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COMPREHENSIVE PROBLEM ria A. Solo (SSN 318-01-6921) lives at 190 Glenn Drive, Grand Rapids, Michigan Maria (age 45 and single) claims her aunt, Selda Ray

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COMPREHENSIVE PROBLEM ria A. Solo (SSN 318-01-6921) lives at 190 Glenn Drive, Grand Rapids, Michigan Maria (age 45 and single) claims her aunt, Selda Ray (SSN 282-61-4011), as a a lives with Maria. Maria owns and operates the Reliable Drug Store at 1816 street in Grand Rapids, Michigan 49503-1902, in which she materially participates 49527-2005. ependent. Seld First Street in Grand Rapids, Michigan 49503-1902, in whic required, and Maria values the entire year. Her EIN is 38-9654321. Employer quarterly payroll tax returns were hied as her inventory at cost. The income statement for 2017 is reproduced met on the next page. Maria reports on the for an office in her home An accrual method, but uses the "direct write-of o compute bad debt expense. Her business code is 446110. She does not deduct expenses examination of Maria's business records reveals that the depreciable property includes furniture and fixtures , a delivery truck, and store equipment. The depreciation expense ts for depreciation for using the mentioned assets during 2017. Maria rounds calculations to the nearest dollar. shown on the 2017 income statement meets the income tax requiremen Miscellaneous expenses include the following: Reimbursement to Maria for actual expenses of a business trip ($256 for airfare and lodging, $70 for meals) Contributions to the Red Cross and United Way $326 350 125 amber of Commerce dues Personal electric bill for August Total miscellaneous expenses $881 Other income for Maria includes a salary of $100 each month for her services as a member of a working committee of the Drug Association. Her Form W-2 from the associatiorn shows gross wages of $1,200 and federal income tax withheld of $296. Through her work as an employee of the Drug Association, Maria is able to purchase her own full-year health insurance coverage. Thus, Maria is compliant with the ACA mandate. Maria also earned $320 in taxable interest. Maria made federal estimated tax payments totaling $5,000 during 2017. This amount is reported in the Payments section on Form 1040, page 2. Prepare Form 1040, and Schedules C, and SE for Maria Solo using the forms provided on the pages that follow. Maria does not want $3 to go to the Presidential election campaign fund. She signs her return on April 15, 2018

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