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Cassi Sosby (SSN 412-34-5670) has a cash-basis home cleaning business she runs as a sole proprietorship. The following are the results from business operations for the tax year 2021:

Gross receipts: $203,000

Expenses:

Postages: (500)

Wages: (26,000)

Payroll taxes: (1,950)

Supplies: (12,500)

Phone: (1,250)

Internet service: (600)

Rent: (2,400)

Insurance: (2,800)

Van expenses: (4,500)

Business assets Date Purchased Cost

Van 1/1/21 $27,000

Computer 1 1/18/21 $2,200

Computer 2 1/16/21 $2,700

Printer 3/1/21 $900

Copier 3/2/20 $2,100

Furniture 3/1/21 $6,000

Required:

Determined Cassis self-employment income. Prepare Schedule C, Schedule SE, and Form 4562. (179 was not taken on assets purchases in 2020 and 2021).

Note: Input all the values as positive numbers. Do not round other intermediate computations. Round your final answers to the nearest whole dollar.

Part I Election To Expense Certain Property Under Section 179 Note: If you have any listed property, complete Part V before you complete Part I. 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 15 Property subject to section 168(f)(1) election 16 Other depreciation (including ACRS) Part III I MACRS Depreciation (Don't include listed property. See instructions.) 17 MACRS deductions for assets placed in service in tax years beginning before 2021 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 Part I Election To Expense Certain Property Under Section 179 Note: If you have any listed property, complete Part V before you complete Part I. 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 15 Property subject to section 168(f)(1) election 16 Other depreciation (including ACRS) Part III I MACRS Depreciation (Don't include listed property. See instructions.) 17 MACRS deductions for assets placed in service in tax years beginning before 2021 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

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