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Help with filling out a Schedule 1 form please!! John Rivera, age 71, is single and has no dependents. At the beginning of 2023, John
Help with filling out a Schedule form please!!
John Rivera, age 71, is single and has no dependents. At the beginning of 2023, John started his ou.n excavation business and named it Earth Movers. John lives at 1045 Center Street: Lindon, UT: and his business is located at 381 State Street: Lindon: UT. The Zip Code for both addresses Fee income for services rendered Buildin rental ense Office furniture and ul entrental Office su lies Utilities Sal for s Sal for e Payroll taxes F uel and oil for the ui Business meals Business entenainment During 2023 John recorded the following additional items: 36,000 9,000 2,500 4,000 34,000 42,000 7.000 21,000 10:ooo 10 ooo 2 3 4 5 6 7 S 10 , 000 Interest income from First National Bank S9 500 Dividends from ExxonMobil John contributed the maximum amount to a traditional IRA John incurred Section 1244 stock loss of$15:000_ Sale of ABC Inc. publicly traded stock on 11/15/2022 for $2,000 (originally purchased for on 3/15/2021) During the year: John invested $12000 into JKL limited partnership for the first time. His share of the limited partnership income for the year was and he received a S32000 distribution from JKL limited partnership. He is a passive partner. During the year: John imeted S 12000 into NINO limited partnership for the first time. His share of the limited partnership loss for the year was $6,000. He is a passive partner. Prepare the 2023 Federal income tax return for John. Ignore self-employment taxes. Take qualified business income deduction and standard deduction. Please submit the following items: (1) Cover page Mith the group/section number and the names of each group member (2) Fonn 1040: Schedule 1: Schedule B: Schedule C: Schedule D and Schedule E (3) Detailed calculation: includmg the ending at-risk amount and disallowed/non-deductible passive losses (if any) for limited partnerships.
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