You receive the following email from Jean Marie:

Hi again! I just received a few 1099s for a business I started in 2020. It is a Virtual Assistant business. Here is the information you will need for the tax return:
Total income $35,900
Expenses:
Software systems $4,500
Website $550
Office supplies $830
Dues and subscriptions $2,500
Facebook ads $5,000
Charitable contributions $3,000
Meals with potential clients $475
Entertainment with potential clients (theater, sports, etc.) $1,300
Business miles 1,480 Total miles 15,900
I wasn't great at keeping track of everything but I have receipts for all of these things.

We also had $69 in interest income on a 1099-INT.

Add this information to the tax return and recalculate the tax due and the refund based on this information. Don't forget QBI.

Answer rating: 100% (QA)

If you received a 10 99 for 35 900 then your taxable income is 35 900 Your deductions would be Softw... View the full answer