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Classify the deductible losses as deductions for or from agi

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Reference no: EM13340832

This has not been a good year for Betsy. During the year, she had losses from the following sales:

                Personal use sailboat                                     $  6,000

                Personal residence                                         $30,000

                Rental house                                                     $12,000

                Orange, Inc. stock                                            $  4,000

                City of James bonds                                        $  2,000

 

a)      What is the amount of Betsy's deductible losses

b)      Classify the deductible losses as deductions for or from AGI

 

Reference no: EM13340832

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