During 2019, Gary receives a $90,000 salary and has no deductions for AGL In 2018, Gary had
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During 2019, Gary receives a $90,000 salary and has no deductions
for AGL In 2018, Gary had a $5,000 STCL and no other capital losses or capital gains. Consider the following sales and determine Gary's AGI for 2019.
• An automobile purchased in 2014 for $20,500 and held for personal use is sold for $7,000.
• On April 10, 2019, stock held for investment is sold for $21,000. The stock was acquired on November 20, 2018, for $9,300.
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Related Book For
Federal Taxation 2020 Comprehensive
ISBN: 9780135196274
33rd Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse
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