14. Anne Able, age 86, spends considerable time each year pursuing her hobby of baseball card collecting, occasionally attending card collector shows, where she buys and sells cards. During 2020, Anne recorded gross sales of $3,100 at seven shows and incurred ordinary and necessary expenses of $5,200. On Anne's 2020 Form 104, she must report .. Gross revenue of $3,100, but can deduct $3,100 "for AGI." Gross revenue of $3,100, but can deduct $5,200 "for AGI." Gross revenue of $3,100, but can deduct $5,200 "from AGI." Gross revenue of $3,100, but can deduct $3,100 "from AGI." most B D E None of the above
14. Anne Able, age 86, spends considerable time each year pursuing her hobby of baseball card collecting, occasionally attending card collector shows, where she buys and sells cards. During 2020, Anne recorded gross sales of $3,100 at seven shows and incurred ordinary and necessary expenses of $5,200. On Anne's 2020 Form 104, she must report .. Gross revenue of $3,100, but can deduct $3,100 "for AGI." Gross revenue of $3,100, but can deduct $5,200 "for AGI." Gross revenue of $3,100, but can deduct $5,200 "from AGI." Gross revenue of $3,100, but can deduct $3,100 "from AGI." most B D E None of the above
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question

Transcribed Image Text:14. Anne Able, age 86, spends considerable time each year pursuing her hobby of
baseball card collecting, occasionally attending card collector shows, where she buys
and sells cards. During 2020, Anne recorded gross sales of $3,100 at seven shows
and incurred ordinary and necessary expenses of $5,200. On Anne's 2020
Form 104, she must report .
Gross revenue of $3,100, but can deduct $3,100 "for AGI."
Gross revenue of $3,100, but can deduct $5,200 "for AGI."
Gross revenue of $3,100, but can deduct $5,200 "from AGI."
Gross revenue of $3,100, but can deduct $3,100 "from AGI."
the nost
B
C
None of the above
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