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A taxpayer has the following items last year: Salary of $40,000 Short-term capital gain of $12,000 Long-term capital gain of $8,000 Nonbusiness bad Debt of
A taxpayer has the following items last year:
Salary of $40,000
Short-term capital gain of $12,000
Long-term capital gain of $8,000
Nonbusiness bad Debt of ($25,000)
For the current year they had the following:
Salary of $45,000
Collection of last's bad debt $25,000
Determine AGI for the year
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Fundamental Accounting Principles Volume 1
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
15th Canadian Edition
