Line 12 schedule 1 and line 6 1040- $1,650
Schedule C line 28- $217,750
Fitness. "The business is located at 4321 New Cut Road, Spartanburg, SC 29303. The principal business code is 812190. Chris had the following income and expenses from the health club: 2B. Christopher Crosphit (age 42) owns and operates a health club called "Catawba s 9 $216,100 ine 1 Income 3,665 3,295 nses: Business insurance Office supplies Payroll 9,112 2,420 10,720 8,775 22,820 13,975 2,778 32,590 5,200 780 120 770 1,830 Payroll taxes Travel Equipment & club maintenance Cleaning service Equipment rent Utilities (electric, water, gas) Telephone Rent Advertising Special workout clothing and boxing gloves Subscription to Biceps Monthly magazine Educational seminar on weight training Other expenses The business uses the cash method of accounting and has no accounts receivable Chris has the following interest income for the year: Upper Piedmont Savings Bank savings account $12,831 or inventory held for resale. Morgan Bank bond portfolio interest Chris has been a widower for 10 years with a dependent son, Arnold (Social Secu- 12,025 rity number 276-23-3954), and he files his tax return as head of household. Arnold is an door to the health club at 4323 New Cut Road. Chris does all the administrative work for the health club out of an office in his home. The room is 171 square feet and the house 18-year-old high school student, he does not qualify for the child tax credit. They live n has a total of 1,800 square feet. Chris pays $20,000 per year in rent and $4,000 in utilities Chris' Social Security number is 565-12-6789. He made an estimated tax payment to the IRS of $1,000 on April 15, 2018. Required: Complete Chris' federal tax return for 2018 on Form 1040, Schedule 1, Schedule 5, Schedule B, Schedule C, and Form 8829. Do not complete Form 4562 (depreciation) Fitness. "The business is located at 4321 New Cut Road, Spartanburg, SC 29303. The principal business code is 812190. Chris had the following income and expenses from the health club: 2B. Christopher Crosphit (age 42) owns and operates a health club called "Catawba s 9 $216,100 ine 1 Income 3,665 3,295 nses: Business insurance Office supplies Payroll 9,112 2,420 10,720 8,775 22,820 13,975 2,778 32,590 5,200 780 120 770 1,830 Payroll taxes Travel Equipment & club maintenance Cleaning service Equipment rent Utilities (electric, water, gas) Telephone Rent Advertising Special workout clothing and boxing gloves Subscription to Biceps Monthly magazine Educational seminar on weight training Other expenses The business uses the cash method of accounting and has no accounts receivable Chris has the following interest income for the year: Upper Piedmont Savings Bank savings account $12,831 or inventory held for resale. Morgan Bank bond portfolio interest Chris has been a widower for 10 years with a dependent son, Arnold (Social Secu- 12,025 rity number 276-23-3954), and he files his tax return as head of household. Arnold is an door to the health club at 4323 New Cut Road. Chris does all the administrative work for the health club out of an office in his home. The room is 171 square feet and the house 18-year-old high school student, he does not qualify for the child tax credit. They live n has a total of 1,800 square feet. Chris pays $20,000 per year in rent and $4,000 in utilities Chris' Social Security number is 565-12-6789. He made an estimated tax payment to the IRS of $1,000 on April 15, 2018. Required: Complete Chris' federal tax return for 2018 on Form 1040, Schedule 1, Schedule 5, Schedule B, Schedule C, and Form 8829. Do not complete Form 4562 (depreciation)
