fill out form $4797$ with this information $4.$ Phillip$$s full$-$time real estate business is named $$Phillip Dunphy Realty.$$ His business is located at $645$ Grove Street, Los Angeles, California $90018,$ and his employer identification number is $93-3488888.$ Phillip$$s gross receipts during the year were $$730,000.$ Phillip uses the cash method of accounting for his business. Phillip$$s business expenses are as follows: Advertising $ $5,000$ Professional dues $800$ Professional journals $200$ Employee wages $48,000$ Insurance on office contents $1,120$ Accounting services $2,100$ Miscellaneous office expense $500$ Utilities and telephone $3,360$ Payroll taxes $3,600$ Depreciation To be calculated $5.$ On March $20,2023$ Phillip moved his business out of the old offices at $1103$ Allium Lane into a newly constructed and equipped office on Grove Street. Phillip sold the old office building and all its furnishings. Phillip$$s expenditures for the new office building are as follows: Date Acquired Asset Cost $3/20/2023$ Land $ $300,0003/20/2023$ Office building $2,500,0003/20/2023$ Furniture $200,0004/1/2023$ Computer system $350,0006/1/2023$ Artwork $150,000$ Note that the Artwork is not expected to depreciate in value or be subject to normal wear and tear. $6.$ Phillip computes his cost recovery allowance using MACRS. He would like to use the $179$ immediate expensing, but he has elected to not claim any bonus depreciation. Phillip has never claimed $179$ or bonus depreciation before. The assets Phillip sold on March $20$ are as follows: Date Acquired Asset Sales Price Original Cost Accumulated Depreciation as of Beginning of the Year $5/1/17$ Office building $$940,000$ $$900,000$ $$129,8255/1/17$ Land $150,000100,00007/1/17$ Furniture $50,000239,000206,9988/13/19$ Furniture $10,000324,000222,7824/12/20$ Office equipment $100,000120,00067,5245/13/22$ Computers $30,00050,00010,0007.$ Phillip has never sold any assets relating to his business before this transaction. $8.$ Phillip and Claire donated $$350$ to the Salvation Army during $2023.9.$ The Dunphys sold $60$ shares of Fizbo Corporation common stock on September $3$ for $$65$ a share $($minus a $$50$ total commission$).$ The Dunphys purchased the stock on November $8,2022,$ for $$90$ a share. They also sold a painting for $$13,000$ on March $1.$ Claire purchased the painting for $$20,050$ on September $1,2014,$ as an investment. $10.$ The Dunphys filed their $2022$ federal, state, and local returns on April $13,2023.$ They paid the following additional $2022$ taxes with their returns: federal income taxes of $$630,$ state income taxes of $$250,$ and city income taxes of $$75.11.$ The Dunphys made timely estimated federal income tax payments of $$10,000$ each quarter during $2023.$ They also made estimated state income tax payments of $$1,000$ each quarter and estimated city income tax payments of $$300$ each quarter. The Dunphys made all fourth$-$quarter payments on December $31,2023.$ They would like to receive a refund for any overpayments. $12.$ The Dunphys did not buy, sell, exchange, or otherwise acquire any financial interest in a virtual currency.