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During the year, Marcus had the following transactions: Long-term loss on the sale of business use equipment (totally depreciated) $7,000 Long-term loss on the sale
During the year, Marcus had the following transactions:
| Long-term loss on the sale of business use equipment (totally depreciated) | $7,000 |
| Long-term loss on the sale of personal use camper | 6,000 |
| Long-term gain on the sale of personal use boat | 3,000 |
| Short-term loss on the sale of stock investment | 4,000 |
| Long-term loss on the sale of land investment | 5,000 |
What is the impact of the above transactions on AGI in 2020?
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Auditing Humor And Other Oxymorons
Authors: Mr Mike Jacka
1st Edition
0991280903, 978-0991280902
