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Required US taxation knowledge. Thanks. Indicate the answer choice that best completes the statement or answers the question. - 4. John files a return as
Required US taxation knowledge. Thanks.
Indicate the answer choice that best completes the statement or answers the question. - 4. John files a return as a single taxpayer. In 2019, he had the following items: Salary of $30,000. Loss of $65,000 on the sale of Section 1244 stock acquired two years ago. Interest income of $6,000. In 2020, John again files a return as a single taxpayer and had the following items: Salary of $114,000 Loss of $55,000 on the sale of Section 1244 stock acquired three years ago Capital gain of $22,000 on the sale of publicly traded stock purchased one year ag Determine John's AGI for 2019 and 2020 (assume these are the only transactions, no other carryovers etc...) a. $0 and $50,000 b. $0 and $52.000 c. $6,000 and $64,00 d. $36.000 and $64.000 e. None of a through d is correctStep by Step Solution
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