I need help with form 8995 on the missing lines please. thank you
Norman and Leslie Beber are married and file a joint return in 2019. They live at 12345 Hemenway Avenue, Marlborough, MA 01752 Norman is a self-employed tax preparer and his SSN is 412-34-5670. Leslie is a software programmer and her SSN is 412-34-5671. She had the following income and expenses for the year Leslie's W-25 Gross wages Social security tax Medicare tax Federal withholding tax State withholding tax $100,776 6,240 1.461 18,735 Norman was the sole proprietor of NAMA Tax Service. His business is located at 123 Main Street, Marlborough, MA 01752. and his business code is 541213. He had the following revenue and expenses (Cash basis: $80,000 Revenue Expenses Advertising Insurance Telephone office rent Utilities office supplies Depreciation 1,200 3.200 2.400 18,000 4,800 5,000 6,041(must be allocated to the S 1231 assets listed next) Norman had the following business assets: Office furniture: Purchased for $4,950 on May 20, 2017. The equipment is being depreciated over seven-year MACRS 200% declining balance. Norman sold it on May 15, 2019, for $4,000. Office equipment: Purchased a copier for $13,800 on January 10, 2019. The copler is being depreciated over five-year MACRS 200% declining balance. Norman makes no elections for $179 or bonus depreciation. Computer and equipment: Purchased a computer system for $8.900 on January 2, 2018. The computer is being depreciated aver five-year MACRS 200% declining balance. Norman makes no elections for $ 179 or bonus depreciation Norman and Leslie had the following other sources of income and deductions Interest from a CD in the amount of $1.410. Long-term loss carryover from 2018 of $5,000. Real estate taxes of $8,459. Home mortgage interest of $16.600. Charitable contributions in cash over the year of $2,500: all receipts and acknowledgments were received from the charitable organizations. Norman has made four (4) quarterly installments of $250 each as estimated taxes for 2019. All estimated tax payments were paid by the due date using the 1040-ES coupons. Form 8995 OM NO 1545-0123 Qualified Business Income Deduction Simplified Computation Allach to your tax return Go to www.ir gewiforms for instruction and the west Informatie 2019 Department of the Treasury Internal Revenue Service Name() shown on retum Norman and Leslier Beber Attachment Sequence No. 55 Mentifying number -K-XXX) (c) Qualified (a) Trade, business, or aggregation name income or 39,359 X En as negavel 3 4 TO 6 as negative E Total qualified business income or loss) Combine lines 11 through 1 column (c) Qualified business net (los) carryforward from the prior year Total qualified business income. Combine ines 2 and 3. If zero or less enter- Qualified business income component Multiply line 4 by 20% (020) Quated REIT dividends and publicly traded partnership (PTP) come aro) (seertructions Quated REIT dividends and qualified PTP (oss) carryforward from the prior year Tot qualified REIT dividends and PTP income. Combineines 6 and 7. zero or lessenter REIT and PTP component. Multiply line 8 by 20% (020) Qualified bunne income deduction before the income in Adnes Sand Taxable income before qualified business income deduction Net capital gain (see instructions Subtractine 12 from ine 11. If zero or less enter 6. Incomentation Mutiplyine 13 by 2050201 Qualled t o deduction Enter the lesser of 10 ore 14. Aho en on the line of your return 11 12 13 0 Enter as negative)
