The following are the results from business operations for the tax year 2018
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The following are the results from business operations for the tax year 2018

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 FinanceIn self-employment, the eligible assets are business assets that can be included when calculating the net earnings or profit. Assets can either appreciate, that increase their value, or decrease, that means to lose part of their initial value. Depreciable assets are eligible for taxation and accounting. ...

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