NEED HELP WITH 13 DEPRECIATION AND SECTION 179 EXPENSE DEDUCTION (not included in part III) (see instructions)

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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: Gross sales $340,000 Returns and allowances 14,000 Expenses: Beginning inventory (at cost) $ 85,000 101,000 Add: purchases $186,000 Cost of goods available for sale Less: ending inventory (at cost) Cost of goods sold 71,000 $115,000 Rent 24,400 Insurance 2,000 Legal and accounting fees 5,000 Payroll 56,400 4,400 Payroll taxes Utilities 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 separat tab). For tax purposes, Trish elected out of bonus depreciation in all years except 2020. She did not elect immediate expensin 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 $3,000 Cleaning 1,000 Insurance 1,100 Property taxes 2,000 Required: Complete Trish's Schedule C, Form 8829, 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 "O". If required round any dollar amount the nearest dollar. Print item Chapter 8 Tax Return eBook Schedule of Fixed Asset Rollforward Trish's bookkeeper has provided the following book-basis fixed asset rollforward: Himple Retail Fixed Asset Rollforward 12/31/2020 (book basis) DEPR COST 2018 IN SERVICE METHOD LIFE BASIS DEPR 12/15/2018 SL 5 9,900.00 165.00 9,900.00 265.00 2019 ASSET 2020 ACCUM NET BOOK CASH REGISTER DEPR DEPR 2018 TOTAL ADDITIONS DEPR 1,980.00 1.980.00 1.980.00 VALUE 5,775.00 4,125.00 1.980.00 4,125,00 5,775.00 SL 7 RETAIL FIXTURES FURNITURE 2019 TOTAL ADDITIONS 9/12/2019 9/12/2019 4,750.00 3,900.00 226.19 678.57 904.76 SL 7 185.21 557.14 742.85 TOTAL 3.650.00 411.90 18,550.00 3,845.24 3,157.15 7.002.39 12,777.39 1,235.71 3,215.71 165.00 1,647.61 5.772.61 2,391.90 DELIVERY TRUCK DESK AND CABINETRY SL 6/1/2020 6/1/2020 5 4,375.00 SL 4,375.00 7 6/1/2020 991.67 SL COMPUTER 2020 TOTAL ADDITIONS TOTAL 5 37,500.00 11.900.00 2,800.00 52,200.00 70,250.00 33,125.00 10,908.33 991.67 326.67 326.67 2.473.33 5,693.34 5,693 34 165.00 46,506.66 2.391.90 8,909.05 11.465.95 59,284.05 CdM Chapter 8 Tax Return eBook Print Item 18 750 19 20a 20b 24,400 21 22 23 4,400 Part II 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 19 Pension and profit-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 12 Depletion 12 21 Repairs and maintenance.... 13 Depreciation and section 179 22 Supplies (not included in Part III).. expense deduction (not included 23 Taxes and licenses in Part II) (see instructions) 13 56,484 X Travel and meals: 14 Employee benefit programs a Travel .. (other than on line 19)..... 14 b Deductible meals (see 15 Insurance (other than health) 15 2,000 Instructions). 16 Interest (see Instructions): 25 Utilities a Mortgage paid to banks, etc.) 16a 26 Wages (less employment credits) b Other 16b 27a Other expenses (from line 48) 17 Legal and professional services 17 5,000 b Reserved for future use 28 Total expenses before expenses for business use of home. Add lines 8 through 27a 29 Tentative profit or loss). Subtract line 28 from line 7 24 24a 24b 25 2,200 26 56,400 27a 27b 28 29 30 Expenses for business use of your home. Do not report these expenses elsewhere. Attach Form 8829 unless using the simplified method. See instructions