The following is a hobby: Income $18,000 Interest and property taxes allocable to hobby $...
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Accounting
The following is a hobby: Income $18,000 Interest and property taxes allocable to hobby $ 8,000 Depreciation $ 4,000 Supplies and fees $ 7,000
The amount of the allowable depreciation deduction is: a. a. $0. b. b. $3,000. c. c. $4,000. d. d. None of the above.
The net income or loss from the hobby is: a. a. $10,000. b. b. $18,000. c. c. - $1,000. d. d. None of the above.
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