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Title: Margaret, a single taxpayer, operates a small pottery business in her spare time. During the current ... Post by: Augustus1 on Jan 9, 2017 Margaret, a single taxpayer, operates a small pottery business in her spare time. During the current year, she reported the following income and expenses from this activity which is classified as a hobby:
Revenue from sale of pottery $ 4,000 Depreciation on potter's wheel ( 3,000) Property taxes on shed where she does work ( 1,100) Supplies used such as clay, etc. ( 6,500) In addition, she had salary of $75,000 and itemized deductions, not including those listed above, of $2,200. What is the amount of her taxable income? Title: Re: Margaret, a single taxpayer, operates a small pottery business in her spare time. During the ... Post by: MsLippy on Jan 9, 2017 Content hidden
Title: Re: Margaret, a single taxpayer, operates a small pottery business in her spare time. During the current ... Post by: Augustus1 on Mar 19, 2017 Your explanation helped, amazing amazing!
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