Mia Is a Single Taxpayer with Projected AGI of $245,000

question 109

True/False

Mia is a single taxpayer with projected AGI of $245,000 in 2013.She is considering selling a long-term investment before year-end.She expects to realize a gain of $25,000.If Mia sells the investment by December 31,her 2013 taxable income will increase by $25,000.

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Definitions:

Unpaid Rent

Money owed by a tenant to their landlord for the occupancy of rental property and not paid by the due date.

Wrongful Interference

An illegal action that intentionally disrupts a contractual or business relationship causing damage.

Legitimate Competitive Behavior

Actions taken by businesses that are appropriate and lawful in a competitive market to gain advantage.

Transferred Intent

A legal principle under which a person who intends to harm one individual, but unintentionally harms a different individual, can be liable to the second victim for an intentional tort.