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55. Mike, single, age 31, reports the following items for 2020: $ 50,000 (6,000) Salary Nonbusiness bad debt Casualty Asset A (personal use property held

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55. Mike, single, age 31, reports the following items for 2020: $ 50,000 (6,000) Salary Nonbusiness bad debt Casualty Asset A (personal use property held for two years) - gain Dividends Interest expense on personal residence 3,000 2,000 10,000 Compute Mike's taxable income for 2020

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