Christian Everland (SS# 412-34-5670) is single and resides at 3554 Arrival Road, Apt. 6E, Buckhead, GA...

Christian Everland (SS# 412-34-5670) is single and resides at 3554 Arrival Road, Apt. 6E, Buckhead, GA 30625.

Last year Christian started his own landscaping business. He now has two employees and had the following business results in 2019:

Revenue	63,500
Expenses
Wages	12,500
Payroll Taxes	956
Fuel	3,500
Repairs	2,345
Assets
Truck (100% used for business.)	Original Cost: 22,000 (purchased 3/01/19)
Mower #1	Original Cost: 4,500 (purchased new 1/05/19)
Mower #2	Leased for $200/month for all of 2019
other business equipment	Original cost: 4,000 (purchased new 1/05/2019)

Section 179 depreciation is elected for all assets

Christian has no other income, does not itemize, and has no dependents. He paid four quarterly federal tax estimates of $700 each.

REQUIRED

Prepare Christian's 2019 Form 1040 and other appropriate forms and schedules. He wants to contribute to the presidential election campaign and does not want anyone to be a third-party designee. Christian had a qualifying health care coverage at all times during the tax year. For any missing information, make reasonable assumptions.

Solutions

Expert Solution

Answer :

ekkarill92 answered 1 year ago

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