I need to know line 13 (depreciation) and how it is calculated. Thanks!

ve Problem 8-1 Trish Himple owns a retail family clothing store. Her store is located at 4321 Heather Drive, Henderson, NV 89002. Her employer Identification number is 95-1234321 and her Social Security number is 123-45-6789. Trish keeps her books on an accrual basis. The income and expenses for the year are: $340,000 14,000 Gross sales Returns and allowances Expenses Beginning inventory (at cost) Add: purchases Cost of goods available for sale Less: ending inventory (at cost) Cost of goods sold $ 85,000 101,000 $186,000 71,000 Rent Insurance $115,000 24,400 2,000 5,000 56,400 Legal and accounting fees Payroll Payroll taxes Utilities 4,400 2,200 office supplies 750 Advertising 6,200 Trish's bookkeeper has provided the book-basis fixed asset roll forward to be used in computing the depreciation (see separate tab). For tax purposes, Trish elected out of bonus depreciation in all years except 2020. She did not elect immediate expensing in any year. The tax lives of the assets are the same as the book lives shown in the fixed asset schedule. The truck is not considered a passenger automobile for purposes of the luxury automobile limitations. Trish also has a qualified home office of 250 sq. ft. Her home is 2,000 sq. ft. Her 2015 purchase price and basis in the home, not including land, is $100,000 (the home's market value is $150,000). She incurred the following costs in 2020 related to the entire home: Utilities Cleaning $3,000 1,000 Insurance 1,100 2,000 Property taxes Required: Complete Trish's Schedule C, Form 1829, and Form 4562 (as necessary). Make realistic assumptions about any missing data. Enter all amounts as positive numbers. If an amount box does not require an entry or the answer is zero, enter "0". If required round any dollar amount to the nearest dollar. WO FOOD AS lowana Trish's bookkeeper has provided the following book-basis fixed asset rolforward. Mimple Retail Fixed Asset Rollforward 12/31/2020 (book basis) DEPR COST 2018 IN SERVICE METHOD LIFE BASIS DEPR 12/15/2018 SL S 9,900.00 165.00 9,900.00 165.00 2019 2020 ACCUM NET BOOK ASSET DEPR DEPR DEPR 1,980,00 CASH REGISTER 1.980.00 4,125.00 VALUE 5,775.00 5,775.00 2018 TOTAL ADDITIONS 1.980.00 1.980.00 4.125.00 RETAIL FIXTURES SL 7 226.19 678.57 904.76 9/12/2019 9/12/2019 4,750.00 3,900.00 FURNITURE SL 7 185.71 557.14 742.85 3,845.24 3.157.15 7,002.39 2019 TOTAL ADDITIONS 8,650.00 411.90 1.235.71 3,215.71 1,647.61 5,772.61 TOTAL 18,550.00 165.00 2,391.90 12,777.39 DELIVERY TRUCK SL 5 4,375.00 6/1/2020 6/1/2020 6/1/2020 4,375.00 991.67 DESK AND CABINETRY 33,125.00 10,908,33 37,500.00 11.900.00 2,800.00 SL 7 991.67 COMPUTER SL 5 326.67 326.67 2.47333 2020 TOTAL ADDITIONS 52,200.00 70,750.00 5,693.34 8,909.05 5,693.34 11,465.95 46,506.66 59,234.05 TOTAL 165.00 2,391.90 08 comprehensive Problem eBook 5 5 211,000 6 Gross profit. Subtract line 4 from line 3 Other income, including federal and state gasoline or fuel tax credit or refund (see Instructions). Gross Income. Add lines 5 and 6 6 7 7 211,000 18 750 19 19 Part 11 Expenses. Enter expenses for business use of your home only on line 30. 8 Advertising 8 6,200 18 Office expense (see instructions)... 9 Car and truck expenses (see Pension and pront-sharing plans... Instructions) 9 20 Rent or lease (see Instructions): 10 Commissions and fees ...... 10 a Vehicles, machinery, and equipment 11 Contract labor (see instructions) 11 b Other business property 200 20b 24,400 12 Depletion 12 21 21 Repairs and maintenance Supplies (not included in Part III). 22 22 23 Taxes and licenses 23 4,400 13 X 24 Travel and meals: 13 Depreciation and section 179 expense deduction (not included in Part II) (see instructions) 14 Employee benefit programs (other than on line 19)..... 15 Insurance (other than health) 24a a Travel b Deductible meals (see 14 15 2,000 Instructions) 24b 25 16 Interest (see instructions): Utilities 25 2,200 16 26 26 Wages (less employment credits) 56,400 a Mortgage (paid to banks, etc.) b Other 16b 27a Other expenses (from line 48) 27a ve Problem 8-1 Trish Himple owns a retail family clothing store. Her store is located at 4321 Heather Drive, Henderson, NV 89002. Her employer Identification number is 95-1234321 and her Social Security number is 123-45-6789. Trish keeps her books on an accrual basis. The income and expenses for the year are: $340,000 14,000 Gross sales Returns and allowances Expenses Beginning inventory (at cost) Add: purchases Cost of goods available for sale Less: ending inventory (at cost) Cost of goods sold $ 85,000 101,000 $186,000 71,000 Rent Insurance $115,000 24,400 2,000 5,000 56,400 Legal and accounting fees Payroll Payroll taxes Utilities 4,400 2,200 office supplies 750 Advertising 6,200 Trish's bookkeeper has provided the book-basis fixed asset roll forward to be used in computing the depreciation (see separate tab). For tax purposes, Trish elected out of bonus depreciation in all years except 2020. She did not elect immediate expensing in any year. The tax lives of the assets are the same as the book lives shown in the fixed asset schedule. The truck is not considered a passenger automobile for purposes of the luxury automobile limitations. Trish also has a qualified home office of 250 sq. ft. Her home is 2,000 sq. ft. Her 2015 purchase price and basis in the home, not including land, is $100,000 (the home's market value is $150,000). She incurred the following costs in 2020 related to the entire home: Utilities Cleaning $3,000 1,000 Insurance 1,100 2,000 Property taxes Required: Complete Trish's Schedule C, Form 1829, and Form 4562 (as necessary). Make realistic assumptions about any missing data. Enter all amounts as positive numbers. If an amount box does not require an entry or the answer is zero, enter "0". If required round any dollar amount to the nearest dollar. WO FOOD AS lowana Trish's bookkeeper has provided the following book-basis fixed asset rolforward. Mimple Retail Fixed Asset Rollforward 12/31/2020 (book basis) DEPR COST 2018 IN SERVICE METHOD LIFE BASIS DEPR 12/15/2018 SL S 9,900.00 165.00 9,900.00 165.00 2019 2020 ACCUM NET BOOK ASSET DEPR DEPR DEPR 1,980,00 CASH REGISTER 1.980.00 4,125.00 VALUE 5,775.00 5,775.00 2018 TOTAL ADDITIONS 1.980.00 1.980.00 4.125.00 RETAIL FIXTURES SL 7 226.19 678.57 904.76 9/12/2019 9/12/2019 4,750.00 3,900.00 FURNITURE SL 7 185.71 557.14 742.85 3,845.24 3.157.15 7,002.39 2019 TOTAL ADDITIONS 8,650.00 411.90 1.235.71 3,215.71 1,647.61 5,772.61 TOTAL 18,550.00 165.00 2,391.90 12,777.39 DELIVERY TRUCK SL 5 4,375.00 6/1/2020 6/1/2020 6/1/2020 4,375.00 991.67 DESK AND CABINETRY 33,125.00 10,908,33 37,500.00 11.900.00 2,800.00 SL 7 991.67 COMPUTER SL 5 326.67 326.67 2.47333 2020 TOTAL ADDITIONS 52,200.00 70,750.00 5,693.34 8,909.05 5,693.34 11,465.95 46,506.66 59,234.05 TOTAL 165.00 2,391.90 08 comprehensive Problem eBook 5 5 211,000 6 Gross profit. Subtract line 4 from line 3 Other income, including federal and state gasoline or fuel tax credit or refund (see Instructions). Gross Income. Add lines 5 and 6 6 7 7 211,000 18 750 19 19 Part 11 Expenses. Enter expenses for business use of your home only on line 30. 8 Advertising 8 6,200 18 Office expense (see instructions)... 9 Car and truck expenses (see Pension and pront-sharing plans... Instructions) 9 20 Rent or lease (see Instructions): 10 Commissions and fees ...... 10 a Vehicles, machinery, and equipment 11 Contract labor (see instructions) 11 b Other business property 200 20b 24,400 12 Depletion 12 21 21 Repairs and maintenance Supplies (not included in Part III). 22 22 23 Taxes and licenses 23 4,400 13 X 24 Travel and meals: 13 Depreciation and section 179 expense deduction (not included in Part II) (see instructions) 14 Employee benefit programs (other than on line 19)..... 15 Insurance (other than health) 24a a Travel b Deductible meals (see 14 15 2,000 Instructions) 24b 25 16 Interest (see instructions): Utilities 25 2,200 16 26 26 Wages (less employment credits) 56,400 a Mortgage (paid to banks, etc.) b Other 16b 27a Other expenses (from line 48) 27a