Teri Frazier owned three businesses and rental
properties in During the year, her hait
salon business experienced a $ net
doss. She participated hours in the hair
salon business. All of the salon's employees
worked more than hours for Her
second business was a coinoperated laundry.
She did not participate over hours in
the laundry operation. It had a net loss of
$ The third business was a flower shop,
which had net income of $ for
She participated well over hours in the
flower shop business. None of the activities
was located within onehalf mile of each
other. She also received dividends of $
from her IBM stock, and interest of $
from her AT& T bonds. In addition, Frazier
had a net loss of $ from her real estate
rentals where she was an active participant
Compute her adjusted gross income.
