Ms. Melinda Gabor starts a business on May 1, 2020. After some consideration, she concludes that it would be best to have a fiscal year that ends on September 30. During the period May 1, 2020 through September 30, 2020, her business has income of $23,500. What amount of business income will Ms. Gabor report in her personal tax return for the year ending December 31, 2020?

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The Answer of Ms. Melinda Gabor starts a business on May 1, 2020. After some consideration, she concludes that it would be best to have a fiscal year that ends on September 30. During the period May 1, 2020 through September 30, 2020, her business has income of $23,500. What amount of business income will Ms. Gabor report in her personal tax return for the year ending December 31, 2020?

Ms Melinda Gabor Starts a Business on May 1, 2020