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Jane Curtain owns Janes Window Fashions, a small window treatment business. In 2021 she reported to you the following: Sales $ 200,000 Cost of sales

Jane Curtain owns Janes Window Fashions, a small window treatment business. In 2021 she reported to you the following:

Sales

$ 200,000

Cost of sales

Jane only buys merchandise upon sales

100,000

Administrative costs:

Rent

20,000

Phone and internet

2,000

Utilities

2,700

Insurance

1,200

Health insurance

6,000

Car expenses (other than depreciation)

12,000

In 2021 Jane purchased a new Land Rover for $100,000. She used it 75% for business. She would like to take Bonus Depreciation.

In 2021 Jane purchased some installation equipment (5 year life) for 5,000

In 2021 Jane had the following stock sales.

Name

Purch date

Purch Amount

Sale Date

Sale amount

Dapple Inc

1/15/1980

7,000

5/15/2021

10,000

WestEast

7/15/2015

6,000

6/15/2021

9,000

GreenAcre

6/30/2021

12,000

9/30/2021

10,000

Jane received a dividend of $500 from Dapple. The ex-dividend date was 3/20/2021.

Jane received a $1,000 dividend from GreenAcre. The ex-dividend date was 7/15/2021.

Jane did not receive a dividend from Greenacre 2021.

Jane is single with no children. She owns no cryptocurrency.

Jane made 4 equal payments of $5,000 each (total $20,000) estimated payments. In 2020 her tax was $19,000.

Jane has received her $1,400 stimulus payment in 2021.

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