Name of proprietor Gordon Temper A Principal business or profession, including product or service (see instructions) Food truck Social security number (SSN) 242-11-6767 B Enter code from instructions 722300 D Employer ID number (EIN) (see instr.) C Business name. If no separate business name, leave blank. Mobile Peri Peri E Business address (including suite or room no.) 150 Erie Street City, town or post office, state, and ZIP code Laramie, WY 82070 F Accounting method: (1) Cash (2) Accrual (3) Other (specify) G Did you "materially participate" in the operation of this business during 2023? If "No," see instructions for limit on losses.. H If you started or acquired this business during 2023, check here . . . I Did you make any payments in 2023 that would require you to file Form(s) 1099? See instructions.. J If "Yes," did you or will you file required Form(s) 1099? . . . Part I Income 1 Gross receipts or sales. See instructions for line 1 and check the box if this income was reported to you on Form W-2 and the "Statutory employee" box on that form was checked .. 2 Returns and allowances. ... 3 Subtract line 2 from line 1 4 Cost of goods sold (from line 42).. 1 2 3 4 о Yes No □ Yes No □ Yes □ No
Comprehensive Problem 3-1 Gordon Temper is a single taxpayer (birthdate July 1, 1986 and Social Security number 242-11-6767) who operates a food truck that specializes in food from South Africa. His business is named "Mobile Peri Peri" and although the truck moves around quite a bit, he generally parks it in an office park where he maintains an office and a supply of inventory. The business address is 150 Erie Street, Laramie, WY 82070. The principal business code is 722300. Gordon's food truck business is fairly new, so he also works part-time as a cook at a steak house restaurant in Laramie. His 2023 Form W-2 follows (see separate tab). Gordon provided the following financial information related to Mobile Peri Peri: Revenues $80,000 Beginning Inventory 5,600 Purchases 43,000 Ending inventory 5,800 Truck rental 24,000 Office rental 8,600 Advertising 700 Insurance 3,000 Food license 500 Uniforms 200 Dues 100 Travel 1,600 Office expense 400 Mobile Peri Peri uses the cash method of accounting and the cost method for inventory. Gordon also provided a transportation log that shows that the truck drove 5,600 business miles in 2023. Gordon's log also listed total mileage of 680 miles for his drive in his personal car from the Mobile Peri Peri office to his second job at the steak house. He did not provide mileage from his apartment to or from either work location. Dues are for a subscription to Food Truck Monthly, a trade magazine. His travel expense of $1,600 is for a trip to Steamboat Springs, CO, for a one-day seminar on South African cuisine. He spent the day at the seminar and then went snow-skiing for two days before returning to Laramie. His airfare to Steamboat Springs was $400, his lodging was $300 per night for three nights, and his meals cost $100 per day. The uniforms are white chef's coats and puffy chef's hats embroidered with the South African flag and the Mobile Peri Peri logo on front and back. Gordon was divorced in 2017. His ex-spouse, Tanya Ramsey, pays him alimony of $300 per month. She also has custody of their five children. One of the Ramsey's children, Buffy, age 17, lived with Gordon for five months during 2023 and he estimates he provided more than one-half of her support. Buffy has a part-time job at Taco Shell quick service restaurant and made $5,000 in 2023. Gordon received a sizable property settlement as part of the divorce and has invested wisely. He received the following Forms 1099 for 2023 (see separate tab). Required: Complete Gordon's federal income tax return for 2023 on Form 1040, Schedule 1, Schedule B, Schedule C, and the Qualified Dividends and
Gross receipts or sales. See instructions for line 1 and check the box if this income was reported to you on Form W-2 and the "Statutory employee" box on that form was checked .?
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