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Mr. and Mrs. Morris own a grocery store as a sole proprietorship. Their net profit and other relevant items for the year are as follows:
Mr. and Mrs. Morris own a grocery store as a sole proprietorship. Their net profit and other relevant items for the year are as follows:
| Grocery store net profit | $ 44,000 |
|---|---|
| Deduction for SE tax | (3,109) |
| Dividends and interest income | 1,080 |
| Loss from a rental house | (6,470) |
| Loss from a limited partnership interest | (3,400) |
Required: Compute Mr. and Mrs. Morriss AGI.
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Investing Amid Low Expected Returns Making The Most When Markets Offer The Least
Authors: Antti Ilmanen
1st Edition
1119860199, 978-1119860198
