Question: Alya has a mining operation. In 2022 , she mined 155 coins with a fair market value (FMV) of $240 per coin at the time

Alya has a mining operation. In 2022 , she mined 155 coins with a fair market value (FMV) of $240 per coin at the time she receiv had no other income from the mining. She sold 120 of the coins for $275 apiece a month later. Her deductible expenses for the mining operation were $14,500. Finally, she earned 10 coins for interest with a FMV of $2,200 total. How much net income does Alya show on her Schedule C? $18,500$25,400$37,200$39,900 Mark for follow up
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
