Which of the following individuals is most likely to be audited? a. Connie has a $20,000 net
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a. Connie has a $20,000 net loss from her unincorporated business (a cattle ranch). She also received a $200,000 salary as an executive of a corporation.
b. Craig has AGI of $20,000 from wages and uses the standard deduction.
c. Dale fails to report $120 of dividends from a stock investment. His taxable income is $40,000 and he has no other unusually large itemized deductions or business expenses. A Form 1099 is reported to the IRS.
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a Of the three individuals Connie would most likely be audited Individuals who have ...View the full answer
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Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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