Juanita knits blankets as a hobby and sells them. in the current year, she earns $5,000 from her blanket sales and incurs expenses of $600. juanita does not itemize deductions. on her tax return, she shoulda) report $5,000 of hobby income and deduct $500 of hobby expenses from agi. b) report $5,000 of hobby income and deduct $400 of hobby expenses for agi. c) report $5,000 of hobby income and deduct nothing from agi since juanita does not itemize deductions. d) report no hobby income and no hobby deductions.

C) report $5,000 of hobby income and deduct nothing from AGI since Juanita does not itemize deductions.

Explanation:

After the passage of the Tax Cuts and Jobs Act (HR 1, “TCJA”) from the period 2018 to 2025 the hobbies deduction is no longer valid.

Thus Juanita cannot declare any deduction. As hobbies aren't businesses. They aim for fun and entertainment not profit is not entitled to the tax deduction businesses are.

answer; is the sum of all individual demands curves;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.