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swat32
3 years ago
12

During 2019, Enrique had the following transactions: Salary $70,000 Interest income on Xerox bonds 2,000 Inheritance from uncle

40,000 Contribution to traditional IRA 5,500 Capital losses 2,500
Esther's AGI is
a. $62,000.
b. S64.000.
Business
1 answer:
expeople1 [14]3 years ago
6 0

Answer:

The correct answer is B

Explanation:

Calculation of AGI for 2019 -

Salary Income                                                                                $70,000

Interest income on Xerox bonds                                                 $2,000

Inheritance from uncle                                                                  $ 40,000

Deduction : Capital Loss                                                        ($2500)

Contribution to traditional IRA                                                 ($5500)

Inheritance from uncle                                                              ($40,000)

Total =                                                                                          $64,000

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Answer:

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Explanation:

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6 0
3 years ago
Which skills would be the most beneficial for a computer help desk technician?
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3 years ago
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ABC Company received $9,631 for its 5-year, 10% bonds with a total face value of $10,000. The market rate of interest was 11%. T
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Answer:

The correct answer is Option A.

Explanation:

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In the case of the question, the bond was purchased at $9,631 with a face value of $10,000. Interest expense is calculated as the bond price multiplied by the market rate, i.e. $9,631  x 11% = $1,059.41.

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2 years ago
Gray is a 50% partner in Fabco Partnership. Gray's tax basis in Fabco on January 1, year 4, was $5,000. Fabco made no distributi
arsen [322]

Answer:

$21000

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