During 2015, Gary receives a $50,000 salary and has no deductions for AGI. In 2014, Gary had
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• An automobile purchased in 2010 for $10,800 and held for personal use is sold for $7,000.
• On April 10, 2015, stock held for investment is sold for $21,000. The stock was acquired on November 20, 2014, for $9,300.
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59700 The 3800 loss on the sale of the automob...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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