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Please give me the correct answer. Sheila's AGI is $54,000 without considering the gains and losses below. Assume she has no nonrecaptured net Sec. 1231
Please give me the correct answer.
Sheila's AGI is $54,000 without considering the gains and losses below. Assume she has no nonrecaptured net Sec. 1231 losses at the beginning of the year. Review the following four independent cases.
| Case A | Case B | Case C | Case D | ||||
| Sec. 1231 gain | $18,000 | $17,000 | $35,000 | $9,000 | |||
| Sec. 1231 loss | 4,000 | 23,000 | 42,000 | 10,000 | |||
| LTCG | -0- | -0- | 8,800 | -0- | |||
| LTCL | -0- | -0- | -0- | 7,200 |
Requirement
Determine her revised AGI after the inclusion of any applicable gains or losses for each of the independent cases.
Revised AGI
Case A ?
Case B ?
Case C ?
Case D ?
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