Ned sold the following items last year: Item Holding Period Gain/(Loss) Office Equipment Used for Business Inventory

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Ned sold the following items last year: Item Holding Period Gain/(Loss) Office Equipment Used for Business Inventory Sales ABC Stock Held for Investment Furniture Used for Business Vacation home (never rented) Land Held for Investment 2 years 6 months 9 months 6 months 4 years 6 years $ 2,000 $ 15,000 $ 4,000 $ (2,000) $ (6,000) $(10,000) Before considering the above, Ned had adjusted gross income of $100,000. What is Ned's AGI after considering the foregoing items? Explain in full and show all computations clearly (remember the instructor has to be able to follow what you are doing)

Posted Date: May 19, 2024 01:01 PM

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Ned sold the following items last year: Item Holding Period Gain/(Loss) Office Equipment Used for Business Inventory

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