Answer on Microeconomics Question for Seth Morgan
Short-term capital gain
Nonbusiness bad debt
Long-term capital loss
For the current year, Tonya had the following items:
Collection of last year’s bad debt
Determine Tonya's adjusted gross income for the current year.
TGI = Salary + Capital gains (losses) = $45,000 + $12,000 - $8,000 = $49,000
AGI = $49,000 - $12,000 $37,000
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