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(Solution document) Jerry, a lawyer, 36, not blind, whose filing status is married filing separately, operates a small pottery business in his spare time.


Jerry, a lawyer, 36, not blind, whose filing status is married filing separately, operates a small pottery business in his spare time. During 2017, he reported the following income and expenses from this activity which is classified as a trade or business.


Revenue from sale of pottery                                         $ 11,500

                                          Depreciation on potter's wheel                                              (2,900)

Property taxes on pottery shed                                             (3,500)

Supplies used such as clay, etc.                                     (6,700)


         In addition, he had salary of $40,000 and itemized deductions, not including any listed above, of $4,975. 


What is the amount of Jerry's taxable income in 2017?

 







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