Determine tonyas adjusted gross income for the current, Ask an Expert

Accounting

Tonya had the following items for last year:

Salary $40,000
Short-term capital gain 12,000
Nonbusiness bad debt (10,000)
Long-term capital loss (5,000)

For the current year, Tonya had the following items:

Salary $45,000
Collection of last year bad debt 10,000

Determine Tonya's adjusted gross income for the current year.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M973587

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