Tax Return Problem #$2$

Janice Morgan, age $24,$ is single and has no dependents. She is a freelance writer. In January $2022,$ Janice opened her own office located at $2751$ Waldham Road, Pleasant Hill, NM $88135.$ She called her business Writers Anonymous. Janice is a cash basis taxpayer. She lives at $132$ Stone Avenue, Pleasant Hill, NM $88135.$ Her Social Security number is $123-45-6782.$ Janice$$s parents continue to provide health insurance for her under their policy. Janice did not engage in any virtual currency transactions during the year and wants to contribute to the Presidential Election Campaign Fund.

During $2022,$ Janice reported the following income and expense items connected with her business.

Income from sale of articles $$95,000$

Rent $16,500$

Utilities $7,900$

Supplies $1,800$

Insurance $5,000$

Depreciation $3,000($related to assets put into service in prior years$)$

Travel $2,900($including restaurant meals of $$600)$

Janice purchased and placed in service the following fixed assets for her business.

Furniture and fixtures $($new$)$ costing $$21,000$ on January $10.$

Computer equipment $($new$)$ costing $$12,400$ on July $28.$ On the computer equipment, Janice wants to elect immediate expensing under $179,$ if possible.

Janice$$s itemized deductions include:

State income tax $$2,950$

Home mortgage interest paid to First National Bank $8,000$

Property taxes on home $2,500$

Charitable contribution to her alma mater, State College $1,200$

Janice did not keep a record of the sales tax she paid. The amount allowed by the sales tax table is $$437.$

Janice reports interest income of $$4,000$ on certificates of deposit at Second National Bank. Janice makes estimated tax payments of $$5,000$ for $2022.$

Compute Janice Morgan$$s $2022$ Federal income tax payable $($or refund due$),$ and complete her $2022$ tax return using appropriate forms and schedules