Linda Larsen, single, had the following items during 2012: Linda had adjusted gross income of $45,000 and $6,000 itemized deductions without the above items.
(a.) What is Linda's taxable income for 2012?
(b.) Assuming the same facts as given above except that Linda had a casualty gain of $2,000 on the business building held ﬁve years rather than a casualty loss of $5,000, what is Linda's taxable income for 2012?

Question

Linda Larsen, single, had the following items during 2012:  Linda had adjusted gross income of $45,000 and $6,000 itemized deductions without the above items.
(a.) What is Linda's taxable income for 2012?
(b.) Assuming the same facts as given above except that Linda had a casualty gain of $2,000 on the business building held ﬁve years rather than a casualty loss of $5,000, what is Linda's taxable income for 2012?

Quizplus · Accepted Answer

The Answer of Linda Larsen, single, had the following items during 2012:  Linda had adjusted gross income of $45,000 and $6,000 itemized deductions without the above items.
(a.) What is Linda's taxable income for 2012?
(b.) Assuming the same facts as given above except that Linda had a casualty gain of $2,000 on the business building held ﬁve years rather than a casualty loss of $5,000, what is Linda's taxable income for 2012?

Linda Larsen, Single, Had the Following Items During 2012