Required information [The following information applies to the questions displayed below.] Rocco operates a beauty salon...
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Required information [The following information applies to the questions displayed below.] Rocco operates a beauty salon as a sole proprietorship. Rocco also owns and rents an apartment building. In 2022, Rocco had the following income and expenses. You may assume that Rocco will owe $2,586 in self-employment tax on his salon income, with $1,293 representing the employer portion of the self-employment tax. You may also assume that his divorce from Svetlana was finalized in 2016. Interest income Salon sales and revenue Salaries paid to beauticians. Beauty salon supplies Alimony paid to his ex-wife, Svetlana Rental revenue from apartment building. Depreciation on apartment building Real estate taxes paid on apartment building Real estate taxes paid on personal residence. Contributions to charity $ 13,735 87,960 46,100 23,560 6,800 34,100 13,700 11,740 6,705 4,765 b-2. Complete page 1 (through line 11) of Form 1040 for Rocco. Visit the IRS website and download Form 1040. Enter the required values in the appropriate fields. Save your completed Tax Form to your computer and then upload it here by clicking "Browse." Next, click "Save." Note: Use 2022 tax rules regardless of year on the form. Required information [The following information applies to the questions displayed below.] Rocco operates a beauty salon as a sole proprietorship. Rocco also owns and rents an apartment building. In 2022, Rocco had the following income and expenses. You may assume that Rocco will owe $2,586 in self-employment tax on his salon income, with $1,293 representing the employer portion of the self-employment tax. You may also assume that his divorce from Svetlana was finalized in 2016. Interest income Salon sales and revenue Salaries paid to beauticians. Beauty salon supplies Alimony paid to his ex-wife, Svetlana Rental revenue from apartment building. Depreciation on apartment building Real estate taxes paid on apartment building Real estate taxes paid on personal residence. Contributions to charity $ 13,735 87,960 46,100 23,560 6,800 34,100 13,700 11,740 6,705 4,765 b-2. Complete page 1 (through line 11) of Form 1040 for Rocco. Visit the IRS website and download Form 1040. Enter the required values in the appropriate fields. Save your completed Tax Form to your computer and then upload it here by clicking "Browse." Next, click "Save." Note: Use 2022 tax rules regardless of year on the form.
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Question Step 1 AMT AMT INTEREST INCOME 13735 SALON SALES AND REVENUE 87960 LESS SALARIES PAID 46100 ... View the full answer
Related Book For
Taxation Of Individuals And Business Entities 2015
ISBN: 9780077862367
6th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
Posted Date:
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