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When the first smartphone was released, Tiffany was ten years old.Approximately what age is she today?
Adjusted Gross Income
An individual's total gross income minus specific deductions, used to determine taxable income on an income tax return.
FMV
Fair Market Value, which is the price that an asset would sell for on the open market between a willing buyer and a willing seller.
Basis
The amount invested in a property for tax purposes, typically the cost of the property which is used to figure gain or loss on sale.
Taxable Gain
The portion of income or profit on which taxes must be paid, often related to investments or capital assets.
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