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(Solved) *Please include all calculations and a brief explanation regarding any applicable rules. 1) Bruce, w


*Please include all calculations and a brief explanation regarding any applicable rules. 1) Bruce, who is single, had the following items for the current year. -Salary of $80,000 -Gain of $20,000 on the sale of A?§ 1244 stock acquired two years earlier -Business bad debt of $1,000 -Non-business bad debt of $2,000 -Loss of $75,000 on the sale of A?§ 1244 stock acquired three years earlier -Worthless stock of $15,000. The stock was aquired on Feb. 1 of the prior year and became worthless on January 15 of the current year. Determine BruceAc€?cs AGI for the current year a) $27,000 b) $38,000 c) $42,000 d) $47,000 e) None of the above

 


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Oct 15, 2019

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