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Jamari Peters (Social Security number 123-45-6789) operates a business with the following results in 2023 : Jamari estimates that due to a depressed real estate

image text in transcribed Jamari Peters (Social Security number 123-45-6789) operates a business with the following results in 2023 : Jamari estimates that due to a depressed real estate market, the value of land owned by the business declined by $5,200. a. Calculate the effect of Jamari's business on his AGI. Jamari's business has of $ which is reported on his tax return. b. How would your answer in part (a) change if the activity was a hobby? If the activity was a hobby, Jamari will report $ as income. Of his expenses, $ are deductible on his tax return

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