please explain how to complete form 4562

Note: This problem is for the 2020 tax year. Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant with Mesa Manufacturing Company, 1203 Western Avenue, Mesa, AZ 85201 (employer identification number 11-1111111). She also writes computer software programs for tax practitioners and has a part-time tax practice. Beth is single and has no dependents. Beth was born on July 4, 1974, and her Social Security number is 123-45-6785. She wants to contribute $3 to the Presidential Election Campaign Fund. Beth received the appropriate coronavirus recovery rebates (economic impact payments); related questions in ProConnect Tax should be ignored. The following information is shown on Beth's Wage and Tax Statement (Form W-2) for 2020. Line Description Amount 1 Wages, tips, other compensation $65,000.00 2 Federal income tax withheld 9,500.00 3 Social Security wages 65,000.00 4 Social Security tax withheld 4,030.00 5 Medicare wages and tips 65,000.00 6 Medicare tax withheld 942.50 15 State Arizona 16 State wages, tips, etc. 65,000.00 17 State income tax withheld 1,954.00 During the year, Beth received interest of $1,300 from Arizona Federal Savings and Loan and $400 from Arizona State Bank. Each financial institution reported the interest income on a Form 1099-INT. She received qualified dividends of $800 from Blue Corporation, $750 from Green Corporation, and $650 from Orange Corporation. Each corporation reported Beth's dividend payments on a Form 1099-DIV. Beth received a $1,100 income tax refund from the state of Arizona on April 29, 2020. On her 2019 Federal income tax return, she claimed the standard deduction. Fees earned from her part-time tax practice in 2020 totaled $3,800. She paid $600 to have the tax returns processed by a computerized tax return service. On February 8, 2020, Beth bought 500 shares of Gray Corporation common stock for $17.60 a share. On September 12, 2020, Beth sold the stock for $14 a share. Beth bought a used sport utility vehicle for $6,000 on June 5, 2020. She purchased the vehicle from her brother-in-law, who was unemployed and was in need of cash. On November 2, 2020, she sold the vehicle to a friend for $6,500. On January 2, 2020, Beth acquired 100 shares of Blue Corporation common stock for $30 a share. She sold the stock on December 19, 2020, for $55 a share. During the year, Beth records revenues of $16,000 from the sale of a software program she developed. Beth incurred the following expenses in connection with her software development business. $7,000 Cost of personal computer Cost of printer 2,000 Furniture 3,000 650 Supplies Fee paid to computer consultant 3,500 Beth elected to expense the maximum portion of the cost of the computer, printer, and furniture allowed under the provisions of $ 179. These items were placed in service on January 15, 2020, and used 100% in her business. Although her employer suggested that Beth attend an in-person conference on current developments in corporate taxation, Beth was not reimbursed for the travel expenses of $1,420 she incurred in attending the meeting. The $1,420 included $200 for the cost of meals. During the year, Beth paid $300 for prescription medicines and $2,875 for doctor bills and hospital bills. Medical insurance premiums were paid by her employer. Beth paid real property taxes of $1,766 on her home. Interest on her home mortgage (Valley National Bank) was $3,845, and credit card interest was $320. Beth contributed $2,080 to various qualifying charities during the year. Professional dues and subscriptions totaled $350. Beth paid estimated taxes of $1,000. OM NA 1545-012 Farm 4562 Depreciation and Amortization Including Information on Listed Property) 2020 Department of the Attach to your tax return. Alamat Intalniri Go to www.ira.gov/farm4562 for instructions and the latest information. Saquince No. 179 Newtonum Identifying number Beth R. Jordan 123456 activity to which the formulates Schedule - Beth H. Jordan Part Election To Expense Curtain Property Under Section 179 I Note: If you have listed properly. Part bont you come art 2 2 placed Total cost of acties 17 property przed in service (se instructional 9 Threshold cost of action 179 property before reduction fumitation chant) 3 4 4bduction in mat. Subtractie 3 minu 2.18- Dalatonfo laxy Subtraction fra 1. st. mande partly Stone (a) Duscripts of property (b) Cest ) (c) Elected See Statement 7 party. Er hat am 29. 7 Total del calcio 129 party Addams columnes and ..... 8 9 Tentative deduction the smaller ons or in ......... 10 10 Carry oldalweddaton 13 of 2019 Fum552 11 Bus common Enter the sale of incomatuss than 5 Sets 12 Section 129 duduction. Adelines 9 and 10. but don't one more than 11 . 9 11 1.2 13 Carry of lowed duction to 2021. As 9 and 10, las line 12 13 Note: Dort 1 Part II w for lite property Indir Part It Special Depreciation Allowance and Other Depreciation (Don't hade listed roperty. So instruction) 14 Special deprecate for qualified property (other than properly) lace in a dug the Lax year. Si no 14 15 to 1680) con 16 Out deprecation(cluding AC.RS) 15 16 Part IIE MACRS Depreciation (Don't nedersted property. Se instruction) IT Section 17 MARS ddiction for at placeres taxes bong before 2020...17 12 15 if you are in toata lume that you accounts, thakre , Section Assist Placed in Service During 2020 Tax Year Using the General Depreciation System (c) Bastelo (b) Munch and (6 Duran (a) Classical (d) y (a) Canton (9) Oct yaar placed in business went (0) Method VIO taludhani use only 1983 by property ca d 10 party 15- E20- 25 properly the siden 25 5/1 27.5 27.5 y MM MI 5/L 5 5/L SAL i Nord ty 39 MH HM 5/1 Suction - Assets Placed in Service During 2020 Tax Year Using the Alternative Depreciation System 200 Cle 5/1 12 5/1 30 30 MM S/L SU MH 5/L Part IV Summary (Santri ( 21 beperty amount frin 28...... properly. En 21 22 Total. Adamants from 12. 14 ch 17, 19 and 20 and 21. Entre and the proces of your marinus and 5 corporation - enru.. 22 23 Fashion and in dung the content that porn of the battutto con 26 co ... 23 Note: This problem is for the 2020 tax year. Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant with Mesa Manufacturing Company, 1203 Western Avenue, Mesa, AZ 85201 (employer identification number 11-1111111). She also writes computer software programs for tax practitioners and has a part-time tax practice. Beth is single and has no dependents. Beth was born on July 4, 1974, and her Social Security number is 123-45-6785. She wants to contribute $3 to the Presidential Election Campaign Fund. Beth received the appropriate coronavirus recovery rebates (economic impact payments); related questions in ProConnect Tax should be ignored. The following information is shown on Beth's Wage and Tax Statement (Form W-2) for 2020. Line Description Amount 1 Wages, tips, other compensation $65,000.00 2 Federal income tax withheld 9,500.00 3 Social Security wages 65,000.00 4 Social Security tax withheld 4,030.00 5 Medicare wages and tips 65,000.00 6 Medicare tax withheld 942.50 15 State Arizona 16 State wages, tips, etc. 65,000.00 17 State income tax withheld 1,954.00 During the year, Beth received interest of $1,300 from Arizona Federal Savings and Loan and $400 from Arizona State Bank. Each financial institution reported the interest income on a Form 1099-INT. She received qualified dividends of $800 from Blue Corporation, $750 from Green Corporation, and $650 from Orange Corporation. Each corporation reported Beth's dividend payments on a Form 1099-DIV. Beth received a $1,100 income tax refund from the state of Arizona on April 29, 2020. On her 2019 Federal income tax return, she claimed the standard deduction. Fees earned from her part-time tax practice in 2020 totaled $3,800. She paid $600 to have the tax returns processed by a computerized tax return service. On February 8, 2020, Beth bought 500 shares of Gray Corporation common stock for $17.60 a share. On September 12, 2020, Beth sold the stock for $14 a share. Beth bought a used sport utility vehicle for $6,000 on June 5, 2020. She purchased the vehicle from her brother-in-law, who was unemployed and was in need of cash. On November 2, 2020, she sold the vehicle to a friend for $6,500. On January 2, 2020, Beth acquired 100 shares of Blue Corporation common stock for $30 a share. She sold the stock on December 19, 2020, for $55 a share. During the year, Beth records revenues of $16,000 from the sale of a software program she developed. Beth incurred the following expenses in connection with her software development business. $7,000 Cost of personal computer Cost of printer 2,000 Furniture 3,000 650 Supplies Fee paid to computer consultant 3,500 Beth elected to expense the maximum portion of the cost of the computer, printer, and furniture allowed under the provisions of $ 179. These items were placed in service on January 15, 2020, and used 100% in her business. Although her employer suggested that Beth attend an in-person conference on current developments in corporate taxation, Beth was not reimbursed for the travel expenses of $1,420 she incurred in attending the meeting. The $1,420 included $200 for the cost of meals. During the year, Beth paid $300 for prescription medicines and $2,875 for doctor bills and hospital bills. Medical insurance premiums were paid by her employer. Beth paid real property taxes of $1,766 on her home. Interest on her home mortgage (Valley National Bank) was $3,845, and credit card interest was $320. Beth contributed $2,080 to various qualifying charities during the year. Professional dues and subscriptions totaled $350. Beth paid estimated taxes of $1,000. OM NA 1545-012 Farm 4562 Depreciation and Amortization Including Information on Listed Property) 2020 Department of the Attach to your tax return. Alamat Intalniri Go to www.ira.gov/farm4562 for instructions and the latest information. Saquince No. 179 Newtonum Identifying number Beth R. Jordan 123456 activity to which the formulates Schedule - Beth H. Jordan Part Election To Expense Curtain Property Under Section 179 I Note: If you have listed properly. Part bont you come art 2 2 placed Total cost of acties 17 property przed in service (se instructional 9 Threshold cost of action 179 property before reduction fumitation chant) 3 4 4bduction in mat. Subtractie 3 minu 2.18- Dalatonfo laxy Subtraction fra 1. st. mande partly Stone (a) Duscripts of property (b) Cest ) (c) Elected See Statement 7 party. Er hat am 29. 7 Total del calcio 129 party Addams columnes and ..... 8 9 Tentative deduction the smaller ons or in ......... 10 10 Carry oldalweddaton 13 of 2019 Fum552 11 Bus common Enter the sale of incomatuss than 5 Sets 12 Section 129 duduction. Adelines 9 and 10. but don't one more than 11 . 9 11 1.2 13 Carry of lowed duction to 2021. As 9 and 10, las line 12 13 Note: Dort 1 Part II w for lite property Indir Part It Special Depreciation Allowance and Other Depreciation (Don't hade listed roperty. So instruction) 14 Special deprecate for qualified property (other than properly) lace in a dug the Lax year. Si no 14 15 to 1680) con 16 Out deprecation(cluding AC.RS) 15 16 Part IIE MACRS Depreciation (Don't nedersted property. Se instruction) IT Section 17 MARS ddiction for at placeres taxes bong before 2020...17 12 15 if you are in toata lume that you accounts, thakre , Section Assist Placed in Service During 2020 Tax Year Using the General Depreciation System (c) Bastelo (b) Munch and (6 Duran (a) Classical (d) y (a) Canton (9) Oct yaar placed in business went (0) Method VIO taludhani use only 1983 by property ca d 10 party 15- E20- 25 properly the siden 25 5/1 27.5 27.5 y MM MI 5/L 5 5/L SAL i Nord ty 39 MH HM 5/1 Suction - Assets Placed in Service During 2020 Tax Year Using the Alternative Depreciation System 200 Cle 5/1 12 5/1 30 30 MM S/L SU MH 5/L Part IV Summary (Santri ( 21 beperty amount frin 28...... properly. En 21 22 Total. Adamants from 12. 14 ch 17, 19 and 20 and 21. Entre and the proces of your marinus and 5 corporation - enru.. 22 23 Fashion and in dung the content that porn of the battutto con 26 co ... 23