I've been working on my tax forms for 2 days and I need help making sure my answers are correct.

SCHEDULE C Profit or Loss From Business OMB No. 1545-0074 (Form 1040 or 1040-SR) (Sole Proprietorship) 2019 Department of the Treasury Go to www.irs.gov/ScheduleC for instructions and the latest information. Attachment nternal Revenue Service (99) _ Attach to Form 1040, 1040-SR, 1040-NR, or 1041; partnerships generally must file Form 1065. Sequence No. 09 Name of proprietor Social security number (SSN) A Principal business or profession, including product or service (see instructions) B Enter code from instructions C Business name. If no separate business name, leave blank. D Employer ID number (EIN) (see instr.) Business address (including suite or room no.) City, town or post office, state, and ZIP code Accounting method: (1) Cash (2) Accrual (3) Other (specify) Did you "materially participate" in the operation of this business during 2019? If "No," see instructions for limit on losses Yes No -IO T If you started or acquired this business during 2019, check here . Did you make any payments in 2019 that would require you to file Form(s) 1099? (see instructions) Yes No If "Yes," did you or will you file required Forms 1099? Yes No Part | Income 1 Gross receipts or sales. See instructions for line 1 and check the box if this income was reported to you on Form W-2 and the "Statutory employee" box on that form was checked . Returns and allowances W N Subtract line 2 from line 1 Cost of goods sold (from line 42) 4 Gross profit. Subtract line 4 from line 3 6 Other income, including federal and state gasoline or fuel tax credit or refund (see instructions) Gross income. Add lines 5 and 6 Part II Expenses. Enter expenses for business use of your home only on line 30 B Advertising . 8 18 Office expense (see instructions) 18 CO Car and truck expenses (see 19 Pension and profit-sharing plans 19 instructions). 9 20 Rent or lease (see instructions): 10 Commissions and fees 10 a Vehicles, machinery, and equipment 20a 11 Contract labor (see instructions) 11 b Other business property 20b 12 Depletion . 12 21 Repairs and maintenance . 21 13 Depreciation and section 179 22 Supplies (not included in Part III) . 22 expense deduction (not included in Part III) (se 23 Taxes and licenses . 23 instructions) . 13 24 Travel and meals: 14 Employee benefit programs a Travel . . 24a (other than on line 19) . 14 b Deductible meals (see 15 Insurance (other than health) 15 instructions) . 24b 16 Interest (see instructions): 25 Utilities 25 a Mortgage (paid to banks, etc.) 16a 26 Wages (less employment credits). 26 b Other 16b 27a Other expenses (from line 48) . 27a 17 Legal and professional services 17 Reserved for future use 27b 28 Total expenses before expenses for business use of home. Add lines 8 through 27a . 28 Tentative profit or (loss). Subtract line 28 from line 7 . 29 Expenses for business use of your home. Do not report these expenses elsewhere. Attach Form 8829 unless using the simplified method (see instructions). Simplified method filers only: enter the total square footage of: (a) your home: and (b) the part of your home used for business:_ . Use the Simplified Method Worksheet in the instructions to figure the amount to enter on line 30 30 31 Net profit or (loss). Subtract line 30 from line 29 If a profit, enter on both Schedule 1 (Form 1040 or 1040-SR), line 3 (or Form 1040-NR, line 13) and on Schedule SE, line 2. (If you checked the box on line 1, see instructions). Estates and 31 trusts, enter on Form 1041, line 3. If a loss, you must go to line 32. 32 If you have a loss, check the box that describes your investment in this activity (see instructions). . If you checked 32a, enter the loss on both Schedule 1 (Form 1040 or 1040-SR), line 3 (or Form 1040-NR, line 13) and on Schedule SE, line 2. (If you checked the box on line 1, see the line 32a All investment is at risk. 31 instructions). Estates and trusts, enter on Form 1041, line 3. 32b Some investment is not If you checked 32b, you must attach Form 6198. Your loss may be limited at risk. For Paperwork Reduction Act Notice, see the separate instructions. Cat. No. 11334P Schedule C (Form 1040 or 1040-SR) 2019Schedule C (Form 1040 or 1040-SR) 2019 Page 2 Part III Cost of Goods Sold (see instructions) 33 Method(s) used to value closing inventory a Cost b Lower of cost or market c Other (attach explanation) 34 Was there any change in determining quantities, costs, or valuations between opening and closing inventory? If "Yes," attach explanation . Yes No 35 Inventory at beginning of year. If different from last year's closing inventory, attach explanation . 35 36 Purchases less cost of items withdrawn for personal use 36 37 Cost of labor. Do not include any amounts paid to yourself . 37 38 Materials and supplies 38 39 Other costs . 39 40 Add lines 35 through 39 40 41 Inventory at end of year 41 42 Cost of goods sold. Subtract line 41 from line 40. Enter the result here and on line 4 . 42 Part IV Information on Your Vehicle. Complete this part only if you are claiming car or truck expenses on line 9 and are not required to file Form 4562 for this business. See the instructions for line 13 to find out if you must file Form 4562. 43 When did you place your vehicle in service for business purposes? (month, day, year) 14 Of the total number of miles you drove your vehicle during 2019, enter the number of miles you used your vehicle for: Business b Commuting (see instructions) c Other 15 Was your vehicle available for personal use during off-duty hours? Yes No 46 Do you (or your spouse) have another vehicle available for personal use?. Yes No 47a Do you have evidence to support your deduction? Yes No b If "Yes," is the evidence written? Yes No Part V Other Expenses. List below business expenses not included on lines 8-26 or line 30 48 Total other expenses. Enter here and on line 27a 48 Schedule C (Form 1040 or 1040-SR) 2019COMPREHENSIVE PROBLEM Dan M. and Cheryl A. Peters are married, file a joint return, and have no children. Dan, age 45, is an independent contractor working in pharmaceutical sales and Cheryl, age 42, is a nurse at a local hospital. Dan's SSN is 400-20-0000 and Cheryl's SSN is 200-40-0000 and they reside at 2033 Palmetto Drive, Atlanta, GA 30304. Dan is paid according to commissions from sales, and he has no income tax or payroll tax withholdings. Dan oper- ates his business from his home office. During 2019, Dan earned total commissions in his business of $125,000. Cheryl earned a salary during 2019 of $45,400, with the following withholdings: $6,000 federal taxes, $1,800 state taxes, $2,815 OASDI (Social Security), and $658 Medicare taxes. During 2019, Dan and Cheryl had interest income from corporate bonds and bank ac- counts of $1,450 and qualified dividends from stocks of $5,950. Dan also actively trades stocks and had the following results for 2019: LTCG $4,900 LTCL (3,200) STCG STCL (7,800) He had no capital loss carryovers from previous years. Basis for the stocks were re- ported to the IRS by the brokerage firm. Dan does a considerable amount of travel in connection with his business and uses his own car. During 2019, Dan drove his car a total of 38,000 miles, of which 32,000 were business related. He also had business-related parking fees and tolls during the year of $280. Dan uses the mileage method for deducting auto expenses. Dan also had the follow- ing travel expenses while away from home during the year: Hotel $4,200 Meals 820 Entertainment of customers 1,080 Tips 100 Laundry and cleaning 150 Total $6,350 Dan uses the simplified method to deduct expenses for his office-in-home. His office measures 15 feet by 12 feet in size. Cheryl incurred several expenses in connection with her nursing job. She paid $450 in professional dues, $200 in professional journals, and $350 for uniforms. Dan and Cheryl had the following other expenditures during the year: Health insurance premiums (after-tax) $ 4,400*Health insurance premiums (after-tax) $ 4,400 Doctor bills 470 Real estate taxes on home 6,800 Personal property taxes 1,400 Mortgage interest-all deductible 7,400 Charitable contributions-cash 9,000 Charitable contributions-Apple stock owned for 5 years: FMV $8,000 Adjusted basis 2,000 Tax preparation fees ($250 allocated to Dan's business) 750 * Paid by Dan in connection with his business