Question: Your client Peg E . Bank would like you to prepare her taxes. She reports the following items that happened during the prior year. What

Your client Peg E

.

Bank would like you to prepare her taxes. She reports the following items that happened during the prior year. What is the total amount subject to taxation?

Wages $

27, 000

Tips

25, 000

Flag Day bonus

15, 000

Debt forgiven by bank

26, 000

Dividends earned from stock

28, 000

Winnings during her trip to Las Vegas

21, 000

Appreciation of her stock portfolio holdings

(

not sold

) 16, 000

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