Jose, single reports the following items for 2021. Salary. $44,000 Code section 1244 loss on stock acquired 3 years ago
Posted: Sun Jul 03, 2022 1:15 pm
Jose, single reports the following items for 2021.
Salary. $44,000
Code section 1244 loss on stock acquired 3 years ago(70,000)
Code section 1244 gain on stock acquired 10 months ago26,000
Worthless security purchased in june of last year (4,000)
Nonbusiness bad debt (7,000)
interest income 8,000
Compute jose adjusted gross income for 2021
Salary. $44,000
Code section 1244 loss on stock acquired 3 years ago(70,000)
Code section 1244 gain on stock acquired 10 months ago26,000
Worthless security purchased in june of last year (4,000)
Nonbusiness bad debt (7,000)
interest income 8,000
Compute jose adjusted gross income for 2021