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Required information [The following information applies to the questions displayed below.] Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents

Required information

[The following information applies to the questions displayed below.]

Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building. This year Betty had the following income and expenses. You may assume that Betty will owe $2,502 in self-employment tax on her salon income, with $1,251 representing the employer portion of the self-employment tax. You may also assume that her divorce from Rocky was finalized in 2016.

Interest income $ 11,255
Salon sales and revenue 86,360
Salaries paid to beauticians 45,250
Beauty salon supplies 23,400
Alimony paid to her ex-husband, Rocky 6,000
Rental revenue from apartment building 31,220
Depreciation on apartment building 12,900
Real estate taxes paid on apartment building 11,100
Real estate taxes paid on personal residence 6,241
Contributions to charity 4,237

b-1. Complete Schedule 1 of Form 1040 for Betty.

**************************************Please Complete 2020 Schedule 1 of form 1040********************************

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