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Last year, Aleshia identified $7,600 as a nonbusiness bad debt. In that tax year before considering the tax implications of the nonbusiness bad debt, Aleshia
Last year, Aleshia identified $7,600 as a nonbusiness bad debt. In that tax year before considering the tax implications of the nonbusiness bad debt, Aleshia had $30,400 of taxable income, of which $5,320 consisted of short-term capital gains. This year, Aleshia collected $6,384 of the amount she had previously identified as a bad debt. Determine Aleshia's tax treatment of the $6,384 received in the current tax year. Aleshia includes $ of the collection as ordinary income
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