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Assume that Jill is engaged in painting as a hobby During the year she earns $1000 from sales of her paintings and incurs $1300 expenses for supplies and lessons Jill’s salary from her job is

Assume that Jill is engaged in painting as a hobby. During the year, she earns $1,000 from sales of her paintings and incurs $1,300 expenses for supplies and lessons. Jill’s salary from her job is $70,000. What is the tax treatment of the hobby income and expenses?

Apr 03 2020 View more View Less

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