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What amount must be omitted from income for the six year

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Reference no: EM131776655

Question - Jim a retail merchant reported the following on his 2010 return:

Sales 200000

Cost of goods sold 80000

Gross profit 120000

What amount must be omitted from income for the six year statute of limitations apply?

a. 30000

b. 20000

c. more than 50000

d. more than 30000

Reference no: EM131776655

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