During 2017,Regina,a sole proprietor,had the following income and expenses from her home jewelry business.Regina is also employed as an office assistant at a local business:
$\begin{array}{lr}\text { W-2 wages from employer }&\$28,000\
\text { Proceeds from jewelry sales } & 15,000 \
\text { Supplies for jewelry } & 5,000 \
\text { Travel for jewelry } & 1,400\\text { Charitable contributions to church }&3,000
\end{array}$ a.What income or loss should be reported on Schedule C?
b.What is Regina's AGI?

Question

During 2017,Regina,a sole proprietor,had the following income and expenses from her home jewelry business.Regina is also employed as an office assistant at a local business:
 $\begin{array}{lr}\text { W-2 wages from employer }&\$28,000\
\text { Proceeds from jewelry sales } & 15,000 \
\text { Supplies for jewelry } & 5,000 \
\text { Travel for jewelry } & 1,400\\text { Charitable contributions to church }&3,000
\end{array}$ a.What income or loss should be reported on Schedule C?
b.What is Regina's AGI?

Quizplus · Accepted Answer

The Answer of During 2017,Regina,a sole proprietor,had the following income and expenses from her home jewelry business.Regina is also employed as an office assistant at a local business:
 $\begin{array}{lr}\text { W-2 wages from employer }&\$28,000\
\text { Proceeds from jewelry sales } & 15,000 \
\text { Supplies for jewelry } & 5,000 \
\text { Travel for jewelry } & 1,400\\text { Charitable contributions to church }&3,000
\end{array}$ a.What income or loss should be reported on Schedule C?
b.What is Regina's AGI?

During 2017,Regina,a Sole Proprietor,had the Following Income and Expenses from Her