Last year jane identified 50000 as a nonbusiness had debt


Last year, Jane identified $50,000 as a nonbusiness had debt. In that tax year, before considering the tax implications of the nonbusiness bad debt, Jane had $100,000 of taxable income, of which $5,000 consisted of short-term capital gains This year, Jane collected $ 10,000 of the amount she had previously identified as a tad debt. Determine Jane's tax treatment of the $10,000 received in the current tax year.

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Financial Accounting: Last year jane identified 50000 as a nonbusiness had debt
Reference No:- TGS01696315

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