Tonya had the following items for last year:
Salary
$40,000
Short-term capital gain
12,000
Nonbusiness bad debt
(25,000)
Long-term capital gain
8,000

For the current year,Tonya had the following items:
Salary
$45,000
Collection of last year's bad debt
25,000

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

Question

Tonya had the following items for last year:
Salary
$40,000
Short-term capital gain
12,000
Nonbusiness bad debt
(25,000)
Long-term capital gain
8,000
​
For the current year,Tonya had the following items:
Salary
$45,000
Collection of last year's bad debt
25,000
​
Determine Tonya's adjusted gross income for the current year.

Quizplus · Accepted Answer

The Answer of Tonya had the following items for last year:
Salary
$40,000
Short-term capital gain
12,000
Nonbusiness bad debt
(25,000)
Long-term capital gain
8,000
​
For the current year,Tonya had the following items:
Salary
$45,000
Collection of last year's bad debt
25,000
​
Determine Tonya's adjusted gross income for the current year.

Tonya Had the Following Items for Last Year