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Kana is a CPA who loves chinchillas. She breeds chinchillas as pets (she currently owns thirteen of them) and every so often sells a baby
Kana is a CPA who loves chinchillas. She breeds chinchillas as pets (she currently owns thirteen of them) and every so often sells a baby chinchilla to a suitable family to keep as a pet. In the current year, she sells $250 worth of chinchillas and incurs the following expenses:
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This activity is considered a hobby. Kana has adjusted gross income of $72,000. What is the amount of income and expense Kana recognizes (assume she itemizes deductions) associated with her chinchilla hobby if the current year is 2018? If an amount is zero, enter "0".
2018 income | $ |
2018 deduction | $0 |
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