Mike, single, age 31, reports the following items for 2019: $\begin{array}{lr}
\text { Salary } & \$ 50,000 \
\text { Nonbusiness bad debt } & (6,000) \
\text { Casualty } &\
\text { Asset A (personal use property held for two years)gain } & 3,000 \
\text { Dividends } & 2,000 \
\text { Interest expense on personal residence } & 10,000\
\text { Compute Mike's taxable income for } 2019 .\
\end{array}$

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The Answer of Mike, single, age 31, reports the following items for 2019: $\begin{array}{lr}
\text { Salary } & \$ 50,000 \
\text { Nonbusiness bad debt } & (6,000) \
\text { Casualty } &\
\text { Asset A (personal use property held for two years)gain } & 3,000 \
\text { Dividends } & 2,000 \
\text { Interest expense on personal residence } & 10,000\
\text { Compute Mike's taxable income for } 2019 .\
\end{array}$

Mike, Single, Age 31, Reports the Following Items for 2019