Loss on sale of 1224 small business stock acquired 3 years, Ask an Expert

Accounting

Sally, filling single, had the following items for 2013:

salary $105,000
long-term capital on sale of investment $23,400
casualty gain on personal property held for 4 years $7,500
stock acquired 2 years ago became worthless during the year (4,500)
loss on non-business bad debt that has been held for 5 years (7,300)
loss on sale of 1224 small business stock acquired 3 years ago (62,000)
Casualty loss on long-term business property (12,500)

Determine the Adjusted Gross Income for 2013.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M940970

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