Question
A review of Bradleys Year 2 records disclosed the following tax information. Wages $18,000 Taxable interest and qualifying dividends 4,000 Schedule C trucking business net
A review of Bradleys Year 2 records disclosed the following tax information.
| Wages | $18,000 |
| Taxable interest and qualifying dividends | 4,000 |
| Schedule C trucking business net income | 32,000 |
| Rental (loss) from residential property | (35,000) |
| Limited partnership (loss) | (5,000) |
Bradley actively participated in the rental property and was a limited partner in the partnership. Bradley had sufficient amounts at risk for the rental property and the partnership. What is Bradleys Year 2 adjusted gross income?
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Accounting Information Systems The Crossroads Of Accounting And IT
Authors: Donna Ulmer, Donna Kay, Ali Olia
1st Edition
0132132524, 9780132132527
