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1. Greg Brady, filing single with 1 dependent, had the following items for 2019: Salary $105,000 Long-term capital gain on sale of investment 13,250 Casualty
1. Greg Brady, filing single with 1 dependent, had the following items for 2019:
Salary | $105,000 |
Long-term capital gain on sale of investment | 13,250 |
Casualty gain on personal property held 4 years | 7,500 |
Stock acquired 4 years ago became worthless during the year | (4,500) |
Loss on non-business bad debt that has been held for 8 years | (7,300) |
Loss on sale of 1244 small business stock acquired 6 years ago | (62,500) |
Casualty loss on long-term business property | (12,400) |
Determine Gregs adjusted gross income for 2019.
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