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  3. . jose, single, had the following items for the ta

. Jose, single, had the following items for the tax year : Salary $44,000 ...

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Accounting

. Jose, single, had the following items for the tax year :

Salary $44,000

1244 loss on stock acquired 3 years ago (70,000)

1244 gain on stock acquired 10 months ago 26,000

Worthless security purchased in June of last year (4,000)

Nonbusiness bad debt (7,000)

Interest income 8,000

Compute Joses adjusted gross income:

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