HOW WOULD I FILL OUT A SCHEDULE C FORM WITH THE FOLLOWING INFORMATION:

C) SCHEDULE C Profit or Loss from a Business

1) Due to Andys expertise in Gulf of Mexico offshore operations, Pelican continues to use his services on a consulting basis. Consulting income paid by Pelican (including expense reimbursement) $35,000.

After each trip, Andy recovers his expenses when he is paid by Pelican for the services rendered. During 2021, he made seven trips on behalf of Pelican. On a typical trip, Andy flies by commercial airline to New Orleans, Houston, or Corpus Christi, and then takes a company helicopter to the offshore platform. The expenses for these trips are as follows: Airfare $ 5,100 Lodging 3,100 Meals 2,200 Ground trans. 750 Total $11,150

2) Sarah, an accomplished artist, is well-known regionally for oil portraits. She paints in the Photorealism style, providing her clients with portraits that are often mistaken for photographs. Painting in this style is very time-consuming. Consequently, her output averages between 15 and 16 portraits a year. Her fee of $4,000 per portrait was set several years ago and never varies. As this is quite reasonable for a Photorealistic oil portrait, she has a long waiting list of clients who have not yet been scheduled for sittings.

She does all the work in the studio the Clarks maintain in their personal residence. Sarah is a cash basis taxpayer with respect to her art business.

In early January 2022, Sarah was paid for three portraits she painted and delivered in late 2021. During 2022, Sarah completed 14 new portraits. Payment was received for 11 portraits when they were delivered to the buyers.

One portrait was delivered in mid-2021 to the CEO of a company who promised payment within 30 days. Payment was never received, and the company has since entered bankruptcy. Since the CEO has been indicted for securities fraud, Sarah feels certain that she will never be paid for the portrait.

The final 2 portraits were delivered in late 2021, and payments for both were received in early 2022.

Also, in December 2021, Sarah accepted $4,000 as payment for a portrait to be done in 2022. Sarah keeps receipts for all her expenses. Her total cost for painting supplies in 2022 was $3,010 (e.g., for canvases, brushes, oil paints, smocks, palettes, and other art supplies). The framing of the finished portrait is left to the customer.