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How should she report these items on her tax return

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Question - Priscella pursued a hobby of making bedspreads in her spare time. Her AGI before considering the hobby is $40,000. During 2018 she sold the bedspreads for $10,000. She incurred expenses as follows:

Supplies $4,000

Interest on loan to get business started 500

Advertising 6,500

Assuming that the activity is deemed a hobby, how should she report these items on her tax return? How do the following items impact her taxable income?

Reference no: EM133064183

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