Jose, single, had the following items for 2017:

? $$\begin{array} { l r }
\text { Salary } & \$ 44,000 \
\text { § 1244 loss on stock acquired 3 years ago } & ( 70,000 ) \
\text { § 1244 gain on stock acquired } 10 \text { months ago } & 26,000 \
\text { Worthless security purchased in June of last year } & ( 4,000 ) \
\text { Nonbusiness bad debt } & ( 7,000 ) \
\text { Interest income } & 8,000\
\text { Compute Jose's adjusted gross income for 2017}
\end{array}$$

Question

Jose, single, had the following items for 2017:

? $$\begin{array} { l r } 
\text { Salary } & \$ 44,000 \
\text { § 1244 loss on stock acquired 3 years ago } & ( 70,000 ) \
\text { § 1244 gain on stock acquired } 10 \text { months ago } & 26,000 \
\text { Worthless security purchased in June of last year } & ( 4,000 ) \
\text { Nonbusiness bad debt } & ( 7,000 ) \
\text { Interest income } & 8,000\
\text { Compute Jose's adjusted gross income for 2017}
\end{array}$$

Quizplus · Accepted Answer

The Answer of Jose, single, had the following items for 2017:

? $$\begin{array} { l r } 
\text { Salary } & \$ 44,000 \
\text { § 1244 loss on stock acquired 3 years ago } & ( 70,000 ) \
\text { § 1244 gain on stock acquired } 10 \text { months ago } & 26,000 \
\text { Worthless security purchased in June of last year } & ( 4,000 ) \
\text { Nonbusiness bad debt } & ( 7,000 ) \
\text { Interest income } & 8,000\
\text { Compute Jose's adjusted gross income for 2017}
\end{array}$$

Jose, Single, Had the Following Items for 2017: