self employed buy the laptop computer, printer , softwarepurchased and placed in service the following fixed assets for business in 2020 can depreciation? How to do this?
and she has 2050 miles for business, so can deduction auto expense?
Maria received the following Form 1099-MISC from her bookkeeping activities for her largest client: CORRECTED (if checked) PAYER'S name, street address, city or town, state or province, country, ZIP 1 Rents OMB No. 1545-0115 or foreign postal code, and telephone no. $ iscellaneous 2 Royalties Income Form 1099-MISC Dixon Healthcare Inc 412 Costa Mesa Drive 3 Other income 4 Federal income tax withheld Copy B Lubbock, TX 79401 $ For Recipient PAYER'S TIN RECIPIENT'S TIN 5 Fishing boat proceeds 6 Medical and health care payments 12-3456781 265-24-8454 RECIPIENT'S name 7 Nonemployee compensation 8 Substitute payments in lieu of dividends or interest This is important tax information and is Maria Gomez being furnished to Street address (including apt. no.) 14,000 the IRS. If you are 9 Payer made direct sales of 10 Crop insurance proceeds required to file a return, a negligence 543 West La Patera $5,000 or more of consumer products to a buyer penalty or other City or town, state or province, country, and ZIP or foreign postal code (recipient) for resale $ sanction may be imposed on you if this income is Lubbock, TX 79401 taxable and the IRS Account number (see instructions) FATCA filing 13 Excess golden parachute 14 Gross proceeds paid to an determines that it requirement payments attorney has not been reported. 15a Section 409A deferrals 15b Section 409A income 16 State tax withheld 17 State/Payer's state no. 8 State income $ Form 1099-MISC (keep for your records) www.irs.gov/Form 1099MISC Department of the Treasury - Internal Revenue Service Maria received an additional $4,000 from clients who were not required to issue Maria a Form 1099- MISC. During the year, Maria paid the following business-related expenses: Paper $365 Toner $450 Meals $580 Maria purchased and placed in service the following fixed assets for her business in 2020: Item Date Purchased Amount New laptop computers March 1 $1,850 New laser printers March 1 $ 840 New computer software April 2 $ 400 Maria would like to recover the cost of these business assets as soon as possible through Section 179 expensing. Maria owns a 2017 Acura. She started to use the Acura for her business on January 1, 2020. She drove 2,050 business miles during 2020 (she has documentation to verify). She drove the vehicle for a total of 10,000 miles during the year (7,950 personal miles). She also has access to another vehicle that she can use for personal purposes
