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During the year, Walter had the following transactions: Salary $80,000 Capital loss from a stock investment (4,000) Moving expense to change jobs (10,000) Received repayment of $10,000 loan he made to his brother in 2005 (includes interest of $1,000) 11,000 Property taxes on personal residence 2,000 Walters AGI is: a. $66,000 b. $68,000 c. $69,000 d. $78,000 e. None of the above

During the year, Walter had the following transactions: Salary $80,000 Capital loss from a stock investment (4,000) Moving expense to change jobs (10,000) Received repayment of $10,000 loan he made to his brother in 2005 (includes interest of $1,000) 11,000 Property taxes on personal residence 2,000 Walters AGI is: a. $66,000 b. $68,000 c. $69,000 d. $78,000 e. None of the above

Ciccarelli: Psychology_5 (5th Edition)
Ciccarelli: Psychology_5 (5th Edition)
5th Edition
ISBN:9780134477961
Author:Saundra K. Ciccarelli, J. Noland White
Publisher:Saundra K. Ciccarelli, J. Noland White
Chapter1: The Science Of Psychology
Section: Chapter Questions
Problem 1TY
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During the year, Walter had the following transactions: Salary $80,000 Capital loss from a stock investment (4,000) Moving expense to change jobs (10,000) Received repayment of $10,000 loan he made to his brother in 2005 (includes interest of $1,000) 11,000 Property taxes on personal residence 2,000 Walters AGI is: a. $66,000 b. $68,000 c. $69,000 d. $78,000 e. None of the above
Transcribed Image Text:During the year, Walter had the following transactions: Salary $80,000 Capital loss from a stock investment (4,000) Moving expense to change jobs (10,000) Received repayment of $10,000 loan he made to his brother in 2005 (includes interest of $1,000) 11,000 Property taxes on personal residence 2,000 Walters AGI is: a. $66,000 b. $68,000 c. $69,000 d. $78,000 e. None of the above
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