Caroline, a single taxpayer, operates a small pottery activity in her spare time. During the...
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Accounting
Caroline, 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:
Revenue from sale of pottery $ 5,000
Depreciation on potter's wheel ( 3,000)
Property taxes on shed where she does work ( 1,100)
Supplies used such as clay, etc. ( 6,500)
In addition, she had salary of $75,000 and itemized deductions, not including those listed above, of $2,100. What is the amount of her taxable income?
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