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Glenn is an accountant who races stock cars as a hobby. This year Glenn was paid a salary of $80,000 from his employer and won $2,000 in various races. What is the effect of the racing activities on Glenn's taxable income if Glenn has also incurred $4,200 of hobby expenses this year
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Glenn is an accountant who races stock cars as a hobby. This year Glenn was paid a salary of $80,000...
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