Edgar had the following transactions for 2017: $\begin{array}{llr}
\text { Salary } &&\$80,000\
\text { Alimony paid } &&(4,000)\
\text { Recovery from car accident-} &\
\text { Personal injury damages } &\$40,000\
\text { Punitive damages} &\underline{70,000}&110,000\
\text { Gift from parents } &&20,000\
\text { Property sales-} &\
\text { Loss on sale of boat (used for pleasure and owned 4 years) } &(\$4,000)\
\text {Gain on sale of ADM stock (held for 10 months as an investment) } &\underline{4,000}&(-0-)\
\end{array}$
What is Edgar's AGI for 2017?

Question

Edgar had the following transactions for 2017: $\begin{array}{llr}
  \text { Salary } &&\$80,000\
 \text { Alimony paid } &&(4,000)\
 \text {  Recovery from car accident-} &\
 \text { Personal injury damages } &\$40,000\
 \text {  Punitive damages} &\underline{70,000}&110,000\
 \text { Gift from parents } &&20,000\
 \text {  Property sales-} &\
 \text { Loss on sale of boat (used for pleasure and owned 4 years) } &(\$4,000)\
 \text {Gain on sale of ADM stock (held for 10 months as an investment)  } &\underline{4,000}&(-0-)\
\end{array}$
 What is Edgar's AGI for 2017?

Quizplus · Accepted Answer

The Answer of Edgar had the following transactions for 2017: $\begin{array}{llr}
  \text { Salary } &&\$80,000\
 \text { Alimony paid } &&(4,000)\
 \text {  Recovery from car accident-} &\
 \text { Personal injury damages } &\$40,000\
 \text {  Punitive damages} &\underline{70,000}&110,000\
 \text { Gift from parents } &&20,000\
 \text {  Property sales-} &\
 \text { Loss on sale of boat (used for pleasure and owned 4 years) } &(\$4,000)\
 \text {Gain on sale of ADM stock (held for 10 months as an investment)  } &\underline{4,000}&(-0-)\
\end{array}$
 What is Edgar's AGI for 2017?

Edgar Had the Following Transactions for 2017 What Is Edgar's AGI for 2017