Assume that in addition to the information in Problem 43, Nell had the following items in 2013:
Personal casualty gain on an asset held for four months ..................... $10,000
Personal casualty loss on an asset held for two years ........................... 1,000
Determine Nell's AGI for 2013?
In Problems 43,
Nell, single and age 38, had the following income and expense items in 2013:
Non-business bad debt .............................. $ 6,000
Business bad debt ..................................... 2,000
Non-business long-term capital gain ................ 4,000
Non-business short-term capital loss ................ 3,000
Salary .................................................. 50,000
Interest income ........................................ 3,000