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 the cash basis. The income and expenses for the year are:

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 2017 purchase price and basis in the home, not including land, is $100,000 (the homes market value is $150,000). She incurred the following costs in 2022 related to the entire home:

Required: For tax purposes, Trish elected out of bonus depreciation in all years except 2022. 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 Trishs Schedule C, Form 8829, and Form 4562.

• 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 "0".
• If required round any dollar amount to the nearest dollar.

Gross sales Returns and allowances Expenses: \begin{tabular}{lr} Beginning inventory (at cost) & $85,000 \\ Add: purchases & 100,000 \\ \cline { 2 - 2 } Cost of goods available for sale & $185,000 \\ Less: ending inventory (at cost) & 72,000 \\ \hline \end{tabular} $350,000 15,000 Cost of goods sold Rent Insurance Legal and accounting fees Payroll Payroll taxes Utilities Office supplies Advertising $113,000 29,000 3,000 5,000 60,000 5,000 2,200 800 6,000 Form 4562 9 Tentative deduction. Enter the smaller of line 5 or line 8 10 Carryover of disallowed deduction from line 13 of your 2021 Form 4562 11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5. See instructions 12 Section 179 expense deduction. Add lines 9 and 10 , but don't enter more than line 11 \begin{tabular}{|c|l} \hline 9 & \\ \hline 10 & \\ \hline 11 & \\ \hline 12 & \\ \hline & \\ \hline \end{tabular} 13 Carryover of disallowed deduction to 2023. Add lines 9 and 10 , less line 12 13 Note: Don't use Part II or Part III below for listed property. Instead, use Part V. Part II Special Depreciation Allowance and Other Depreciation (Don't include listed property. See instructions.) 14 Special depreciation allowance for qualified property (other than listed property) placed in service during the tax year. See instructions 16 Other depreciation (including ACRS) \begin{tabular}{|l|l} \hline 14 & 53,000 \\ \hline 15 & \\ \hline 16 & \\ \hline \end{tabular} Part III MACRS Depreciation (Don't include listed property. See instructions.) Section A 17 MACRS deductions for assets placed in service in tax years beginning before 2022 17 4,284 18 If you are electing to group any assets placed in service during the tax year into one or more general asset accounts, check here \begin{tabular}{|lr|} \hline Utilities & $3,000 \\ Cleaning & 1,000 \\ Insurance & 1,100 \\ Property taxes & 2,000 \\ \hline \end{tabular} Gross sales Returns and allowances Expenses: \begin{tabular}{lr} Beginning inventory (at cost) & $85,000 \\ Add: purchases & 100,000 \\ \cline { 2 - 2 } Cost of goods available for sale & $185,000 \\ Less: ending inventory (at cost) & 72,000 \\ \hline \end{tabular} $350,000 15,000 Cost of goods sold Rent Insurance Legal and accounting fees Payroll Payroll taxes Utilities Office supplies Advertising $113,000 29,000 3,000 5,000 60,000 5,000 2,200 800 6,000 Form 4562 9 Tentative deduction. Enter the smaller of line 5 or line 8 10 Carryover of disallowed deduction from line 13 of your 2021 Form 4562 11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5. See instructions 12 Section 179 expense deduction. Add lines 9 and 10 , but don't enter more than line 11 \begin{tabular}{|c|l} \hline 9 & \\ \hline 10 & \\ \hline 11 & \\ \hline 12 & \\ \hline & \\ \hline \end{tabular} 13 Carryover of disallowed deduction to 2023. Add lines 9 and 10 , less line 12 13 Note: Don't use Part II or Part III below for listed property. Instead, use Part V. Part II Special Depreciation Allowance and Other Depreciation (Don't include listed property. See instructions.) 14 Special depreciation allowance for qualified property (other than listed property) placed in service during the tax year. See instructions 16 Other depreciation (including ACRS) \begin{tabular}{|l|l} \hline 14 & 53,000 \\ \hline 15 & \\ \hline 16 & \\ \hline \end{tabular} Part III MACRS Depreciation (Don't include listed property. See instructions.) Section A 17 MACRS deductions for assets placed in service in tax years beginning before 2022 17 4,284 18 If you are electing to group any assets placed in service during the tax year into one or more general asset accounts, check here \begin{tabular}{|lr|} \hline Utilities & $3,000 \\ Cleaning & 1,000 \\ Insurance & 1,100 \\ Property taxes & 2,000 \\ \hline \end{tabular}