Jerome a doctor earns 300000 from his medical practice in, Ask an Expert

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Jerome, a doctor, earns $300,000 from his medical practice in the current year. He receives $45,000 in dividends and interest during the year as well as $70,000 of income from a passive activity. In addition, he incurs a loss of $80,000 from an investment in a passive activity. What is Jerome's AGI for the current year after considering the passive investments?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M940723

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