PLEASE I need help with a 2023 IRS Form 1040 Income Tax Return (with all appropriate schedules and forms) Please upload the completed Federal Form 1040 with all appropriate schedules Taxpayer Information follows Single, age 42 CPA Business $160,000 gross revenue Business Expenses $30,000 wages, $30,000 office rent, $2,000 Business License, $5,000 insurance, $1,000 code violation fine Bought three assets for business in 2022 11 1 2022 Office Desk $4,000 Did not elect to take Section 179, or 100 bonus Depreciation 12 1 2022 Bought Tesla Model 3, 100 Business for $60,000 Would like to take Section 179 and or 100 bonus depreciation 12 1 2022 Bought Computer System for $25,000 Would like to take 100 bonus depreciation Standard Deduction $11,000 Federal Income Tax Estimated Payment, $4,000 CA Income Tax Estimated Payment

The Answer is in the image, click to view ...

Question: PLEASE!! I need help with a 2023 IRS Form 1040 Income Tax Return (with all appropriate schedules and forms) Please upload the completed Federal Form

PLEASE!! I need help with a 2023 IRS Form 1040 Income Tax Return (with all appropriate schedules and forms) Please upload the completed Federal Form 1040 with all appropriate schedules.

Taxpayer Information follows:

Single, age 42
CPA Business
- $160,000 gross revenue
- Business Expenses: $30,000 wages, $30,000 office rent, $2,000 Business License, $5,000 insurance, $1,000 code violation fine
- Bought three assets for business in 2022
  - 11/1/2022. Office Desk $4,000. Did not elect to take Section 179, or 100% bonus Depreciation
  - 12/1/2022. Bought Tesla Model 3, 100% Business for $60,000. Would like to take Section 179 and/or 100% bonus depreciation.
  - 12/1/2022. Bought Computer System for $25,000. Would like to take 100% bonus depreciation.
Standard Deduction
$11,000 Federal Income Tax Estimated Payment, $4,000 CA Income Tax Estimated Payment

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Due to a product upgrade, two new operations are need for the new version of the part mentioned in Practice Problem 1. Operation 3 is a high-precision drilling operation. Machine 3 has a mean time to...

Prepare a 2023 IRS Form 1040 Income Tax Return (with all appropriate schedules and forms) Please upload the completed Federal Form 1040 with all appropriate schedules. Taxpayer Information follows:...

Please choose one of the case studies below. All of the cases are found in the Jennings text book. Peruse the cases and identify one that is of interest to you -- because of the types of ethical...

I'm having issues with the itemized deductions section - I am coming up with $22,778 when the answer should be $23,238. Can you assist me? INDIVIDUAL TAX RETURN PROBLEM 5 Required: Use the following...

I need help with creating a 2023 IRS Form 1040 Income Tax Return (with all appropriate schedules and forms) Please upload the completed Federal Form 1040 with all appropriate schedules. Taxpayer...

I need help to solve the following problems . I need to know how to do them in the tax forms A. FORM 1040: INCOME TAX RETURN FOR SINGLE FILER WITH NO DEPENDENTS Marissa Mckinley, age 28, is single,...

ACCT 407/607 - Federal Taxation Fall 2023 1040 Income Tax Return Due 12/1/2023 Jocy F. Tribbiani is a married S4 year old (SSN S46-57-1111) residing at 99 Castleton Ct, Oceanside, NY 11572. Joey's...

Please use the information below to prepare an individual income tax return with the required schedules and attachments. All forms and instructions can be obtained from the IRSs website at...

Use the following information to complete Keith and Jen Hamilton's 2018 federal income tax return. Form 1040, supporting schedules, and instructions to the forms and schedules can be found at...

Individual tax return complete all forms required Prepare the Federal income tax return with all supporting schedules and attachments for Sally and Sally Frost for 2015. Specifically, submit the...

Is it alright to practice acrylic painting alongside digital illustrations or should a student stick to one medium at a time?

A new machine tool is expected to generate receipts as follows: $5,000 in year one; $3,000 in year two, nothing in the next year, and $2,000 in the fourth year. At an interest rate of 6%, what is the...

07.01-PR020 A machine was purchased 5 years ago for $12,000. At that time, its estimated life was 10 years with an estimated end-of-life salvage value of $1,200. The average annual operating and...

Fill-in the blank. Given: sin xdx. 1 sin*xdx x + (- 4 +, cos 4x ) dx A. cos 2x B. sin 2x C. - cos 2x D. sin 2x

A particle moves in a straight line. It is initially at rest at the origin. The acceleration of the particle is given by a = cos 3t. Find the values of the constants of integration. 1 A. 1; - B. 0;...

The slope of a curve at point P(x, y) is equal to y?x. Find y at x = 2. A. 8. . 2 B. - c.: D. - 4

Fill-in the blank. Given: sin xcosxdx. | sin xcos xdx cosx+ (_ _)+ C A cos*x B. -cos*x c. cos'x D. - cos?x

Design a minimum-mass symmetric three-bar truss (the area of member 1 and that of member 3 are the same) to support a load P, as was shown in Fig. 2.9. The following notation may be used: Pu = P cos...

=+13. Police salaries, part 2. Heres a multiple regression model for the variables considered in Exercise 11. Dependent variable is: Violent Crime R squared = 22.41% R squared (adjusted) = 19.10% s =...

=+c) In a state in which the average police officer wage is $20/ hour and the high school graduation rate is 70%, what does this model estimate the violent crime rate would be?

=+a) Name and check (to the extent possible) the regression assumptions and their corresponding conditions. M17_SHAR8696_03_SE_C17.indd 614 14/07/14 7:38 AM Exercises 615