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What was the individual net income for tax purposes

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Reference no: EM133128795

Question - An individual had the following sources of income during 2021:

Employment income $45,000

Interest income 1,200

Income/(loss) from sole proprietorship #1  16,000

Income/(loss) from sole proprietorship #2  -19,000

Capital gain on sale of land 23,000

Capital loss on sale of securities -26,000

Income from rental property 38,500

Deductions for rental property -28,000

Required - What was the individual's net income for tax purposes?

A. $50,700

B. $52,200

C. $41,700

D. $43,200

E. none of the above

Reference no: EM133128795

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