Prepare Schedule C and Schedule SE
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Prepare Schedule C and Schedule SE

Cassi (SSN 412-34-5670) has a cash-basis home cleaning business she runs as a sole proprietorship. The following are the results from business operations for the tax year 2018:


Determine Cassi’s self-employment income and QBI deduction. Prepare Schedule C and Schedule SE. § 179 expense is elected on all eligible assets (§ 179 was not taken on assets purchased last year). (Use Table 6A-1)

(Input all the values as positive numbers. Use Rounded values for tax computation. Do not round other intermediate computations. Round your final answers to nearest whole dollar.)


Hint
Accounts and FinanceSelf-employment income is realized when one carries on a business enterprise as the sole proprietor, in a partnership, or as independent contractors. The net earnings of self-employment are calculated by subtracting all business expenses from the business revenues and then multiplying the difference by 92.35%....

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