Comprehensive Problem 8-1

Trish Himple owns a retail family clothing store. Her store is located at 4321 Heather Drive, Henderson, NV 89002. Her employer identification number is 95-1234321 and her Social Security number is 123-45-6789. Trish keeps her books on an accrual basis. The income and expenses for the year are:

Gross sales			$340,000
Returns and allowances			14,000
Expenses:
Beginning inventory (at cost)	$ 85,000
Add: purchases	101,000
Cost of goods available for sale	$186,000
Less: ending inventory (at cost)	71,000
Cost of goods sold			$115,000
Rent			24,400
Insurance			2,000
Legal and accounting fees			5,000
Payroll			56,400
Payroll taxes			4,400
Utilities			2,200
Office supplies			750
Advertising			6,200

Trish's bookkeeper has provided the book-basis fixed asset roll forward to be used in computing the depreciation (see separate tab). For tax purposes, Trish elected out of bonus depreciation in all years except 2020. She did not elect immediate expensing in any year. The tax lives of the assets are the same as the book lives shown in the fixed asset schedule. The truck is not considered a passenger automobile for purposes of the luxury automobile limitations.

Trish also has a qualified home office of 250 sq. ft. Her home is 2,000 sq. ft. Her 2015 purchase price and basis in the home, not including land, is $100,000 (the home's market value is $150,000). She incurred the following costs in 2020 related to the entire home:

Utilities	$3,000
Cleaning	1,000
Insurance	1,100
Property taxes	2,000

Trish's bookkeeper has provided the following book-basis fixed asset rollforward:

Himple Retail Fixed Asset Rollforward 12/31/2020 (book basis)
		DEPR		COST		2018	2019	2020		ACCUM		NET BOOK
ASSET	IN SERVICE	METHOD	LIFE	BASIS		DEPR	DEPR	DEPR		DEPR		VALUE
CASH REGISTER	12/15/2018	SL	5	9,900.00		165.00	1,980.00	1,980.00		4,125.00		5,775.00
2018 TOTAL ADDITIONS				9,900.00		165.00	1,980.00	1,980.00		4,125.00		5,775.00
RETAIL FIXTURES	9/12/2019	SL	7	4,750.00			226.19	678.57		904.76		3,845.24
FURNITURE	9/12/2019	SL	7	3,900.00			185.71	557.14		742.85		3,157.15
2019 TOTAL ADDITIONS				8,650.00		-	411.90	1,235.71		1,647.61		7,002.39
TOTAL				18,550.00		165.00	2,391.90	3,215.71		5,772.61		12,777.39
DELIVERY TRUCK	6/1/2020	SL	5	37,500.00				4,375.00		4,375.00		33,125.00
DESK AND CABINETRY	6/1/2020	SL	7	11,900.00				991.67		991.67		10,908.33
COMPUTER	6/1/2020	SL	5	2,800.00				326.67		326.67		2,473.33
2020 TOTAL ADDITIONS				52,200.00		-	-	5,693.34		5,693.34		46,506.66
TOTAL				70,750.00		165.00	2,391.90	8,909.05		11,465.95		59,284.05

What goes on line 13 schedule C?

What goes on line 17 Form 4562?

Thanks