7. In 2010, Tim, a single taxpayer, has ordinary income of $30,000. In addition, he has $2,000...

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7. In 2010, Tim, a single taxpayer, has ordinary income of $30,000. In addition, he has

$2,000 in short-term capital gains, long-term capital losses of $5,000, and long-term capital gains of $4,000. What is Tim’s AGI for 2010?

a. $28,000

b. $30,000

c. $31,000

d. $32,000 LO 8.4

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Income Tax Fundamentals 2011

ISBN: 9780538469197

29th Edition

Authors: Gerald E. Whittenburg, Martha Altus-Buller

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Question Posted: Oct 10, 2024 04:01 AM

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7. In 2010, Tim, a single taxpayer, has ordinary income of $30,000. In addition, he has $2,000...

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Income Tax Fundamentals 2011

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