Business, 14.11.2019 23:31 jasjoh39p0rp6i

Mary incurred a $20,000 nonbusiness bad debt last year. she also had an $18,000 long-term capital gain last year. her taxable income for last year was $25,000. during the current year, she unexpectedly collected $12,000 on the debt. how should mary account for the collection?
a. $0 income
b. $11,000 income
c. $12,000 income
d. $8,000 income
e. none of these choices are correct.

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Mary incurred a $20,000 nonbusiness bad debt last year. she also had an $18,000 long-term capital ga...

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