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Margaret,a Single Taxpayer,operates a Small Pottery Activity in Her Spare

Question 104

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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:
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? 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?

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