Compute larrys taxable income for the year

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Reference no: EM13753932

Larry, single, age 31, had the following items for 2014:

Salary $50,000

Non business bad debt (6,000)

Casualties-independent events: Asset A (personal use property held for two years)-gain $3,000

Securities (stolen)-loss (8,000)

Dividends $2,000

Interest expense on personal residence $10,000

Compute Larrys' taxable income for the year 2014.

Reference no: EM13753932

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