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eBook Calculator Exercise 7-19 (Algorithmic) (LO. 1) Last year, Aleshia identified $6,600 as a nonbusiness bad debt. In that tax year before considering the tax
eBook Calculator Exercise 7-19 (Algorithmic) (LO. 1) Last year, Aleshia identified $6,600 as a nonbusiness bad debt. In that tax year before considering the tax implications of the nonbusiness bad debt, Aleshia had $13,200 of taxable income, of which $4,620 consisted of short-term capital gains. This year, Aleshia collected $5,544 of the amount she had previously identified as a bad debt. Determine Aleshia's tax treatment of the $5,544 received in the current tax year. Aleshia includes of the collection as a short-term capital gain Check My Work
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