Question
. Marsha Brady, a lawyer, whose filing status is single and has no dependents, operates a small pottery business in her spare time.During 2018, she
. Marsha Brady, a lawyer, whose filing status is single and has no dependents, operates a small pottery business in her spare time.During 2018, she reported the following income and expenses from this activity which is classified as a trade or business.
Revenue from sale of pottery$9,000
Depreciation on potter's wheel(3,700)
Property taxes on pottery shed(2,800)
Supplies used such as clay, etc.(3,300)
In addition, she had salary of $65,000 and itemized deductions, not including any listed above, of $10,150.
What is the amount of Marsha's taxable income in 2018?
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