quiz 2 & 3 - 1) A taxpayer had the following income...

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1) A taxpayer had the following income and losses in a recent year: Salary $55,000 Sold AT&T stock at a loss ( 5,000) Lottery prize 4,500 Gambling winnings 8,000 Gambling losses ( 5,000) What is the taxpayer's adjusted gross income? a. $57,500 b. $59,500 c. $62,500 d. $64,500 2) Mr. & Mrs. Bronson are both over 65 years of age and are filing a joint return. Their income this year consisted of the following: Taxable interest $ 6,000 Taxable dividends
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This note was uploaded on 02/25/2010 for the course ACCT 5330 taught by Professor Bob during the Spring '10 term at University of Arizona- Tucson.

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quiz 2 & 3 - 1) A taxpayer had the following income...

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