Elliott is the owner of a clothing store. His records indicate that he had sales of $88,000. Customers returned $2,000 worth of clothing because of incorrect fit and various defects. His cost of goods sold was $21,000. He did not have any other income. What is Elliot's Schedule C (Form 1040) gross income?

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Elliots Schedule C Form 1040 gross income is calcula... View the full answer