Question: Patrica, a professional gambler, had the following income and expenses in her business: Gambling winnings........................................................275,000 Expenses Fees paid for illegal info...................................................18,000 Travel costs.........................................................................8,000 Office expenses..................................................................5,000

Patrica, a professional gambler, had the following income and expenses in her business:

Gambling winnings........................................................275,000

Expenses

Fees paid for illegal info...................................................18,000

Travel costs.........................................................................8,000

Office expenses..................................................................5,000

Supplies...............................................................................3,000

Business long dis phone charges.....................................1,000

Tickets for illegal parking.....................................................900

How much net income must Patrica report from this business?

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