Marsha brady a lawyer who is single operates a small


Marsha Brady, a lawyer, who is single, operates a small pottery business in her spare time. During 2016, she reported the following income and expenses from this activity which is classified as a trade or business. Revenue from sale of pottery: $9,000; Depreciation on potter's wheel ($3,700); Property taxes on pottery shed($1,500);Supplies used such as clay, etc.($6,300) In addition, she had salary of $40,000 and itemized deductions, not including any listed above, of $5,150.

What is the amount of Marsha's taxable income in 2016?

Request for Solution File

Ask an Expert for Answer!!
Financial Accounting: Marsha brady a lawyer who is single operates a small
Reference No:- TGS01693010

Expected delivery within 24 Hours