Nancy Reports the Following Income and Loss in the Current

question 24

Multiple Choice

Nancy reports the following income and loss in the current year. $$\begin{array} { | l | r | } \hline \text { Salary } & \$ 60,000 \\\hline \text { Income from activity A } & 18,000 \\\hline \text { Loss from activity B } & ( 9,000 ) \\\hline \text { Loss from activity C } & ( 13,000 ) \\\hline\end{array}$$ All three activities are passive activities with respect to Nancy.Nancy also has $21,000 of suspended losses attributable to activity C carried over from prior years.During the year,Nancy sells activity C and realizes a $15,000 taxable gain.What is Nancy's AGI as a result of these transactions?

• A)$50,000
• B)$55,000
• C)$64,000
• D)$71,000

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Definitions:

Selection Influence

The impact that the choice of individuals, groups, or elements to study can have on the outcome of research.

Physical Attractiveness

How much a person's physical characteristics are deemed attractive or beautiful by other people.

Adult Attachment Styles

involves the patterns of expectations, needs, emotions, and social behaviors that result from the internal working models of self and others developed in adulthood, based on childhood experiences.

Occupied

Being in use or taken up by someone or something; also refers to territories that are under the control of a foreign military force.