Maria,who Is Single,had the Following Items for 2015: Salary $80,000

question 95

Essay

Maria,who is single,had the following items for 2015: Salary $80,000 Loss on sale of § 1244 small business stock acquired 3 years ago (60,000) Stock acquired 2 years ago became worthless during the year (5,000) Long-term capital gain 25,000 Nonbusiness bad debt (15,000) Casualty loss on property held 6 months (6,000) Casualty gain on property held 4 years 4,000 Determine Maria's adjusted gross income for 2015.

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Definitions:

Work

Engaging in activities, often for compensation, that involve the production of goods or the provision of services.

Religiosity

The quality of being religious, often characterized by regular participation in religious services, adherence to religious beliefs, and the importance of religion in one's life.

Physical Health

A state of well-being in which the body functions optimally without the presence of disease, encompassing fitness, strength, and physical condition.