John Rivera, age 31, is single and has no dependents. At the beginning of 2022, John started his own excavation business and named it Earth Movers. John lives at 1045 Center Street, Lindon, UT, and his business is located at 381 State Street, Lindon, UT. The Zip Code for both addresses is 84042. Johns Social Security number is 111-11-1111, and the business identification number is 11-1111111. During 2022, John reports the following items in connection with his business: Fee income for services rendered. $1,000,000 Building rental expense 36,000 Office furniture and equipment rental expense 9,000 Office supplies 2,500 Utilities 4,000 Salary for secretary 34,000 Salary for equipment operators 42,000 Payroll taxes 7,000 Fuel and oil for the equipment 21,000 Business meals 10,000 Business entertainment 10,000 During 2022, John recorded the following additional items: 1. $10,000 Interest income from First National Bank 2. $9,500 Dividends from ExxonMobil 3. John contributed $6000 to an IRA account (hint: he could only contribute to one type of IRA based on his AGI) 4. John incurred Section 1244 stock loss of $15,000. 5. Sale of ABC Inc. publicly traded stock on 11/15/2022 for $2,000 (originally purchased for $17,000 on 3/15/2021) 6. During the year, John invested $1,000 (tax basis and at-risk basis) into JKL limited partnership (a passive investment). His share of the limited partnership income for the year was $5,000, and he received a $3,000 distribution from JKL limited partnership. 7. During the year, John invested $1,000 (tax basis and at-risk basis) into MNO limited partnership (a passive investment). His share of the limited partnership loss for the year was $6,000.

Prepare the 2022 Federal income tax return for John. Ignore self-employment taxes. Take qualified business income deduction

Form 1040, Schedule 1, Schedule B, Schedule C and Schedule D

Explanation (including calculations) for each line item. This explanation must include ending basis and suspended losses (if any) for limited partnerships.