In 2020, Tim, a single taxpayer, has ordinary income of $30,000. In addition, he has $2,000 in short- term capital gains, long-term capital losses of $10,000, and long-term capital gains of $4,000. What is Tim's AGI for 2020? Group of answer choices $26,000 $32,000 $27,000 $30,000
In 2020, Tim, a single taxpayer, has ordinary income of $30,000. In addition, he has $2,000 in short- term capital gains, long-term capital losses of $10,000, and long-term capital gains of $4,000. What is Tim's AGI for 2020? Group of answer choices $26,000 $32,000 $27,000 $30,000
Chapter4: Additional Income And The Qualified Business Income Deduction
Section: Chapter Questions
Problem 9MCQ: In 2019, Tim, a single taxpayer, has ordinary income of $29,000. In addition, he has $2,000 in...
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![In 2020, Tim, a single taxpayer, has ordinary income of $30,000. In addition, he has $2,000 in short-
term capital gains, long-term capital losses of $10,000, and long-term capital gains of $4,000. What
is Tim's AGI for 2020?
Group of answer choices
$26,000
$32,000
$27,000
$30,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb91c33a9-dea1-4104-a918-b146df87629d%2Fadba159e-fa4c-4928-807d-07d00dac3669%2Fsrp5uzr_processed.png&w=3840&q=75)
Transcribed Image Text:In 2020, Tim, a single taxpayer, has ordinary income of $30,000. In addition, he has $2,000 in short-
term capital gains, long-term capital losses of $10,000, and long-term capital gains of $4,000. What
is Tim's AGI for 2020?
Group of answer choices
$26,000
$32,000
$27,000
$30,000
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