Priscella pursued a hobby of making bedspreads in her spare time. Her AGI before considering the hobby is $$40,000.$ During $2022$ she sold the bedspreads for $$10,000.$ She incurred expenses as follows:

Supplies $$4,000$

Assuming that the activity is deemed a hobby, how should she report these items on her tax return?

 

Answer rating: 100% (QA)

If Priscellas activity of making bedspreads is considered a hobby rather than a business for tax pur... View the full answer