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Larry, a Calendar Year Cash Basis Taxpayer, Has the Following

Question 15

Multiple Choice

Larry, a calendar year cash basis taxpayer, has the following transactions: Larry, a calendar year cash basis taxpayer, has the following transactions: Based on this information, Larry has: A) AGI of $46,500. B) AGI of $51,000. C) AGI of $60,000. D) Deduction for medical expenses of $0. E) None of the above. Based on this information, Larry has:


A) AGI of $46,500.
B) AGI of $51,000.
C) AGI of $60,000.
D) Deduction for medical expenses of $0.
E) None of the above.

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