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Case 4 During the year, Emerson has interest income of $6,250, net business income of $43,962, and capital gains of $12,376. He also has a
Case 4 During the year, Emerson has interest income of $6,250, net business income of $43,962, and capital gains of $12,376. He also has a net rental loss of $72,460 and capital losses of $23,874. As he moved to a new work location during the year, he has deductible moving expenses of $7,387.
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