Warren is a single filer with no dependents. He has collected antiques for many years. he often travels to places to aquire rare pieces that he sells later at flea markets. since he usually loses money in total, its considered a hobby under section 183. for the current year warrens business showed the following

sales $20,000

COGS 12,000

General expenses:

Travel expense: 7500

Advertising: 1500

office supplies: 1000

licenses and fees: 2000

indiana personal property tax related to antiques: 800

warrens adjusted gross income for the year not counting any of the items above us $100,000. he has other itemized deductions (not counting any items above) of $7000.

A. compute Warrens minimum adjusted gross income.

B. Compute Warrens minimum taxable income.

C. What is the amount if carryover, if any, Warren may have into the next year?