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Question 1: Clarice became very ill in August of 2019 and was unable to work the rest of the yearn. She had only $30,000 of income from her job for the time she worked and was forced to sell the following investments to pay for her living expenses. She so, d 10,000 shares of BBC stock purchased two years ago for $34,000 (basis = $16,000) and a coin collection she inherited from her grandfather many years ago for $55,000 (basis = $30,000). If Clarice is single and has no dependents, determine her taxable income and her income tax liability for 2019.
Financial Statement Analysis and Preparation
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