The following information is available for the Albert and Allison Gaytor family in addition to that provided in Chapters 1–7. On September 14, 2018, Allison purchased the building where her store is located. She paid $230,000 for the building and $100,000 for the land it is located on. Allison’s store is the only business in the building. The depreciation on the store needs to be reflected on Schedule C of the business. 

Required: 

Combine this new information about the Gaytor family with the information from Chapters 1–7 and complete a revised 2018 tax return for Albert and Allison. This completes the Group 5 multichapter case. 

Profit or Loss From Business SCHEDULE C OMB No. 1545-0074 (Form 1040) (Sole Proprietorship) 2018 Attachment Sequence No. 09 Social security number (SSN) Go to www.irs.gov/ScheduleC for instructions and the latest information. Attach to Form 1040, 1040NR, or 1041; partnerships generally must file Form 1065. Department of the Treasury Internal Revenue Service (99) Name of proprietor B Enter code from instructions A Principal business or profession, including product or service (see instructions) DRAFT AS OF 22018 E FIL Business name. If no separate business name, leave blank. D Employer ID number (EIN) (see instr.) Business address (including suite or room no.) City, town or post office, state, and ZIP code Accounting method: (1) OCash Did you "materially participate" in the operation of this business during 2018? If "No," see instructions for limit on losses If you started or acquired this business during 2018, check here Did you make any payments in 2018 that would require you to file Form(s) 1099? (see instructions) If "Yes," did you or will you file required Forms 1099? Part I Income Gross receipts or sales. See instructions for line 1 and check the box if this income was reported to you on Form W-2 and the "Statutory employee" box on that form was checked 2 Returms and allowances Subtract line 2 from line 1 (3) D Other (specify). (2) DAccrual Yes O No Yes No Yes No EONOT FILE 3 3 Cost of goods sold (from line 42) Gross profit. Subtract line 4 from line 3 Other income, including federal and state gasoline or fuel tax credit or refund (see instructions) 6. Gross income. Add lines 5 and 6 7. Part II Expenses. Enter expenses for business use of your home only on line 30. 8 Advertising . 9 Car and truck expenses (see Office expense (see instructions) Pension and profit-sharing plans 18 18 19 19 instructions). 20 Rent or lease (see instructions): a Vehicles, machinery, and equipment 20a b Other business property 10 Commissions and fees 10 11 Contract labor (see instructions) 11 20b 12 Depletion. Depreciation and section 179 expense deduction (not included in Part I) (see instructions). .. 12 21 Repairs and maintenance. 21 Supplies (not included in Part II) 13 22 22 23 Taxes and licenses . 23 13 24 Travel and meals: a Travel. 24a Employee benefit programs (other than on line 19). Insurance (other than health) Interest (see instructions): 14 b Deductible meals (see 14 15 15 instructions). 24b 16 25 Utilities 25 a Mortgage (paid to banks, etc.) other 17 Legal and professional services 16a 26 Wages (less employment credits). 26 16b 27a Other expenses (from line 48) . 27a b Reserved for future use 17 27b 28 Total expenses before expenses for business use of home. Add lines 8 through 27a 28 29 Tentative profit or (loss). Subtract line 28 from line 7. .. 29 30 Expenses for business use of your home. Do not report these expenses elsewhere. Attach Form 8829 unless using the simplified method (see instructions). Simplified method filers only: enter the total square footage of: (a) your home: and (b) the part of your home used for business: Method Worksheet in the instructions to figure the amount to enter on line 30 Use the Simplified 30 31 Net profit or (loss). Subtract line 30 from line 29. If a profit, enter on both Schedule 1 (Form 1040), line 12 (or Form 1040NR, line 13) and on Schedule SE, line 2. (If you checked the box on line 1, see instructions). Estates and trusts, enter on Form 1041, line 3. If a loss, you must go to line 32. 31 32 If you have a loss, check the box that describes your investment in this activity (see instructions). If you checked 32a, enter the loss on both Schedule 1 (Form 1040), line 12 (or Form 1040NR, line 13) and on Schedule SE, line 2. (If you checked the box on line 1, see the line 31 instructions). Estates and trusts, enter on Form 1041, line 3. If you checked 32b, you must attach Form 6198. Your loss may be limited. 32a All investment is at risk. 32b Some investment is not at risk. For Paperwork Reduction Act Notice, see the separate instructions. Cat. No. 11334P Schedule C (Form 1040) 2018