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Author Question: Lindsey Forbes, a detective who is single, operates a small pottery activity on a part-time basis. ... (Read 141 times)

Awilson837

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on: Sep 13, 2020

Question 1

Explain the rules for determining whether a home is considered a rental property or a vacation home and the tax consequences of this classification.

Question 2

Lindsey Forbes, a detective who is single, operates a small pottery activity on a part-time basis. This year she reported the following income and expenses from this activity:



In addition, she had salary of $70,000 and itemized deductions, not including expenses listed above, of $6,800.

a.  What is the amount of Lindsey's taxable income assuming the activity is classified as a hobby?
b.  What is the amount of Lindsey's taxable income assuming the activity is classified as a trade or business?
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by Awilson837 on Sep 13, 2020

adammoses97

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Awilson837

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review

31809pancho

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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