Virginia, a Practicing CPA, Receives $11,000 from the Sale of Rare

question 113

Multiple Choice

Virginia, a practicing CPA, receives $11,000 from the sale of rare orchids that she grows. Her expenses of operating this hobby activity follow: How much of the expenses that Virginia incurs can be deducted as hobby expenses?

• A) $ - 0 -
• B) $ 4,500
• C) $11,000
• D) $12,500
• E) $17,500

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