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Rich is a cash basis self-employed air-conditioning repairmen with current year gross business receipts of $20,000. Rich's cash disbursements were as follows: Air conditioning parts
Rich is a cash basis self-employed air-conditioning repairmen with current year gross business receipts of $20,000. Rich's cash disbursements were as follows:
Air conditioning parts | $2,500 |
Yellow Pages listing | 2,000 |
Estimated federal income taxes on self-employment income | 1,000 |
Business long-distance telephone calls | 400 |
Charitable contributions | 200 |
What amount should Rich report as net self-employment income? (Points : 4)
$15,100 14,900 14,100 13,900
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