In 2013,Marc,a single taxpayer,has ordinary income of $35,000.In addition,he has $3,000 in short- term capital gains,short-term capital losses of $6,000,and long-term capital gains of $4,000.What is Marc's adjusted gross income AGI)for 2013?

Question

Quizplus · Accepted Answer

- Marc's ordinary income: $35,000
- Short-term capital gains: $3,000
- Short-term capital losses: -$6,000
- Long-term capital gains: $4,000
To calculate his AGI, we need to subtract the short-term losses from the short-term gains, which gives us a net short-term loss of -$3,000. This loss can be used to offset his other income. 
So Marc's AGI is:
$35,000 + $4,000 - $3,000 = $36,000

In 2013,Marc,a Single Taxpayer,has Ordinary Income of $35,000