Roger, an Individual, Owns a Proprietorship Called Green Thing

question 32

Essay

Roger, an individual, owns a proprietorship called Green Thing. For the year 2018, Roger has the following items:
? Business income-$200,000.
? Business expense-$150,000.
? Loss on a completely destroyed business machine. The machine had an adjusted basis of $25,000 and a fair market value of $20,000.
? Loss on a business truck. The truck had an adjusted basis of $8,000. The repairs to fix the truck cost $10,000. Determine Roger's adjusted gross income for 2018.

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Definitions:

One Time

Occurring only once; a single occurrence or instance.

Beneficence

The ethical principle of doing good and preventing harm, often emphasized in healthcare and research contexts.

Nonmaleficence

A principle in ethics, particularly in healthcare, that emphasizes avoiding harm or injury to others.

Dual Responsibilities

The situation where an individual simultaneously bears two sets of obligations or duties, often in the context of work-life balance.