Question
Jose, single, reports the following items for 2021: Salary $44,000 1244 loss on stock acquired 3 years ago (70,000) 1244 gain on stock acquired 10
Jose, single, reports the following items for 2021:
| Salary | $44,000 |
| 1244 loss on stock acquired 3 years ago | (70,000) |
| 1244 gain on stock acquired 10 months ago | 26,000 |
| Worthless security purchased in June of last year | (4,000) |
| Nonbusiness bad debt | (7,000) |
| Interest income | 8,000 |
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| Compute Joses adjusted gross income for 2021. |
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Financial and Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
12th edition
978-1133952428, 1285078578, 1133952429, 978-1285078571
