Tomi, who is single, reports the following items for 2020: Salary $80,000 Loss on sale...
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Tomi, who is single, reports the following items for 2020: Salary $80,000 Loss on sale of 1244 small business stock acquired three years ago (60,000) Stock acquired two years ago became worthless during the year (5,000) Long-term capital gain 25,000 Nonbusiness bad debt (15,000) Federal disaster area casualty loss on property held six months (6,000) Federal disaster area casualty gain on property held four years 4,000. Determine Tomis adjusted gross income for 2020.
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