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Marcia Brown, a farmer who uses the cash method, filed her 2020 Form 1040 on March 3, 2021. On her Schedule F, she deducted the
Marcia Brown, a farmer who uses the cash method, filed her 2020 Form 1040 on March 3, 2021. On her Schedule F, she deducted the total cost of gasoline (including $110 of excise taxes) used on the farm for farming purposes. Then, on Form 4136, she claimed the $110 as a credit. Marcia reports what amount as other income on line 8 of her 2021 Schedule F?
A. $0B. $55C. $75D. $110
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