Long-term business property-determine adjusted gross income

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Greg Brady, filing single with 1 dependent, had the following items for 2016: Salary $85,200; Long-term capital gain on sale of investment $13,250; Casualty gain on personal property held 4 years $9,500; Stock acquired 2 years ago became worthless during the year ($6,100); Loss on non-business bad debt that has been held for 5 years ($3,200); Loss on sale of 1244 small business stock acquired 3 years ago ($68,000); Casualty loss on long-term business property ($2,400) Determine Greg's adjusted gross income for 2016.

Reference no: EM131289537

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Long-term business property-determine adjusted gross income : Greg Brady, filing single with 1 dependent, had the following items for 2016: Salary $85,200; Long-term capital gain on sale of investment $13,250; Casualty gain on personal property held 4 years $9,500; Stock acquired 2 years ago became worthless du..

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