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Compute Mike taxable income

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Question - Mike, single, age 31, reports the following items for 2020:

Salary $50,000

Non-business bad debt (6,000)

Casualty Asset A (personal use property held for two years) - gain 3,000

Dividends 2,000

Interest expense on personal residence 10,000

Required - Compute Mike's taxable income for 2020.

Reference no: EM132995758

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