Tanya Turek has the following income and deductions: Gross Salary from Employment $35,000 Employment income 34,000 Business loss 14,000 Taxable capital gain 4,000 Allowable capital loss 2,000 What is Tanya's net income? A) $23,000 B) $22,000 C) $36,000 D) $24,000

Income Tax Fundamentals 2020
38th Edition
ISBN:9780357391129
Author:WHITTENBURG
Publisher:WHITTENBURG
Chapter1: The Individual Income Tax Return
Section: Chapter Questions
Problem 4P: In 2019, Lou has a salary of $53,300 from her job. She also has interest income of $1,600 and...
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Tanya Turek has the following income and deductions: Gross Salary from Employment $35,000 Employment income 34,000 Business loss 14,000 Taxable capital gain 4,000 Allowable capital loss 2,000 What is Tanya's net income? A) $23,000 B) $22,000 C) $36,000 D) $24,000

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