In 2017, Morley, a single taxpayer, had an AGI of $30,000 before considering the following items:
Loss from damage to rental property ($6,000)
Loss from theft of bonds (3,000)
Personal casualty gain 4,000
Personal casualty loss (after $100 floor) (9,000)
Determine the amount of Morley's itemized deduction from the losses
a. $0
b. $2,900
c. $5,120
d. $5,600
e. None of the above
d
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Indicate whether the statement is true or false
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A. Breyers Ice Cream featuring Girl Scout Cookies B. Lip Smacker lip gloss featuring Girl Scout Cookies C. Coffee-Mate coffee creamer featuring Girl Scout Cookies D. Weight Watchers frozen dinners featuring Girl Scout Cookies E. Nestle Crunch candy bars featuring Girl Scout Cookies
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List the steps in the process of profit planning for a small business.
What will be an ideal response?