Juanita Knits Blankets as a Hobby and Sells Them

question 76

Multiple Choice

Juanita knits blankets as a hobby and sells them.In the current year,she earns $5,000 from her blanket sales and incurs expenses of $600.Juanita does not itemize deductions.On her tax return,she should

• A)report $5,000 of hobby income and deduct $600 of hobby expenses from AGI.
• B)report $5,000 of hobby income and deduct $600 of hobby expenses for AGI.
• C)report $5,000 of hobby income and deduct nothing from AGI since Juanita does not itemize deductions.
• D)report no hobby income and no hobby deductions.

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Definitions:

Workplace Diversity

The inclusion of individuals of varying gender, race, ethnicity, age, sexual orientation, religion, and other attributes in a professional setting.

Teleconferencing

The use of telecommunications technology to facilitate meetings or discussions among participants in different locations.

Unique Attitude

A distinctive perspective or way of thinking that sets an individual apart from others.

Cultural Competency

An appreciation for cultural differences that affect communication and the ability to adjust one’s communication style to ensure that efforts to send and receive messages across cultural boundaries are successful.