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During 2020, George receives a $65,000 salary and has no deductions for AGI. In 2019, George had a $4,000 STCL and no other capital losses
During 2020, George receives a $65,000 salary and has no deductions for AGI. In 2019, George had a $4,000 STCL and no other capital losses or capital gains. Consider the following sales. (Click the icon to view the sales.) Requirement Determine George's AGI for 2020. (Assume that the 2019 STCL of $4,000 is before George has taken any capital loss deduction in 2019. Complete all input fields. Enter a "o" for any zero-balances.) 2020 More Info - X 65.000 Salary Net short-term capital gain (loss) Net long-term capital gain (loss) Total AGI An automobile purchased in 2015 for $21,600 and held for personal use is sold for $4,000. On April 10, 2020, stock held for investment sold for $28,000. The stock was acquired on November 20, 2019. for $8,200. Print Done
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