I calculated this property transaction return tax but prof said I went downhill from part II step 1. Every calculation after that was compromised. Please help me correct it.

Dean and Ellen Price are married and have a manufacturing business. In 2019 Deam also sold various assets. The information about the selling price and depreciation of the property is listed below. They bought a piece of business equipment (7-year personal property) on 4/1/2018 for $50,000. Use half-year convention to calculate the MACRS depreciation deduction on the equipment for 2013 and 2019 Placed in Service / 2019 DED Accumulated Tax Basis= Initial as follows. For a 7-year property, it is in the MACRS table that year 1 is 14.29%. Therefore, the computation is Purchased sold on Initial Cost Amount Depreciation, "Dept, Allowed) Cost - Dep on Allowed Using straight line method: Office tables 10/16/2019 Year 2018 4/4/2018 For 52.900 $3,000 $375 5825 $2175 50,000 x 14.29% Office chairs 11/8/2019 Depreciation = Z = $3572.5 3/1/2015 For 54,000 $6,000 $1,000 52,200 $5800 For year 2, the percentage in the table is 24.49% Market able 12/1/2019 securities Year 2019 2/1/2019 For $20.000 $12,000 SO $12000 Land held for 11/29/2019 Depreciation = 50,000*24.49% = $12,245 investment 7/1/2018 For $48,000 545,000 SO SO $45000 They also has s pick-up truck used for business (6-year recovery period) acquired on 8/23/2018 for In 2019 Deam sold his wine collection for $9,000, which is bought two years ago for $8,000. $25.000. On 11/15/2019. he sold the pick-up truck for $24.000. Use the half-year convention to calculate the MACR'S depreciation on the truck for 2018 and 2019. They also has a short-term capital loss carryover of $10,000 from 2009. The MARCS' percentage, in this case that the truck will have half year depreciation on the first year of service and half year on the year of disposal and the other years in-between are done full depreciation, will be 20 % for year 1 and 32% for year 2. Year 2018, Depreciation =_ 25.000 # 209% = $2,500 Year 2019 Depreciation 50,000 x 32% = $4,000 Total depreciation = $2,500 + 4,000 = $6,500 On 10/26/2019 Dean sold his old storage building used for his business for $220,000. They purchased the building in 2001 for $100.000. Total depreciation (accumulated depreciation) taken on the building is $20.000. His 2019 Business income and expenditures (Schedule -C): Sales $ 657.500 Cost of goods sold $ 315,000 Other business expenses (incl. deprecation taken on the storage building) $ 140,000 He had gains/loss of $202,500.Part I: MACRS Depreciations and Adjusted Basis Part II. Summary Sheet for the Sales of Business Property (Form 4797) 2018: Step 1) Sales or Exchanges of Property Used in a Trade or Business (Held for More Than 1 Year) Date Date MACRS Rate Initial Cost 2018 MACRS Acquired Disposed (31 (4) Depreciation (2) Deduction Description Date Sold Tax Basis Gain or 5 = 224) Date Gross Accumulated of property acquired (2) (3) Sales Price Depreciation (loss) (4-6) (5) business 4/1/2018 NA 14.29% 50,0 00 $7145 (1) Equipment Pick-up Truck 10/1/201 11/15/2 20% $25000 $5000 Truck 10/1/2018 11/15/2019 | $24,000 $13000 $12000 $12000 019 Old storage | 2001 10/26/2019 | $220,000 $20,000 $80,000 $140,000 building 2019 Depreciation Wine 2017 2019 $9000 0 $8000 $1000 Date Date MACRS Rate Initial Cost 2019 MACRS Collection Acquired Disposed Depreciation Deduction Business 4/1/2018 | NA 24.49% 50,000 $12,245 Step 2] Ordinary Gains and Losses (incl. property held 1 year or less). Enter zero if not applicable. Equipment Description Date Date Sold Gross Sales Accumulated Adj. Basis Gain or Pick-up Truck (Sold during 10/1/201 11/15/2 32 9% $25,000 of property acquired Price Depreciation (loss) the year 019 2019 Tax Basis Step 3). Descriptions of Section 1245 property: Date Date Initia Cos Accumulated Tax Basis at year Acquired Disposed (3) Depreciation end 1) Description 2) 3) 5) 8) 7) Amount of Remaining (1) (2) (4) (5) = (3)-(4). Date Date Sold Gair Accumulated of property acquired Depreciation Gain Gain = reported as Business 4/1/2018 | NA 50,000 19390 30,610 Ordinary (4) - (8) Equipment (Lesser of 4 or 5) Pick-up Truck 10/1/201 11/15/2 $25,00 0 13000 12,000 Pickup 10/1/2018 11/15/2019 $12,000 13,000 12,000 0 019 truck Wine 2017 2019 $1000 $1000 Collection 2019 Net Schedule-C Business income 184, 880 Office 4/4M8 10/16/19 725 825 725 Tables Office 3/1/2015 11/8/2019 0 $2,20 0 0 chairs 3 (8) Net the gains/loss in A S, C.D_ 137253 (b) Total Amount reported on (6) above:_ 12725 3 (c) = 3(8) - 3(b) _1000 (Remaining Section 1231 Gain) (Part II. continued)_Summary Sheet for the Sales of Business Property Step 4. Description of Section 1250 property 1) 5) Description 2) Date 3) Date Sold 4) Gain Depreciation 8) Unrecaptured 7) Remaining of property acquired allowed $1250 Gain. Gain = (Accumulated (4) - (6) Depreciation) Old 2001 10/26/2019 $140,000 $20,000 $35, 000 $105, 000 Storage Building 4(8) = Remaining Section 1231 Gain from 3(c): _1000 4(b): Total Unrecaptured $1250 Gain on 8) above_35000 4(c) = 4(8) - 4(b)At. Part IV: Netting Process Part Ill. Summary Sheet on the Sales of Capital Assets (Form 8949) Short-term Capital Gains Long-term Capital Gain (LTCG) 1). Short-term and Loss Carry-overs Description Date Date Sold Gross Sales Depreciation Cost Basis Gain or $10,000 of property Collectibles acquired Price Unrecaptured Net Sec. 1231 allowed loss) Gain Other Long- $ 1250 Gain term capital Marketable gain securities 12/1/19 20,000 12,000 8, 000 Net the Short-term Capital Gain or Losses above = $2000 2) Long-term $35000 $1000 $118,900 Description Date Date Sold Gross Sales | Depreciation | Cost Basis Gain or of property acquired Price allowed Truck 10/1/2018 11/15/2019 $24,000 $13,000 $25,000 -$1000 Use the above amount to Old Storage | 2001 10/26/2019 $220,000 $20,000 $100,000 $120,000 net against Collectibles. Building Unrecaptured Sec. 1250 Gain, LTCG, etc. on the Wine 2017 2019 $9000 0 $8000 $1000 Collection right Office Table 4/4/18 10/16/19 $2,900 $825 $3,000 $100 Office Net Capital Gain: 126.900 chairs 3/1/18 11/8/19 $4,000 $2200 $8,000 -$4000 Land held for investment 7/1/18 1 1/29/19 $48.0010 $45.000 $3. 000 Summary for Capital Gains and Losses: 1.Net Short-term totals $ 8000 2. Net Long-term totals $118, 900Part V. Self-Employment Tax Computation 2019 Net Schedule-C income (from page 2): 184,980 2019 Self-Employment Tax Social security tax = (The lesser of Net Sch-C income or $132 8001-12.4%%, round up to nearest dollar.16479.6 Medicare tex = (Net Schedule-C business income)*02.35% 2.9%, round up to nearest dollar:4951.4 Total Self-Employment Tex = 2:1.431 Part VI. Income Tax Computation A Net Capital Gains (NOG from page 6): 126,900 B. Other Gains (the amount for Part II 3(b) on page 31: 12725 C. Taxpayer's AGI (Net Schedule-C income, NOG, Other Gains, less one-half of Self-employment tax) AGI: (Net Schedule-C Income): 184880 D. Taxable Income before Qualified Business Income Deduction (AGI - 2010 Standard Deduction for Married Filing Jointly): The standard deduction for Married Filing Jointly is $24,400 for 2018. Therefore: 184,880 - 24,400 = 160,480 E. Qualified Business Income Deduction (see page 2): 160,480 * 20% = 32,096 F: Taxable income: (F=D-E) = 160,480- 32,096 = 128,384 G. Tax Computation 1) Tax on Capital Gains: 15% x $118, 900 = 17,835 25% x $118, 900 = 29,725 28% x $1 18, 900 = 33,292 2) Tex based on tax rate schedule Y-1 (Taxable income (F) - NOG): 128,384 3) Total Self-Employment Tax from Part 1: 21,431 Add G (1), G (2) and G (3), this is their total tax: 80,852