Multiple Choice
Kelsey enjoys making cupcakes as a hobby and occasionally sells them for parties.Kelsey receives $1,000 in revenues from cupcake sales this year and pays $1,300 for supplies.Kelsey takes the standard deduction each year.The net effect of the cupcake activity on Kelsey's taxable income is
A) $0.
B) an increase of $1,000.
C) a decrease of $300.
D) a decrease of $280.
Correct Answer:
Verified
Correct Answer:
Verified
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