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Use 2023 tax rules. Read through the following items and determine what the taxable income is. For any amount that is not taxable or tax
Use 2023 tax rules. Read through the following items and determine what the taxable income is. For any amount that is not taxable or tax deductible explain why it is not.Since Roca Coca (my employer) never started a retirement plan, I decided I should probably start saving for my golden years. I contributed $2,000 to what the bank referred to as a regular IRA. Oh yeah. I also did a little investing this year. I bought a limited partnership interest in Duds Ltd. for $10,000. I thought it was going to be a real winner, but this year they took a bath. My portion of the loss was $8,000. Well, at least I did not actually do any work for Duds, and I get the tax deductionright
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