Stasia incurred a $20,000 nonbusiness bad debt last year. She also had an $18,000 long-term...
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Stasia 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 Stasia account for the collection? $12,000 income $8,000 income $0 income $11,000 income Question 23 (3 points)
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