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Prepare a 2023 IRS Form 1040 Income Tax Return (with all appropriate schedules and forms) Please upload the completed Federal Form 1040 with all appropriate

Prepare a 2023 IRS Form 1040 Income Tax Return (with all appropriate schedules and forms) Please upload the completed Federal Form 1040 with all appropriate schedules.

Taxpayer Information follows:

  • Single, age 42
  • CPA Business
    • $160,000 gross revenue
    • Business Expenses: $30,000 wages, $30,000 office rent, $2,000 Business License, $5,000 insurance, $1,000 code violation fine
    • Bought three assets for business in 2022
      • 11/1/2022. Office Desk $4,000. Did not elect to take Section 179, or 100% bonus Depreciation
      • 12/1/2022. Bought Tesla Model 3, 100% Business for $60,000. Would like to take Section 179 and/or 100% bonus depreciation.
      • 12/1/2022. Bought Computer System for $25,000. Would like to take 100% bonus depreciation.
  • Standard Deduction
  • $11,000 Federal Income Tax Estimated Payment, $4,000 CA Income Tax Estimated Payment

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