|
|---|
|
|
|
|
|
|
c*********9
发帖数: 709 | 1 Homer is an executive who is paid a salary of $80,000. Homer also paints
landscapes as a hobby. This year Homer expects to sell paintings for a total
of $750 and incur the following expenses associated with his painting
activities:
Travel $1480
Paints and canvas 610
Painting classes 230
What is the effect of Homer's hobby on his taxable income? Assume his AGI
does not reflect his painting activities and that he itemizes deductions but
has no other miscellaneous itemized deductions.
my answer :(1480+610+230)-80750*0.02=705
Is that right?
Please help
Thank you so much | H******e
发帖数: 767 | 2 The effect is 0 because his cost is larger than $750, and it is a hobby, not
business.(why *0.02?)
http://www.hrblock.com/free-tax-tips-calculators/tax-help-artic |
|
|
|
|
|
|
|
