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Trish's bookkeeper has provided the following book-basis fixed asset rollforward: Himple Retail Fixed Asset Rollforward 12/31/2022 (book basis) ASSET CASH REGISTER 2020 TOTAL ADDITIONS RETAIL
Trish's bookkeeper has provided the following book-basis fixed asset rollforward: Himple Retail Fixed Asset Rollforward 12/31/2022 (book basis) ASSET CASH REGISTER 2020 TOTAL ADDITIONS RETAIL FIXTURES FURNITURE 2021 TOTAL ADDITIONS TOTAL DELIVERY TRUCK DESK AND CABINETRY COMPUTER 2022 TOTAL ADDITIONS TOTAL DEPR IN SERVICE METHOD LIFE 8/15/2020 SL 5 6/21/2021 SL 6/12/2021 SL 10/1/2022 SL SL 6/1/2022 6/1/2022 SL 7 7 Utilities Cleaning Insurance Property taxes S 7 5 COST BASIS 10,000.00 10,000.00 5,500.00 4,100.00 9,600.00 19,600.00 38,000.00 12,000.00 3,000.00 53,000.00 72,600.00 2020 DEPR 2021 2022 DEPR DEPR 833.33 2,000.00 2,000.00 833.33 2,000.00 2,000.00 $3,000 1,000 1,100 2,000 458.33 785.71 341.67 585.71 800.00 1,371.42 833.33 2,800.00 3,371.42 1,900.00 1,000.00 350.00 3,250.00 833.33 2,800.00 6,621.42 ACCUM DEPR 4,833.33 4,833.33 1,244.04 927.38 2,171.42 7,004.75 NET BOOK VALUE 5,166.67 5,166.67 4,255.96 3,172.62 7,428.58 12,595.25 The truck is not considered a passenger automobile for purposes of the luxury automobile limitations. 1,900.00 36,100.00 1,000.00 11,000.00 350.00 2,650.00 3,250.00 49,750.00 62,345.25 10,254.75 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 home's 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 Trish's Sched- ule C, Form 8829, and Form 4562. Make realistic assumptions about any missing data.
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