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Carlos is self-employed. During the year, he had the following business income and expenses. What is his gross income for the tax year? Income $16,050

Carlos is self-employed. During the year, he had the following business income and expenses. What is his gross income for the tax year?

  • Income $16,050
  • Cost of goods sold $5,000
  • Advertising $1,000
  • Legal and professional fees $280
  • Office expense $125
  • Supplies $310
  • Business license $100
  • Utilities $420

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