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Business, 18.09.2019 23:20 pattydixon6

Rusty has been experiencing serious financial problems. his annual salary was $100,000, but a creditor garnished his salary for $20,000; so the employer paid the creditor (rather than rusty) the $20,000. to prevent creditors from attaching his investments rusty gave his investments to his 21-year-old daughter, rebecca. rebecca received $5,000 in dividends and interest from the investments during the year. rusty transferred some cash to a swiss bank account that paid him $6,000 interest during the year. rusty did not withdraw the interest from the swiss bank account. rusty also hid some of his assets in his wholly owned corporation that received $150,000 rent income but had $160,000 in related expenses, including a $20,000 salary paid to rusty. rusty reasons that his gross income should be computed as follows: salary received $80,000loss from rental property ($150,000-$160,000) (10,000)gross income $70,000compute rustys correct gross income for the year, and explain any differences between your calculation and rustys

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