Determine teresas adjusted gross income, Accounting Basics

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Determine teresas adjusted gross income

Teresa had the following items for last year:

Salary $40,000
Short-term capital gain 3,000
Nonbusiness bad debt (10,000)

For the current year, Teresa had the following items:

Salary $45,000
Nonbusiness bad debt (1,000)
Collection of last year's bad debt 10,000

Determine Teresa's adjusted gross income for the current year.

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Accounting Basics: Determine teresas adjusted gross income

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Accounting Basics: Determine teresas adjusted gross income

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Accounting Basics: Determine teresas adjusted gross income

Reference No:- TGS096658

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