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WARRIOR [948]
3 years ago
5

Tonya had the following items for last year: Salary $40,000 Short-term capital gain 12,000 Nonbusiness bad debt (23,000) Long-te

rm capital gain 8,000 For the current year, Tonya had the following items: Salary $45,000 Long-term capital gain 5,000 Determine Tonya's adjusted gross income for the current year. A. $43,000 B. $45,000 C. $48,000 D. $50,000 E. $53,000
Business
1 answer:
bekas [8.4K]3 years ago
6 0

Answer:

D) $50,000

Explanation:

Tonya's adjusted gross income = salary + long term capital gains = $45,000 + $5,000 = $50,000

Non-business bad debt is unrelated to the person's business, and must be totally worthless in order to be deducted. In this case, Tonya deducted the non-business bad debt last year, so it doesn't affect this year's AGI.

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Which of the following is not a function of prices in a market system? Group of answer choices Prices send signals to buyers and
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Answer:

Prices ensure an equal distribution of goods and services among consumers.

Explanation:

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Mrs. Jones, an appraiser, is appraising a single family residence for which she has located six comparable properties, all sold
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Market data approach

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Read 2 more answers
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