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1) The image shows a completed schedule C using the cash method. Complete schedule C using the ACCRUAL method.
2) Are there any differences between the 2018 and 2019 forms?
|December Landscape Services||11,000|
|Prepaid Landscape Services||300|
|Sales of Inventory:|
|Non-incidental material supplies||12,800|
|Car and Truck expenses:|
|SUV Operating Expenses||5,335|
|BMW Operating Expenses||306|
|Travel and business meals:|
|Travel to NY Seminar||1,435|
|Business dinner with clients||270|
|Wages and Subcontractor fees:|
|Full-time employees (Ken)||30,000|
|Fountain Removal (Part-time employees)||850|
|Fence Installation (Prepaid subcontractor)||0|
|Books for Waiting Room||50|
|Other Expenses (not in example):|
|Legal and Professional Services||1,040|
|Repairs and Maintenance||1,975|
|Taxes and Licenses||400|
|(A-B)||Net Business Income||9,399|
Ans 2. The second page to the form of first form is missing due to which extensive analysis of cost of goods sold is not possible.
1) The image shows a completed schedule C using the cash method. Complete schedule C using...
Janice Morgan, age 24, is single and has no dependents. She is a freelance writer. In January 2018, Janice opened her own office located at 2751 Waldham Road, Pleasant Hill, NM 88135. She called her business Writers Anonymous. Janice is a cash basis taxpayer. She lives at 132 Stone Avenue, Pleasant Hill, NM 88135. Her Social Security number is 123-45-6789. Janice’s parents continue to provide health insurance for her under their policy. Janice wants to contribute to the Presidential Election...
Compare the 2017 and 2018 Schedule A’s. Note a subtle but important difference between the two forms as it relates to the taxes you paid deduction. Itemized Deductions SCHEDULE A (Form 1040) OMB No. 1545-0074 Go to www.rs.gov/ScheduleA for instructions and the latest information. Attach to Form 1040. 2017 Department of the Treasury Intemal Revenue Service (99) Caution: If you are claiming a net qualified disaster loss on Form 4684, see the instructions for line 28.Sequence No.07 Namels) shown on...
calculate the net loss or net profit based on the information for the year. OME N Atte Sec . SCHEDULE C Profit or Loss From Business (Form 1040 or (Sole Proprietorship) 1040-SR) Go to www.lrs.gow Schedule for instructions and the latest information Department of the Treasury *Attach to Form 1040, 1040-SR, 1040-NR, or 1041; partnerships generally must file Form 1065. Intemal Revenue Service Income 1 Gross recebe orales. Incons for line 1 and check the box this come was reported...
complete a 1040 (2019) Donna Jones, an administrative assistant. resides at 123 Main Street, Lawrenceville, NJ V0048. She is single and has no dependents. Her social security number is 123-44-5500. She received $26,159.00 in wages and had $2.200.00 of federal income tax withheld during 2019. Donna also had $390.00 in interest income from her bank account and made $150.00 of charitable contributions during the year. Prepare her 2019 1040. One box UTU Treasury Internal Revenue Service ) U.S. Individual Income...
total itemized deductions are given - $12,300 using the information, fill out SCHEDULE A 2018 FORM 1:9-72 George Large (SSN 000-11-1111) and his wife Marge Large (SSN 000-22-2222) live at 2000 Lakeview Drive, Cleveland, OH 49001 and want you to prepare their 2017 income tax return based on the information below: George Large worked as a salesman for Toyboat, Inc. He received a salary of $80,000 ($8,500 of federal income taxes withheld and $1,800 of state income taxes withheld) plus...
Complete Form 1040-Schedule A for Bryan Jones year 2016. Show all calculations within the cells of the template. This means that you must use formulas and links so that the thought process can be examined. Make good use of comments to convey your thought process as well; no hard coding of solutions. Taxpayer Information: Name: Bryan Jones Address: 1200 Main St. Green Bay, Wisconsin 12345 DOB: 5/6/1976 Filing Status: Single SSN: 500-10-2000 ...
Use the following information to fill out schedule E (tax form). SCHEDULE E (Form 1040 Supplemental Income and Loss From rental real estate, royalties, partnerships, S corporations, estates, trusts, REMICs, etc) OMBNo. 1545-0074 201 Attach to Form 1040, 1040NA, cr Form 1041. Note: If you are in the business of renting personal property, use Schedule C or C-EZ(see instructions). It you are an individual, report farm rental income or loss trom Form 4835 on page 2, ine 40 A Did...
Form 1040 Complete Patty's Form 1040 Form Department of the Treasury-Internal Revenue Service (99) 1040 U.S. Individual Income Tax Return2018 OMB No. 1545-0074 IRS Use Only Filing status: Single Your first name and initial Patty Your standard deduction: None Your social security number 466-33-1234 Last name Banyan If joint return, spouse's first name and initial Last name Spouse's social security number Full-year health care coverage or exempt (see inst.) Spouse standard deduction: None Home address (number and street). If you...
Required information (The following information applies to the questions displayed below.) Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from corporate bonds. Marc contributed $2,500 to an individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,500 (under a divorce decree effective June 1, 2005). Marc and Michelle have a 10-year-old son,...
Please answer all the questions. Thanks. Based on Exhibit 4-2, Form 1040. Please see attached Forms1040 for 2018 and 2017. Note three similarities and three differences between the 2017 tax form and the 2018 draft form 1040 Three differences: 2. 3. Three similarities: 2. 3. Comment 1040U, Individual Income Tax Retum21sr Home addressnuber and str you have a PO bex, see instrutions 1 Single Mamied fling jointly leven if only ane had income Check only one3Married fling separately. Enter spouse's...