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Thom Jones (SSN 000-00-1111) is an unincorporated manufacturer of widgets. He uses the LCM method to value his inventory and reports the following for 2012:Sales (less returns and allowances) $1,250,000Cost of goods sold 500,000Office Expenses 10,000Depreciation ?Legal Expenses 4,000Salary Expenses 36,000Travel Expenses 30,000Repair Expenses 20,000Information related to Mr. Jones's depreciation:Cost of office furniture acquired and placed in service on April 15, 2012 (7 year recovery).Thom elected to expense the maximum amount possible under Sec. 179 and the bonusdepreciation provision. $480,000Cost of other property acquired and placed in service on August 1, 2012:5-year recovery property (computers-not listed property) $6,0007-year recovery property (equipment) 54,000Depreciation on assets purchased prior to 2012: 28,000Complete Thom's 20102Form 4562 and Schedule C of Form 1040.
During the year, he made only a nominal amount of disbursements of the type that qualify as itemized deductions of $3,290. What is his standard deduction for 2010?
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