Question
. Rachel, a lawyer, age 36, not blind, a filing status of single, operates a small pottery business in her spare time. During 2019, she
. Rachel, a lawyer, age 36, not blind, a filing status of single, operates a small pottery business in her spare time. During 2019, 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 her pottery shed 4,200
Supplies used such as clay, etc. 6,300
In addition, she had salary of $85,000 and itemized deductions, not including any listed above, of $10,300. What is the amount of Rachels taxable income in 2019?
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