility vehicle for $6,000 on June 5, 2018. She purchased the vehicle from her brother-in-law, who was unemployed and was in need of cash. On November 2, 2018, she sold the vehicle to a friend for $6,500. On January 2, 2018, Beth acquired 100 shares of Blue Corporation common stock for $30 a share. She sold the stock on December 19, 2018, for $55 a share. Both stock transactions were reported to Beth on Form 1099-B; basis was not reported to the IRS. During the year, Beth records revenues of $16,000 from the sale of a software program she developed. Beth incurred the following expenses in connection with her software development business. Cost of personal computer Cost of printer Furniture Supplies Fee paid to computer consultant $7,000 2,000 3,000 3,500 Beth elected to expense the maximum portion of the cost of the computer, printer, and furniture allowed under the provisions of $ 179. These items were placed in service on January 15, 2018, and used 100% in her business. Although her employer suggested that Beth attend a convention on current developments in corporate taxation, Beth was not reimbursed for the travel expenses of $1,420 she incurred in attending the convention. The $1,420 included $200 for the cost of meals. During the year, Beth paid $300 for prescription medicines and $2,875 for doctor interest to credit card bills and hospital bills. Medical insurance premiums were paid for her by her employer. Beth paid real property taxes of $1,766 on her home. Interest on her home mortgage (Valley National Bank) was $3,845, and interest to credit card companies was $320. Beth contributed $2,080 to various qualifying charities during the year. Professional dues and subscriptions totaled $350. Beth paid estimated taxes of $1,000. Required: Compute the net tax payable or refund due for Beth R. Jordan for 2018. You will need Form 1040, (and its Schedules 1, 4, 5, B, C, D, and SE) and Forms 4562 and 8949 and the Qualified Dividends and Capital Gain Tax Worksheet. Make realistic assumptions about any missing data. . If an amount box does not require an entry or the answer is zero, enter"0". . Enter all amounts as positive numbers, unless instructed otherwise. It may be necessary to complete the tax schedules before completing Form 1040. When computing the tax liability, do not round your immediate calculations. If required round your final answers to the nearest dollar. Use the 2018 Tax Rate Schedule provided. Do not use the Tax Tables. OM NA 1545-004 SCHEDULEC (Form 1040) Profit or Loss From Business Sole Proprietorship Go to www.rsgow Schedule for instructions and the latest information Attach to Form 1040, 1040NR, or 1041 partnerships generally must file Form 10 2018 09 by number (SSN A Principal business or profession, olding product or service de intructions) C Business name. If no separate business name, leave bank 0000 000 E Business address Phoeding autor room ) ............. . City, town or post offices and IP code Accounting method: (1) Cash Accrual other specity Did you materially participate in the operation of this business during 2018? if "No," se instructions for imiton losses H i f you started or acquired this business during 2018. check here . . . 10997 se instructions. . Did you make any payments in 2018 that would require you to file Form . "Yes" did you or will you required Forms 10997 Part Income 1 Gross receipts or sales See instructions for line 1 and check the box if this income was reported to you on Form W-2 and the "Statutory employee box on that form was checked. . . - - - - - Reums and allowances - - - - - - Subtract line 2 from line 1 . . . . . . . . . . . . . . 4 Cost of goods sold from line 423 - - . . . . . . - Gross profit. Subtract line 4 from line 3 . . 6 Other income, including federal and state gasoline or fuel tax credit or refunds instructions - - - - 7 Gross income. Add lines and Part II Expenses. Enter expenses for business use of your home only on line 30. Advertising. 18 - . 18 Otice experiene instructions 9 Car and truck expenses see 19 Pension and profit sharing plans 20 Rent or lease see instructions 10 Commissions and fees 10 a Vehicles, machinery, and equipment 20a 11 Contract labore instruction 11 Other business property.. . 12 Depleton - 21 Repairs and maintenance. . 13 Depreciation and section 179 22 Supplies not included in Part I). expense deduction (not included in Parts 23 Taxes and licenses.. . .. 23 Instructors 24 Travel and meals: - 14 Employee benefit programs a Travel. . . . - - 24 fother than on line 19) Deductible mais see 15 Insurance (other than healthy instructions . 24b 16 interest (see instructions: 25 Utilities * Mortgage paid to banks, etc.) 16a 26 Wages (less employment credits). 26 b Other . . . 16b 278 Other expenses from line 48) 27a 17 Legal and professional services 17 b Reserved for future use. 27b 23 Total expenses before expenses for business use of home. Add lines 8 through 27a. 28 29 Tentative profit or loss). Subtract line 28 from line 7. . 30 Expenses for business use of your home. Do not report these expenses elsewhere. Attach Form 8829 unless using the simplified method (see Instructions Simplified method filers only: enter the total square footage of your home: and by the part of your home used for business: _ Use the Simplified Method Worksheet in the instructions to figure the amount to enter on line 30 31 Net profit or loss). Subtract line 30 from line 29 . If a profit, enter on both Schedule 1 (Form 1040), line 12 for Form 1040NR, line 13 and on Schedule SE. line 2. (Myou checked the box on line 1, See instruction Estates and trusts, enter on Form 1041, line 3. . Maloss, you must go to line 32 32 you have a loss, check the box that describes your investment in this activity (see instructions) . you checked 32a, enter the loss on both Schedule 1 (Form 1040), line 12 for Form 1040NR. line 13 and on Schedule SE, line 2. of you checked the box on line 1, see the line 31 instructions). 32a Estates and trusts, enter on Form 1041, line 3 32 . If you checked 32b, you must attach Form 6196. Your loss may be limited For Paperwork Reduction Act Notice, see the separate instructions. Cat. No. 11334P 15 Al investment is at risk. Some Investment is not at risk. Schedule Form 1040) 2018 Part Cost of Goods Soldsee instructions 33 Method used to Was there any change in de n gan costs, or valuations between opening and closing invertory? Purcha s cost of them withdrawn for personal use. . . y Cost of bor. Do not include any amous paid to yourse... 40 Address through 39 ... . . 41 Invertory and off year. . . . . . . . . . Cost of goods sold. Subtract line 41 from line 40. Enter the result here and on line 4. . Part IV Information on Your Vehicle Complete this part only if you are claiming car or truck expenses on line 9 and are not required to file Form 4562 for this business. See the instructions for line 13 to find out if you must file Form 4562 43 When did you place your vehicle in service for business purposes?month day, year 44 of the total number of miles you drove your vehicle during 2018, enter the number of miles you used your vehicle for: Business Commuting (e instructions) ............................ Other ........ 45 Was your vehicle available for personal use during of duty hours? Yes 46 Do you for your spouse) have another vehicle available for personal use. Yes OOO 47 Do you have evidence to support your deduction? . Part "Yes" is the evidence written? Other Expenses. List below business expenses not included on lines 8-26 or line 30. 43 Total other expenses. Enter here and on line 27a . . . . . . . . . . . . . . . . 48 Schedule for 1049, 2018