Margaret,a single taxpayer,operates a small pottery activity in her spare time.During the current year,she reported the following income and expenses from this activity which is classified as a hobby:
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?
Definitions:
Cultures
The customs, arts, social institutions, and achievements of a particular nation, people, or other social group.
Purposes
The reasons for which something is done or created or for which something exists.
Folklore
Traditional beliefs, customs, stories, songs, and practices that are passed through generations by word of mouth.
Battle Scenes
Depictions of combat in visual, literary, or auditory media, highlighting the drama of conflict.
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