Roger, an individual, owns a proprietorship Green Options. For the year 2019, Roger reports the following items:
? Business income—$200,000.? Business expense—$150,000.
? Loss on a completely destroyed business machine. The machine had an adjusted basis of $25,000 and a fair market value of $20,000.? Loss on a business truck. The truck had an adjusted basis of $8,000. The repairs to fix the truck cost $10,000.
Determine Roger’s adjusted gross income for 2019.
What will be an ideal response?
| Business income | $200,000 |
| Business expense | (150,000) |
| Loss on business machine | (25,000) |
| Loss on business truck | (8,000) |
| Adjusted gross income | $ 17,000 |
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