For this tax return you are to use the information in Tax Return 2, Barbara Gonzalez. Required for this tax return is that you calculate the QBI deduction Qualified Business income deduction. You do not have to calculate the self-employment tax or the deduction but you must include them on the tax return. I will give you the numbers. Page 2 of Form 1040 line 7 will be line 6 less the deduction for one half of the self-employment tax. The number you should include in line 7 is $85,442. LIne 9 of Form 1040 is for you to calculate. Please include an additional page in which you show me how you calculated QBI deduction. Clearly label what each of the numbers are, in other words, your calculation should not just include numbers, but what each number represents. Line 14 is other taxes, this is where self-employment tax goes. The amount is $12953. Schedule 1 line 27 is $6,477 and is also included in line 36 Schedule 4, lines 57 and 64 are $12,953 Complete Schedule 5 on your own. Because you are now including the QBI deduction, the self-employment tax deduction, and the self employment tax some numbers will change such as the taxable income and the tax. Your job is to complete the revised tax return using what you have learned in Chapter 4 plus what amounts I have already given you. Here is what you must submit: FORM 1040 (THIS IS ALWAYS REQUIRED!) SCHEDULE 1 SCHEDULE 4 SCHEDULE 5 CALCULATION OF THE QBI DEDUCTION CLEARLY LABELED SCHEDULE C IS NOT REQUIRED, BUT YOU MUST OF COURSE, INCLUDE THE SCHEDULE C INCOME WHICH YOU WILL KNOW BASED ON PREPARING TAX RETURN 2 AND THE SOLUTION I PROVIDED TO TAX RETURN 2.