Problemmarsha brady a lawyer who has a filing status of, Ask an Expert

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Marsha Brady, a lawyer, who has a filing status of single, operates a small pottery business in her spare time. During 2016, she reported the following income and expenses from this activity which is classified as a hobby: Revenue from sale of pottery $9000; Depreciation on potter's wheel ($3700); Property taxes on her pottery shed ($1500); Supplies used such as clay, etc. ($6300). In addition, sha had salary of $40,000 and itemized deductions, not including any listed above, of $5300.

What is the amount of Marsha's taxable income in 2016?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92751456

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