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w2 Acct The Deweys are expecting to save on their taxes for 2014. Not only...

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Accounting

w2 Acct

The Deweys are expecting to save on their taxes for 2014. Not only have both incurred large medical expenses, but both reached age 65. During the year, they also recognized a $30,000 loss on some land they sold which was purchased as an investment several years ago. Are the Deweys under a mistaken understanding regarding their tax position? Explain.

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