Business, 26.10.2021 07:40 palcochran1313

Last year, Aleshia identified $7,000 as a nonbusiness bad debt. In that tax year before considering the tax implications of the nonbusiness bad debt, Aleshia had $14,000 of taxable income, of which $4,900 consisted of short-term capital gains. This year, Aleshia collected $5,880 of the amount she had previously identified as a bad debt. Determine Alisha's tax treatment of the $5,880 received in the current tax year. Aleshia includes $5880 of the collection as:

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Last year, Aleshia identified $7,000 as a nonbusiness bad debt. In that tax year before considering...

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