I have this property transaction tax return computed but it said I was wrong in some parts. I included all details for basis of analysis. What is wrong in the computation?

Dean and Ellen Price are married and have a manufacturing business. They bought a piece of business equipment 0year personal property) on 4f1t201t'. for $50,000. Use ha llyear conveniion to calculate the MACRS depreciation deduction on the equipment for 2018 and 2019 For a Tyear properly, it is in the MACRS table that year 1 is 14-29%- 111erefore, the computation is as follows- Using straight line method: Year 2013 50.000 x 14.29% Depreciation =f = $35715 For year 2, the percentage in the table is 20.49% Year 2019 Depreciation = 50,000*24.49% = $12,245 They also E a pickup truck used for business (feyear recovery period) acquired on 01232018 for $25,000. On 11I15f2019, he sold the pickup tmck for $24,000. Use the halfyear convention to calculate the MACRS depreciation on the truck for 201-3 and 2019. The MARCS' percentage, in this case that the truck will have hall year depreciation on the rst year of service and half year on the year of disposal and the other years irI-between are done full depreciation, 1will be 20% for year 1 and 32% for year 2. Year 2013, Depreciation = w = $2,500 Year 2019 _ _ 50.000 a: 32% Depreclation =f = $11,000 Total depreciation = $2,500 + 4,000 = $6,500 On 1032612019 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. Property Transactions Return Name: Class time: In 2019 Dean also sold various assets. The information about the selling price and depreciation of the property is listed below. Placed in Service / 2019 Deer Accumulated Purchased Sold on Initial Cost Depreciation. Tax Basis= Initial Amount Cost - Deer on Repr. Allowed) Allowed Office tables 10/16/2019 4/4/2018 For $2,900 $3,000 $375 $825 $2175 Office chairs 11/8/2019 3/1/2015 For $4,000 $8,000 $1,000 $2,200 $5800 Marketable 12/1/2019 securities 2/1/2019 For $20,000 $12,000 SO SO $12000 Land held for 11/29/2019 investment 7/1/2018 For $48,000 $45,000 SO $45000 In 2019 Dean sold his wine collection for $9,000, which is bought two years ago for $8,000. They also has a short-term capital loss carryover of $10,000 from 2009.Part I: MACRS Depreciations and Adjusted Basis 2018: Date Date MACRS Rate Initial Cost 2018 MACRS Acquired Disposed (3) (4) Depreciation (1) (2) Deduction (5) = (3)(4) Business 4/1/2018 N/A Equipment 14.29% 50,000 $7145 Pick-up Truck 10/1/201 11/15/2 20% $25,000 $5000 8 019 2019 Depreciation Date Date MACRS Rate Initial Cost 2019 MACRS Acquired Disposed Depreciation Deduction Business 4/1/2018 |N/A 24.49% 50,000 $12,245 Equipment Pick-up Truck 11/15/2 32% $25,000 $8000 Sold during 10/1/201 the year) 8 019 2019 Tax Basis Date Date Initial Cost Accumulated Tax Basis at year Acquired Disposed (3) Depreciation end (1) (2) (4) (5) = (3)-(4). Business 4/1/2018 N/A 50,000 19390 Equipment 30,610 Pick-up Truck 10/1/201 11/15/2 $25,000 13000 12,000 8 019 2019 Net Schedule-C Business income 184, 880Part II. Summary Sheet for the Sales of Business Property {Form 4797) Step 1] Sales or Exchanges of Property Used in a Trade or Business [Held for More man 1 Year} Description Date Date Sold Gross Accumulated Tax Basis Gain or of property acquired (2} (3) Sales Price 091309613110\" (6) (loss) {46) (1) (4) 15} Truck 1 0.112018 1 1/ 151' 2019 $24,000 $ 13000 $ 12000 $12000 Old storage 2001 1 012612019 $220,000 $20,000 $80,000 $140,000 building Oice 3'25 Table 4.141201 3 $2300 $825 $2175 1 01' 1 61201 9 Oice 4800 Chair 100201 5 $4000 $2,200 $5800 1 1181201 9 Step 2) Ordinary Gains and Losses {in-cl. property held 1 year or less}. Enter zero if not applicable. Description Date Date Sold Gross Sales Accumulated Adj. Basis Gain or of property acquired Price Der-retiation (loss) 0 0 0 0 0 0 0 Step 3). Descriptions of Section 1245 property: 1) 2) 3) 4) 5) 6} 7) Description Date Date Sold Gain Accumulated Amount of Remaining 01 pmperty acquired Depreciation Gain Gain 2 reported as Ordinary (4) - (5) (Lesser of 4 0r 5) Pickup 1011120113 1111512019 $12,000 13,000 12,000 D truck Step 3). Descriptions of Section 1245 property: 1) 2) 3) 4) 5) 6) 7) Description Date Date Sold Gain Accumulated Amount of Remaining of property acquired Depreciation Gain Gain = reported as Ordinary (4) - (6) (Lesser of 4 or 5) Pickup 10/1/2018 11/15/2019 | $12,000 13,000 12,000 0 truck Wine 2017 2019 $1000 0 0 $1000 Collection Office 4/4/18 10/16/19 725 825 725 0 Tables 4 Property Transactions Return Name: Class time: Office 3/1/2015 11/8/2019 -1800 $2,200 0 -1800 chairs 3 (a) Net the gains/loss in A B, C,D: 11,925 3 (b) Total Amount reported on (6) above: 12,725 3 (c) = 3(a) -3(b) (Remaining Section 1231 Gain)= 11925 - 12725 = -800(Part II. continued)_Summary Sheet for the Sales of Business Property Step 4. Description of Section 1250 property 1) 2) 3) 4) 5) 6) 7) Description Date Date Sold Gain Depreciation Unrecaptured Remaining of property acquired allowed $1250 Gain. Gain = (Accumulated Depreciation) (4) - (6) Old 2001 10/26/2019 $140,000 $20,000 $35, 000 $105, 000 Storage Building 4(a) = Remaining Section 1231 Gain from 3(c): -800 4(b): Total Unrecaptured $1250 Gain on 6) above: 35000 4(c) = 4(a) - 4(b) =-800 - 35000 =-38000Part III. Summary Sheet on the Sales of Capital Assets (Form 8949) 1}. Shortterm E Description Date Date Sold Gross Sales Depreciation Cost Basis Gain or of property acquired Price allowed (loss) Marketa ble securities 2i1i19 121'1119 20,000 0 12,000 8' 000 2) Longterm Description Date Date Sold Gross Sales Depreciation Cost Basis Gain or of property acquired Price allowed (loss) Tmck 10m2013 1 1l15i2019 $24,000 $13,000 $25,000 -$1000 Old Storage 2001 10i26i2019 $220,000 $20,000 $100,000 $120,000 Building Wine 2017 2019 $9000 0 $3000 $1000 Collection Oflice Table #018 10i10i19 $2,900 $025 $3,000 4100 Ofce chairs 3W1 8 1 1IBI19 $4,000 $2200 $8,000 -$4000 Land held for investment mm! 11i29i19 $43,000 0 $45,000 $3, 000 Summary for Capital Gains and Losses: 1_Net Shortterm totals $ 8000 2. Net Longterm totals $118, 900 Part IV: Netting Process Short-term Capital Gains Long-term Capital Gain (LTCG) and Loss Carry-overs $10,000 Collectibles Unrecaptured Net Sec. 1231 Other Long- $ 1250 Gain Gain term capital gain Net the Short-term Capital Gain or Losses above = $8000 $35000 $1000 $118,900 Use the above amount to net against Collectibles, Unrecaptured Sec. 1250 Gain, LTCG, etc. on the right Net Capital Gain: 126,900Part VI. Income Tax Computation A. Net Capital Gains (NCG from page 6): 126,900 B. Other Gains (the amount for Part II 3(b) on page 3)- 12725 C. Taxpayer's AGI (Net Schedule-C income, NCG, Other Gains, less one-half of Self-employment tax) AGI: (Net Schedule-C Income): 184, 880 D. Taxable Income before Qualified Business Income Deduction (AGI - 2019 Standard Deduction for Married Filing Jointly): The standard deduction for Married Filing Jointly is $24,400 for 2019. Therefore: 184,880 - 24,400 = 160,480 E. Qualified Business Income Deduction (see page 8): 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 $118, 900 = 33,292 2) Tax based on tax rate schedule Y-1 (Taxable income (F) - NCG): 128,384 3) Total Self-Employment Tax from Part V - 21,431 Add G (1), G (2) and G (3), this is their total tax: 80,852