Question:34 For the current year, Susan had a salary income of $20,000. In addition, she reported the following capital transactions during the year: Table 1-54 Long-term capital gain $ 7,000 Short-term capital gain $3,000 Long-term capital loss -$2,000 Short-term capital loss -$5,000 There were no other items includable in her gross income. What is the amount of her adjusted gross income for the current year? a. $25,000 b. $24,000 c. $23,000 d. $19,000 e. None of these choices are correct.

Accounting 1. Sally has the following for 2021: a $12,000 § 1245 gain a $38,000 § 1231 gain a $36,000 § 1231 loss a $2,000 § 1231 lookback loss a $18,000 long-term capital gain a $3,500 long-term capital loss. a. Determine her ordinary gain or loss amount for 2021. Enter an absolute amount. b. Determine her LTCG or LTCL amount for 2021. Enter an absolute amount. 23. Molly exchanges a rental building, which has an adjusted basis of $625,000, and FMV of $715,000 for another rental house which has a fair market value of $565,000. She also receives $150,000 in cash. What is the recognized gain or loss the new rental house?

Last year Sherlock had an annual earned income of S58,475. He also had passive income of $1,255, and capital gains of $2,350. What was Sherlock's total gross income for the year? a. $58.475 b. 559.730 c. 560 985 d.562.080

You are provided with the following amounts for Susan Kim for the current year: • Net employment income (ITA 5 to 8) = $35,000 • Interest income (ITA 12) = $5,700 • Taxable amount of dividends (ITA 12) = $2,620 Taxable capital gains (ITA 38 to 55) = $2,500 • Alowabie capital losses (ITA 38 to 55) = $3,500 • Interest expense (bank loan for investment purposes) = $2,500 • Investment counsel fees = $900 • RRSP deduction (allowed pursuant to ITA 60) = $9,500 Based on the above, the "net property income" reported by Susan Kim pursuant to ITA 3(a) for the current year is: Choose the correct answer. A. $7,320 B. $8,320 C. $33,460 D. $4,920

You are provided with the following amounts for Denise Tran for the current year: * Net employment income (ITA 5 to 8) = $40,000 • Interest income (ITA 12) = $6,100 Taxable amount of dividends (ITA 12) = $2,640 • Taxable capital gains (ITA 38 to 55) = $5,500 • Allowable capital losses (ITA 38 to 55) = $6,500 • Interest expense (bank loan for investment purposes) = $5,500 Investment counsel fees = $300 RRSP deduction (allowed pursuant to ITA 60) = $12,000 Based on the above, the "net property income" reported by Denise Tran pursuant to ITA 3(a) for the current year is: - Choose the correct answer. OA. $8,740 OB. $38,460 O C. $7,740 OD. $2,940

Question:3 Richard, a single taxpayer, has a wage income of $75,000. He also has a short-term capital loss of $9,000, a short-term capital gain of $1,000, and a long-term capital gain of $2,000. What is Reuben's AGI for the current year? A. $78,000 B. $72,000 C. $75,000 D. $69,000

Answer in typing

go.01

X Your answer is incorrect. William, who is single, has the following items for the current year: Wages Rental loss Interest income Capital gains NOL carryforward from 2017 Mortgage interest expense Real estate taxes State income taxes What is William's net operating loss for the current year? Loss tA $54,500 ($76,500) $1,750 $2,550 ($13,500) $12,500 $6,000 $3,500 $ 53200

Please right answer