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An individual taxpayer had the following transactions during the current year: Workers compensation payments $30,000 Damages received for slander 40,000 Loss on the sale of
An individual taxpayer had the following transactions during the current year:
| Workers compensation payments | $30,000 |
| Damages received for slander | 40,000 |
| Loss on the sale of a personal residence | 75,000 |
| W-2 wages | 80,000 |
What is the taxpayers adjusted gross income?
$150,000
$110,000
$120,000
$75,000
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Audit Renaissance
Authors: Vakils
1st Edition
8184621639, 978-8184621631
