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AfilCa [17]
2 years ago
10

Priscella pursued a hobby of making bedspreads in her spare time. Her AGI before considering the hobby is $40,000. During 2019 s

he sold the bedspreads for $10,000. She incurred expenses as follows: Supplies $4,000 Interest on loan to get business started 500 Advertising 6,500 Assuming that the activity is deemed a hobby, how should she report these items on her tax return
Business
1 answer:
Nastasia [14]2 years ago
8 0

Answer:

With respect to Adjusted Gross Income we can not deduct anything. She will claim $10,000 in itemized deductions, subject to 2% deductions.

Explanation:

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In 2016, Teller Company sold 3,000 units at $600 each. Variable expenses were $420 per unit, and fixed expenses were $270,000. T
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Answer:

1500

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D. tradable permits

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