please fill schedule c, form 8829 and form 4562.

CHA 8.48 Chapter 8 - Depreciation and Sole ONS 8-50 Chapter 8 - Depreciation and sale of Business Property GROUP 4: COMPREHENSIVE PROBLEMS 1. 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 $352,000 Returns and allowances Expenses: 4,000 Beginning inventory (at cost) Add: purchases $ 85,000 101,000 Cost of goods available for sale 186,000 Less: ending inventory (at cost) Cost of goods sold 75,000 Rent $111.000 Insurance 24,200 Legal and accounting fees Payroll 5,600 Payroll taxes 56,430 4.400 Utilities 2.100 Office supplies 750 Advertising 6,200 Trish's bookkeeper has provided the following book-basis fixed asset tollforward: Himple Retail Fixed Asset Rollforward 12/31/2019 Chooks DEPR COST 2017 2016 2019 ACEUM NETBOOK ASSET RECUM IN SERVICE METHOD LIFE 5455 DEPR DEPR DEPR DEPR VALUE CASH REGISTER 2/15/2017 SL 5 9,500.00 1,815.00 1,980,00 1.950.00 5,775.00 2017 TOTAL ADDITIONS 9,500.00 1,815.00 1,99000 190000 5.775.00 RETAIL FIXTURES 10/12/2015 51 4.750.00 19964 79.57 3901.39 FURNITURE 30/3/2013 SU 2 3.900.00 139.29 55714 3.20357 30593 135.71 1.54054 TOTAL 10:500.00 1815.00 2.258.93 3.215.71 7319,00 13 DELIVERY TRUCK SL 5 3,500.00 4,375.00 4,275 23,225.00 DESK AND CABINETRY 6/1/2019 SL 7 11.300.00 991.67 991 COMPUTER SL 5 2.800.00 326.67 3 2019 TOTAL ADDITIONS $2.200.00 5.6936 5.330 45.50 TOTAL 70.750.00 1 8 15.02.188938,309.05 1,800 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 2,500 sq. ft. Her 2014 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 2019 related to the entire home: Utilities $2,800 Cleaning 900 Insurance 1,100 Property taxes 2,000 e Problem 1.3 = $29,000 + $1,500 - $30,500 $30,500 $2,200 $28,300 - 200 (exceeds his itemized deduction $16,100 Questions and Problems 8-53 Questions and Problems 8-51 Required: For tax purposes, Trish elected out of bonus depreciation in all years except 2019. She did not elect immediate expensing in any year. The tax lives of the assets are the same as the book lives shown in the fixed asset schedule above. Complete Trish's Schedule C, Form 8829, and Form 4562 (as necessary). Make realistic assumptions about any missing data. 2. Lisa Kohl (birthdate 02/14/1953) is an unmarried high school principal. Lisa received the following tax documents: CHA 8.48 Chapter 8 - Depreciation and Sole ONS 8-50 Chapter 8 - Depreciation and sale of Business Property GROUP 4: COMPREHENSIVE PROBLEMS 1. 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 $352,000 Returns and allowances Expenses: 4,000 Beginning inventory (at cost) Add: purchases $ 85,000 101,000 Cost of goods available for sale 186,000 Less: ending inventory (at cost) Cost of goods sold 75,000 Rent $111.000 Insurance 24,200 Legal and accounting fees Payroll 5,600 Payroll taxes 56,430 4.400 Utilities 2.100 Office supplies 750 Advertising 6,200 Trish's bookkeeper has provided the following book-basis fixed asset tollforward: Himple Retail Fixed Asset Rollforward 12/31/2019 Chooks DEPR COST 2017 2016 2019 ACEUM NETBOOK ASSET RECUM IN SERVICE METHOD LIFE 5455 DEPR DEPR DEPR DEPR VALUE CASH REGISTER 2/15/2017 SL 5 9,500.00 1,815.00 1,980,00 1.950.00 5,775.00 2017 TOTAL ADDITIONS 9,500.00 1,815.00 1,99000 190000 5.775.00 RETAIL FIXTURES 10/12/2015 51 4.750.00 19964 79.57 3901.39 FURNITURE 30/3/2013 SU 2 3.900.00 139.29 55714 3.20357 30593 135.71 1.54054 TOTAL 10:500.00 1815.00 2.258.93 3.215.71 7319,00 13 DELIVERY TRUCK SL 5 3,500.00 4,375.00 4,275 23,225.00 DESK AND CABINETRY 6/1/2019 SL 7 11.300.00 991.67 991 COMPUTER SL 5 2.800.00 326.67 3 2019 TOTAL ADDITIONS $2.200.00 5.6936 5.330 45.50 TOTAL 70.750.00 1 8 15.02.188938,309.05 1,800 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 2,500 sq. ft. Her 2014 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 2019 related to the entire home: Utilities $2,800 Cleaning 900 Insurance 1,100 Property taxes 2,000 e Problem 1.3 = $29,000 + $1,500 - $30,500 $30,500 $2,200 $28,300 - 200 (exceeds his itemized deduction $16,100 Questions and Problems 8-53 Questions and Problems 8-51 Required: For tax purposes, Trish elected out of bonus depreciation in all years except 2019. She did not elect immediate expensing in any year. The tax lives of the assets are the same as the book lives shown in the fixed asset schedule above. Complete Trish's Schedule C, Form 8829, and Form 4562 (as necessary). Make realistic assumptions about any missing data. 2. Lisa Kohl (birthdate 02/14/1953) is an unmarried high school principal. Lisa received the following tax documents