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Amy a real state broker had the following income and

Question - Amy, a real state broker, had the following income and expenses in her business:

Commissions revenues $100,000

Expenses:

Commissions paid to non - brokers for referrals (illegal under state law and subject to criminal penalties) 20,000

Commissions paid to other real estate brokers for referrals (not illegal under state law) 10,000

Travel and transportation 12,000

Supplies 4,000

Office and phone 5,000

Parking tickets 500

How much net income must Amy report on her Schedule C?

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Accounting Basics: Amy a real state broker had the following income and

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