What follows are Zach's major sources of income: salary and wages; $50,000 sales commissions; $7,500 stock dividends; $1,800 interest on a cd; $700 loss from real estate investment; $3,500 zach needs your help with the following questions so he can prepare his taxes:
i) What is his total active income?
ii) What is his total portfolio income?
iii) What amount of the loss from real estate may be used to adjust his gross income?

Answer rating: 100% (QA)

Zachs Tax Headache Active Income is the one in which some services have been rendered Some ... View the full answer