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Determine neal taxable income

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Reference no: EM131821752

Question - Neal, single and age 37, has the following items for 2009:

Salary $50,000

Casualty loss on business property (8,000)

Casualty loss on rental property (5,000)

Personal casualty gains 3,000

Personal casualty losses (after $100 floor) (12,000)

Interest expense on personal residence (7,000) 

Determine Neal's taxable income for 2009.

Reference no: EM131821752

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