Question
. A taxpayer reported the following items for the year: Salary $50,000 Loss on sale of XYZ stock (4,000) Gain on sale of ABC stock
. A taxpayer reported the following items for the year:
|
|
|
|
|
| Salary | $50,000 |
|
| Loss on sale of XYZ stock | (4,000) |
|
| Gain on sale of ABC stock | 6,000 |
|
| Gambling winnings | 5,000 |
|
| Gambling losses | 3,000 |
|
| Lottery prize | 2,000 |
What is the taxpayer's adjusted gross income?
a. $56,000
b. $58,000
c. $60,000
d. $63,000
e. $59,000
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Audit And Assurance Q And A 2019
Authors: ACA Simplified
1st Edition
1792949863, 978-1792949869
