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Sandy had the following items on her timely filed 2010 income tax return: Gross receipts $400,000 Cost of Goods sold ($300,000) Capital gain $20,000 Capital loss ($30,000)What is the statute of limitation if she inadvertently omitted $100,000 of income on her 2010 return? What if she omitted $120,000 of income?

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Accounting Basics, Accounting

Category:- Accounting Basics
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